TSX.V: TORC OTCQB: TORCF
- Definition of a new zone of broad lithium-in-soil anomalism:
- The Dalrymple area is 9 km southeast of the Dead
Pig-Guinea Pig anomaly and measures approximately 2.6 by 1.2 km. - A coherent anomaly is emerging near the southeast extent of the Dalrymple area with peak lithium in soils of 1,730 ppm (0.37% Li2O).
- Infill and additional soil sampling are warranted to fully constrain the size of the anomalous footprint.
- Significant lithium potential: The presence of broad zones of lithium-in-soil anomalism suggests the Aberfoyle project is emerging as a significant lithium exploration play. Prior to the Company's 2022-2023 exploration programs, Aberfoyle has never been targeted for lithium mineralization.
- Exploration through a new lens: New results from
Aberfoyle will be used to guide lithium-focused exploration initiatives across the Company's highly prospective portfolio of lithium-tin-tungsten projects in northeastTasmania .
"The final results from our recently completed reconnaissance-style soil sampling program at
Reconnaissance-style soil sampling has been completed across the
The soil geochemical data define multiple broad zones of lithium anomalism (Figure 1) highlighted by:
- The newly defined Dalrymple area measures 2.6 by 1.2 km at the 220 ppm (0.047% Li2O) cutoff. The broad zone of lithium anomalism is open to the south and northeast and is more coherent to the southeast, although additional sampling across the area is warranted to fully constrain the size of the anomaly. Only 13 rock samples have been collected across this broad soil anomaly (up to 0.06% Li2O), which were sampled primarily for tin mineralization.
The prospective Devonian granites at Dalrymple are partially covered by relatively shallow (<80 m thick) Permian aged sediments (Figure 1). The occurrence of highly anomalous lithium in soil immediately adjacent to the boundary between the lithium-bearing granite and the cover rocks indicates the potential for lithium anomalism to persist under cover at depths amenable to shallow drilling. - The Dead
Pig-Guinea Pig anomaly measures 2.3 by 0.8 km at the 220 ppm (0.047% Li20) cutoff. Rock samples collected from across the anomaly returned Li2O values of up to 2.0% (float) and 1.1% (outcrop) with 33 samples yielding values over 0.1% Li2O (465 ppm Li) (seeApril 26 th, 2023 news release). Rex Hill east area spans four 400 m spaced sample lines where the highest Li values (e.g., 416 ppm Li) are from the eastern ends of the lines. The emerging anomaly measures 1 km north to south and is open to the east.- Follow-up geological mapping and rock sampling together with infill and expansion, tighter-spaced soil lines will be completed across the new soil anomalies to better define their footprints and develop vectors to higher-grade zones.
Detailed multi-element analysis of all soil geochemical data and integration with new geological and structural mapping and new rock geochemical data will be completed and the results are expected to define potential drill targets at Aberfoyle. Importantly, new insights from this work will also help guide future exploration programs across the Company's portfolio of highly prospective tin-tungsten-lithium projects in northeast
The Company is also currently awaiting assay results from samples of historic drill core from
Soil samples reported here were collected by experienced field assistants using hand sampling techniques with a depth ranging from 30 to 100cm, with an average of 59cm depth. Samples were coarsely sieved in the field with typically 0.5 to 1 kg despatched to the laboratory. Samples were placed in pre-numbered, calico bags and then into large rice sacks which were sealed for shipping. On receipt by the laboratory, they were dried and sieved to -180µm (-80 mesh) with both fractions retained (ALS method PREP-41).
Soil samples were delivered to ALS Limited in Burnie,
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.
The
Historic records and drilling indicate the mineralized vein system at
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
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
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.
TinOne is a
The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by
Neither
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
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