Tinone reports historical samples with lithium up to 0.26% li2o at its rattler range tin project, Tasmania, Australia

Highlights

• Surface rock samples taken by previous explorers at its Rattler Range project returned values of 0.26% Li₂O and 0.21% Li₂O
• Other samples returned between 0.01% and 0.2% Li₂O
• The samples were recorded as mica-rich, greisen altered granite
• These samples are associated with similar granites to the lithium-bearing samples reported by TinOne at its Aberfoyle project, supporting the concept that the northeastern Tasmania tin-tungsten province may also be a fertile lithium province

“We are extremely excited to have located these historical samples so soon after our own discovery of lithium-bearing altered granite at our Aberfoyle project, more than 50 kilometres away,” commented Chris Donaldson, Executive Chairman. “Australia was ranked as the world’s leading producer of lithium in 2022, and although it’s early days for lithium exploration in northeastern Tasmania, the geology is favourable for lithium deposits and our field teams are active now in defining the extent and grades of the prospective geology.”

Key Results

In the course of compiling historic data from its Rattler Range project TinOne’s technical team found reference to an historical exploration program in the area in 2016-2017 that returned highly elevated lithium values.  The program was extremely limited in scale and consisted of the collection of thirteen rock samples from nine locations in the Rattler Range area and the taking of fifteen quarter core samples from four historical drill holes in the Mount Terror-Mount Paris area.

The details of these thirteen rocks are shown in Table 1 and Figure 3 which show that the elevated lithium from this program is clustered in the Rattler Hill area with three of the five samples returning >0.1% Li₂O and a maximum of 0.26% Li₂O. One sample from 8 km to the northwest returned 0.1% Li₂O in the Mount Terror area.  Samples are predominantly sub-cropping with three samples of float collected and are typically described as greisen[1] or containing mica alteration.  All samples with Li₂O values >0.04% are from sub-crop.

The highest value obtained from the core resampling program was 0.1% Li₂O from a 20 cm sample taken from 69.7 metres downhole in drillhole MT4. The sample is described as “quartz-mica greisen with wall-rock xenoliths”. The original drill logs from 1981 indicate that whole core was taken for tin analysis through some intervals, therefore the 2017 sampling may not have sampled the most greisenised material.

To the knowledge of TinOne no other lithium-focussed exploration has been carried out at Rattler Range or any of its northeastern Tasmania projects. These historical samples are hosted by mica-altered granite in a separate granite body more than 50 km from TinOne’s recent lithium-bearing samples at its Aberfoyle project (see TinOne news release February 8, 2023). These granites are known to be of similar age (Mineral Resources Tasmania[2]), similar geochemistry and are associated with similar tin-tungsten occurrences. 

Next Steps

TinOne has undertaken tin-focussed surface sampling and mapping in the Rattler Range project and is currently awaiting geochemical results from that program. In addition, targeted follow-up of these recently unearthed results will be undertaken to take additional samples and to define the extent of the prospective alteration areas.

Technical Information

The data disclosed in this news release is related to historical exploration results. The reader is cautioned that the historical results are based on prior data and reports prepared by previous property owners. TinOne has not undertaken any independent investigation of the sampling nor has it independently analyzed the results of the historical exploration work in order to verify the results. The reader is cautioned not to treat them, or any part of them, as current and that a qualified person has not done sufficient work to verify the results and that they may not form a reliable guide to future results.  No independent QA/QC protocols are known for these samples and as such analytical results may be unreliable. TinOne considers these historical drill results relevant as TinOne is using this data as a guide to plan exploration programs. TinOne’s current and future exploration work includes verification of the historical data through further exploration.

About the Rattler Range Project

The Rattler Range project, consisting of a 32km² exploration license (EL10/2019), is a highly prospective project in northeastern Tasmania, Australia and located only 64km from the city of Launceston.  Historical records[1] indicate the presence of 47 individual named tin occurrences across a 12km long, northwesterly oriented mineralized trend that has seen very little on-ground exploration since the 1980s. The district contains hard rock greisen and vein mineralization in a cupola zone of highly fractionated, evolved granite.

High priority initial targets include Bells Hill where multiple mineralized lodes, 1.5 to 6 metres wide, occur over an area of at least 500m of strike length. No systematic exploration has been conducted and only 2 drill holes have been completed at the prospect. Other priority targets include the multi-kilometre scale tin-bearing alteration zones at Ruby Flats, Walsh’s, Mammoth and Mt Paris.

About TinOne

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.

Qualified Person

The Company’s disclosure of technical or scientific information in this press release has been reviewed and approved by Dr. Stuart Smith., Technical Adviser 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.

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS

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; and future mineral exploration, development and production.

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.