TinOne Resources (TSXV:TORC) (OTCQB:TORCF) reported strong results at depth from its Great Pyramid Tin Project in Tasmania, Australia. The Great Pyramid Tin project is the company’s most advanced and active project in its portfolio of high-quality tin assets in the Tier 1 mining jurisdiction of Tasmania and New South Wales, Australia. Drill hole 22GPRC003 returned 0.31% tin over 18 metres, 0.46% tin over 5.4 metres, and 0.22% tin over 13 metres.
Additional Information:
Company: TinOne Resources
Website:
www.tinone.ca Stock Symbol: TSXV:TORC
Date Published: Nov 23, 2022
Transcript:
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Video Transcript:
TinOne Resources Inc. (TSXV:TORC) (OTCQB:TOTCF) reported strong results at depth from its Great Pyramid Tin Project in Tasmania, Australia.
The Great Pyramid Tin project is the company’s most advanced and active project in its portfolio of high-quality tin assets in the Tier 1 mining jurisdiction of Tasmania and New South Wales, Australia.
This table highlights the high grade intersections returned at depth below the historic drilling.
Drill hole 22GPRC003 returned 0.31% tin over 18 metres, 0.46% tin over 5.4 metres, and 0.22% tin over 13 metres
The one significant intersection of 8 metres of 0.15% tin starting at 243 metres from drill hole 22GPRC004 is in addition to the previously reported shallower intersection of 0.13% tin over 17 metres from 41 metres, reported in September.
This diamond core is from hole 22GPRC003 from 309.15 to 316.60m beneath historic resource area.
This interval includes 308.0 to 326.0m which assayed at 0.31% tin.
The interval 313.0 to 315.0m assayed at 0.96% Sn.
Results are pending from diamond core from hole 22GPRC014 from 218.25 to 220.65m, beneath historic resource area.
Historical and current exploration indicates that veins of this style are cassiterite-bearing and are typical of the mineralised zones.
Drillhole 22GPDD015 was drilled on the periphery of the historical resource area and returned a thick intersection of moderate grade tin (48 metres of 0.15%), with thinner high-grade zones
The drillhole provides support for historical drill hole data and contributes to geological understanding of the Great Pyramid system.
The deposit is currently known over a strike length of more than 500 metres with an average width of approximately 150 metres.
The depth extent of the deposit is unknown with only nine historical drill holes greater than 150 metres deep.
These rare deeper holes encountered encouraging tin mineralization to depths of approximately 300 metres below surface.
Drilling commenced on April 27th, on the initial program of approximately 5,500 metres, with one drill rig currently operating on site.
Results have been received for 3,120 metres, representing results for 18 RC drill holes, 2 diamond cored holes and partial results from 1 diamond cored hole, in addition to results from 2 diamond tails and partial results from 1 other diamond tail.
Assays are being fast tracked and average turnaround to-date has been 24 days.
Geological interpretation is ongoing, however the previously inferred stratigraphic control on the tin grade is supported by preliminary data from the drill holes reported here.
The company's geologists are working with a specialist sedimentologist, structural geologist and geostatistician to develop a 3-dimensional predictive model which will be used to efficiently plan additional deeper drilling to better understand the extent of the Great Pyramid system.
A historical mineral resource estimate was completed in 2012 on the Great Pyramid Project which showed an inferred mineral resource of 10.4 kilotonnes of contained tin.
Management cautions that this estimate is not supported by a technical report completed in accordance with NI 43-101.
The company also completed the acquisition of 100% of the Rattler Range tin project in northeastern Tasmania.
The 32 square kilometre Rattler Range project is a highly prospective tin project located 64 kilometres from the city of Launceston.
Historical records indicate the presence of 47 individual named tin occurrences across a 12 kilometre long, northwesterly oriented mineralized trend that has seen very little on-ground exploration since the 1980s.
High priority initial targets include Bells Hill where multiple mineralized lodes, 1.5 to 6 metres wide, occur over an area of at least 500 metres of strike length.
We have Chris Donaldson, Executive Chairman of TinOne Resources with us today to discuss this news and the company’s plans. Welcome Chris Pause…thank you Chris.
TinOne Resources is one of the Inventa Capital (www.inventacapital.ca) portfolio companies.
The shares, which started trading on the TSX Venture Exchange on January 5th, are trading at $0.085.
For more information, please visit the company’s website, www.TinOne.ca, contact Chris Donaldson, Executive Chairman, at 604-364-2215 or by email at info@TinOne.ca.
