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DELTA LITHIUM LIMITED — Capital/Financing Update 2018
Dec 13, 2018
64775_rns_2018-12-13_c539cbff-55ea-46fd-9b0c-fd431eb14d1a.pdf
Capital/Financing Update
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TNTMINES LIMITED ABN 67 107 244 039
1202 Hay Street WEST PERTH WA 6005
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P: +61 8 6319 1900 W: tntmines.com.au
14 December 2018
ASX Code: TIN
New Rifle Range Drilling Complete at Aberfoyle Tin‐Tungsten Project
Highlights
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Diamond exploration drill hole completed at greenfield Rifle Range Prospect, located on the Aberfoyle Project in Tasmania
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Exploration activities targeting tin–tungsten mineralisation in unexplored vein system parallel to historic Lutwyche‐Kookaburra tin prospect
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Preliminary logging suggests Rifle Range quartz vein array intersected at 99‐128m downhole, with detailed logging underway
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Wider Project offers excellent potential for repeated tin‐tungsten mineralisation system similar in style to previously mined veins
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Additional exploration targets being developed to accelerate further greenfields exploration, targeting vein structures in close proximity to historic high‐grade Aberfoyle (tin) and Storey’s Creek (tungsten) mines
TNT Mines Ltd (ASX: TIN) (“TNT Mines” or “Company”) today announced that a greenfield exploration drill hole had been completed at the Company’s highly‐prospective Aberfoyle tin project in north‐east Tasmania (Figure 1).
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Figure 1. Location of TNT Mines’ Tasmanian tin‐tungsten projects
[email protected] |www.tntmines.com.au
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The reconnaissance exploration drill hole was designed as an initial test of the Rifle Range prospect, one of the Company’s greenfield tin‐tungsten targets generated during the year.
The Company is focused on systematic testing of under‐explored targets around the historic Aberfoyle and Storey’s Creek tin‐tungsten mines, and the unmined Lutwyche‐Kookaburra quartz vein system.
Preliminary logging of the Rifle Range drill hole suggests the targeted quartz vein array has been intersected over highly‐encouraging widths, with the Company targeting high‐grade tin and/or tungsten systems which run parallel to previously mined veins at Aberfoyle and Storey’s Creek.
Rifle Range is located 300m north of Lutwyche‐Kookaburra (Figure 2) and represents a previously undrilled ~1km long partially‐exposed vein system that is accompanied by pathfinder Zn‐Cu soil anomalism. The prospect parallels the historic Lutwyche Prospect veins and is at the same orientation as the highly productive Storey’s Creek vein system (past production 1.1 Mt @ 1.09% WO3 and 0.18% Sn ).
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Figure 2. Location of the Rifle Range Prospect relative to historical Aberfoyle and Lutwyche‐Kookaburra veins.
The Lutwyche‐Kookaburra vein system comprises narrow but strongly mineralised veins that were accessed via surface shafts and from existing underground development extending from the Aberfoyle mine, 350m below surface. The combined vein system has been previously considered to offer a target comparable to Aberfoyle (past production 2.1 Mt of @ 0.91% Sn and 0.28% WO3 ).
[email protected] |www.tntmines.com.au
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At Rifle Range, an angled HQ/NQ diamond drill hole, 18RRD001., was completed to 227.5m EOH depth on 12 December 2018. The hole was designed to test for vertical metals zonation in the NW trending vein array (Figure 3), with preliminary logging showing that the hole intersected a set of quartz veins corresponding to the interpreted 50‐60° dip of the vein between 99 and 128.5m downhole. A second interval of quartz veining and silicification was intersected between 197 and 216m down hole. The second zone does not correspond with any known surface expression. Detailed logging is underway ahead of selection of cutting intervals.
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Table 1 Drill hole details.
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Figure 3 Historic surface mapping showing location of the Rifle Range vein exposures relative to historical drilling. Location of current hole 18RRD001 shown.
[email protected] |www.tntmines.com.au
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Commenting on the exploration activity, TNT Mines Chairman Brett Mitchell said:
“We are strongly encouraged by the completion of drilling at Rifle Range, as TNT Mines continues to evaluate the size and scope of mineralisation at the historic Aberfoyle project.
“Additional exploration targeting is already underway with the Company looking to determine its next greenfields exploration program following this recent round of drilling.”
Since listing in November 2017, field and compilation work has generated quality greenfield drill targets at the Aberfoyle Project, a renowned high‐grade tin and tungsten field where the Company sees strong potential for locating additional metals‐bearing vein structures.
The Company’s compilation confirms that limited exploration drilling has been carried out beyond the limits of previous mining, and that the surrounding partly‐exposed geological sequences have good potential for blind and/or vertically zoned mineralised veins.
The exploration campaigns undertaken by the Company over the course of 2018 have ensured that the Aberfoyle and nearby Great Pyramid project remain in good standing and are fully compliant with Mineral Resources of Tasmania permit conditions.
For further information, please contact:
| TNT Mines LtdBrett MitchellNon-Executive Chairman+61 8 6319 1900[email protected] | TNT Mines LtdLauren NelsonCompany Secretary+61 8 6319 1900[email protected] | Media contact:Chapter One AdvisorsDavid Tasker+61 433 112 936[email protected] |
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The information in this release that relates to Exploration Results, Minerals Resources or Ore Reserves, as those terms are defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserve", is based on information compiled by Mr. Nick Castleden, who is a director of the Company and a Member of the Australian Institute of Geoscientists. Mr. Nick Castleden has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserve". Mr. Nick Castleden consents to the inclusion of the matters based on his information in the form and context in which it appears.
Past production and exploration results referring to the Projects reported in this announcement have been previously prepared and disclosed by TNT Mines Limited in accordance with JORC Code 2004. The Company confirms that it is not aware of any new information or data that materially affects the information included in these market announcements. The exploration results previously prepared and disclosed under the JORC 2004 have not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. The Company confirms that the form and context in which the Competent Person’s findings are presented here have not been materially modified from the original market announcement.
[email protected] |www.tntmines.com.au