Tincorp Intersects 21.20 Metres Grading 0.65% Tin Including 6.13 Metres Grading 1.71% Tin at the Porvenir Project, Bolivia
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Tincorp Intersects 21.20 Metres Grading 0.65% Tin Including 6.13 Metres Grading
1.71% Tin at the Porvenir Project, Bolivia
Vancouver, British Columbia – September 7, 2023 – Tincorp Metals Inc. (“Tincorp” or the
“Company”) (TSXV: “ TIN”; OTCQX: “ TINFF”) is pleased to announce that it has received the
assay results for holes DPOV0002, DPOV0003, DPOV0004 and DPOV0006 from its Porvenir tin-
zinc-silver (Sn-Zn-Ag) Project (the “Project”). Tincorp completed seven drill holes totaling 2,5 45
m for its 2023 drill campaign at the Project.
These four holes and the previously reported DPOV0001 were drilled to test the depth and lateral
extension of the NNW-trending Condor Nasa structure (NWV1) and the NS-trending mineralized
structures (NSV1 and NSV2, Fig. 1).
The assay results are highlighted by a 21.20 m intercept grading 334 g/t silver equivalent (AgEq)
(0.65% Sn, 1.97% Zn, 4 g/t Ag and 0.10% Cu) in hole DPOV0006, which includes 828 g/t AgEq
(1.71% Sn, 4.21% Zn, 7 g/t Ag and 0.16% Cu) over 6.13 m. This represents the mineralization of
the NNW-trending Condor Nasa structure (Fig. 1 & 2). Figure 3 illustrates a high-grade section of
DPOV0006.
In addition to the results of DPOV0006, the composite assay results are shown in Table 1 below:
Table 1. Composite assay results for hole DPOV0002, DPOV0003, DPOV0004 and DPOV0006.
Hole ID From
m
To
m
Length
m
Sn
%
Ag
g/t
Pb
%
Zn
%
Cu
%
AgEq
g/t
Vein
DPOV0002 140.35 142.55 2.20 0.28 73 0.52 2.16 0.14 290 NSV
243.40 253.58 10.18 0.25 25 0.01 4.14 0.16 294 NSV1
DPOV0003 73.50 84.30 10.80 0.40 20 0.01 4.43 0.21 361 NSV1
214.00 217.52 3.52 0.72 9 0.01 1.72 0.11 361 NSV2
261.08 297.80 36.72 0.17 5 0.00 0.92 0.08 113 NWV1
DPOV0004 50.62 57.90 7.28 0.20 11 0.03 2.59 0.05 190 NSV
206.90 216.67 9.77 0.08 16 0.00 1.29 0.17 115 NWV1
DPOV0006 192.50 213.70 21.20 0.65 4 0.00 1.97 0.10 334 NWV1
incl. 200.72 206.85 6.13 1.71 7 0.00 4.21 0.16 829 NWV1
Notes:
1. Drill intercepts are core lengths, and grades are length-weighted. The true width of mineralization is unknown at this time.
2. Analyses were from half-core samples, cut by diamond saw and collected from the entire hole.
3. Silver equivalent (AgEq g/t) is shown for illustrative purposes only to express the combined value of tin, zinc and silver as a grade of silver. AgEq is
calculated using US$0.74 per gram of silver, US$2755 per tonne of zinc, US$8816 per tonne of copper and US$28000 per tonne of tin. Metal recoveries
are not yet known.
4. The silver equivalent formula used was: AgEq g/t =Ag grade + ((Pb%*2094/100)+(Zn%*2 755/100)+(Cu%*8816/100)+(Sn%*28000/100))/0.74
Tincorp Metals Inc.
1750 - 1066 West Hastings Street
Vancouver, BC, Canada V6E 3X1
Telephone: (604) 336-5919
www.tincorp.ca
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Figure 1. Surface plan map of Condor Nasa structures
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Figure 2. Cross section of drill hole DPOV0006 (Looking SSE)
Figure 3. High-grade mineralization zone in hole DPOV0006, from 202.72 to 209.56 m.
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Other than the high-grade interval in DPOV0006, DPOV0003 and DPOV0004 also drilled through
NWV1 (Fig. 1), with DPOV0003 intersecting 36.72 m of 113 g/t AgEq (0.17% Sn, 0.92% Zn, 5 g/t
Ag and 0.08% Cu) and DPOV0004 intersecting 9.77 m of 115 g/t AgEq (0.08% Sn, 1.29% Zn, 16
g/t Ag and 0.17% Cu).
The 10.18 m high-grade interval in DPOV0002 (294 g/t AgEq, 0.25% Sn, 4.14% Zn, 25 g/t Ag and
0.16% Cu) and 10.80 m interval of DPOV0003 (361 g/t AgEq, 0.40% Sn, 4.43% Zn, 20 g/t Ag and
0.21% Cu) are related to the NS-extending vein, NSV1 (Fig.1).
The 3.52 m interval of 361 g/t AgEq (0.72% Sn, 1.72% Zn, 9 g/t Ag and 0.11% Cu) in DPOV0003
is related to NSV2 (Fig. 1).
DPOV0002, DPOV0003 and DPOV0004 have intercepted multiple NS -trending mineralized
structures (NSV1 and NSV2) which has opened up new drilling targets to be tested in future drill
programs at the Project.
Mineralization in the holes occurs as sulfide and gangue minerals permeated in veins, veinlets
and breccias. The sulfide minerals recognized to date are predominantly pyrite, pyrrhotite, and
sphalerite with lesser amounts of galena, chalcopyrite, and arsenopyrite. Sericite, siderite, and
quartz are the predominant gangue minerals, though they form a minor portion of the mineralized
zone. The mineralization is hosted within a chlorite -sericite altered shale and argillite sequence
of the Silurian-aged Llallagua Formation.
“We are thrilled by the outstanding assay results from our recent drill campaign at the Porvenir
Project. I am excited to witness the continued success of Tincorp's exploration efforts. These
results confirm our belief in the richness of the mineralization at Porvenir and reinforce our
commitment to unlocking the full value of this remarkable asset,” stated Mr. Gordon Neal, CEO
of Tincorp.
Quality Assurance and Quality Control
Tincorp maintains tight sample security and quality assurance and quality control for all aspects
of its exploration program. All Porvenir core samples were logged, photographed and split on-site
by staff geologists and were shipped in securely sealed bags by Company staff in the Company’s
vehicles directly from the field to ALS Bolivia Ltda., in Oruro, Bolivia, for preparation, and ALS
Peru laboratory in Lima, Peru for geochemical analysis. ALS Global is an ISO 17025 accredited
laboratory independent from New Pacific. All samples are first analyzed by a multi-element ICP
package (ALS code ME -MS41) with ore grade specified limits for silver, lead, and zinc, further
analyzed using ALS code OG46 . The tin grades were analyzed by fusion XRF (ALS code ME -
XRF15b). Certified reference materials, various types of blank samples and duplicate samples
are inserted into normal drill core sample sequences prior to delivery to the laboratory for
preparation and analysis. The overall ratio of quality control samples in sample sequences is
around twenty percent.
Qualified Person
The scientific and technical i nformation contained in this news release has been reviewed and
approved by Donald J. Birak, independent consultant geologist who is a Qualified Person for the
purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Resources (“NI 43-
101”). The qualified person has visited th e Porvenir property and is not aware of any significant
risks and uncertainties that could be expected to affect the reliability or confidence in the
information discussed herein.
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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 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.
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 Agreemen t, the payment of a finder's fee 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”, “ant icipates”, “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 considered 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 t o flooding, political changes, title issues, intervention by local landowners,
environmental concerns, pandemics (including COVID -19) or otherwise; that the Company will be able to
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obtain and maintain governmental approvals, permits and licenses in connect ion with its current and
planned operations, development and exploration activities, including at the Skukum Gold Project; that the
Company will be able to meet its current and future obligations; that 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 future Mineral Resource estimates; future
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 s ame; and other
exploration or other risks detailed herein and from time to time 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.sedarplus.ca 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.