Tinone Expands Land Position at Its Aberfoyle Lithium-TIN-Tungsten Project, Tasmania, Australia
TINONE EXPANDS LAND POSITION AT ITS
ABERFOYLE LITHIUM-TIN-TUNGSTEN
PROJECT, TASMANIA, AUSTRALIA
TSX.V: TORC OTCQB: TORCF
VANCOUVER, BC
,
Feb. 22, 2023
/CNW/ -
TinOne Resources Inc.
(TSXV: TORC) (OTCQB:
TORCF) ("
TinOne
" or the "
Company
") is pleased to announce it has expanded its land position at
its Aberfoyle Project ("
Aberfoyle
" or the "
Project
") and now holds tenure comprising a total of 159
square kilometres in the tier one mining jurisdiction of
Tasmania, Australia
.
Highlights
Two additional licenses (Castle Carey EL13/2022 and Vickory Creek EL14/2022) with a total
area of 27 square kilometres have been acquired adjacent to the Aberfoyle Project EL27/2004
expanding TinOne's land position to 123 square kilometres in the
Aberfoyle
project area, where
zinnwaldite lithium-bearing altered granite was recently discovered with values up to 0.57% Li
2
O
TinOne now holds licenses in
Tasmania
comprising 159 square kilometres within the highly
prospective lithium, tin and tungsten
Northeastern Tasmania
granite province with a further 376
square kilometres currently under application.
Exploration programs are underway on the recently identified lithium-bearing granites at
Aberfoyle
as well as at the Great Pyramid tin-tungsten and Rattler Range tin-tungsten-lithium
projects.
"We are extremely pleased to have been able to expand our 100% owned tenement position in the
highly prospective
Northeastern Tasmania
province,"
commented
Chris Donaldson
, Executive
Chairman.
"Our technical team is in the field following up on our exciting initial lithium results and
continuing our tin programs at Great Pyramid,
Aberfoyle
and Rattler Range."
Key Results
EL13/2022 and EL14/2022 were acquired north and south of TinOne's original
Aberfoyle
exploration
license (EL27/2004) in order to provide full access to additional highly prospective areas of granite
and adjacent Mathinna Supergroup sedimentary rocks (Figure 2).
The combined 123 square kilometres will be explored as a single project, in conjunction with the
geographically separate
Royal George
area (Figure 2). Together with the Company's Rattler Range
and Great Pyramid projects it provides the Company with a commanding position in the tin-tungsten
and lithium prospective geological environment of
Northeastern Tasmania
(Figure 3).
Next Steps
TinOne's technical teams are in the field at the
Aberfoyle
project undertaking additional rock and soil
sampling in conjunction with detailed mapping to further define the extent of the recently discovered
lithium-bearing altered granite. This additional geochemical sampling and detailed mapping will be
used to define first pass drill targets for lithium.
At the Great Pyramid tin project, a specialist structural geologist and a sedimentologist are
undertaking detailed studies to assist in defining controls and geometries of tin zones. These studies
will be completed in the coming weeks and are critical in informing future resource estimation and
targeting of additional drilling.
Tin-exploration programs are also continuing at the
Aberfoyle
project with the existing soil sampling,
geological mapping and rock sampling being expanded in conjunction with the lithium focussed
programs.
Figure 1 Location of the Company’s projects in the mining friendly jurisdiction of Tasmania. (CNW
Group/TinOne Resources Corp.)
Figure 2 Location TinOne's Aberfoyle project area showing the position of new exploration licenses
in relation to EL27/2004. (CNW Group/TinOne Resources Corp.)
Figure 3 Location TinOne’s project areas in Northeastern Tasmania, showing historical occurrences
of tin and tungsten (Mineral Resources Tasmania database). (CNW Group/TinOne Resources
Corp.)
About TinOne
TinOne is a TSX Venture Exchange listed Canadian public company with a high-quality portfolio of tin
projects in the Tier 1 mining jurisdictions of
Tasmania
and
New South Wales, Australia
. The
Company is focussed on advancing its highly prospective portfolio while also evaluating additional tin
opportunities. TinOne is supported by Inventa Capital Corp.
Qualified Person
The Company's disclosure of technical or scientific information in this press release has been
reviewed and approved by Dr.
Stuart Smith
., Technical Advisor for TinOne. Dr. Smith is a Qualified
Person as defined under the terms of National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward–Looking Statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and "forward–looking information" under
applicable Canadian securities laws. When used in this news release, the words "anticipate",
"believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and
similar words or expressions, identify forward–looking statements or information. These forward–
looking statements or information relate to, among other things: the development of the Company's
projects; future mineral exploration, development and production; the release of drilling results;
and completion of a drilling program.
Forward–looking statements and forward–looking information relating to any future mineral
production, liquidity, enhanced value and capital markets profile of TinOne, future growth potential
for TinOne and its business, and future exploration plans are based on management's reasonable
assumptions, estimates, expectations, analyses and opinions, which are based on management's
experience and perception of trends, current conditions and expected developments, and other
factors that management believes are relevant and reasonable in the circumstances, but which
may prove to be incorrect. Assumptions have been made regarding, among other things, the price
of gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of
exploration and development; the estimated costs of development of exploration projects; TinOne's
ability to operate in a safe and effective manner and its ability to obtain financing on reasonable
terms.
These statements reflect TinOne's respective current views with respect to future events and are
necessarily based upon a number of other assumptions and estimates that, while considered
reasonable by management, are inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Many factors, both known and unknown, could
cause actual results, performance or achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied by such forward–looking
statements or forward-looking information and TinOne has made assumptions and estimates
based on or related to many of these factors. Such factors include, without limitation: the
Company's dependence on early stage mineral projects; metal price volatility; risks associated with
the conduct of the Company's mining activities in
Australia
; regulatory, consent or permitting
delays; risks relating to reliance on the Company's management team and outside contractors;
risks regarding mineral resources and reserves; the Company's inability to obtain insurance to
cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding
the failure to generate sufficient cash flow from operations; risks relating to project financing and
equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of
reserves and resources, metallurgical recoveries and capital and operating costs of such projects;
contests over title to properties, particularly title to undeveloped properties; laws and regulations
governing the environment, health and safety; the ability of the communities in which the Company
operates to manage and cope with the implications of COVID-19; the economic and financial
implications of COVID-19 to the Company; operating or technical difficulties in connection with
mining or development activities; employee relations, labour unrest or unavailability; the
Company's interactions with surrounding communities and artisanal miners; the Company's ability
to successfully integrate acquired assets; the speculative nature of exploration and development,
including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts
of interest among certain directors and officers; lack of liquidity for shareholders of the Company;
litigation risk; and the factors identified under the caption "Risk Factors" in TinOne's management
discussion and analysis. Readers are cautioned against attributing undue certainty to forward–
looking statements or forward-looking information. Although TinOne has attempted to identify
important factors that could cause actual results to differ materially, there may be other factors that
cause results not to be anticipated, estimated or intended. TinOne does not intend, and does not
assume any obligation, to update these forward–looking statements or forward-looking information
to reflect changes in assumptions or changes in circumstances or any other events affecting such
statements or information, other than as required by applicable law.
SOURCE
TinOne Resources Corp.
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For further information:
and to sign-up to the mailing list, please contact: Chris Donaldson,
Executive Chairman, Tel: (604) 813-3931, Email: [email protected]
CO: TinOne Resources Corp.
CNW 08:00e 22-FEB-23