VANCOUVER, April 3, 2017 /CNW/ - Tinka Resources
Limited ("Tinka" or the "Company") (TSXV:
TK) (OTCPK: TKRFF) is pleased to announce new results
from drill holes A17-056 and A17-057, the first two holes of the
10,000 metre 2017 drill program at Ayawilca, Peru, and the first holes to be drilled at
South Ayawilca. Both holes were drilled from the same
platform, approximately 400 metres from the existing zinc mineral
resource. Two zones of significant zinc mineralization were
intersected in both holes, associated with gently dipping massive
to semi-massive sulphide replacements of carbonate and clastic
sediments. Mineralization is open in all directions. Zinc
mineralization is all sulphide (sphalerite, marmatite) accompanied
by minor galena and iron sulphides.
There have been logistical delays to the drill program caused by
heavy summer rainfall. Tinka will mobilize a third rig to site
during the first week of April to accelerate the drill program.
Key Highlights:
Hole A17-056 (results from surface to 127 metres and
from 238 to 294 metres are reported here; results from 127-238
metres were previously reported March 6,
2017 including 62 metres at 5.6% Zn from 126 m
depth):
- 51.9 metres at 10.1 % zinc, 62 g/t silver & 233 g/t
indium from 242.0 metres depth, including:
- 14.9 metres at 20.6 % zinc, 152 g/t silver & 441 g/t
indium from 279.0 metres depth, including:
- 6.4 metres at 37.5 % zinc, 301 g/t silver & 916 g/t
indium from 279.0 metres depth;
- The hole was lost at 293 metres depth but successfully
wedged and continued as hole A17-056A where it was recently
completed to a depth of 376 metres. Assays are pending for the
bottom section.
Hole A17-057 (results from surface to 294 metres are
reported here):
- 40.1 metres at 9.1 % zinc, 22 g/t silver & 168 g/t
indium from 157.6 metres depth, including:
- 9.6 metres at 16.8 % zinc, 22 g/t silver & 299 g/t
indium from 168.2 metres; and
- 15.3 metres at 20.0 % zinc, 2.5 % lead, 102 g/t silver &
263 g/t indium from 264.0 metres depth, including:
- 3.25 metres at 34.5% zinc, 2.1 % lead, 96 g/t silver &
196 g/t indium from 265.75 metres;
- 5.2 metres at 32.5 % zinc, 69 g/t silver, & 639 g/t
indium from 272.5 metres depth;
- The hole was completed to 477 metres depth. Minor additional
mineralization was intersected with assays pending.
Dr. Graham Carman, Tinka´s President and CEO, stated: "The
first two holes at South Ayawilca have exceeded our expectations in
terms of thickness and grade of zinc mineralization. These
two holes are undoubtedly the best adjacent mineralized holes ever
drilled at Ayawilca. There are also significant silver and
indium credits. The intercepts in these holes are between 60
and 100 metres apart, and we interpret two mineralized
bodies gently dipping to the south, formed by replacement of the
host sequence, and remaining open in all directions (see Figures 1
& 2). Furthermore, mineralization can be correlated from hole
to hole showing good continuity, and aiding our interpretation of
this blind target. Hole A17-056 has semi-massive to massive
sulphide replacement of the entire 150 metre thick carbonate
sequence, indicating a very strongly mineralized system."
Dr. Carman continued, "Our focus is now on determining
the scale of the mineralization at South Ayawilca. Rig 1 is
currently drilling hole A17-059 to test the northwest extension of
the discovery at South Ayawilca, while Rig 2 has recently commenced
hole A17-060 to test the southeast extension. Very soon we
will have three drill rigs operating at South Ayawilca. We
plan to mobilise a fourth rig in late April to test the Zone 3 area
located 2 kilometres east of where we are currently
drilling."
Both holes were drilled at the same azimuth direction (300
degrees) at angles of -75 and -55 degrees, respectively (Figure
1). True thicknesses of the zinc intersections are
estimated to be at least 85% of the downhole thickness. All
significant results of the 2017 program are summarized in Table
1.
Table 1. Summary of 2017 Drill Results
|
|
|
|
|
|
|
|
|
Drill
hole
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Zn
(%)
|
Pb
(%)
|
Ag
(g/t)
|
Indium
(g/t)
|
Reported
|
A17-056
1
|
90.30
|
90.65
|
0.35 2
|
29.0
|
0.4
|
82
|
443
|
here
|
and
|
113.00
|
113.40
|
0.402
|
31.2
|
0.04
|
85
|
759
|
here
|
and
|
126.00
|
189.90
|
63.903
|
5.6
|
0.1
|
17
|
29
|
March 6/17
|
including
|
127.50
|
145.40
|
17.90
|
11.6
|
0.2
|
36
|
20
|
March 6/17
|
including
|
127.50
|
133.30
|
5.80
|
22.5
|
0.3
|
77
|
50
|
March 6/17
|
and
|
199.20
|
204.70
|
5.50
|
5.8
|
0.1
|
6
|
38
|
here
|
and
|
228.50
|
233.70
|
5.20
|
12.9
|
0
|
11
|
162
|
March 6/17
|
and
|
242.00
|
293.90
|
51.90
|
10.1
|
0.1
|
624
|
233
|
here
|
including
|
279.00
|
293.90
|
14.90
|
20.6
|
0.2
|
1524
|
441
|
here
|
including
|
279.00
|
285.40
|
6.40
|
37.5
|
0.4
|
301
|
916
|
here
|
A17-057
|
84.90
|
86.35
|
1.45
|
24.8
|
0
|
62
|
157
|
here
|
and
|
143.70
|
144.50
|
0.802
|
40.4
|
0.1
|
138
|
261
|
here
|
and
|
157.60
|
197.70
|
40.10
|
9.1
|
0.2
|
22
|
168
|
here
|
including
|
168.20
|
177.80
|
9.60
|
16.8
|
0.1
|
22
|
299
|
here
|
and
|
227.15
|
234.90
|
7.75
|
3.5
|
0.2
|
21
|
85
|
here
|
and
|
264.00
|
279.30
|
15.30
|
20.0
|
2.5
|
102
|
263
|
here
|
including
|
265.75
|
269.00
|
3.25
|
34.5
|
2.1
|
96
|
196
|
here
|
including
|
272.50
|
277.70
|
5.20
|
32.5
|
1.3
|
69
|
639
|
here
|
A17-058
|
0.00
|
301.00
|
Hole abandoned in
upper sandstone due to collapse in a fault zone.
Hole at West Ayawilca
did not reach target depth.
|
All assays were
calculated using a zinc cut-off grade of 2% Zn over a 6 metre
interval.
|
1 Hole
A17-056 was lost at 293.9 m, then wedged and completed to 376 m as
A17-056A; assays are awaited from 294-376 m.
|
2 Narrow
vein; true thickness is unknown at this time.
|
3 The
March 6 2017 release indicated 62.4 metres. Additional
sampling and assaying has extended the interval by 1.5 m for a
total intercept of 63.9 m at the same grade.
|
4 Hole
A17-056 had a 20 cm interval from 287.1-287.3 m assaying >1 %
Ag. This was cut to 1000 g/t for avg. interval grade.
|
|
Notes on sampling and assaying:
Drill holes are diamond HQ-size core holes with recoveries
generally above 80% and often close to 100%. The drill core
is marked up, logged, and photographed on site. The cores are
cut in half at the Company's core storage facility, with half-cores
stored as a future reference. Half-core is bagged on average
over 1 to 2 metre composite intervals and sent to ALS laboratory in
Lima, an ISO 9001:2000-registered
laboratory, for assay in batches. Standards and blanks are
inserted into each batch prior to departure from Tinka'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 (MS) using multi-acid digestion.
Samples assaying over 1% zinc, lead, or copper are re-assayed using
precise ore-grade AAS techniques.
Figure 2. Map of 2017 Ayawilca drill program on
airborne magnetics (red = magnetic sources)
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 an exploration
and development company with its flagship property being the
100%-owned Ayawilca carbonate replacement deposit (CRD) in the
zinc-lead-silver belt of central Peru, 200 kilometres northeast of Lima. The Ayawilca Zinc Zone has an Inferred
Mineral Resource of 18.8 Mt at 5.9 % zinc, 0.2 % lead, 15 g/t
silver & 74 g/t indium, and a Tin Zone Inferred Mineral
Resource of 5.4 Mt at 0.76 % tin, 0.31 % copper & 18 g/t
silver. Both resources are open for expansion (May 25, 2016). The Silver Zone at Colquipucro, 2
km north of the Zinc Zone, has an Indicated Mineral Resource of 2.9
Mt at 112 g/t silver for 10.4 Moz silver and an Inferred Mineral
Resource of 2.2 Mt at 105g/t silver for 7.5 Moz silver hosted by
oxidized lenses between the surface and 80 metres depth
(Feb. 26, 2015).
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, drilling results, the Company's
expectations regarding mineral resource calculations, 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 agreements and
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
SOURCE Tinka Resources Limited