DRILLS 13 METRES AT 19 % ZINC & 19 METRES AT
10 % ZINC IN HOLE A17-061
VANCOUVER, May 3, 2017 /CNW/ - Tinka Resources
Limited ("Tinka" or the "Company") (TSXV:
TK) (OTCPK: TKRFF) is pleased to announce results from
four new drill holes at its 100%-owned Ayawilca zinc project in
central Peru. Three holes were drilled into the new discovery
area at South Ayawilca, with one drilled at West Ayawilca.
These new results confirm high grade zinc mineralization at South
Ayawilca is associated with gently dipping massive to semi-massive
sulphide replacements of carbonate and clastic sediments.
Hole A17-061 is approximately 80 metres off-section from holes
A17-056 and A17-057 (April 3, 2017,
TK press release). Zinc mineralization is all sulphide
(sphalerite, marmatite) accompanied by minor galena and iron
sulphides.
We have now released results for six of the planned 25 to 30
holes in the 2017 drill program. Three drill rigs are
currently turning at South Ayawilca, with an additional rig to be
mobilized to test the Zone 3 area shortly.
Key Highlights:
Hole A17-061 (South Ayawilca):
- 18.6 metres at 10.4 % zinc & 52 g/t silver from 184.0
metres depth (includes 3.1 metres no recovery assigned a zero
grade), including:
-
- 2.6 metres at 23.6 % zinc, 2.4 % lead & 192 g/t silver
from 196.2.0 metres depth; and
- 13.4 metres at 18.7 % zinc, 57 g/t silver & 463 g/t
indium from 220.0 metres depth, including:
-
- 7.9 metres at 29.3 % zinc, 71 g/t silver & 719 g/t
indium from 224.1 metres depth; and
- 1.8 metres at 37.0 % zinc, 85 g/t silver & 808 g/t
indium from 265.0 metres depth.
Hole A17-060 (South Ayawilca):
- 4.5 metres at 15.0 % zinc, 20 g/t silver & 383 g/t
indium from 275.0 metres depth; and
- 30.5 metres at 3.4% zinc & 10 g/t silver from 298.0
metres depth, including:
-
- 8.6 metres at 5.1 % zinc & 11 g/t silver from 303.4
metres depth.
Hole A17-056A (continuation of A17-056):
- 4.1 metres at 18.6 % zinc, 27 g/t silver & 224 g/t
indium from 309.0 metres depth, including:
-
- 2.6 metres at 27.3 % zinc, 38 g/t silver & 336 g/t
indium from 310.5 metres depth.
Hole A17-058 (West Ayawilca):
- 4.2 metres at 20.2 % zinc, 4.2 % lead & 329 g/t silver
from 103.5 metres depth (vein);
- Abandoned at 301 metres prior to target
depth.
Dr. Graham Carman, Tinka´s
President and CEO, stated: "This set of drill results continues
to show significant thicknesses of high grade zinc mineralization
at South Ayawilca, as we step out from the recent discovery
holes. The zinc bodies dip gently to the south, with the
thicker zones of mineralization lying between two interpreted
west-dipping northeast-trending faults approximately 250 metres
apart, appearing to thicken towards the north. These structures
were likely important conduits for the zinc mineralization.
The mineralization at South Ayawilca remains open along strike in
both directions (see Figure 1 & Figure 2). At West
Ayawilca, additional holes are required to fully test the
extensions with more holes planned."
Dr. Carman continued, "Drilling continues with
three rigs at South Ayawilca, focusing on expanding the new zinc
discovery to the northeast towards the Central Ayawilca resource,
and to provide confidence of continuity of mineralization. While
our resource expansion drilling continues at Ayawilca, we are also
looking forward to commencing the drilling at Zone 3."
True thicknesses of the zinc intersections are estimated to be
at least 85% of the downhole thickness, except where otherwise
noted in Table 1. All significant results of the 2017 program are
summarized in Table 1 with the strongest zinc intercepts in bold
text.
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
|
29.0
|
0.4
|
82
|
443
|
April 3
'17
|
And
|
|
113.00
|
113.40
|
0.40
|
31.2
|
0.0
|
85
|
759
|
April 3
'17
|
And
|
|
126.00
|
189.90
|
63.90
|
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
|
April 3
'17
|
And
|
|
228.50
|
233.70
|
5.20
|
12.9
|
0.0
|
11
|
162
|
March 6
'17
|
And
|
|
242.00
|
293.90
|
51.90
|
10.1
|
0.1
|
624
|
233
|
April 3
'17
|
|
Including
|
279.00
|
293.90
|
14.90
|
20.6
|
0.2
|
1524
|
441
|
April 3
'17
|
|
Including
|
279.00
|
285.40
|
6.40
|
37.5
|
0.4
|
301
|
916
|
April 3
'17
|
A17-056A
|
|
286.50
|
296.00
|
9.50
|
9.3
|
0.3
|
19
|
88
|
here
|
And
|
|
309.00
|
313.10
|
4.10
|
18.6
|
0.1
|
27
|
224
|
here
|
|
Including
|
310.50
|
313.10
|
2.60
|
27.3
|
0.1
|
38
|
336
|
here
|
A17-057
|
|
84.90
|
86.35
|
1.45
|
24.8
|
0.0
|
62
|
157
|
April 3
'17
|
And
|
|
143.70
|
144.50
|
0.80
|
40.4
|
0.1
|
138
|
261
|
April 3
'17
|
And
|
|
157.60
|
197.70
|
40.10
|
9.1
|
0.2
|
22
|
168
|
April 3
'17
|
|
Including
|
168.20
|
177.80
|
9.60
|
16.8
|
0.1
|
22
|
299
|
April 3
'17
|
And
|
|
227.15
|
234.90
|
7.75
|
3.5
|
0.2
|
21
|
85
|
April 3
'17
|
And
|
|
264.00
|
279.30
|
15.30
|
20.0
|
2.5
|
102
|
263
|
April 3
'17
|
|
including
|
265.75
|
269.00
|
3.25
|
34.5
|
2.1
|
96
|
196
|
April 3
'17
|
|
including
|
272.50
|
277.70
|
5.20
|
32.5
|
1.3
|
69
|
639
|
April 3
'17
|
A17-058
|
|
103.50
|
107.70
|
4.205
|
20.2
|
4.2
|
3294
|
15
|
here
|
and
|
|
133.25
|
134.35
|
1.105
|
30.3
|
3.2
|
500
|
61
|
here
|
|
|
Hole did not reach
target, lost at 301 metres depth in sandstone
|
|
A17-059
|
|
results
awaited
|
|
|
|
|
|
|
A17-060
|
|
262.40
|
264.40
|
2.00
|
14.8
|
0.0
|
35
|
1178
|
here
|
and
|
|
275.00
|
279.50
|
4.50
|
15.0
|
0.0
|
20
|
383
|
here
|
and
|
|
298.00
|
328.50
|
30.52
|
3.4
|
0.2
|
10
|
38
|
here
|
|
including
|
303.40
|
312.00
|
8.60
|
5.1
|
0.1
|
11
|
6
|
here
|
A17-061
|
|
122.70
|
150.50
|
27.80
|
4.4
|
0.1
|
18
|
24
|
here
|
|
including
|
145.70
|
147.50
|
1.805
|
27.2
|
0.0
|
32
|
157
|
here
|
and
|
|
184.00
|
202.60
|
18.63
|
10.4
|
0.5
|
52
|
59
|
here
|
|
including
|
196.20
|
198.80
|
2.60
|
23.6
|
2.4
|
192
|
19
|
here
|
|
including
|
201.90
|
202.60
|
0.70
|
28.7
|
3.6
|
202
|
41
|
here
|
and
|
|
220.00
|
233.40
|
13.40
|
18.7
|
0.9
|
57
|
463
|
here
|
|
including
|
224.10
|
230.00
|
7.90
|
29.3
|
0.8
|
71
|
719
|
here
|
and
|
|
265.00
|
266.80
|
1.80
|
37.0
|
0.2
|
85
|
808
|
here
|
|
1 hole
lost at 293.9 metres; wedged and completed as A17-056A to 376
metres depth
|
2 includes
0.6 m with no core recovery from 315.2 to 315.8 m; this interval
was given a zero grade
|
3 includes
3.1 m with no core recovery from 198.8 to 201.9 m; this interval
was given a zero grade
|
4 includes
a silver assay cut at 1000 g/t
|
5 high
grade vein intercepts with variable true thicknesses
|
|
Note: Assays are
calculated using a zinc only cut off grade of 2% over 6
metres
|
Notes on sampling and assaying:
Drill holes are diamond HQ or NQ 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.
Table 2. Summary of Drill Collar Information
Drill
Hole
|
WGS84
East
|
WGS84
North
|
Total depth
(m)
|
Elevation
(m)
|
Azimuth
|
Dip
|
A17-056
|
333046
|
8845062
|
293.9
|
4201
|
300
|
-75
|
A17-056A
|
333046
|
8845062
|
376.4
|
4201
|
300
|
-75
|
A17-057
|
333046
|
8845062
|
477.0
|
4201
|
300
|
-55
|
A17-058
|
332557
|
8845657
|
301.0
|
4305
|
040
|
-82
|
A17-059
|
332840
|
8845192
|
248.9
|
4202
|
120
|
-85
|
A17-060
|
333174
|
8845005
|
358.4
|
4220
|
300
|
-70
|
A17-061
|
333058
|
8844996
|
326.9
|
4190
|
290
|
-67
|
Figure 1. Simplified cross section of holes
A17-056, A17-057 & A17-060 (looking northeast)
Figure 2. Map of 2017 Ayawilca drill program on
airborne RTP 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.
On behalf of the Board,
"Graham Carman"
Dr. Graham Carman, President &
CEO
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).
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