Tinone Samples Lithium Mineralization IN Historical Drill Core from Its Aberfoyle Project, Tasmania, Australia
TINONE SAMPLES LITHIUM MINERALIZATION
IN HISTORICAL DRILL CORE FROM ITS
ABERFOYLE PROJECT, TASMANIA,
AUSTRALIA
TSX.V: TORC OTCQB: TORCF
DEFINES NEW STYLE OF MINERALIZATION PERIPHERAL TO PROSPECTIVE GRANITES
VANCOUVER, BC
,
Aug. 17, 2023
/CNW/ -
TinOne Resources Inc.
(TSXV: TORC) (OTCQB:
TORCF) (
Frankfurt
: 57Z0) ("
TinOne
" or the "
Company
") is pleased to announce that it has
identified lithium mineralization in historical core samples from its 100%-owned, 9,600-hectare
Aberfoyle Project (the "
Project
") located in the tier-one mining jurisdiction of
Tasmania, Australia
.
Highlights
Definition
of a new style of lithium mineralization at
Aberfoyle
:
Select drill core samples of mica-rich sedimentary rocks, host to the prospective Devonian
granites, returned up to 0.47% Li
2
O at the Storeys Creek target area.
Strong lithium mineralization, hosted in sedimentary rocks at Storeys Creek, enhances the
prospectivity criteria for lithium beyond Devonian aged granites.
Follow-up surface sampling, geological mapping, mineralogical studies and potential drilling,
in addition to further sampling of historical drill core, are warranted to fully constrain the
lithium potential of the target area.
Expanded exploration search space:
These new results significantly expand the exploration
search-space for lithium mineralization at
Aberfoyle
and elsewhere across the Company's
portfolio of tin-tungsten-lithium projects in northeast
Tasmania
.
Emerging lithium district:
the Company holds a dominant ground position over many
prospective lithium-hosting granites in northeast
Tasmania
.
"The identification of new lithium mineralization at the Aberfoyle Project significantly opens our
exploration search space across the Project,"
commented
Chris Donaldson
, Executive Chairman
.
"From old core that was drilled for tin-tungsten at the historical
Aberfoyle
and Storeys Creek mines,
we have now discovered that mica-rich sandstones proximal to the prospective granites, also carry
highly anomalous lithium concentrations. This is a great result as it further confirms the presence
of lithium in a new area on the property and opens additional areas for lithium exploration across
the district. Plans are now underway to follow-up and expand on these results by way of systematic
rock sampling and mapping across the Storeys Creek area focused on mica-bearing sandstones
and also the prospective granites. While TinOne's focus remains on our Great Pyramid tin project,
where we are currently concentrating on updating the resource, the exciting new lithium finds at
Aberfoyle
provide significant optionality for the Company."
Drill Core Sampling Program
Based on a thorough compilation of historical surface and underground drill data together with
historical underground geological and structural mapping, multiple historical drill holes were selected
for further review. Holes were prioritised based on the documentation and logging of coarse mica-
alteration, which has shown to be locally related to lithium mineralization elsewhere on the Project
(see
March 15
th
, 2023 news release).
The key drill holes were located at the Mineral Resources Tasmania (MRT) core storage facility at
Mornington in Hobart,
Tasmania
. The core storage facility holds a total of approximately 4,800
metres of drill core from 59 underground holes drilled at the Storeys Creek and
Aberfoyle
mines.
Additionally, approximately 5,500 metres of drill core from 28 holes collared at surface in the
Aberfoyle-Storeys Creek area are held at the facility. The core facility also holds approximately
1,400 metres of core from the Royal George area and 380 metres from the Gipps Creek area. In
addition to the core held at the facility, detailed logs from most of the historical drilling at both mines
are available to the Company – 449 logs of >21,000 metres of drilling at
Aberfoyle
and 351 logs of
>18,000 metres of drilling at Storeys Creek.
At Mornington, drill core from prioritized holes were laid out, relogged, imaged and select intervals
were sampled (either half or quarter core) and submitted to the lab for full multi-element
geochemical analyses. Collar information, down hole survey data, lithology, alteration and
mineralization data for each hole were digitised from historical reports and were replotted in 3D
software to better constrain the spatial representation of each sample. For drill holes lacking collar
data, sample locations are inferred from historic underground sections (Figures 2, 3, 4). Seventeen
samples were collected from drill core from seven holes at the Storeys Creek and
Aberfoyle
underground mines and another twenty-five samples were taken from surface holes drilled at Royal
George, Gipps Creek and Storeys Creek (Figure 1). Selected analytical highlights are listed in Table
1.
Table 1. Select geochemical results from core sampling.
Hole
Sample ID
Core
length
(cm)
Li
2
O
%
Sn
%
WO
3
%
Comments
U9-38
TRD006031
21
0.47
0.36
0.01
Hornfels of interbedded sandstone and mudstone of
the Mathinna Supergroup. Spotted siltstone to fine-
grained sandstone. Sample was taken from a vein of
coarse brown mica.
U8-1A
TRD006044
91
0.27
0.02
0.58
Interbedded dark grey sandstone with spotted fine
grained sandstone to siltstone. Minor light brown and
white intervals which may be alteration and/or
staining.
AU11-4
TRD006018
92
0.20
0.06
0.01
Variably altered fine-grained white aplite to medium-
grained leucogranite. Abundant white feldspar. Grey
to transparent quartz and common muscovite. Rare
dark micas.
U6-11
TRD006026
99
0.13
0.02
0.01
Medium to fine-grained white sometimes spotted
sandstone with minor mica.
U6-11
TRD006030
91
0.12
0.01
1.00
Brown metasandstone-dominated section with light
coloured fine-grained metasandstone and grey units.
AU11-4
TRD006019
92
0.10
0.03
0.01
As per sample TRD006018.
U11-7
TRD006032
153
0.09
0.01
0.01
Very sharp contact between dark grey hornfels and
white aplite. Aplite is white mica rich with scattered
dark veinlets and domains less than 5 mm across.
Figure 1. Map showing the locations of the Storeys Creek and Aberfoyle Mine target areas. (CNW
Group/TinOne Resources Corp.)
Highlights from the sampling program include:
Storeys Creek
– Three of the highest lithium results were from samples of sedimentary rocks
representing the host lithologies to the prospective tin-tungsten bearing Devonian granites.
Sample TRD006031 from hole U9-38 returned 0.47% Li
2
O (2,190 ppm Li) of a mica-rich altered
sandstone cut by discrete quartz veins. This sample was collected approximately
100 m
above
the deeper granite (Figure 2). Sample TRD006044 from hole U8-1A returned 0.27% Li
2
O
(1,275 ppm Li) collected from a sandstone cut by mica-rich veins with associated quartz and
sphalerite (zinc sulfide). This sample was collected approximately
50 m
above the granite
(Figure 3).
The presence of strong lithium mineralization, proximal to the granites at Storeys Creek,
improves the Company's exploration model for lithium across the
Aberfoyle
project. Additional
mineralogical work, similar to the initial studies at the Dead Pig target (see
March 15
th
, 2023
news release) is required to constrain the nature of the sandstone-hosted lithium mineralization.
Further sampling (historic drill core) and surface outcrops surrounding the Storeys Creek target
are planned to better evaluate the lithium potential of the area.
Figure 2. Section 2500N through the Storeys Creek historical underground developments showing
the locations of select core samples with associated Li2O values. (CNW Group/TinOne Resources
Corp.)
Figure 3. Section 3300N through the Storeys Creek historical underground developments showing
the locations of select core samples with associated Li2O values. (CNW Group/TinOne Resources
Corp.)
Aberfoyle Mine
– Samples of drill core from historical underground holes at the Aberfoyle Mine,
located 2.8 km south of the Storeys Creek area (Figure 1), returned anomalous lithium values
up to 0.20% Li
2
O (Figure 4). All samples were collected from mica-altered granite (greisen
alteration) with textures similar to other zones of significant lithium mineralisation such as the
Dead Pig target located 6.8 km to the west (1.14% Li
2
O; see
March 15
th
, 2023 news release).
The mineralized granite at the Aberfoyle Mine target is partially covered by relatively shallow
Permian aged sediments, therefore, additional core sampling and potentially follow-up drilling
are required to fully evaluate the scale of the granite-hosted lithium potential of the area.
Figure 4. Plan map of the 1100 Level of the Aberfoyle Mine the locations of select core samples with
associated Li2O values. (CNW Group/TinOne Resources Corp.)
New insights from this core sampling program together with results from the upcoming follow-up
sampling and mineralogical studies will help guide future exploration programs across the Company's
portfolio of highly prospective tin-tungsten-lithium projects in northeast
Tasmania
(Figure 5). Many of
the Company's other projects are also centered on Devonian granites that intruded into Mathinna
Group sedimentary rocks and have similarly not been systematically evaluated for lithium
mineralization.
Analytical Procedures and QA/QC
Drill core samples were delivered to ALS Limited in Burnie,
Australia
from where they were
forwarded to ALS Adelaide for sample preparation. Samples for analysis were forwarded to either
ALS Brisbane or ALS Perth. Both the ALS Brisbane and ALS Perth facilities are ISO 9001 and
ISO/IEC 17025 certified. Samples were analysed for lithium and 47 other elements via inductively
coupled plasma mass spectroscopy after a four acid digestion (ICP-MS; ALS method ME-MS61).
Control samples comprising certified reference samples (including reference material certified for
lithium) duplicates and blank samples were systematically inserted into the sample stream and
analyzed as part of the Company's quality assurance / quality control protocol.
Figure 5. Location of the Company’s projects in the mining friendly jurisdiction of Tasmania,
Australia. (CNW Group/TinOne Resources Corp.)
References
Original sections used for Figures 2-4 can be accessed via the Mineral Resources Tasmania Tiger
database:
https://www.mrt.tas.gov.au/mrtdoc/ct_mineplan/ABERF_081/ABERF_081.pdf
https://www.mrt.tas.gov.au/mrtdoc/ct_mineplan/ABERF_018/ABERF_018.pdf
https://www.mrt.tas.gov.au/mrtdoc/ct_mineplan/ABERF_033/ABERF_033.pdf
https://www.mrt.tas.gov.au/mrtdoc/ct_mineplan/ABERF_222/ABERF_222.pdf
About the Aberfoyle Project
The
Aberfoyle
project area straddles the boundary between the Silurian to Devonian Mathinna
Supergroup sedimentary rocks and the Devonian Ben Lomond Granite. The historical
Aberfoyle
(tin-
tungsten) and Storeys Creek (tungsten-tin) mines as well as other vein systems are hosted in the
sedimentary rocks and occur as strike extensive systems of sheeted and stockwork veining.
Elevated lithium has not previously been reported from the Project area. Historic production
1
from
the Aberfoyle Mine was estimated at 2.1Mt at 0.91% tin and 0.28% tungsten and production from
Storey Creek was estimated at 1.1Mt at 1.09% tungsten and 0.18% tin.
Historical records and drilling indicate the mineralized vein system at
Aberfoyle
is up to 60 metres
wide, 800 metres in length and extends approximately 400 metres in the down dip direction. The
Lutwyche prospect occurs approximately 1 kilometre northeast of
Aberfoyle
and is comprised of two
sets of mineralized veins which can be traced along strike for approximately 750 metres.
An additional sediment-hosted vein system, the Kookaburra, is located 200 metres southwest of the
main Lutwyche vein system and is known to be approximately 40 metres wide with an along strike
extent of at least several hundred metres.
Mineralization at Storeys Creek is hosted within a 30 to 50 metre wide, north-northwest striking
sheeted vein array which dips to the southwest. The system can be traced along strike for 300
metres and extends 400 metres in the down dip direction. The Ben Lomond Granite crops out
approximately 1km west of the mine and has been identified at depth at 180 metres below the
surface.
Additional poorly known sediment-hosted vein systems occur at Brocks, Eastern Hill and elsewhere
in the tenement.
Granite-hosted occurrences are developed throughout the exposed areas of granitoid outcrop and
consist of vein, disseminated and breccia style occurrences with associated greisen style alteration.
These have given rise to historical small scale hard rock and more extensive alluvial production in the
Gipps Creek,
Rex Hill
,
Ben Lomond
, Royal George and other areas.
The Company interprets that both sediment- and granite-hosted systems have developed in
structural corridors of multi-kilometre extent and that historical exploration has not systematically
explored these corridors. TinOne believes systematic exploration of these prospective corridors will
result in the definition of high-quality drill targets.
1
Data relating to historical mine production were sourced from Collins and Williams, 1986. Metallogeny and tectonic development of the Tasman Fold Belt System in Tasmania.
Ore
Geology Reviews
1: 153-201.
Corporate Update
The Company announces that
Ben Meka
has resigned from his role as Vice President, Corporate
Development for TinOne to focus on corporate development opportunities within the Inventa Capital
group. The Company would like to thank Mr. Meka for his contributions.
About TinOne
TinOne is a TSX Venture Exchange listed Canadian public company with a high-quality portfolio of
tin, tin/tungsten and lithium projects in the Tier 1 mining jurisdictions of
Tasmania
and
New South
Wales, Australia
. The Company controls some of the most important tin districts in
Tasmania
,
including
Aberfoyle
, Rattler Range, Mount Maurice and Great Pyramid and is focussed on advancing
its highly prospective portfolio. 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
Russell Fulton
(MAIG), Vice President Exploration for the Company and
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; and the release of exploration
results.
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,
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CO: TinOne Resources Corp.
CNW 08:00e 17-AUG-23