TSX.V: TORC OTCQB: TORCF
DEFINES NEW STYLE OF MINERALIZATION PERIPHERAL TO PROSPECTIVE GRANITES
- Definition of a new style of lithium mineralization at Aberfoyle:
- Select drill core samples of mica-rich sedimentary rocks, host to the prospective Devonian granites, returned up to 0.47% Li2O at the
Storeys Creek target area. - Strong lithium mineralization, hosted in sedimentary rocks at
Storeys Creek , enhances the prospectivity criteria for lithium beyond Devonian aged granites. - Follow-up surface sampling, geological mapping, mineralogical studies and potential drilling, in addition to further sampling of historical drill core, are warranted to fully constrain the lithium potential of the target area.
- Expanded exploration search space: These new results significantly expand the exploration search-space for lithium mineralization at Aberfoyle and elsewhere across the Company's portfolio of tin-tungsten-lithium projects in northeast
Tasmania . - Emerging lithium district: the Company holds a dominant ground position over many prospective lithium-hosting granites in northeast
Tasmania .
"The identification of new lithium mineralization at the
Based on a thorough compilation of historical surface and underground drill data together with historical underground geological and structural mapping, multiple historical drill holes were selected for further review. Holes were prioritised based on the documentation and logging of coarse mica-alteration, which has shown to be locally related to lithium mineralization elsewhere on the Project (see
The key drill holes were located at the Mineral Resources Tasmania (MRT) core storage facility at Mornington in Hobart,
At Mornington, drill core from prioritized holes were laid out, relogged, imaged and select intervals were sampled (either half or quarter core) and submitted to the lab for full multi-element geochemical analyses. Collar information, down hole survey data, lithology, alteration and mineralization data for each hole were digitised from historical reports and were replotted in 3D software to better constrain the spatial representation of each sample. For drill holes lacking collar data, sample locations are inferred from historic underground sections (Figures 2, 3, 4). Seventeen samples were collected from drill core from seven holes at the
Table 1. Select geochemical results from core sampling.
Hole | Sample ID | Core | Li2O | Sn | WO3 | Comments |
U9-38 | TRD006031 | 21 | 0.47 | 0.36 | 0.01 | Hornfels of interbedded sandstone and mudstone of |
U8-1A | TRD006044 | 91 | 0.27 | 0.02 | 0.58 | Interbedded dark grey sandstone with spotted fine |
AU11-4 | TRD006018 | 92 | 0.20 | 0.06 | 0.01 | Variably altered fine-grained white aplite to medium- |
U6-11 | TRD006026 | 99 | 0.13 | 0.02 | 0.01 | Medium to fine-grained white sometimes spotted |
U6-11 | TRD006030 | 91 | 0.12 | 0.01 | 1.00 | Brown metasandstone-dominated section with light |
AU11-4 | TRD006019 | 92 | 0.10 | 0.03 | 0.01 | As per sample TRD006018. |
U11-7 | TRD006032 | 153 | 0.09 | 0.01 | 0.01 | Very sharp contact between dark grey hornfels and |
Highlights from the sampling program include:
Storeys Creek – Three of the highest lithium results were from samples of sedimentary rocks representing the host lithologies to the prospective tin-tungsten bearing Devonian granites. Sample TRD006031 from hole U9-38 returned 0.47% Li2O (2,190 ppm Li) of a mica-rich altered sandstone cut by discrete quartz veins. This sample was collected approximately 100 m above the deeper granite (Figure 2). Sample TRD006044 from hole U8-1A returned 0.27% Li2O (1,275 ppm Li) collected from a sandstone cut by mica-rich veins with associated quartz and sphalerite (zinc sulfide). This sample was collected approximately 50 m above the granite (Figure 3).
The presence of strong lithium mineralization, proximal to the granites atStoreys Creek , improves the Company's exploration model for lithium across the Aberfoyle project. Additional mineralogical work, similar to the initial studies at the Dead Pig target (seeMarch 15 th, 2023 news release) is required to constrain the nature of the sandstone-hosted lithium mineralization. Further sampling (historic drill core) and surface outcrops surrounding theStoreys Creek target are planned to better evaluate the lithium potential of the area.
Aberfoyle Mine – Samples of drill core from historical underground holes at theAberfoyle Mine , located 2.8 km south of theStoreys Creek area (Figure 1), returned anomalous lithium values up to 0.20% Li2O (Figure 4). All samples were collected from mica-altered granite (greisen alteration) with textures similar to other zones of significant lithium mineralisation such as the Dead Pig target located 6.8 km to the west (1.14% Li2O; seeMarch 15 th, 2023 news release). The mineralized granite at theAberfoyle Mine target is partially covered by relatively shallow Permian aged sediments, therefore, additional core sampling and potentially follow-up drilling are required to fully evaluate the scale of the granite-hosted lithium potential of the area.
New insights from this core sampling program together with results from the upcoming follow-up sampling and mineralogical studies will help guide future exploration programs across the Company's portfolio of highly prospective tin-tungsten-lithium projects in northeast
Drill core 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.
Original sections used for Figures 2-4 can be accessed via the Mineral Resources Tasmania Tiger database:
https://www.mrt.tas.gov.au/mrtdoc/ct_mineplan/ABERF_081/ABERF_081.pdf
https://www.mrt.tas.gov.au/mrtdoc/ct_mineplan/ABERF_018/ABERF_018.pdf
https://www.mrt.tas.gov.au/mrtdoc/ct_mineplan/ABERF_033/ABERF_033.pdf
https://www.mrt.tas.gov.au/mrtdoc/ct_mineplan/ABERF_222/ABERF_222.pdf
The Aberfoyle project area straddles the boundary between the Silurian to Devonian Mathinna Supergroup sedimentary rocks and the Devonian
Historical records and drilling indicate the mineralized 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
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 historical 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 historical 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.
1 Data relating to historical mine production were sourced from Collins and Williams, 1986. Metallogeny and tectonic development of the Tasman Fold Belt System in |
The Company announces that
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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