TINONE EXPANDS ZONE OF LITHIUM MINERALIZATION AND DISCOVERS HIGHER GRADE SAMPLES UP TO 1.14% Li2O AT ITS ABERFOYLE PROJECT IN TASMANIA, AUSTRALIA

TINONE EXPANDS ZONE OF LITHIUM MINERALIZATION AND DISCOVERS HIGHER GRADE SAMPLES UP TO 1.14% Li2O AT ITS ABERFOYLE PROJECT IN TASMANIA, AUSTRALIA

TSX.V: TORC   OTCQB: TORCF

TinOne Resources Inc. (TSXV: TORC) (OTCQB: TORCF) ( Frankfurt : 57Z0) (" TinOne " or the " Company ") is pleased to announce that further rock sampling has confirmed and expanded the previously reported lithium discovery at its 100%-owned, 9,600 hectare Aberfoyle Project (" Aberfoyle " or the " Project ") located in the tier-one mining jurisdiction of Tasmania, Australia .

Highlights

  • Follow-up surface rock sampling at the Dead Pig and Guinea Pig prospects has returned analyses of up to 1.14% Li 2 O: a total of 43 rock samples were collected in an area of approximately 1 square kilometre (Figures 1, 2 and 3) where eleven samples returned grades ≥0.5% Li 2 O.
  • Emerging lithium district: the Company holds a dominant ground position over the prospective lithium-hosting granites in north-east Tasmania .
  • Project is underexplored: The Project has never been targeted for lithium mineralization and has also not seen modern systematic exploration for tin and tungsten.
  • Complementary research has commenced: Mineralogical research has commenced in conjunction with the world-renowned Centre for Ore Deposit and Earth Sciences at the University of Tasmania (" CODES ").

"We are very excited with the lithium grades achieved to date at Aberfoyle ," commented Chris Donaldson , Executive Chairman. "   Results   confirm the existence of significant lithium mineralization in north-east Tasmania in a road accessible area that supports resource development. Importantly, we believe that we control a dominant land position over the key prospective granites for lithium mineralization in the state. The discovery of strong lithium mineralization of up to 1.14% Li 2 O at the Three Pigs prospect represents an important milestone for the Company and complements a portfolio of projects with high tin prospectivity.   In light of these latest results, we intend to accelerate the lithium exploration activities at our properties in northeast Tasmania while continuing to advance our exciting tin projects."

Key Results

Follow up sampling at the Dead Pig and Guinea Pig prospects have confirmed the earlier discovery of lithium-bearing rocks. A further 43 rock samples were collected over an area of approximately 1 square kilometre at the Dead Pig and Guinea Pig prospects where previous reconnaissance sampling returned five samples with elevated lithium values of 0.1% Li 2 O or above with a maximum of 0.57% Li 2 O (see the Company's news release dated February 8, 2023 ). This new round of sampling has returned eleven samples with Li 2 O > 0.50% and a maximum value of 1.14% Li 2 O.

Sampling to date has defined an area of approximately 12 hectares within which the >0.20% Li 2 O samples occur (Figure 3). Preliminary interpretations indicate that the higher-grade mineralization occurs in NNW-trending parallel zones of so far defined up to 250 m in strike length. Further work is required to better define the surface morphology of the mineralization and the width of mineralized zones.

Greisen alteration of the type sampled at Aberfoyle is a typical alteration style associated with many tin deposits globally and is also associated with certain large scale lithium deposits, where the mica alteration minerals are lithium-bearing. Lithium grades (expressed as Li 2 O) in these mica-hosted deposits are typically in the range 0.3-0.7% Li 2 O.

Table 1. Results and sample descriptions for surface rock samples with Li 2 O grades greater than 0.5%.

Sample ID

Li 2 O

Sample Description

GM10333

1.14 %

Greisen vein showing planar contact with wall rock granite. Finely crystalline, dark grey mica
and lesser quartz.

GM10353

0.84 %

Coarse greisen. Dull green-grey colour with translucent to grey quartz and very fine green-grey
mica.

GM10349

0.78 %

Hard, dense, translucent to pale grey quartz with dull mid-grey mica

GM10358

0.75 %

Finely crystalline, massive greisen. Dull dark blue grey colour with translucent to grey quartz
and very fine green-grey mica.

GM10348

0.70 %

Coarse greisen. Dull green-grey colour with translucent to grey quartz and very fine green-grey
mica.

GM10352

0.68 %

Coarse greisen. Dull green-grey colour with translucent to grey quartz and very fine green-grey
mica.

GM10339

0.66 %

Massive greisen. Translucent to pale grey quartz-topaz? with very fine, green-black mica.
Speckled. Disseminated pyrite/chalcopyrite/malachite clots and limonite leach voids.

GM10354

0.65 %

Coarse greisen. Dull green-grey colour with translucent to grey quartz and very fine green-grey
mica.

GM10331

0.63 %

Float - cobble. White and dark grey very coarse grained greisen. Translucent quartz and dark
green-black mica and minor feldspar with remnant extrusive texture.

GM10343

0.59 %

Coarse greisen. Dull green-grey colour with translucent to grey quartz and very fine green-grey
mica.

GM10350

0.59 %

Coarse greisen. Dull green-grey colour with translucent to grey quartz and very fine green-grey
mica.


Next Steps

TinOne's field team continues to undertake geological mapping and additional systematic and targeted rock sampling in the areas identified to-date and in other areas of similar altered granite known from historic records. In order to define the extent of anomalous lithium within soils derived from the granite host, soil sampling in these areas has been completed for a large part of EL27/2004 with first results expected imminently.

In addition to the ongoing work in the lithium-anomalous areas identified on EL27/2004 to date, the Company plans a program of mapping and sampling on the southern outlier part of EL27/2004 at Royal George (Figure 2). This part of the tenement covers an area around the historic Royal George tin mine and is hosted by a similar tin granite to the Dead Pig area. As such, the area is considered highly prospective for both lithium and tin. There has been no effective on-ground exploration in this area for approximately four decades.

The Company has provided samples to CODES for mineral chemistry analytical work to determine the distribution of lithium within the minerals that comprise the lithium-bearing rocks. CODES has an ongoing project entitled "Tasmanian Tin Granites" and has access to highly skilled personnel with significant experience and knowledge in the field of tin granites and geometallurgical studies. This analytical work will inform future studies into the metallurgical characteristics of the lithium mineralization.

Results from ongoing rock sampling are expected in the coming weeks and will be released as soon as they are received.

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

Figure 1: Location of the Company's projects in the mining friendly jurisdiction of Tasmania

Figure 2: Location plan showing lithium prospect and anomalies on tenement EL27/2004 (CNW Group/TinOne Resources Corp.)

Figure 2: Location plan showing lithium prospect and anomalies on tenement EL27/2004

Figure 3: Location of samples with high lithium in the Dead Pig – Guinea Pig area, also showing old prospecting workings identified by field mapping and from LiDAR. The zone of elevated lithium (>0.20% Li2O) is constrained geologically on the western side, however remains open in all other directions. (CNW Group/TinOne Resources Corp.)

Figure 3: Location of samples with high lithium in the Dead Pig – Guinea Pig area, also showing old prospecting workings identified by field mapping and from LiDAR. The zone of elevated lithium (>0.20% Li 2 O) is constrained geologically on the western side, however remains open in all other direction   s.

Figure 4: Photographs of lithium-bearing rocks from this round of sampling. GM10333 – the right half of the sample is predominantly fine-grained zinnwaldite with coarser quartz and topaz. The left half shows medium to coarse grained quartz and topaz with interstitial fine to very fine-grained zinnwaldite. GM10353 – This sample shows domains of coarse-grained quartz and topaz and domains of fine grained zinnwaldite, quartz and topaz. GM10349 – This sample is comprised of a relatively homogenous distribution of coarse-grained quartz, topaz and zinnwaldite. GM10358 – This is a fine to medium-grained rock with a homogeneous distribution of quartz, topaz and zinnwaldite. Note that these photos are not intended to be representative of broader mineralization on the Project. (CNW Group/TinOne Resources Corp.)

Figure 4: Photographs of lithium-bearing rocks from this round of sampling. GM10333 – the right half of the sample is predominantly fine-grained zinnwaldite with coarser quartz and topaz. The left half shows medium to coarse grained quartz and topaz with interstitial fine to very fine-grained zinnwaldite. GM10353 – This sample shows domains of coarse-grained quartz and topaz and domains of fine grained zinnwaldite, quartz and topaz. GM10349 – This sample is comprised of a relatively homogenous distribution of coarse-grained quartz, topaz and zinnwaldite. GM10358 – This is a fine to medium-grained rock with a homogeneous distribution of quartz, topaz and zinnwaldite. Note that these photos are not intended to be representative of broader mineralization on the Project. (CNW Group/TinOne Resources Corp.)

Figure 4: Photographs of lithium-bearing rocks from this round of sampling. GM10333 – the right half of the sample is predominantly fine-grained zinnwaldite with coarser quartz and topaz. The left half shows medium to coarse grained quartz and topaz with interstitial fine to very fine-grained zinnwaldite. GM10353 – This sample shows domains of coarse-grained quartz and topaz and domains of fine grained zinnwaldite, quartz and topaz. GM10349 – This sample is comprised of a relatively homogenous distribution of coarse-grained quartz, topaz and zinnwaldite. GM10358 – This is a fine to medium-grained rock with a homogeneous distribution of quartz, topaz and zinnwaldite. Note that these photos are not intended to be representative of broader mineralization on the Project. (CNW Group/TinOne Resources Corp.)

Figure 4: Photographs of lithium-bearing rocks from this round of sampling. GM10333 – the right half of the sample is predominantly fine-grained zinnwaldite with coarser quartz and topaz. The left half shows medium to coarse grained quartz and topaz with interstitial fine to very fine-grained zinnwaldite. GM10353 – This sample shows domains of coarse-grained quartz and topaz and domains of fine grained zinnwaldite, quartz and topaz. GM10349 – This sample is comprised of a relatively homogenous distribution of coarse-grained quartz, topaz and zinnwaldite. GM10358 – This is a fine to medium-grained rock with a homogeneous distribution of quartz, topaz and zinnwaldite. Note that these photos are not intended to be representative of broader mineralization on the Project. (CNW Group/TinOne Resources Corp.)

Figure 4: Photographs of lithium-bearing rocks from this round of sampling. GM10333 – the right half of the sample is predominantly fine-grained zinnwaldite with coarser quartz and topaz. The left half shows medium to coarse grained quartz and topaz with interstitial fine to very fine-grained zinnwaldite. GM10353 – This sample shows domains of coarse-grained quartz and topaz and domains of fine grained zinnwaldite, quartz and topaz. GM10349 – This sample is comprised of a relatively homogenous distribution of coarse-grained quartz, topaz and zinnwaldite. GM10358 – This is a fine to medium-grained rock with a homogeneous distribution of quartz, topaz and zinnwaldite. Note that these photos are not intended to be representative of broader mineralization on the Project.

Figure 5: Thin section photographs of sample GM10402a taken with polarized light (crossed polars). Coloured grains are zinnwaldite, large ragged grey grains are quartz, smaller dark grains are topaz. Note that this photo is not intended to be representative of broader mineralization on the Project. (CNW Group/TinOne Resources Corp.)

Figure 5: Thin section photographs of sample GM10402a taken with polarized light (crossed polars). Coloured grains are zinnwaldite, large ragged grey grains are quartz, smaller dark grains are topaz. Note that this photo is not intended to be representative of broader mineralization on the Project.

Figure 6: Thin section photographs of sample GM10403 taken with polarized light (crossed polars). Coloured grains are zinnwaldite, large grey central grain is topaz. Note that this photo is not intended to be representative of broader mineralization on the Project. (CNW Group/TinOne Resources Corp.)

Figure 6: Thin section photographs of sample GM10403 taken with polarized light (crossed polars). Coloured grains are zinnwaldite, large grey central grain is topaz. Note that this photo is not intended to be representative of broader mineralization on the Project.

Mineralogical Analysis
Several samples from the Dead Pig prospects were sent to Professor Tony Crawford (University of Tasmania ) for petrographic studies of thin sections cut from the rock samples (Figures 6 and 7). His observations on sample GM10402a, taken from the same outcrop as sample GM10216 (previously reported, 0.57% Li 2 O), indicate that the quartz-topaz-zinnwaldite rock appears " to have crystallized initially as a relatively coarse-grained quartz-zinnwaldite-topaz intergrowth, presumably from granite-related hydrothermal solutions rather than a late-stage, strongly fractionated granitic magma based on the absence of feldspars. A fracturing event was followed by invasion of a strongly acidic hydrothermal fluid that led to local dissolution and recrystallization of the coarser-grained assemblage to the fine-grained quartz-zinnwaldite-topaz aggregates ."

Sample GM10403 (assays pending) is described as " a mineralogically simple but unusual metasomatic/hydrothermal rock ." The zinnwaldite content is estimated at up to 80% of the rock with 10-15% topaz, minor quartz and clay-sericite. Professor Crawford comments that, " the absence of feldspars in this rock suggests that it is likely to have crystallized from a late magmatic hydrothermal solution charged with Li and F."

About the Aberfoyle Project
The Aberfoyle project area straddles the boundary between the Silurian to Devonian Mathinna Supergroup sedimentary rocks and the Devonian Ben Lomond Granite. The historic Aberfoyle (tin) and Storeys Creek (tin-tungsten) mines as well as other vein systems are hosted in the sedimentary rocks and occur as strike extensive systems of sheeted and stockwork veining. Elevated lithium has not previously been reported from the project area.

Historic records and drilling indicate the mineralized vein system at Aberfoyle is up to 60 metres wide, 800 metres in length and extends approximately 400 metres in the down dip direction. The Lutwyche prospect occurs approximately 1 kilometre northeast of Aberfoyle and is comprised of two sets of mineralized veins which can be traced along strike for approximately 750 metres.

An additional sediment-hosted vein system, the Kookaburra, is located 200 metres southwest of the main Lutwyche vein system and is known to be approximately 40 metres wide with an along strike extent of at least several hundred metres.

Mineralization at Storeys Creek is hosted within a 30 to 50 metre wide, north-northwest striking sheeted vein array which dips to the southwest. The system can be traced along strike for 300 metres and extends 400 metres in the down dip direction. The Ben Lomond Granite crops out approximately 1km west of the mine and has been identified at depth at 180 metres below the surface.

Additional poorly known sediment-hosted vein systems occur at Brocks, Eastern Hill and elsewhere in the tenement.

Granite-hosted occurrences are developed throughout the exposed areas of granitoid outcrop and consist of vein, disseminated and breccia style occurrences with associated greisen style alteration. These have given rise to historic small scale hard rock and more extensive alluvial production in the Gipps Creek, Rex Hill , Ben Lomond , Royal George and other areas.

The Company interprets that both sediment- and granite-hosted systems have developed in structural corridors of multi-kilometre extent and that historic exploration has not systematically explored these corridors. TinOne believes systematic exploration of these prospective corridors will result in the definition of high-quality drill targets.

Sample Methodology
Rock samples reported here were collected by experienced geologists from outcrop, float and historical mining spoil dumps. Samples were typically 1.5 to 2.5 kg and were placed in pre-numbered, calico bags and then into large rice sacks which were sealed for shipping. Due to the nature of the available sample media, the samples are not continuous channel samples and consist of multiple individual small rock pieces collected from an area considered representative of the lithology being sampled.

Quality Assurance / Quality Control  
Rock samples were delivered to ALS Limited in Burnie, Australia for sample preparation and then forwarded to ALS Brisbane 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 after a four-acid digestion (ALS method ME-MS61).

Control samples comprising certified reference samples (including reference material certified for lithium) 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, tin/tungsten and lithium projects in the Tier 1 mining jurisdictions of Tasmania and New South Wales, Australia . The Company controls some of the most important tin districts in Tasmania , including Aberfoyle , Rattler Range and Great Pyramid and is focussed on advancing its highly prospective portfolio. 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS

This news release includes certain "Forward–Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward–looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward–looking statements or information. These forward–looking statements or information relate to, among other things: the development of the Company's projects; future mineral exploration, development and production; and the release of exploration results.

Forward–looking statements and forward–looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of TinOne, future growth potential for TinOne and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; TinOne's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect TinOne's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward–looking statements or forward-looking information and TinOne has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on early stage mineral projects; metal price volatility; risks associated with the conduct of the Company's mining activities in Australia ; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in TinOne's management discussion and analysis. Readers are cautioned against attributing undue certainty to forward–looking statements or forward-looking information. Although TinOne has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. TinOne does not intend, and does not assume any obligation, to update these forward–looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

TinOne Resources Corp. Logo (CNW Group/TinOne Resources Corp.)

SOURCE TinOne Resources Corp.

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/March2023/15/c5635.html

News Provided by Canada Newswire via QuoteMedia

TORC:CA
The Conversation (0)
TINONE SAMPLES LITHIUM MINERALIZATION IN HISTORICAL DRILL CORE FROM ITS ABERFOYLE PROJECT, TASMANIA, AUSTRALIA

TINONE SAMPLES LITHIUM MINERALIZATION IN HISTORICAL DRILL CORE FROM ITS ABERFOYLE PROJECT, TASMANIA, AUSTRALIA

TSX.V: TORC   OTCQB: TORCF

DEFINES NEW STYLE OF MINERALIZATION PERIPHERAL TO PROSPECTIVE GRANITES

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
TINONE DEFINES NEW ZONE OF STRONG LITHIUM-IN-SOIL ANOMALISM AT ITS ABERFOYLE PROJECT, TASMANIA, AUSTRALIA

TINONE DEFINES NEW ZONE OF STRONG LITHIUM-IN-SOIL ANOMALISM AT ITS ABERFOYLE PROJECT, TASMANIA, AUSTRALIA

TSX.V: TORC   OTCQB: TORCF

TinOne Resources Inc. (TSXV: TORC) (OTCQB: TORCF) ( Frankfurt : 57Z0) (" TinOne " or the " Company ") is pleased to announce that it has defined a new zone of anomalous lithium-in-soil at its 100%-owned, 9,600 hectare Aberfoyle Project located in the tier-one mining jurisdiction of Tasmania, Australia .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
TINONE CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT FINANCING

TINONE CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT FINANCING

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ./

TinOne Resources Inc. (TSXV: TORC) (OTCQB: TORCF) (" TinOne " or the " Company ") is pleased to announce that it has closed its final tranche of the non-brokered private placement financing, previously announced on May 18, 2023 June 2, 2023 and June 26, 2023 raising an additional C$153,000 .  The Company overall raised gross proceeds of C$781,000 issuing a total of 6,508,330 units of the Company (the " Units ") at a price of C$0.12 per Unit (the " Financing ").

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
TINONE ACQUIRES THE PROSPECTIVE TIN-LITHIUM MOUNT MAURICE PROJECT, TASMANIA, AUSTRALIA

TINONE ACQUIRES THE PROSPECTIVE TIN-LITHIUM MOUNT MAURICE PROJECT, TASMANIA, AUSTRALIA

TSX.V: TORC   OTCQB: TORCF

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 km 2 of new exploration tenure in northeast Tasmania.  In addition, the Company has applied for another 133 km 2 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.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
TINONE CLOSES ADDITIONAL TRANCHE OF PRIVATE PLACEMENT FINANCING AND EXTENDS CLOSING

TINONE CLOSES ADDITIONAL TRANCHE OF PRIVATE PLACEMENT FINANCING AND EXTENDS CLOSING

TSX.V: TORC   OTCQB: TORCF

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ./

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
International Lithium Corp. Reports Results of 2024 Annual General Meeting

International Lithium Corp. Reports Results of 2024 Annual General Meeting

International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) (the "Company" or "ILC") is pleased to announce that all resolutions proposed at the Company's annual general meeting of shareholders held on September 16, 2024 were passed. All agenda items outlined in the information circular for the meeting were approved and all director nominees were elected, with over 99% of votes cast in favour of all the motions. The directors elected for the ensuing year are John Wisbey, Maurice Brooks, Anthony Kovacs, Ross Thompson, and Geoffrey Baker.

About International Lithium Corp.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas Step-Out Drills 7 Metres @ 9.1 g/t gold & 706 ppm Cobalt

Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas Step-Out Drills 7 Metres @ 9.1 g/t gold & 706 ppm Cobalt

Mawson Finland Limited ("Mawson" or the "Company") (TSXV:MFL) is pleased to announce new drill results from 8 drillholes at the Palokas zone of mineralization which were drilled as part of the Company's 38-hole 2024 winter drilling campaign on the Company's wholly-owned Rajapalot gold-cobalt project in Finland (see Table 1 and Figure 1 in Schedule "A" hereto

Highlights:

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
TIME Magazine Names Albemarle One of the World's Best Companies

TIME Magazine Names Albemarle One of the World's Best Companies

Award recognizes company's high employee satisfaction, revenue growth and sustainability

Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, announced today that TIME magazine has named it one of the World's Best Companies in 2024 .

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Business people shaking hands in front of port with shipping containers and semi-trucks.

What is an Offtake Agreement? (Updated 2024)

Offtake agreements play a critical role in obtaining project financing for high capital expenditures, such as manufacturing plants or processing facilities.

From early-stage enterprises to more mature businesses, cash flow challenges can make it difficult to secure loans to finance infrastructure projects. This type of contract can go a long way to mitigate risk in the eyes of lending institutions.

Offtake agreements are often employed in a wide range of sectors, including mining, energy, agriculture, pharmaceuticals and foodservice manufacturing.

Keep reading...Show less
Altech Batteries Ltd  First Offtake Letter of Intent for CERENERGY GridPacks

Altech Batteries Ltd First Offtake Letter of Intent for CERENERGY GridPacks

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce the execution of an Offtake Letter of Intent between Zweckverband Industriepark Schwarze Pumpe (ZISP) and Altech Batteries GmbH.

Highlights

- Strategic Offtake Letter of Intent agreement

- Schwarze Pumpe Industrial Park Association

- Offtake for 30MWh of 1MWh CERENERGY(R) GridPacks per annum

- For the first five years of production

- Agreement to also collaborate to convert industrial park from coal to renewable energy

- Altech's CERENERGY(R) GridPack storage solution integrated

- GridPack deliveries start by mid-2027 or when plant is ready

Under this Offtake Letter of Intent (LOI), ZISP will purchase 30MWh of energy storage capacity annually, consisting of 1MWh GridPacks, for the first five years of production. The price of these batteries has been agreed and aligned to Altech's Definitive Feasibility Study assumptions. The purchase of these batteries is subject to performance tests, battery specifications and the batteries meeting customer requirements. This offtake LOI constitutes an important aspect of the financing process.

The LOI also highlights both parties' commitment to work together to change the energy landscape of the Schwarze Pumpe Industrial Park by transitioning it entirely to renewable energy. A combination of wind, solar, and Altech's CERENERGY(R) GridPack Battery Energy Storage System (BESS) will ensure continuous power supply, even during low energy generation or outages.

Partners and Project Overview

This initiative comes at a critical time for Lusatia, one of Germany's coal-reliant regions. ZISP, a crossborder municipal association between the states of Spremberg and Spreetal, oversees the Schwarze Pumpe Industrial Park, managing its water, waste, road infrastructure, and energy needs. Meanwhile, Altech Batteries GmbH (ABG), a subsidiary of the globally active Altech Group, specialises in advanced battery technology. ABG's 8ha site within the park intends to manufacture the CERENERGY(R) solid-state sodium chloride batteries, developed with the Fraunhofer Institute, for industrial grid use.

Pioneering the Energy Transition in Lusatia

Germany's Energiewende is driving a nationwide shift from fossil fuels to renewable energy. As coal use is phased out, especially in Lusatia, new energy solutions are critical. This partnership between ZISP and Altech is a key step in replacing coal with sustainable, renewable energy solutions that align with Germany's 2020 legislative mandate for the coal phase-out. The project also supports ZISP's goal of achieving certification under the EU's "Zero Valley" initiative, making Schwarze Pumpe a model for renewable energy storage and generation.

Developing an Energy Storage Strategy

To transition fully to renewable energy, wind and solar power, combined with Altech's CERENERGY(R) GridPack batteries will be key to achieving this. This partnership between ZISP and Altech marks the transformation of Schwarze Pumpe from a coal-reliant industrial park to a renewable energy hub. By integrating CERENERGY(R) batteries, the project positions the park as a replicable model for industrial regions across Europe, fostering a new economic structure cantered on renewable energy. Altech's scalable BESS solution ensures renewable energy is stored efficiently, overcoming a key challenge in transitioning from coal.

Key Terms of the Agreement

- Start of deliveries from the 120 MWh plant from mid-2027 or later as per project development

- Technical data and guarantees according to the attached data sheet

- Price per GridPack at standard market conditions

- Purchase volume 30MWh per annum for 5 years, being 2027 through 2031

- The parties intend to develop a detailed acceptance contract subject to the performance data and warranty to be met by Altech

- An option for additional delivery volumes at a later date is negotiable

- Both parties will jointly develop a business and technical partnership to deliver scalable energy solutions, with contracts to be finalised in early 2025

Management Comment - CEO Iggy Tan

"This Letter of Intent marks a significant milestone for Altech Batteries as it represents our first offtake agreement for the CERENERGY(R) GridPack Battery Energy Storage System. The interest shown by the Schwarze Pumpe Industrial Park Association (ZISP) in our technology is a clear signal of growing demand for innovative energy storage solutions, particularly as industries shift toward 100% renewable energy.

It's encouraging to see potential customers like ZISP recognise the value of our scalable and reliable battery systems. This LOI not only validates the commercial potential of our CERENERGY(R) technology but also supports our future growth strategy, as securing such agreements strengthens Altech's position for project financing and expansion.

We're excited to continue working closely with ZISP, and we believe this partnership will pave the way for future demand as the industrial park moves toward a green energy future. With the first delivery expected mid-2027, this agreement is just the beginning of what we expect will be a significant increase in battery demand."



About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
Altech Batteries Ltd  Results of Entitlement Issue

Altech Batteries Ltd Results of Entitlement Issue

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) provides the following update regarding its Entitlement Issue as announced on 7 August 2024.

The Company received applications from eligible shareholders as well as the underwriter amounting to $6,473,205. This represents 161,830,134 shares at $0.04 per share and 80,915,359 free-attaching options with an exercise price of $0.06 per share and expiring 31 December 2025.

The shares and options will be issued and allotted on 17 September 2024 and application for quotation of shares and options on the ASX will be made on 17 September 2024.

Altech's CEO and MD Iggy Tan stated "On behalf of the Board of Directors, I wish to thank all eligible shareholders that participated in the Entitlement Issue and for the support extended to Altech as it moves forward with both its CERENERGY(R) battery project as well as Silumina AnodesTM battery materials project.

In addition, the partial underwriting of the Entitlement Issue for $5,000,000 by MAA Group Berhad, an existing shareholder associated with Altech director Tunku Yaacob Khyra, sends a strong message of support. With the positive Definitive Feasibility Study and excellent economics for the 120MWh CERENERGY(R) battery project having been released in March 2024, Altech is extremely focused on securing offtake as well as finance to commence plant construction".



About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×