TinCorp Metals to drill ex Rio Tinto, SF Tin Project

foreign [Music] Creek and I'm with Gordon Hill the CEO of tin Corp Metals Gordon good to see you thank you for having me no problem um just those less familiar with the story brief overview um tint Corp is uh in Bolivia we have two projects in Bolivia the poor veneer project and the sf10 project we have a history in Bolivia because I was was at one time the president of new Pacific Metals so we have a good history there good infrastructure a good team um and um we uh we we were very successful with new Pacific and we believe we can do it again with tencore good okay and just to tie things up where um what's the control structure looking like at the moment yeah the simple TSX Venture is tin and the OTC otcqx it's t-i-n-f-f we have 66 million shares out fully diluted uh 88. um two million dollars in in the bank major shareholders are silver Corp medals at 29 insiders have 12 Pan American silver has 3.7 percent and 54 the remaining 54 is in is uh retail investors good okay so just to kick things off um wouldn't mind understanding a little bit more obviously you're in Bolivia looking for 10 I've seen some of your draw results they look pretty good just tell us where you are at the moment how did you get to where you are right now well again I was president of new Pacific Metals but left new Pacific because they were going into development and that's not my gig so I left and then reefing who's the largest shareholder of both new Pacific and Tin Corp uh called me back and said look I need some help with the with white horse gold which we turned into tin Corp uh he says I have two tin projects in in Bolivia that I'd like you to look at now the people that I've worked with in my career in this business have been geologists that are exceptional at finding quality assets that are economic Peter mcgaugh and reefing and re runs silver Court medals which is probably in my opinion the uh the best performing operationally uh Silver Mine Silver Company in the world and when he comes to me with two assets in Bolivia he is the larger shareholder but says I think I found something that you can work with and can it could be economic I listen and I took the job as CEO and it's early days but you know it was early days of Mag silver with Peter when we had this first drill holes early days with new Pacific when we started with three drill holes and all both of those companies are performing well and shareholders are making a lot of money what's the obviously 10 is a bit different to sort of epipheral sailboats more consider right isn't it um how are you finding that change in geology well I'm not a geologist I have a science background but I as a as a chemist but I find it I find it interesting I find geology fascinating um making the shift from silver or gold to uh to a base metal like 10 requires some work but really in the end what we're really looking for when we're in this Commodities business is great and tons right if you can find something that has grade and tons that can give a long mind life and allow the economics of a potential uh deposit to be to be economically positive then all you're going to do is drive value with your your drill bit and add value for your shareholders and tell me about what's in the ground at the moment obviously you've done some drilling you there's been historical knowledge of this deposit what what is it at the moment what's in the ground so we've only drilled the poor veneer project uh to date we're just about to drill the sf10 project but the porter project was interesting because there's a on the property it was owned by Dollar metals and Mining and was operated from 2007 to 2011. they drilled 88 holes 25 000 meters and when you go on the property you see that there's a northwest southeast trending structure that the artisanals have worked and in one in one spot there is a high grade slot that was removed of 10 must have been very high grade 10 but it's 20 30 feet wide and it's 40 or 50 feet deep so when you follow that Trend um you'll you know you see it's north as I said northwest southeast but when Reed got on the ground and reefang runs the technical team for my company with his group he said yeah I see this North it's obvious it's north south north west Southeast trending structure but why have The Artisans been been digging North and South as well so there's a bunch of obvious work that's been done by artisanals North and South so his his solution was let's drill through the main structure in the Northwest trending structure and and we'll try to pick up the the other work that the artisanal has done that been going north and south so when we drove through that we lo and behold and you said some of the results we got in the market notices uh we got 120 meters of 0.6 10.6 percent tin with a high grade section of 21 21 meters of one of 2.25 percent so um when and that and actually that two point two point two percent 10.25 10 was actually in one of the was actually in one of the western bound north south structures so it looks like it's looking like there is a series of of display structures off of the north northwest trending structures a series of of structures that feed off of that of that that main structure uh and we can see that not only in the the drilling that we've done in those results results but we can see it in the in the artisanal work that goes north south to the east of that structure as well so our plan Next plan is to drill those Eastern bound Northwest structures and through the main structure to see if we can pick up those kind of those similar kinds of results well just to surprise some context because obviously not everyone might follow the team Market but two percent tin is is extremely high grade right I mean so so for reference one percent ten is equal to 4.6 grams per ton gold or 377 grams per ton silver or four 3.4 percent copper yeah right good um so at the moment what's the expiration model obviously you were just talking about there you've got other structures to find is this how deep are you having to draw at the moment is this from surface is this yeah we're drilling from surface um the length of the holes are about 450 meters right now um and so some of the and the high grade hit uh on North South one vein was at about 350 meters so this potentially the the mineralization is that is is that depth is fairly deep I mean at 350 meters but at 2.25 10 21 meters a 2.25 10 if I'm a minor I'm going after it right it's it's high grade so it it will I we believe and it's early days so we still have to figure out um whether there's whether we're right in their armor veins off of the explaining off of the northwest southeast trending uh structure and what we are we are we're doing that now so we're we're going to be doing that soon and how expensive is it to mine in Bolivia or so to explore and delivery where you are is there any infrastructure around the projects how does that work Bolivia is an incredible country I've actually worked in Africa in six countries in Africa I've worked in four provinces in Canada I've worked in probably four states in the United States I've worked with three in China Bolivia is probably one of the E is in my opinion the easiest country I've ever worked in this business infrastructure in Bolivia Abel Morales who was the president from 2005 to 2019 put roads and electricity and sewers all through the country I mean I can drive to my I drive in a paved Road right up to my my up to the wanooni mine which is the largest Tin Mine in Bolivia and then I drive 15 minutes on a well-maintained gravel road to my site on both my projects it's it's accessible power is nearby I mean it's really easy to move around in Bolivia and the culture in Bolivia has they've been mining for six or seven hundred years um and and everybody everybody in Bolivia has a mining hat in their house their money the helmet in their house I mean they want mining in Bolivia what was it Bolivia and Tina has got a long history as well right I mean at one point it was the largest team producer in the world it's now producing around what five six percent of Global Production of tin so it's no surprise tell me about your neighbor's name you just mentioned there's a Tin Mine already next to you who else is around who's around you at the moment so the wanooni mine we're actually our camp is actually in this in the town of wanuni and wanuni is the largest uh Tin Mine in Bolivia it's a high grade Tin Mine it's been producing since the 1920s it was actually founded by a guy named Simon pequinho and Simon petino was a guy that was running out of money and he was gonna have to sell his house and he found this tin vein at the wanuni and he became the richest person in the world because of tin in the 1930s he became the rich or he became a billionaire in the 1930s and so he was the richest man in the world so 10 is actually driven and then he had two two other competitors in Bolivia hacios and Amara who also became billionaires so they were these three were the were the three richest guys in the world as a result of 10 in Bolivia now that one uni mine has been in production since the 1920s but it's still producing high grade 10. average is probably about one and a half percent ten um and it's certainly they're certainly going deep but they've they're still producing they've got 2 000 employees there it's run by Comey Bowl the state-owned mining organization and to the south of wanuni by about 40 minutes is the town of yayagua and yayagua has the second largest Tin Mine in Bolivia and so they're very they're very close in proximity and we are 20 minutes away each way from either one of those mines so we're in the right address for looking for considerate considerite is the is the tin sulfide which makes up uh predominantly most of the 10 in the world is is the sulfide and not the oxide which is stanite um and so we're right in the right address for this to happen and we're the right group of people to do it I mean like I said it's not gold and silver but tin is a critical medal and um my geological team led by everything a hand has a history of handing me prod products or projects that um we wind up adding value to and adding market value and increasing value for shareholders and for the and for the sector geologically uh obviously you're mentioning you're not a geologists but your team and your your advisors are they are they assuming or do they believe that um their similarities or there's continuation from the other Minds it's it's a similar uh I guess uh rock rock package there yeah the rocks are all the same yeah um the only the only difference that I could say between and we've only draw we have some some core from from sf10 but um the the tin that's at poor veneer is is highly disseminated so it's hard to see in in the core so it may take a little bit uh different processing to liberate it I don't know yet we're actually sending some bulk samples out for metallurgical testing now but it's all the same rocks but I believe that that juanuni has a larger green uh considerate which is again easier when you've got larger grains as long as they're not attached to something deleterious um they're easier to process good okay and just on the Tim Market I guess because like you're saying you've always had this background in silver and gold and other metals but um I I've I personally quite like the Tim Market obviously we saw back in the early 2000s a real switch from lead to to 10 in in sodas doubled the amount of tin that was required pretty much overnight if you look at any technical technological product tin is required um I think really interestingly this is full eyesight and I'm not sure how how familiar you are but obviously there's a lot of this is dominated in China Indonesia Myanmar and I think there is a gap or there is there is this critical Metals movement at the moment to to Source tin from other areas so I think that potentially might be where you where you come in is that because you see this yeah so the global reserves of Tim have been dropping since the mid 2000 2007 2005. um China is the largest producer and consumer of tin but their reserves are dropping as well and as the larger producer it's going to affect you know what's what we can what we need in the world um yeah it's a critical medal um Myanmar right now is having an effect on the on the market because the Myanmar government has shut down all of its Mining and Myanmar actually produces about nine percent of the world's ten and that it actually produces and all of that tin goes to China so it's picked up by China so a third of China's production and China produces 30 uh thirty thousand ounces of of of 10. so a third of the of of China's production is going to be out offline because Myanmar is gone that's going to affect the price yeah so on the supply side so the man's not going down and in fact one of the biggest uses uh uses and demands for tin right now is a thing called solar ribbon so I mean you talked about solder and the fact that when they took lead out it doubled the need for a tin which is it's true and it's used in in silicon silicon circuit boards in All Electronics but when you when you take out that that tint the tin is gone the solar ribbon is now the largest producer or the largest use for 10 in the in the space and solar ribbon is basically a copper wire that connects all solar panels but it's covered in solder so right now the growth of photovoltaics is driving a big part of uh the use of Tim so just going back to your your project just talked me through the next uh six 12 months what what are you most focused on what what can we expect to be saying so we've drilled uh early drilling but we put seven holes in Port veneer I'm a small company I'm a small treasury so I have to be careful and manage my money in this particularly in this soft market so we are now moving to the sf10 project now the sf10 project is different than poor veneer in that the mineralization starts at surface it used to be owned by Rio Tinto so they drilled five holes on it we we twinned those holes and what we got and we really likes this project because um it it looks like it might be amenable to bulk mining mainly because you're getting two 200 meters of 0.45 10 at starting at surface and like his project at in new Pacific at Silver sand when you have I'm Silver Sands got a strip ratio of 1.1.8 to 1. when you have those kinds of potential scenarios for mining when you can bulk mine 200 meters of 0.45 there's sometimes they're more compelling and we started to a program on that uh in a few weeks um yeah so that that'll that'll take us through to that drill program will take me through to the end of the year then we're doing a capital raise in the next couple of weeks and we've got that sort of all in hand even given the soil Market the soft Market and we'll uh then once we get that capital in we'll start next year we'll the sf10 will will get us through to the end of the year with the drilling and the results then I would say really for February of next year we'll start again back at poorvenir where those as I said those north south uh structures off the displaying off the main vein we'll we have another area to the east what looks like we want to drill through that so that'll take us from February into the middle of the year then we're going to Hopscotch back and forth between poor veneer and sf10 and in that way we can conserve conserve Capital instead of having two drill Rings going at the same time and sucking money under my treasury I just take one and move it and they're only 20 kilometers apart so it makes sense I think well thank you thank you for having me yes

Channel: Mining Network

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Keywords: mining, Mining Network, Peter Gadsdon, kitco, kitco mining, crux investor, mining news, mining stocks, mining network, tin, tin mining, best tin stocks, best tin mining stocks, tin stocks, investing in tin, tin demand, tin price, price of tin, tin forecast, tincorp, tincorp metals, tin corp, polymetallic, Oruro, Potosi department, gordon neal, tin exploration, tin development, mining in bolivia, tin production, producing tin

Id: PEqCjxEAoUI

Length: 17min 27sec (1047 seconds)

Published: Mon Sep 25 2023