Canada NewsWire
TSX.V: TORC OTCQB: TORCF
VANCOUVER, BC , Feb. 22, 2023 /CNW/ - TinOne Resources Inc. (TSXV: TORC) (OTCQB: TORCF) (" TinOne " or the " Company ") is pleased to announce it has expanded its land position at its Aberfoyle Project (" Aberfoyle " or the " Project ") and now holds tenure comprising a total of 159 square kilometres in the tier one mining jurisdiction of Tasmania, Australia .
- Two additional licenses (Castle Carey EL13/2022 and Vickory Creek EL14/2022) with a total area of 27 square kilometres have been acquired adjacent to the Aberfoyle Project EL27/2004 expanding TinOne's land position to 123 square kilometres in the Aberfoyle project area, where zinnwaldite lithium-bearing altered granite was recently discovered with values up to 0.57% Li 2 O
- TinOne now holds licenses in Tasmania comprising 159 square kilometres within the highly prospective lithium, tin and tungsten Northeastern Tasmania granite province with a further 376 square kilometres currently under application.
- Exploration programs are underway on the recently identified lithium-bearing granites at Aberfoyle as well as at the Great Pyramid tin-tungsten and Rattler Range tin-tungsten-lithium projects.
"We are extremely pleased to have been able to expand our 100% owned tenement position in the highly prospective Northeastern Tasmania province," commented Chris Donaldson , Executive Chairman. "Our technical team is in the field following up on our exciting initial lithium results and continuing our tin programs at Great Pyramid, Aberfoyle and Rattler Range."
EL13/2022 and EL14/2022 were acquired north and south of TinOne's original Aberfoyle exploration license (EL27/2004) in order to provide full access to additional highly prospective areas of granite and adjacent Mathinna Supergroup sedimentary rocks (Figure 2).
The combined 123 square kilometres will be explored as a single project, in conjunction with the geographically separate Royal George area (Figure 2). Together with the Company's Rattler Range and Great Pyramid projects it provides the Company with a commanding position in the tin-tungsten and lithium prospective geological environment of Northeastern Tasmania (Figure 3).
TinOne's technical teams are in the field at the Aberfoyle project undertaking additional rock and soil sampling in conjunction with detailed mapping to further define the extent of the recently discovered lithium-bearing altered granite. This additional geochemical sampling and detailed mapping will be used to define first pass drill targets for lithium.
At the Great Pyramid tin project, a specialist structural geologist and a sedimentologist are undertaking detailed studies to assist in defining controls and geometries of tin zones. These studies will be completed in the coming weeks and are critical in informing future resource estimation and targeting of additional drilling.
Tin-exploration programs are also continuing at the Aberfoyle project with the existing soil sampling, geological mapping and rock sampling being expanded in conjunction with the lithium focussed programs.
TinOne is a TSX Venture Exchange listed Canadian public company with a high-quality portfolio of tin projects in the Tier 1 mining jurisdictions of Tasmania and New South Wales, Australia . The Company is focussed on advancing its highly prospective portfolio while also evaluating additional tin opportunities. TinOne is supported by Inventa Capital Corp.
The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by Dr. Stuart Smith ., Technical Advisor for TinOne. Dr. Smith is a Qualified Person as defined under the terms of National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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; the release of drilling results; and completion of a drilling program.
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 Australia ; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in TinOne's management discussion and analysis. Readers are cautioned against attributing undue certainty to forward–looking statements or forward-looking information. Although TinOne has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. TinOne does not intend, and does not assume any obligation, to update these forward–looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
SOURCE TinOne Resources Corp.
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