TSX.V: TORC OTCQB: TORCF
VANCOUVER, BC, Feb. 8, 2023
/CNW/ - TinOne Resources Inc. (TSXV: TORC) (OTCQB: TORCF)
("TinOne" or the "Company") is pleased to announce it
has sampled highly elevated lithium grades from its 100%-owned
9,600 hectare Aberfoyle Project ("Aberfoyle" or the "Project")
located in the tier-one mining jurisdiction of Tasmania, Australia.
Highlights
- Surface rock samples taken while geological mapping and
prospecting for tin have returned highly elevated lithium values in
several areas across the Aberfoyle
project covering an area of at least 8 km by 4 km (Figures 1, 2 and
3)
- Ten samples returned ≥0.1% Li2O with a maximum of
0.57% Li2O
- Independent X-ray diffraction analyses has confirmed the host
mineral to be zinnwaldite, the major mica host of significant
lithium projects in Europe and
elsewhere in the world
- Independent third-party check analysis has confirmed original
laboratory analyses
- Field teams have been mobilized to undertake follow up
geological mapping, rock and soil sampling
- The district-scale project is underexplored and has never seen
modern systematic exploration for tin and tungsten and lithium has
never been targeted
"We are very excited to have encountered significant values
of lithium in our surface work at Aberfoyle, which is also a highly prospective
tin and tungsten project," commented Chris Donaldson, Executive Chairman. "While
prospecting for tin and tungsten, the Company made an unanticipated
discovery of lithium mineralization at the Project, which has never
been explored for lithium. The lithium grades are in line with
mica-hosted projects in Europe and
we are eager to continue the field work to complete more targeted
sampling and follow-up. The prospectivity at Aberfoyle is an excellent complement to its
more advanced Great Pyramid tin project also located in
NE Tasmania. Tin, lithium and
tungsten are indispensable for decarbonization and TinOne is in an
excellent position to create shareholder value."
Key Results
During reconnaissance exploration
programs for tin across the Aberfoyle project, TinOne geologists sampled
mica (greisen) altered granite, where ten samples returned highly
elevated lithium values of 0.1% Li2O or above with a
maximum of 0.57% Li2O (Table 1, Figure 2).
Greisen alteration of the type sampled at Aberfoyle is a typical alteration style
associated with many tin deposits globally and is also associated
with certain large scale lithium deposits, where the mica
alteration minerals are lithium-bearing. Lithium grades
(expressed as Li2O) in these mica-hosted deposits are
typically in the range 0.3-0.7% Li2O (Table 2).
The elevated lithium samples at Aberfoyle come from three separate areas over
an area of more than 8 km by 4 km (Figure 2), suggesting that the
lithium occurrences are not isolated and may be part of a
previously unrecognised lithium camp.
The main area of elevated lithium sampled to date covers the
historic Guinea Pig and Dead Pig small-scale tin mining prospects
with five of the seven rock samples collected over an area of
approximately 600 x 250 metres returned values over 0.1%
Li2O and up to 0.57% Li2O (Figures 2 and
3).
Approximately 2 km north of the Guinea Pig prospect, two samples
in the Ockle Creek area returned 0.10% and 0.12%
Li2O, respectively (Figures 2 and 3).
In addition, another sample collected at the Tasmania Creek
prospect to the northeast returned 0.22% Li2O and one
sample a further 1 km north returned 0.1%
Li2O (Figure 2).
Check Analysis and Mineralogical Analysis
Samples that returned 0.1% or more Li2O were
sent for umpire analysis at SGS Townsville, Australia and returned values consistent with
the original ALS results (Table 1), thereby confirming the
significance and validity of the original laboratory results.
Selected higher grade samples were also analysed by X-ray
diffraction12 (XRD) at the Minerals Resources Tasmania
laboratory and confirmed the presence of substantial quantities of
the mica zinnwaldite
{KLiFeAl(AlSi3)O10(OH,F)2}, which
is globally the most important mica-host for hard rock lithium
deposits (Table 2).
Next Steps
TinOne has mobilized its field team to undertake geological
mapping and additional systematic and targeted rock sampling in the
areas identified to-date and in other areas of similar altered
granite known from historic records. Soil sampling in these
areas is also underway in order to define the extent of anomalous
lithium within the granite host.
Results from ongoing rock sampling will be released in the
coming weeks as soon as they are received.
Table 1. Results and sample descriptions
for surface rock samples with Li2O greater than
0.1%.
Sample ID
|
ALS
Li2O
|
SGS
Li2O
|
Sample
Description
|
GM10216
|
0.57 %
|
0.51 %
|
Hard siliceous granite
with green fine-grained mica and thin veinlets of
chalcopyrite/pyrite.
|
GM10214
|
0.30 %
|
0.31 %
|
Altered granite with
fine white mica and quartz and tourmaline veins.
|
GM10217
|
0.25 %
|
0.22 %
|
White and black altered
granite with tourmaline and dark green micas.
|
GM10140
|
0.22 %
|
0.22 %
|
Green altered granite
with miarolitic cavities filled with tourmaline.
|
GM10219
|
0.20 %
|
0.18 %
|
Quartz-rich altered
granite, green rock with dark micas, tourmaline, quartz and sulfide
minerals.
|
GM10204
|
0.12 %
|
0.13 %
|
Altered porphyritic
granite with diffuse bands of quartz-tourmaline and pink
chalcedonic quartz.
|
GM10220
|
0.12 %
|
0.12 %
|
Altered granite with
chalcedonic quartz veins, green micas and dark veinlets of
tourmaline.
|
GM10202
|
0.10 %
|
0.10 %
|
Altered porphyritic and
aplitic granite with yellowish mica, dark veinlets, chalcedonic
quartz veins and bucky white quartz veins with
tourmaline.
|
GM10245
|
0.10 %
|
0.09 %
|
Silicified granite with
minor fine-grained tourmaline with white mica.
|
GM10256
|
0.10 %
|
0.08 %
|
Silicified tourmaline
aplite and clay with dark veinlets, grey minerals and white
mica.
|
NOTES: The SGS
values are on average marginally lower than the original ALS, as
were the Li certified reference material submitted by TinOne to SGS
as part of its QA/QC protocol. The same Li certified
reference materials analysed by ALS were in range of the certified
values.
|
_________________________________
|
1
|
MINERAL RESOURCES
TASMANIA LABORATORY REPORT LJN2023-010. MINERALOGICAL EXAMINATION
OF POWDERED ROCK SAMPLES, GIPPS CREEK AREA. 25 January
2023
|
2
|
X-ray diffraction (XRD)
is a technique that detects the specific minerals present in a rock
sample with a high degree of confidence.
|
Table 2. Li-mica associated deposits
worldwide
Project
|
Company
|
Location
|
Mineral
|
Resource
|
Recovery
(to concentrate)
|
Cinovec
1,7
|
European
Metals
|
Czech
Republic
|
zinnwaldite
|
JORC Indicated 372.4Mt
@ 0.44% Li2O
JORC Inferred 323.5Mt @
0.39% Li2O
|
90 %
|
San Jose
2,7
|
Infinity
Lithium
|
Spain
|
zinnwaldite
(and other
Li-minerals)
|
JORC Indicated 59Mt @
0.63% Li2O
JORC Inferred 52.2Mt @
0.59% Li2O
JORC Probable Reserve
37.2Mt @ 0.63% Li2O
|
66.5 %
|
Zinnwald3
|
Zinnwald
Lithium
|
Germany
|
zinnwaldite
|
NI43-101 Measured
18.51Mt @ 0.78 Li2O
NI43-101 Indicated 17Mt
@ 0.73% Li2O
NI43-101 Inferred
4.865Mt @ 0.76% Li2O
|
92 %
|
Sadisdorf4,7
|
Zinnwald
Lithium
|
Germany
|
zinnwaldite
|
JORC Inferred 25Mt @
0.45% Li2O
|
NA
|
Trelavour5,7
|
Cornish
Lithium
|
England
|
zinnwaldite
|
JORC Inferred 51.7Mt @
0.24% Li2O
|
NA
|
Karibib
6,7
|
Lepidico
|
Namibia
|
lepidolite
and other
Li-micas
|
JORC Consolidated
M+I+Inf 11.85Mt @ 0.46% Li2O
|
80.1 %
|
NOTES:
|
1.
|
ASX announcement; 13
October 2021
|
2.
|
ASX announcement; 23
May 2018 & Nov 2020
|
3.
|
See technical report:
"Preliminary Economic Assessment for the revised Zinnwald Lithium
Project, Germany, September 2022", effective date 06 September
2022
|
4.
|
ASX announcement
("Lithium Australia") 7 December 2017
|
5.
|
Company announcement;
02 December 2021
|
6.
|
ASX announcement; 19
December 2022
|
7.
|
See Competent Person
Statement section at end of news release
|
None of the projects shown in Table 2 are owned, controlled
or in any other way associated with TinOne Resources Corp. The
resource estimates are provided, as quoted by the respective
owners, purely for information purposes regarding Li-mica
associated deposits worldwide. TinOne's Aberfoyle project has not been subject to any
detailed investigation, including drilling and the reader is
cautioned that the resource figures in Table 2 may not be
indicative of future results at Aberfoyle. Mineralization hosted on
geologically similar properties is not necessarily indicative of
mineralization hosted on the Company's properties.
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 historic
Aberfoyle (tin) and Storeys Creek
(tin-tungsten) 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 records and drilling indicate the mineralised 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
mineralised 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.
Mineralisation 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 historic 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 historic 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.
Sample Methodology
Rock samples reported here were
collected by experienced geologists from outcrop, float and
historical mining spoil dumps. Samples were typically 1.5 to
2.5 kg and were placed in pre-numbered, calico bags and then into
large rice sacks which were sealed for shipping. Due to the
nature of the available sample media, the samples are not
continuous channel samples and consist of multiple individual small
rock pieces collected from an area considered representative of the
material being sampled.
Quality Assurance / Quality Control
Rock samples were shipped to ALS Limited in Brisbane, Australia for sample preparation and
for analysis. The ALS, Brisbane
facilities are ISO 9001 and ISO/IEC 17025 certified. Tin and
tungsten are analysed by ICP-MS following lithium borate fusion
(ALS method ME-MS85), overlimit results are reanalysed by XRF (ALS
method XRF15b). Forty-eight element multi-element analyses
are conducted by ICP-MS with a four-acid digestion (ALS method
ME-MS61).
Selected elevated lithium sample pulps were shipped to SGS
Townsville for check analysis using a 4-acid digest with and
ICP-OES finish (SGS methods GO_DIG41Q100 and GO_ICP41Q100).
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.
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 controls some of the
most important tin districts in Tasmania including Aberfoyle, Rattler Range and Great Pyramid.
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; 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.
COMPETENT PERSON'S STATEMENT
European Metals
Information in this report that
relates to exploration results for CIS-15 to17, CIS-27 and CIS-31
to 36 is based on, and fairly reflects, information and supporting
documentation prepared by European Metals Competent Person Dr
Vojtech Sesulka. Dr Sesulka is a
Certified Professional Geologist (certified by the European
Federation of Geologists), a member of the Czech Association of
Economic Geologist, and a Competent Person as defined in the JORC
Code 2012 edition of the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves. Dr Sesulka
has provided his prior written consent to the inclusion in this
report of the matters based on his information in the form and
context in which it appears. Dr Sesulka is an independent
consultant with more than 10 years working for the EMH or Geomet
companies. Dr Sesulka does not own any shares in the Company and is
not a participant in any short or long term incentive plans of the
Company.
The information in this release that relates to Mineral
Resources and Exploration Targets is based on, and fairly reflects,
information and supporting documentation prepared by Mr
Lynn Widenbar. Mr Widenbar, who is a
Member of the Australasian Institute of Mining and Metallurgy and a
Member of the Australasian Institute of Geoscientists, is a
full-time employee of Widenbar and Associates and produced the
estimate based on data and geological information supplied by
European Metals. Mr Widenbar has sufficient experience that is
relevant to the style of mineralisation and type of deposit under
consideration and to the activity that he is undertaking to qualify
as a Competent Person as defined in the JORC Code 2012 Edition of
the Australasian Code for Reporting of Exploration Results,
Minerals Resources and Ore Reserves. Mr Widenbar has provided his
prior written consent to the inclusion in this report of the
matters based on his information in the form and context that the
information appears. Mr Widenbar does not own any shares in the
Company and is not a participant in any short or long term
incentive plans of the Company.
https://www.europeanmet.com/wp-content/uploads/EMH-Cinovec-Resource-Estimation-AIM-131021.pdf
Infinity Lithium
The information in this report that
relates to Exploration Targets is based on the information compiled
by Mr Jeremy Peters, FAusIMM CP
(Mining, Geology). Mr Peters has sufficient relevant professional
experience with open pit and underground mining, exploration and
development of mineral deposits similar to the style of
mineralisation and type of deposit under consideration and to the
activity which he is undertaking to qualify as a Competent Person
as defined in the 2012 Edition of JORC Code. He has visited the
project area and observed drilling, logging and sampling techniques
used by Infinity in collection of data used in the preparation of
this report. Mr Peters is an employee of Snowden Mining industry
Consultants and consents to be named in this release and the report
as it is presented. The information in this report that relates to
the December 2017 and updates in
May 2018, updated Mineral Resources
is based on the information compiled by Mr Patrick Adams, FAusIMM CP (Geology). Mr Adams
has sufficient relevant professional experience with open pit and
underground mining, exploration and development of mineral deposits
similar to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined in the 2012 Edition of
JORC Code. Mr Adams has not visited the project area and has relied
on the documented (Peters, May 2017)
drilling, logging and sampling techniques used by Infinity in
collection of data used in the preparation of this report. Mr Adams
is a Principal Geologist and a Director of Cube Consulting Pty Ltd
and consents to be named in this release and the report as it is
presented. The information in this report that relates to
Exploration Results is based on the information compiled or
reviewed by Mr Adrian Byass, B.Sc
Hons (Geol), B.Econ, FSEG, MAIG and an employee of Infinity Lithium
Corporation Limited. Mr Byass has sufficient experience relevant to
the style of mineralisation and type of deposit under consideration
and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2012 Edition of the JORC Code.
Mr Byass consents to the inclusion in the report of the matters
based on this information in the form and context in which it
appears.
https://wcsecure.weblink.com.au/pdf/INF/01983857.pdf
The information in this announcement relates to metallurgical
test work results in relation to the San José Lithium deposit in
Extremadura, Spain, and is based
on the information compiled by Mr Adrian
Byass (as Competent Person) and as assisted by David Valls, of Extremadura Mining S.L. Mr Byass
has sufficient relevant professional experience with open pit and
underground mining, exploration and development of mineral deposits
similar to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking. He has
been working in the project area and managing drilling, logging,
sampling and supervising metallurgical test works used by Infinity
in collection of data used in the preparation of this report. Mr
Byass is an employee of Infinity Lithium Corporation Limited and
its wholly owned subsidiary Extremadura Mining S.L. and consents to
be named in this release and the report as it is presented. Mr
Byass holds securities in Infinity Lithium.
https://wcsecure.weblink.com.au/pdf/INF/02309544.pdf
Zinnwald Lithium
The information in this announcement
that relates to in situ lithium Mineral Resources for Sadisdorf is
based on and fairly represents information compiled by Mr
Thomas Branch under the direction
and supervision of Dr Andrew
Scogings who are both full-time employees of CSA Global Pty
Ltd, in accordance with the requirements of the JORC Code 2012. Dr
Scogings takes overall responsibility for the report. Dr Scogings
is a Member of both the Australian Institute of Geoscientists and
Australasian Institute of Mining and Metallurgy and has sufficient
experience, which is relevant to the style of mineralisation and
type of deposit under consideration, and to the activity he is
undertaking, to qualify as a Competent Person in terms of the
'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves' (JORC Code 2012). Dr Scogings consents
to the inclusion of such information in this announcement in the
form and context in which it appears.
https://lithium-au.com/wp-content/uploads/2016/11/07122017-Maiden-lithium-Mineral-Resource-estimate-for-Sadisdorf.pdf
Cornish Lithium
The Maiden Mineral Resource has been
prepared by Kerry Griffin of Mining
Plus UK Limited, who is a Competent Person as defined by the JORC
Code, 2012 Edition.
https://cornishlithium.com/company-announcements/cornish-lithium-announces-maiden-jorc-resource-for-the-trelavour-project/
Lepidico
Exploration and Resources The information in
this report that relates to Exploration Results is based on
information compiled by Mr Tom
Dukovcic, who is a fulltime employee of the Company and a
member of the Australian Institute of Geoscientists and who has
sufficient experience relevant to the styles of mineralisation and
the types of deposit under consideration, and to the activity that
has been undertaken, to qualify as a Competent Person as defined in
the 2012 edition of the "Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves." Mr
Dukovcic consents to the inclusion in this report of information
compiled by him in the form and context in which it appears. The
information in this report that relates to the Helikon 2 - Helikon
5 Mineral Resource estimates is extracted from an ASX Announcement
dated 16 July 2019 ("Drilling Starts
at the Karibib Lithium Project") and was completed in accordance
with the guidelines of the JORC Code (2012). The Company confirms
that it is not aware of any new information or data that materially
affects the information included in the original market
announcement and that all material assumptions and technical
parameters underpinning the Mineral Resource estimates in the
relevant market announcement continue to apply and have not
materially changed. The Company confirms that the form and context
in which the Competent Person's findings are represented have not
been materially modified from the original market announcement. The
information in this report that relates to the Helikon 1 and
Rubicon Ore Reserve is based on information compiled by
John Wyche who is a Fellow of the
Australasian Institute of Mining and Metallurgy (MAusIMM) and has
sufficient experience which is relevant to the type of deposit and
mining method under consideration and to the activity to which he
is undertaking to qualify as a Competent Person as defined in the
2012 Edition of the "Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves." Mr Wyche is an
employee of Australian Mine Design
and Development Pty Ltd which is an independent consulting company.
He consents to the inclusion in the report of the information
compiled by him in the form and context in which it
appears.
https://cdn.lepidico.com/production/LPD_221219_Replacement_Announcement_Phase_1_Economics_Improved_f161419e3d.pdf
SOURCE TinOne Resources Corp.