The Aberfoyle Project, currently a tin and tin-tungsten mine, has been part of large-scale exploratory search of the 23,722 acre site by TinOne after earlier detection in March this year indicated a 1.14 lithium percentage in granites in the jurisdiction.

The discovery of 0.47 per cent lithium oxide in sedimentary rocks at Storeys Creek target area has meant an expansion of the exploration search-space for lithium at Aberfoyle and elsewhere across TinOne’s tin-tungsten-lithium projects in the north east of the state.

TinOne Executive Chairman Chris Donaldson said that work is now underway to “expand on these results” by rock sampling and mapping of the Storeys Creek area.

“While TinOne’s focus remains on our Great Pyramid tin project, where we are currently concentrating on updating the resource, the exciting new lithium finds at Aberfoyle provide significant optionality for the Company,” Mr Donaldson said.

Tasmanian Minerals, Manufacturing & Energy Council secretary Ray Mostogl said that while the company’s move from exploration to producing lithium could be another ten years away, it would be a “critical” project for the state.

“Lithium is a crucial material for businesses to move towards decarbonisation,” Mr Mostogl said.

“It is used in pretty much any renewable energy project, from car batteries to energy grids, and will see big growth as we move towards hybrid and renewables.”

Growth in lithium production for Tasmanian mining companies will also mean growth in jobs and the economy, Mr Mostogl said, with Tasmania’s exploration showing promising signs of a “bright future”.

“Exploration has doubled in the past few months for mining in Tasmania,” he said.

“This could mean potential huge expansion and progression of a competitive industry in the state and on the mainland.”