VANCOUVER, British Columbia, Sept. 07, 2022 (GLOBE NEWSWIRE) -- TinOne Resources. Inc. (TSXV:TORC) reported its second batch of drill results 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.
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Drilling commenced on April 27th, on the initial program of approximately 5,500 metres, with three drill rigs currently operating, including two Diamond Drill rigs and one Reverse Circulation rig.
Results have been received for 2,128 metres, representing complete results for 15 reverse circulation drill holes, partial results for one additional RC hole and results from one diamond cored hole. An additional 2,037 metres of diamond drilling has been completed within, lateral to, and beneath the historical resource area. Assays are being fast tracked with an initial 528 metres of core forwarded to the lab.
Outstanding high-grade intersections include:
- Hole 12 returning 0.51% Tin over 78 metres, including 1.09% Tin over 23 metres
- Hole 16 returning 0.29% Tin over 51 metres, including 0.43% Tin over 20 metres
- Hole 5 returning 0.26% Tin over 30 metres, and
- Hole 3 returning 0.25% Tin over 39 metres.
The initial objective was to test the depth and lateral extension of the historical resource, test a large-scale IP chargeability anomaly adjacent to the historic resource, and provide sufficient drill coverage to verify and authenticate historical drilling and expand and upgrade the mineral resource.
The previous owners of the Great Pyramid project estimated an Inferred Resource reported under the JORC 2012 guidelines, of approximately 10,000 tonnes of tin at a grade of 0.2% tin. Although the resource is defined by close spaced drilling, the resource was classified by the previous owners as Inferred due to the historic nature of the data. Management cautions these estimates are considered historical in nature and were prepared by previous property owners and that a qualified person has not done sufficient work to classify the historical estimate as current.
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 $0.10. 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 info@TinOne.ca.
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