Tinone Reports Historical Samples with Lithium up to 0.26% Li2O at Its Rattler Range TIN Project, Tasmania, Australia
TINONE REPORTS HISTORICAL SAMPLES
WITH LITHIUM UP TO 0.26% Li2O AT ITS
RATTLER RANGE TIN PROJECT, TASMANIA,
AUSTRALIA
VANCOUVER, BC
,
Feb. 28, 2023
/CNW/ -
TinOne Resources Inc.
(TSXV: TORC) (OTCQB:
TORCF) ("
TinOne
" or the "
Company
") is pleased to announce it has located historical exploration
data containing highly elevated lithium grades from its Rattler Range Project ("
Rattler Range
" or the
"
Project
") located in the tier one mining jurisdiction of
Tasmania, Australia
.
Highlights
Surface rock samples taken by previous explorers at its Rattler Range project returned values
of 0.26% Li
2
O and 0.21% Li
2
O
Other samples returned between 0.01% and 0.2% Li
2
O
The samples were recorded as mica-rich, greisen altered granite
These samples are associated with similar granites to the lithium-bearing samples reported by
TinOne at its
Aberfoyle
project, supporting the concept that the northeastern
Tasmania
tin-
tungsten province may also be a fertile lithium province
"We are extremely excited to have located these historical samples so soon after our own
discovery of lithium-bearing altered granite at our
Aberfoyle
project, more than 50 kilometres
away,"
commented
Chris Donaldson
, Executive Chairman.
"
Australia
was ranked as the world's
leading producer of lithium in 2022, and although it's early days for lithium exploration in
northeastern
Tasmania
, the geology is favourable for lithium deposits and our field teams are
active now in defining the extent and grades of the prospective geology."
Key Results
In the course of compiling historic data from its Rattler Range project TinOne's technical team found
reference to an historical exploration program in the area in 2016-2017 that returned highly elevated
lithium values. The program was extremely limited in scale and consisted of the collection of thirteen
rock samples from nine locations in the Rattler Range area and the taking of fifteen quarter core
samples from four historical drill holes in the Mount Terror-Mount Paris area.
The details of these thirteen rocks are shown in Table 1 and Figure 3 which show that the elevated
lithium from this program is clustered in the Rattler Hill area with three of the five samples returning
>0.1% Li
2
O and a maximum of 0.26% Li
2
O. One sample from 8 km to the northwest returned 0.1%
Li
2
O in the Mount Terror area. Samples are predominantly sub-cropping with three samples of float
collected and are typically described as greisen
1
or containing mica alteration. All samples with
Li
2
O values >0.04% are from sub-crop.
The highest value obtained from the core resampling program was 0.1% Li
2
O from a 20 cm sample
taken from 69.7 metres downhole in drillhole MT4. The sample is described as "quartz-mica greisen
with wall-rock xenoliths". The original drill logs from 1981 indicate that whole core was taken for tin
analysis through some intervals, therefore the 2017 sampling may not have sampled the most
greisenised material.
To the knowledge of TinOne no other lithium-focussed exploration has been carried out at Rattler
Range or any of its northeastern
Tasmania
projects. These historical samples are hosted by mica-
altered granite in a separate granite body more than 50 km from TinOne's recent lithium-bearing
samples at its
Aberfoyle
project (see TinOne news release
February 8, 2023
). These granites are
known to be of similar age (Mineral Resources Tasmania
2
), similar geochemistry and are associated
with similar tin-tungsten occurrences.
Table 1.
Rattler Range Historical Rock Sample Details
Sample
ID
East
North
Li
2
O
%
Description
LE4096
564398
5437740
0.10
Quartz-mica-tourmaline greisen
LE4097
564360
5437674
0.03
Quartz-mica-tourmaline greisen
LE4098
564335
5437746
0.02
Quartz-mica-tourmaline greisen, quartz-rich band,
minor oxidised vugs, trace possible cassiterite
LE4099
564335
5437746
0.02
Quartz-mica-tourmaline greisen, quartz-rich band,
minor oxidised vugs, trace possible cassiterite
LE4100
564335
5437746
0.04
Quartz-mica-tourmaline greisen
LE4101
564439
5437850
0.01
Quartz-mica-tourmaline granite, vugs with coarse
mica, quartz, trace cassiterite
LE4102
569769
5435931
0.04
Quartz-mica greisen, greenish clay alteration
possibly after feldspar
LE4103
569769
5435931
0.04
Quartz-mica greisen, pegmatitic quartz bands,
limonitic vugs
LE4104
571578
5435058
0.01
Vein-like band of quartz, minor fine pale
greenish mica
LE4105
572166
5435012
0.14
Quartz-mica greisen, limonitic vugs, trace green
possible malachite
LE4106
572166
5435012
0.21
Oxidised coarse quartz-mica-greisen
LE4107
572190
5435030
0.09
Hard, fresh, fine quartz-mica greisen, traces fine
green possible malachite
LE4108
572177
5435007
0.26
Oxidised, coarse quartz-mica greisen, common
blebs green possible malachite
Sample co-ordinates are GDA94 Zone 55. All rock and core samples were analysed for lithium only at ALS Townsville, using a 4-acid digest followed by ICP-AES analysis (ALS
method ME-ICP61). The reader is cautioned that the historical results are based on prior data and reports prepared by previous property owners. The reader is cautioned not to treat
them, or any part of them, as current and that a qualified person has not done sufficient work to verify the results and that they may not form a reliable guide to future results. No
independent QA/QC protocols are known for these samples and as such analytical results may be unreliable.
____________________________
1
Greisen is a term used to described strongly mica-altered granite that can be associated with tin, tungsten and lithium mineral systems.
2
Available at https://www.mrt.tas.gov.au/mrt_maps/app/list/map
Next Steps
TinOne has undertaken tin-focussed surface sampling and mapping in the Rattler Range project and
is currently awaiting geochemical results from that program. In addition, targeted follow-up of these
recently unearthed results will be undertaken to take additional samples and to define the extent of
the prospective alteration areas.
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 project areas in Northeastern Tasmania, showing historical occurrences
of tin and tungsten (Mineral Resources Tasmania database). (CNW Group/TinOne Resources
Corp.)
Figure 3. Location of historical samples with high lithium in the Rattler Range project area (CNW
Group/TinOne Resources Corp.)
Technical Information
The data disclosed in this news release is related to historical exploration results. The reader is
cautioned that the historical results are based on prior data and reports prepared by previous
property owners. TinOne has not undertaken any independent investigation of the sampling nor has it
independently analyzed the results of the historical exploration work in order to verify the results. The
reader is cautioned not to treat them, or any part of them, as current and that a qualified person has
not done sufficient work to verify the results and that they may not form a reliable guide to future
results. No independent QA/QC protocols are known for these samples and as such analytical
results may be unreliable. TinOne considers these historical drill results relevant as TinOne is using
this data as a guide to plan exploration programs. TinOne's current and future exploration work
includes verification of the historical data through further exploration.
About the Rattler Range Project
The Rattler Range project, consisting of a 32km
2
exploration license (EL10/2019), is a highly
prospective project in northeastern
Tasmania, Australia
and located only 64km from the city of
Launceston. Historical records
3
indicate the presence of 47 individual named tin occurrences across
a 12km long, northwesterly oriented mineralized trend that has seen very little on-ground exploration
since the 1980s. The district contains hard rock greisen and vein mineralization in a cupola zone of
highly fractionated, evolved granite.
High priority initial targets include Bells Hill where multiple mineralized lodes, 1.5 to 6 metres wide,
occur over an area of at least
500m
of strike length. No systematic exploration has been conducted
and only 2 drill holes have been completed at the prospect. Other priority targets include the multi-
kilometre scale tin-bearing alteration zones at Ruby Flats,
Walsh's
, Mammoth and Mt Paris.
_____________________________
3
Source: Mineral Resources Tasmania www.mrt.tas.gov.au
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 Adviser 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; and future mineral exploration, development and production.
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 28-FEB-23