VANCOUVER, British Columbia, Nov. 24, 2022 (GLOBE NEWSWIRE) — 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.
For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company, along with video comments from Chris Donaldson, Executive Chairman of TinOne Resources. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “TinOne” in the search box.
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. Please refer to the video for more details on the drill core.
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.
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.
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 604-813-3931 or by email at [email protected].
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