Tinone drills 0.25% tin over 39 metres at Great Pyramid, Tasmania

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Tinone Resources Inc. [TORC-TSXV] reported the first drill results from its 100%-owned Great Pyramid tin (Sn) project located in the Tier 1 mining jurisdiction of Tasmania, Australia.

Highlights include all holes returning tin-bearing intersections and provide support for historical drill data. Mineralized zones were shown to extend beneath historical resource. Highly encouraging intersections include drill hole 22GPRC003 that returned 0.25% Sn over 39 metres. 22GPRC005 returned 0.29% Sn over 23 metres. 22GPRC006 returned 0.1% Sn over 30 metres. 22GPRC007 returned 0.30% Sn over 21 metres.

Results have been received for 764 metres of the ongoing 5,500-metre drilling program at its Great Pyramid project. These results represent complete results for seven Reverse Circulation (RC) drill holes and partial results for one additional RC hole. Assays are being fast tracked and average laboratory turnaround to-date has been 23 days.

Drilling commenced at the Great Pyramid project on April 27, 2022, with three drill rigs currently operating on site, including two Diamond (DD) rigs and one RC rig. The initial program consists of approximately 5,500 metres and has several objectives: test the depth and lateral extensions of the historical resource; test a large-scale IP chargeability anomaly adjacent to the historic resource; and obtain grade and continuity data utilising modern drill and analytical techniques, within the area of the historic resource.

“We are extremely pleased to report our first results from our Great Pyramid tin project so quickly after listing,” commented Chris Donaldson, Executive Chairman. “The results have demonstrated robust grade continuity within the historical resource at grades equal to or above historical grades. In addition, the results provide further confidence that mineralisation extends below the historical resource. Ongoing work will fill gaps in the data coverage, particularly at depth, and allow us to develop our grade distribution model and build our geological interpretation to integrate with the extensive historical database.”

Results reported here are predominantly from the upper portions of the project area within the historical resource1 area and demonstrate consistent tin grades over substantial thicknesses. Mineralised intersections were also encountered beneath the historical resource1 area and demonstrate that in certain areas mineralisation extends to depth below the historical resource area, consistent with historical drill data.

In addition to the RC drill results reported here, an additional 1,102 metres of diamond drilling has been completed within, lateral to and beneath the historical resource area. Drill core processing is underway with an initial 209 metres of core despatched to the laboratory. To-date these diamond holes have intersected alteration and mineralisation over variable thicknesses up to 120m beneath the historical resource area.

The deposit is currently known over a strike length of more than 500 metres with an average width of approximately 150 metres. The depth extent of the deposit is unknown with only nine historical drill holes greater than 150 metres deep. These rare deeper holes encountered encouraging tin mineralization to depths of approximately 300 metres below surface2.

The previous owners of the Great Pyramid project estimated an Inferred Resource reported under the JORC 2012 guidelines. This resource contains approximately 10,000 tonnes of tin at a grade of 0.2% tin. The estimation utilized close spaced historic percussion (~85%) and lesser diamond drill holes with drill spacing in the estimation area typically 15 x 30m and locally closer. 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. The estimate was reported in the independent geological report prepared by Mining One Pty Ltd for TNT Mines Ltd, dated June 26, 2017.

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