TinOne Resources (TSXV:TORC) reports the first drill results from its Great Pyramid Tin project in Tasmania, Australia, with all holes returning tin-bearing intersections. The Great Pyramid Tin project is one of the company’s portfolio of tin projects in the Tier 1 mining jurisdictions of Tasmania and New South Wales, Australia.
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TinOne Resources. Inc. (TSXV:TORC) reported the first drill results from its Great Pyramid Tin project in Tasmania, Australia.
The Great Pyramid Tin project is one of the company’s portfolio of tin projects in the Tier 1 mining jurisdictions of Tasmania and New South Wales, Australia.
Drilling commenced on April 27th, on the initial program of approximately 5,500 metres, with three drill rigs currently operating, including two Diamond Drill rigs and one Reverse Circulation rig.
The initial objective was to test the depth and lateral extension of the historical resource, test a large-scale IP chargeability anomaly adjacent to the historic resource; and obtain grade and continuity data utilising modern drill and analytical techniques, within the area of the historic resource.
Results reported today, from the first 764 metres of the drill program, are predominantly from the upper portions of the project area within the historical resource area and demonstrate consistent tin grades over substantial thicknesses.
They represent complete results for seven reverse circulation drill holes and partial results for one additional RC hole.
All holes returned tin-bearing intersections and provide support for the historical drill data.
Highlights include the following encouraging intersections:
Hole 22GPRC003 which returned 0.25% tin over 39 metres
Hole 22GPRC005 which returned 0.29% tin over 23 metres
Hole 22GPRC006 which returned 0.19% tin over 30 metres, and
Hole 22GPRC007 which returned 0.30% tin over 21 metres
Mineralised intersections were also encountered beneath the historical resource area and demonstrate that in certain areas mineralisation extends to depth below the historical resource area, consistent with historical drill data.
The previous owners of the Great Pyramid project estimated an Inferred Resource reported under the JORC 2012 guidelines, of approximately 10,000 tonnes of tin at a grade of 0.2% tin.
Although the resource is defined by close spaced drilling, the resource was classified by the previous owners as Inferred due to the historic nature of the data.
In addition to the RC drill results reported here, an additional 1,102 metres of diamond drilling has been completed within, lateral to and beneath the historical resource area.
Drill core processing is underway with an initial 209 metres of core dispatched to the laboratory with the assays being fast tracked and a turnaround of 23 days is anticipated.
To date these diamond holes have intersected alteration and mineralisation over variable thicknesses up to 120 metres beneath the historical resource area.
We have Chris Donaldson, Executive Chairman of TinOne 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 $0.125.
For more information, please visit the company’s website, www.TinOne.ca, contact Chris Donaldson, Executive Chairman, at 604-813-3931 or by email at info@TinOne.ca.
