VANCOUVER, Nov. 12, 2014 /CNW/ - Tinka Resources
Limited ("Tinka" or the "Company") (TSXV:
TK) (OTCPK: TKRFF) is pleased to announce results of the
first four holes of its current drill program at the Ayawilca zinc
project, central Peru. All four holes have intersected
high-grade zinc sulphide mineralization over substantial
thicknesses. Tinka continues to prove the large scale zinc
potential of Ayawilca.
Key drill results:
West Ayawilca area:
- A14-22: 148.5 metres at 4.3% zinc from
170.0 metres depth, including 32.8 metres at
7.4% zinc from 211.2 metres depth, and
31.0 metres at 6.3% zinc from 283.5 metres
depth;
- A14-20: 2.2 metres at 21.0% zinc from
164 metres depth; and 34.15 metres at 5.3% zinc
from 179.85 metres depth, including 12.0
metres at 10.5% zinc from 179.85 metres depth; and 42 metres at 4.3% zinc from
268 metres depth;
- A14-19: 144.9 metres at 3.9% zinc from
184.0 metres depth, including 18.0 metres at
7.1% zinc from 250 metres depth;
East Ayawilca area:
- A14-21: 19.6 metres at 5.7% zinc from 164.0 metres
depth, including 6.0 metres at 10.2% zinc from 166.0 metres
depth.
Three of the holes at West Ayawilca (A14-19, A14-20, A14-22)
were collared within 150 metres of a previous Tinka drill hole,
A13-05, which intersected 213 metres at 5.3 % zinc from 130 metres
depth (see Figures 1 and 2). The fourth hole (A14-21)
targeted a previously untested geophysical magnetic anomaly at East
Ayawilca and also intersected significant zinc
mineralization. A 1% zinc cut-off grade over 6 metre
intervals was used by the Company. Credits of lead (0.1-0.4%) and
silver (10 to 20 g/t Ag) typically accompany the zinc
mineralization. The mineralized rock is interpreted from
drill core measurements to be generally gently-dipping. The
true widths of the intercepts are believed to be at least 75% of
the down-hole widths.
Dr. Graham Carman, Tinka's
President and CEO, stated: "These results from the first four
holes in the current drill campaign are very significant, with all
holes intersecting strong zinc sulphide mineralization over
substantial vertical thicknesses. At West Ayawilca we are
starting to see definition of the zinc mineralization around A13-05
with good probability of continuity of mineralization between holes
covering a surface area of approximately 200 metres (north-south)
by 130 metres (east-west). Mineralization remains open, and
drilling is continuing."
"At East Ayawilca, one kilometre to the east, the first hole
drilled to test a geophysical anomaly (A14-21) intersected
significant zinc mineralization over a 20 metre interval. We
await assays for an additional hole, A14-24, which has just been
completed. Further holes are planned at East Ayawilca in the
current campaign as we believe this area has large scale zinc
potential. It is very exciting that Tinka is intersecting zinc
mineralization in two separate areas at Ayawilca, with a number of
other targets including Central Ayawilca yet to be adequately
followed up (e.g., drill hole A12-08 intersected 36.5 metres at
6.5% zinc in 2012)."
"Tinka is now approximately
midway through the current drill program at Ayawilca, with two
drill rigs operating. Seven holes have now been completed
with assays awaited for three additional holes. Drilling will
continue until mid-December, when operations will close down for
Christmas and New Year. This will allow the Company time to
compile and interpret results, and plan the 2015 drill
programs."
Geology of the zinc mineralization
Zinc mineralization at Ayawilca occurs in the form of massive to
semi-massive sulphide replacements of sedimentary rocks, with
lesser vein-style mineralization. The sulphides consist of
sphalerite, pyrite, and pyrrhotite (with minor galena,
chalcopyrite, and arsenopyrite) generally accompanied by chlorite,
carbonate, and sometimes magnetite. The host rocks are a
sedimentary sequence consisting of sedimentary breccia, siltstone,
shale and limestone up to 250 metres thick ("Oyon Formation")
overlain by sandstone around 150 metres thick ("Goyllar Group")
forming a barren cap to the mineralization, although the sandstone
can host sporadic sulphide veins. Beneath the Oyon Formation,
which dips gently to the east, lies a metamorphic rock known as
phyllite ("Excelsior Group") which is barren of zinc. Drill
holes are generally stopped a few metres into phyllite, with the
average hole depth being 395 metres so far. Drill holes are
angled steeply between 60 degrees and 85 degrees to the horizontal.
See Tables 1 and 2 for a summary of
the drill results and drill collar information.
Gravity geophysical survey
To further assist with the drill targeting, a geophysical
gravity survey is now underway at Ayawilca. The gravity
survey should assist our geological team in identifying massive
sulphide target zones that are not associated with magnetic
anomalies, which has been our principal targeting tool in the
program to date. An area of approximately 2 km2
will be covered with a 100 metre by 100 metre gravity point
spacing. A surrounding area of approximately 9 km2
will be covered with 200 metre x 200 metre point spacing. The
gravity survey is expected to be completed by the end of November
2014.
Colquipucro drill program
Drilling is continuing with one drill rig at the adjacent
Colquipucro silver oxide project, located 2 kilometres to the north
of Ayawilca (see Figure 3). Tinka is carrying out a
10-hole, 1,500 metre drill program consisting of infill and
resource extension drilling. We expect the drill program at
Colquipucro to be completed by the end of November, with results of
the full program to be released by the end of January
2015.
The qualified person, Dr. Graham
Carman, Tinka's President and CEO, and a Fellow of the
Australasian Institute of Mining and Metallurgy, has reviewed and
verified the technical contents of this release.
About Tinka Resources Limited
Tinka is a junior resource acquisition and exploration company
with projects in Peru. Tinka's focus is on its 100%-owned
Ayawilca and Colquipucro projects in the highly mineralized
zinc-lead-silver belt of central Peru, 200 kilometres north of Lima. The Ayawilca project, located 40
kilometres from Peru's largest
historic zinc mine, Cerro de Pasco,
has the potential to be a major zinc sulphide discovery. The
nearby Colquipucro silver oxide project is a near-surface,
sandstone hosted silver oxide deposit with a current inferred
resource containing 32 million ounces silver with potential for
expansion.
On behalf of the
Board,
"Graham
Carman"
Dr. Graham Carman,
President & CEO
|
|
Forward Looking Statements. Certain information in this news
release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws
(collectively "forward-looking statements"). All
statements, other than statements of historical fact are
forward-looking statements. Forward-looking statements are based on
the beliefs and expectations of Tinka as well as assumptions made
by and information currently available to Tinka's management.
Such statements reflect the current risks, uncertainties and
assumptions related to certain factors including, without
limitations, capital and other costs varying significantly from
estimates, production rates varying from estimates, changes in
world metal markets, changes in equity markets, uncertainties
relating to the availability and costs of financing needed in the
future, equipment failure, unexpected geological conditions,
imprecision in resource estimates or metal recoveries, success of
future development initiatives, competition, operating performance,
environmental and safety risks, delays in obtaining or failure to
obtain necessary permits and approvals from local authorities,
community relations, and other development and operating risks.
Should any one or more of these risks or uncertainties materialize,
or should any underlying assumptions prove incorrect, actual
results may vary materially from those described herein.
Although Tinka believes that assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to the
inherent uncertainty therein. Except as may be required by
applicable securities laws, Tinka disclaims any intent or
obligation to update any forward-looking statement.
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.
Notes on core sampling:
All holes are diamond cores with recoveries generally at or close
to 100%. The drill core (typically HQ size) is marked up,
logged, and photographed on site. The cores are then cut in
half at the Company's core storage facility with half-cores stored
as a future reference. The other half-core is bagged on
average over 2 metre composite intervals and sent to SGS laboratory
in Lima for assay in
batches. Standards and blanks are inserted into each batch
prior to departure from the Company's core storage
facilities. At the laboratory, samples are dried, crushed to
100% passing 2mm, then 500 grams pulverized for multi-element
analysis by ICP using multi-acid digestion. Samples assaying over
1% zinc, lead, or copper are reassayed using precise ore-grade AAS
techniques.
Notes on assay results (see Table1):
Zinc intersections have been calculated on the basis of a 1% zinc
cut-off over 6 metre intervals.
Table 1. Summary of drill results (new results
highlighted) and significant past drill results from
Ayawilca
|
|
|
|
|
|
|
|
Drill
hole
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Zn
(%)
|
Pb
(%)
|
Ag
(g/t)
|
Cu
(%)
|
A14-22
|
170.00
|
318.50
|
148.50
|
4.33
|
0.36
|
15
|
0.03
|
including
|
211.20
|
244.00
|
32.80
|
7.44
|
0.02
|
10
|
0.02
|
including
|
228.00
|
233.75
|
5.75
|
16.76
|
0.02
|
24
|
0.07
|
and
|
283.50
|
314.50
|
31.00
|
6.31
|
0.39
|
13
|
0.02
|
including
|
293.90
|
295.90
|
2.00
|
28.94
|
5.84
|
139
|
0.09
|
A14-21
|
164.00
|
183.60
|
19.60
|
5.67
|
0.02
|
8
|
0.05
|
including
|
166.00
|
172.00
|
6.00
|
10.15
|
0.04
|
14
|
0.06
|
and
|
298.00
|
370.60
|
72.60
|
0.44
|
0.05
|
15
|
0.08
|
including
|
298.00
|
300.00
|
2.00
|
0.15
|
0.00
|
0
|
0.00
|
A14-20
|
164.00
|
166.20
|
2.20
|
20.96
|
0.11
|
80
|
0.37
|
and
|
179.85
|
214.00
|
34.15
|
5.27
|
0.25
|
22
|
0.04
|
including
|
179.85
|
191.80
|
11.95
|
10.52
|
0.40
|
23
|
0.02
|
including
|
179.85
|
184.00
|
4.15
|
24.80
|
1.00
|
58
|
0.04
|
and
|
242.00
|
250.00
|
8.00
|
2.23
|
1.28
|
181
|
0.09
|
and
|
268.00
|
310.00
|
42.00
|
4.26
|
0.08
|
25
|
0.04
|
including
|
299.80
|
301.00
|
1.20
|
18.64
|
0.14
|
52
|
0.01
|
A14-19
|
184.00
|
328.90
|
144.90
|
3.88
|
0.03
|
7
|
0.02
|
including
|
250.00
|
268.00
|
18.00
|
7.11
|
0.01
|
11
|
0.03
|
|
|
|
|
|
|
|
|
SIGNIFICANT PAST
RESULTS:
|
|
|
|
|
|
A12-04A
|
260.00
|
280.00
|
20.00
|
7.12
|
0.02
|
9
|
0.04
|
including
|
266.00
|
278.00
|
12.00
|
10.51
|
0.03
|
14
|
0.05
|
A12-08
|
162.00
|
232.00
|
70.00
|
4.77
|
0.16
|
5
|
0.03
|
including
|
170.00
|
174.00
|
4.00
|
11.66
|
0.03
|
9
|
0.05
|
and
|
195.50
|
232.00
|
36.50
|
6.51
|
0.02
|
5
|
0.06
|
including
|
195.50
|
214.50
|
19.00
|
9.02
|
0.02
|
6
|
0.08
|
and
|
266.00
|
322.80
|
56.80
|
3.60
|
0.02
|
5
|
0.02
|
A12-09
|
216.00
|
245.50
|
29.50
|
3.21
|
0.12
|
6
|
0.06
|
A13-01
|
228.00
|
235.20
|
7.20
|
8.54
|
0.09
|
6
|
0.07
|
A13-02
|
236.00
|
328.00
|
92.00
|
2.90
|
0.10
|
5
|
0.02
|
A13-03
|
165.30
|
174.00
|
8.70
|
4.31
|
0.57
|
11
|
0.07
|
A13-04
|
190.00
|
198.00
|
8.00
|
8.37
|
0.02
|
6
|
0.04
|
and
|
266.00
|
332.00
|
66.00
|
2.28
|
0.11
|
4
|
0.02
|
A13-05
|
130.30
|
343.20
|
212.90
|
5.34
|
0.17
|
15
|
0.03
|
including
|
130.30
|
179.50
|
49.20
|
10.07
|
0.55
|
32
|
0.16
|
including
|
150.00
|
166.00
|
16.00
|
18.14
|
0.05
|
39
|
0.25
|
and
|
316.00
|
326.00
|
10.00
|
12.93
|
0.02
|
42
|
0.04
|
A13-06
|
170.00
|
196.00
|
26.00
|
2.20
|
0.05
|
5
|
0.01
|
and
|
210.00
|
322.00
|
112.00
|
3.71
|
0.04
|
6
|
0.01
|
including
|
262.00
|
322.00
|
60.00
|
4.67
|
0.07
|
7
|
0.01
|
including
|
264.65
|
278.00
|
13.35
|
8.42
|
0.20
|
14
|
0.02
|
and
|
312.00
|
322.00
|
10.00
|
7.85
|
0.07
|
7
|
0.01
|
A13-07
|
75.80
|
76.90
|
1.10
|
30.00
|
0.06
|
54
|
0.10
|
A13-12A
|
250
|
268
|
18.00
|
3.84
|
0.03
|
5
|
0.05
|
and
|
280.00
|
292.00
|
12.00
|
4.22
|
0.24
|
16
|
0.05
|
A13-15
|
329.20
|
344.00
|
14.80
|
4.80
|
0.01
|
5
|
0.09
|
A13-16
|
370.00
|
394.00
|
24.00
|
2.80
|
0.01
|
2
|
0.01
|
A13-17
|
372.10
|
394.00
|
21.90
|
3.10
|
0.19
|
17
|
0.05
|
A14-18
|
331.20
|
360.00
|
28.80
|
5.62
|
0.17
|
10
|
0.02
|
including
|
342.50
|
350.00
|
7.50
|
8.75
|
0.30
|
20
|
0.04
|
and
|
375.10
|
412.00
|
36.90
|
5.62
|
0.41
|
9
|
0.04
|
DD53
|
226.00
|
280.00
|
54.00
|
3.50
|
0.12
|
8
|
0.03
|
and
|
292.00
|
315.10
|
23.10
|
2.54
|
0.03
|
2
|
0.01
|
DD52B
|
272.00
|
288.00
|
16.00
|
6.80
|
0.13
|
9
|
0.00
|
DD70
|
100.00
|
104.00
|
4.00
|
10.45
|
0.04
|
59
|
0.13
|
and
|
156.00
|
170.00
|
14.00
|
4.18
|
0.07
|
12
|
0.02
|
DD71
|
196.00
|
200.00
|
4.00
|
30.90
|
0.32
|
63
|
0.13
|
Table 2. Drill hole collar coordinates and hole details
(new drill holes shown in bold)
|
|
|
|
|
|
|
|
|
Drill
hole
|
Easting
|
Northing
|
Elevation
|
Depth
|
Azimuth
|
Dip
|
Comment
|
Date
|
A14-19
|
332951
|
8845940
|
4263
|
407.90
|
360
|
-75
|
New
results
|
2014
|
A14-20
|
332896
|
8845986
|
4270
|
362.70
|
360
|
-70
|
New
results
|
2014
|
A14-21
|
334112
|
8846100
|
4000
|
515.00
|
350
|
-60
|
New
results
|
2014
|
A14-22
|
333000
|
8845928
|
4261
|
355.10
|
10
|
-70
|
New
results
|
2014
|
A14-23
|
333078
|
8845921
|
4242
|
323.10
|
360
|
-75
|
Pending
|
2014
|
A14-24
|
334100
|
8846385
|
4055
|
455.90
|
360
|
-70
|
Pending
|
2014
|
A14-25
|
332903
|
8846062
|
4263
|
350.40
|
360
|
-70
|
Pending
|
2014
|
|
|
|
|
|
|
|
|
|
PAST AYAWILCA
DRILL HOLES:
|
|
|
|
|
|
A12-01
|
333188
|
8846050
|
4210
|
327.10
|
360
|
-60
|
Released
|
2012
|
A12-02
|
333188
|
8846049
|
4210
|
303.00
|
360
|
-90
|
Released
|
2012
|
A12-03
|
333194
|
8846208
|
4227
|
349.45
|
180
|
-70
|
Released
|
2012
|
A12-04A
|
332967
|
8846187
|
4241
|
285.60
|
360
|
-90
|
Released
|
2012
|
A12-05
|
332967
|
8846188
|
4241
|
327.70
|
360
|
-60
|
Released
|
2012
|
A12-06
|
333591
|
8846155
|
4153
|
359.45
|
360
|
-60
|
Released
|
2012
|
A12-07
|
333591
|
8846154
|
4153
|
367.10
|
360
|
-90
|
Released
|
2012
|
A12-08
|
333389
|
8846042
|
4191
|
344.20
|
180
|
-70
|
Released
|
2012
|
A12-09
|
333389
|
8846042
|
4191
|
360.80
|
360
|
-90
|
Released
|
2012
|
A12-10
|
333391
|
8846197
|
4181
|
366.55
|
180
|
-70
|
Released
|
2012
|
A13-01
|
333590
|
8846039
|
4145
|
359.95
|
180
|
-70
|
Released
|
2013
|
A13-02
|
333389
|
8846040
|
4191
|
370.90
|
180
|
-60
|
Released
|
2013
|
A13-03
|
333590
|
8846041
|
4145
|
338.25
|
180
|
-90
|
Released
|
2013
|
A13-04
|
333591
|
8846038
|
4145
|
380.10
|
180
|
-60
|
Released
|
2013
|
A13-05
|
332954
|
8846075
|
4252
|
361.50
|
360
|
-90
|
Released
|
2013
|
A13-06
|
332953
|
8846074
|
4251
|
400.10
|
180
|
-70
|
Released
|
2013
|
A13-07
|
332952
|
8846074
|
4251
|
314.10
|
270
|
-60
|
Released
|
2013
|
A13-08
|
332954
|
8846075
|
4252
|
350.60
|
90
|
-70
|
Released
|
2013
|
A13-09
|
333188
|
8846050
|
4210
|
347.80
|
180
|
-60
|
Released
|
2013
|
A13-10
|
333500
|
8845870
|
4168
|
326.10
|
360
|
-69.9
|
Released
|
2013
|
A13-11
|
333500
|
8845870
|
4168
|
344.20
|
180
|
-69.8
|
Released
|
2013
|
A13-12
|
333691
|
8846004
|
4133
|
122.00
|
180
|
-60
|
Released
|
2013
|
A13-12A
|
333691
|
8846004
|
4133
|
356.80
|
180
|
-69.9
|
Released
|
2013
|
A13-13
|
333797
|
8845950
|
4120
|
386.80
|
180
|
-65.5
|
Released
|
2013
|
A13-14
|
333500
|
8846134
|
4167
|
398.70
|
360
|
-60.9
|
Released
|
2013
|
A13-15
|
333300
|
8846065
|
4200
|
355.40
|
180
|
-64.9
|
Released
|
2013
|
A13-16
|
333898
|
8846295
|
4112
|
454.70
|
360
|
-59.6
|
Released
|
2013
|
A13-17
|
333898
|
8846294
|
4112
|
422.30
|
360
|
-75.6
|
Released
|
2013
|
A14-18
|
333900
|
8846429
|
4122
|
448.30
|
360
|
-60
|
Released
|
2014
|
DD52
|
332950
|
8846081
|
4254
|
196.60
|
310
|
-50
|
Released
|
2011
|
DD52B
|
332953
|
8846076
|
4252
|
318.80
|
360
|
-70
|
Released
|
2011
|
DD53
|
332967
|
8846186
|
4241
|
315.10
|
165
|
-60
|
Released
|
2011
|
DD66
|
332909
|
8846064
|
4252
|
230.60
|
165
|
-50
|
Released
|
2011
|
DD67
|
332817
|
8846037
|
4272
|
230.80
|
165
|
-50
|
Released
|
2011
|
DD68
|
332873
|
8846192
|
4260
|
176.40
|
165
|
-50
|
Released
|
2011
|
DD69
|
332775
|
8846170
|
4277
|
198.20
|
165
|
-50
|
Released
|
2011
|
DD70
|
332826
|
8846305
|
4264
|
243.30
|
165
|
-50
|
Released
|
2011
|
DD71
|
332733
|
8846277
|
4291
|
231.10
|
165
|
-50
|
Released
|
2011
|
Note: the mineralized rock is interpreted from drill core
measurements to be generally gently-dipping. The true widths
of the intercepts are believed to be at least 75% of the down-hole
widths.
Note on drill hole data:
Eastings and Northings are based on the PSAD56/18S UTM
datum. The coordinates for the current drill holes are
collected via a hand-held GPS and are considered accurate to within
a few metres. Drill hole locations from the previous programs were
surveyed with a theodolite or determined by tape and compass from a
known survey point. Elevations are taken from a digital topographic
model of the project based on a number of known points and are
considered accurate to within a few metres. Azimuth and dip
measurements were taken using compass and inclinometer at surface.
All holes from A13-10 onwards were down-hole surveyed; small
variances in both azimuth and dip do occur down hole.
IMAGES:
Figure 1. Drill map of Ayawilca over ground magnetics
image (white-red areas are magnetic bodies)
Figure 2. West Ayawilca drill map (plan view)
with current drill holes and intersections
Figure 3. Geology and location map of Ayawilca-Colquipucro
projects, central Peru
SOURCE Tinka Resources Limited