TinOne Resources Inc. (TSX-V: TORC) (OTCQB: TORCF) is pleased to provide its second batch of results from its 100%-owned Great Pyramid Tin Project located in the tier one mining jurisdiction of Tasmania, Australia. The ongoing drill program has returned outstanding high-grade results highlighted by hole 22GPRC012 which returned 0.51% Sn over 78 metres, Including 1.09 % Sn over 23 metres from near surface in a new zone. Great Pyramid is the Company’s most advanced and active project in its portfolio of high-quality tin assets and more results are expected in the coming weeks.

Highlights:

• Outstanding high-grade intersections (>.25%) include:
  • 22GPRC012 returned 0.51% Sn over 78 metres
    • Including 1.09 % Sn over 23 metres
  • 22GPRC016 returned 0.29% Sn over 51 metres
    • Including 0.43% Sn over 20 metres
  • 22GPRC005 returned 0.26% Sn over 30 metres
  • 22GPRC003 returned 0.25% Sn over 39 metres
• All holes returned tin-bearing intersections and provide support for historical drill data
• Mineralised zones shown to extend beneath and peripheral to historical resource

“These current results from Great Pyramid are some of the best ever reported from the Project and demonstrate exceptional grade and thickness in areas outside the historical resource area,” commented Chris Donaldson, Executive Chairman. “The drilling continues to deliver consistent results within the historical resource area, and more importantly identifying significant mineralised zones outside the historical resource area. Our geological team is working to further develop our grade distribution model and build our geological interpretation to assist further targeted drilling and the integration with the extensive historical database.”

Results have been received for 2,128 metres of the Company’s ongoing 5,500 metre drilling program at the Great Pyramid Project. These results represent complete results for 15 Reverse Circulation drill holes, partial results for one additional RC hole and results from one diamond cored hole. Assays are being fast tracked.

Drilling commenced at the Project on April 27, 2022.  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,
• Provide sufficient drill coverage to verify/authenticate historical drilling and expand/upgrade the mineral resource.

In addition to the RC drill results reported here, an additional 2,037 metres of diamond drilling has been completed within, lateral to, and beneath the historical resource area. Drill core processing is underway with an initial 528 metres of core despatched to the laboratory.

Results reported here are from below, peripheral too and within the historical resource¹ area (Table 1). Drill holes below and peripheral to the historic resource model have returned intersections consistent with or higher grade than the historical model, including high grade intersections in 22GPRC012 from near surface outside the current resource. Deeper diamond drilling (assays pending) has confirmed the presence of mineralisation to considerable depth below the historical resource model and are consistent with historical drill data² which returned mineralised intervals to the limit of drilling, up to 300m below surface.

Table 1: Great Pyramid RC drill results. More significant results are shown in bold.

About the Great Pyramid Tin Project

Geological Setting

The Great Pyramid deposit is located around a topographical feature known as Pyramid Hill and is hosted by Silurian to Devonian Mathinna Supergroup sandstones. The mineralization is formed by closely spaced sheeted northeast trending, cassiterite (SnO₂) bearing veins associated with silicification and sericite-pyrite alteration. The deposit style and regional comparisons suggests that a tin-fertile granite exists at depth below the deposit, however this has not been encountered in drilling and the deposit is open at depth. Geological interpretation indicates that certain sedimentary units within the folded Mathinna Supergroup sediments are more favourable hosts and diamond drilling being undertaken by the Company during the current campaign, combined with numerical modelling, will assist in developing a deeper understanding of controls on grade for follow up drilling.

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.

Historic Resources and Drill Data¹

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 (Table 2). The estimation utilised 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.

Table 2: Great Pyramid Historical Inferred Mineral Resource¹

The Inferred Resource was estimated using Multiple Indicator Kriging method of 1.5 metre down-hole composites within a mineralized domain interpreted from tin grade. The estimate is restricted to the area of close spaced drilling and 90% of the resource occurs within 40 metres of surface. Although the limited deeper drilling has encountered mineralized material this was not included in the resource. Additional drilling utilising modern drill techniques, analytical techniques and QA/QC will be required to re-estimate the resource and report under NI 43-101.

Quality Assurance / Quality Control 

Drill core and RC samples were shipped to ALS Limited in Brisbane, Australia for sample preparation and for analysis. The ALS, Brisbane facilities are ISO 9001 and ISO/IEC 17025 certified. Tin and tungsten are analysed by ICP-MS following lithium borate fusion (ALS method ME-MS85), overlimit results are reanalysed by XRF (ALS method XRF15b).  Forty-eight element multi-element analyses are conducted by ICP-MS with a four-acid digestion (ALS method ME-MS61).

Control samples comprising certified reference samples, duplicates and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s quality assurance / quality control protocol.

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.

Figure 1:       Location of the Company’s projects in the mining friendly jurisdiction of Tasmania (CNW Group/TinOne Resources Corp.)

Figure 2:      Great Pyramid drilling plan. Holes reported in this release are labelled. Historic drill collars and traces (for angled holes) are also shown (CNW Group/TinOne Resources Corp.)

Figure 3:      Great Pyramid oblique cross section showing holes reported in this release and historic drill holes. Vertical cross section, 50m window. (CNW Group/TinOne Resources Corp.)

Figure 4: Great Pyramid diamond core (22GPRC003 403.8-406.9m), beneath historic resource area, assay results pending. Sheeted quartz-carbonate ± sulphide veins in strongly silicified, medium to coarse grained sandstones. Historical exploration indicates that veins of this style are cassiterite-bearing and are typical of the mineralised zones. (CNW Group/TinOne Resources Corp.)

Figure 5: Great Pyramid diamond core (22GPRC006 179.9 – ~181.5m), beneath historic resource area, assay results pending. Closely sheeted chlorite-pyrite-chalcopyrite veins (± tourmaline) in strongly silicified sandstone. Historical exploration indicates that veins of this style are also cassiterite-bearing and are typical of the mineralised zones. (CNW Group/TinOne Resources Corp.)