TinOne Resources’ latest assay results show high-grade mineralisation below the Great Pyramid’s historical resource.
Tin mineralisation at Great Pyramid has been known for over one hundred years. Despite some small-scale mining, significant exploration didn’t begin until the 1960s. In 2014, a mineral resource was complete for the previous owners, TNT Mines, with an Inferred Resource of 5.2Mt of ore at a grade of 0.2% Sn. Despite this work, tin mineralisation remains open at depth, with much of the resource being within 40m of the surface.
A drill campaign was launched earlier this year to confirm this resource, and test the depth and lateral extension of the mineralized zone. Results so far have been positive, both confirming and returning higher tin intersections to the historical resource.
These latest drill holes are the deepest results released. Prior to this, the deepest hole drilled was 263.5m, whereas drill hole 22GPRC003 reached 430m, and delivered “outstanding results”: tin mineralisation is reported in three significant intercepts from depths of 308m to 372m, at grades ranging from 0.22-0.46% Sn. Chris Donaldson, Executive Chairman of TinOne Resources commented the result “demonstrates the continuation of the system to depth with excellent grade” – a significant step towards expanding the resource.
Other results released were also positive, continuing to confirm the historic resource and supported ongoing work to determine stratigraphic control of the tin mineralisation.
Our view: With the key objectives of the drill programme to confirm and expand the historic resource, these recent results do just that. Mineralisation at depth is a positive sign to expand the resource and suggests the theorised tin fertile granite existing beneath the historic resource to be correct.
The most recent confirmatory results also add confidence that TinOne can convert the historic resource to a JORC-compliant Mineral Resource – although the historic resource at has a number of close drill holes, the data cannot be used for a JORC-compliant Mineral Resource until TinOne confirms the data.
TinOne Resources is a member of ITA’s Explorers and Developers Group.