Tincorp Initiates 2023 Exploration Drilling Program at the Porvenir Tin Project, Bolivia
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Tincorp Initiates 2023 Exploration Drilling Program at the Porvenir Tin Project,
Bolivia
Vancouver, British Columbia – May 24, 2023 – Tincorp Metals Inc. (“Tincorp” or the
“Company”) (TSXV: “ TIN”; OTCQX: “ TINFF”) is pleased to announce the commencement of
exploration drilling at its Porvenir tin-zinc-silver-lead polymetallic project (the “Porvenir Project”
or the “Project”) in Bolivia.
As previously reported (see news release dated August 31, 2022 ), the Company signed an
agreement to acquire up to a 100% interest of the Porvenir Project. The Porvenir Project is
situated in the centre of the Bolivian Tin belt, 65 km southeast of the city of Oruro, in the Oruro
department, and it is only 15 km south of the Huanuni Mine, Bolivia’s largest producing tin mine.
The 11.25 km 2 property encompasses a historical near -surface open pit and underground
workings; the deposit was exploited on a limited scale. Further to a strategic review of historical
exploration programs and a recent relogging program (see news releases dated March 2, 2023,
and April 3, 202 3), high priority targets are defined in the central area of the Project , which
highlighted a structurally-controlled mineralization zone trending NW compris ing of massive
sulfides and a series of mineralized sulfide veins.
The first phase of this drilling program is the mobilization of a diamond drill rig to commence a
3,000 meters program, which may be extended at a later date, pending results. The exploration
drilling will include targeted drilling, aimed at expanding the mineralization discovered by historical
exploration programs and to further test the extension of mineralization along strike.
All required exploration permits are in place and a local drilling contractor has begun to mobilize
crews and equipment.
“It is our aim for 2023 to unlock the exploration potential of the Porvenir Project by advancing our
drilling and prospecting activities. ” Mr. Gordon Neal, CEO of the Company stated : “There have
only been a handful of new tin deposits discovered in the past 40 years. We are excited and
confident that our 3,000 m diamond drill program at Porvenir will be a success. We expect to see
assays from this program by the end of June to early July.”
About Tincorp
Tincorp Metals Inc. is a mineral exploration company focusing on tin projects in Bolivia and a gold
project near Whitehorse, Yukon, Canada. The Company has signed agreements to acquire up to
a 100% interest in the Porvenir Project and SF Tin Project, which are 70 km southeast of Oruro,
Bolivia. The Company’s 100% owned Skukum Gold Project is approximately 84 km south of
Whitehorse by road. An independent mineral resource estimate update in respect of the Skukum
Gold Project was completed in October 2022.
Tincorp Metals Inc.
1750 - 1066 West Hastings Street
Vancouver, BC, Canada V6E 3X1
Telephone: (604) 336-5919
www.tincorp.com
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On Behalf of Tincorp Metals Inc.
signed “Gordon Neal”
Gordon Neal, CEO & Director
For further information, please contact:
Investor Relations, Tincorp Metals Inc.
Phone: +1 (604)-336-5919
Email: [email protected]
www.tincorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward -looking statements and forward-looking information (collective,
“forward looking statements”) within the meaning of applicable Canadian and U.S. securities legislation.
All statements, other than statements of historical fact included in this release, including, without limitation,
statements regarding the terms of the Agreement and the approval of the TSX Venture Exchange are
forward-looking statements. Estimates of mineral reserves and mineral resources are also forward-looking
information because they incorporate estimates of future developments including future mineral prices,
costs and expenses and the amount of minerals that will be encountered if a property is developed.
Forward-looking statements are often, but not always, identified by words or phrases such as “expects”, “is
expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”,
“targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating
that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved,
or the negative of any of these terms and similar expressions. Forward -looking statements are based on
the opinions, assumptions, factors and estimates of management con sidered reasonable at the date the
statements are made. The opinions, assumptions, factors and estimates which may prove to be incorrect,
include, but are not limited to: whether the Company will acquire up to a 100% interest of the Porvenir
Project; market fundamentals will result in sustained precious metals demand and prices; that there are no
significant disruptions affecting operations, including labour disruptions, supply disruptions, power
disruptions, security disruptions, damage to or loss of equipment, whether due to flooding, political changes,
title issues, intervention by local landowners, environmental concerns, pandemics (including COVID-19) or
otherwise; that the Company will be able to obtain and maintain governmental approvals, permits and
licenses in connection with its current and planned operations, development and exploration activities,
including at the Skukum Gold Project , SF Tin Project and Porvenir Project ; that the Company will be able
to meet its current and future obligations; tha t the Company will be able to comply with environmental,
health and safety laws; and the assumptions underlying mineral resource estimates and the realization of
such estimates.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to differ materially from any future
results, performance or achievements expressed or implied by the forward -looking information. Such risks
and other factors include, among others: the risk that the Company will not acquire up to a 100% interest
of the Porvenir Project; social and economic impacts of COVID -19; actual exploration results; changes in
project parameters as plans continue to be refined; results of fut ure Mineral Resource estimates; future
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metal prices; availability of capital and financing on acceptable terms; general economic, market or
business conditions; uninsured risks; regulatory changes; defects in title; availability of personnel, materials
and equipment on a timely basis; accidents or equipment breakdowns; delays in receiving government
approvals; unanticipated environmental impacts on operations and costs to remedy same; and other
exploration or other risks detailed herein and from time to tim e in the filings made by the Company with
securities regulators. Although the Company has attempted to identify important factors that could cause
actual actions, events or results to differ from those described in forward-looking statements, there may be
other factors that cause such actions, events or results to differ materially from those anticipated. There
can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are
cautioned not to place undue reliance on forward-looking statements.
Readers are cautioned not to place undue reliance on forward -looking statements. The Company
undertakes no obligation to update any of the forward -looking statements in this news release or
incorporated by reference herein, except as otherwise required by law.
Additional information in relation to the Company, including the Company’s most recent annual information
form, can be obtained under the Company’s profile on SEDAR at www.sedar.com and on the Company’s
website at www.tincorp.com.
CAUTIONARY NOTE TO US INVESTORS
The technical and scientific information contained herein has been prepared in accordance with NI 43-101,
which differs from the standards adopted by the U.S. Securities and Exchange Commission (the “SEC”).
Accordingly, the technical and scientific information contained herein, including any estimates of mineral
reserves and mineral resources, may not be comparable to similar information disclosed by U.S. companies
subject to the disclosure requirements of the SEC.