TSX.V: TORC OTCQB: TORCF
VANCOUVER, BC, July 11, 2023 /CNW/ - TinOne Resources Inc. (TSXV: TORC) (OTCQB: TORCF) (Frankfurt: 57Z0) ("TinOne" or the "Company") is pleased to announce that it been granted a total of 243 km2 of new exploration tenure in northeast Tasmania. In addition, the Company has applied for another 133 km2, which has been recommended to be granted in the coming months. The road-accessible tenements, collectively called the Mount Maurice Project, are considered prospective for tin and lithium mineralization. While northeast Tasmania has historically been a tin and tungsten producing region, recent exploration by several companies surrounding TinOne's tenements have focussed efforts on lithium prospectivity.
Highlights
Dominant land position: The acquisition of the Mount Maurice project strengthens the Company's position in northeast Tasmania focused on tin and lithium exploration.Prospective for tin and lithium mineralization: The Mount Maurice project is centered on a complex granite batholith containing greisen zones considered prospective for tin and lithium mineralization.
Road accessible project: A forestry road network provides access across the project.
"We believe northeast Tasmania is a prime jurisdiction for the discovery of tin and lithium deposits," commented Chris Donaldson, Executive Chairman. "Our recent exploration results, specifically the discovery of lithium mineralization at our Aberfoyle project, just 20 kilometres south of Mount Maurice, has led us to re-evaluate the lithium potential of many Devonian-aged tin-tungsten bearing granites across northeast Tasmania. This evaluation led us to stake the Mount Maurice project an area that has received little modern exploration but contains documented greisen alteration zones hosted in prospective Devonian aged granites. We look forward to getting boots on the ground and exploring this new project."
Mineral Exploration Licences
The southern edge of the Mount Maurice tenements are approximately 20 kilometres north of the company's Aberfoyle Sn-W-Li project (see March 15th, 2023 news release; Figure 1). The road accessible claims are underlain by the 35 by 15 kilometre polyphase Scottsdale granitic batholith considered to be prospective for tin and lithium mineralization. The area has seen very limited historic exploration besides a regional stream sediment geochemical surveys, focused geological mapping, and minor trenching. Trenching results from the Mount Maurice Sn-Cu showing, central to the project, returned grades of up to 0.78% Sn and 1.4% Cu from quartz veins cutting greisenised (coarse mica altered) granite (Ellis, 1984). These mineralized occurrences have yet to be drill tested and lithium analyses have never been performed on any of the rock or stream sediment samples. A phase 1 reconnaissance-style exploration program comprised of project-wide stream sediment surveys, prospecting and rock-chip sampling is currently being planned.
The project was acquired via staking and represents an accretive addition to the Company's exploration-stage project portfolio in northeast Tasmania. The northern tenement (EL36/2022) at Mount Maurice has been granted while the southern tenement (EL39/2022) is under application and is expected to be granted in the coming months.
References
Ellis, P.D., 1984, Relinquishment Report, Mt. Maurice, EL 43/82, Northeast Tasmania, Open File,
