- 7.2 metres at 6.5 % zinc, 136 g/t indium and 10 g/t silver
from 350.8 metres depth, including
-
- 2.0 metres at 14.7 % zinc, 324 g/t indium & 15 g/t
silver from 356.0 metres depth.
Hole A17-102 (South Ayawilca – infill):
- 4.0 metres at 7.1 % zinc & 52 g/t silver from 356.5
metres depth.
* MS = Massive sulphides
Dr. Graham Carman, Tinka´s
President and CEO, stated: "We believe the new intercepts in
drill hole A17-091A are very significant, as they open up the Zone
3 area for potential resource expansion in an area that has seen
little drilling. The same magnetic anomaly that outlines the
Ayawilca Zinc and Tin Zones continues into Zone 3, extending the
prospective zone by hundreds of metres to the northeast. A drill
rig will continue to operate in the Zone 3 area following-up on
this exciting discovery. Drilling is now expected to continue
well into 2018 without a break, other than for the Christmas
period."
Dr. Carman continued: "These holes are the first to be
released following our zinc and tin resource update
(see Press Release Nov 8,
2017). Already, new results are indicating
that the project is likely to continue to grow with additional
drilling. Drill hole A17-100 intersected 3 metres
grading 9.1 % zinc in a 200-metre step-out hole from the resource
at South Ayawilca. A large 750-metre gap remains undrilled between
significant zinc intersections at South Ayawilca and Zone
3. While exploration drilling continues with the goal of
expanding the project resources, we are concurrently working
on de-risking the project through metallurgical tests of the two
main styles of mineralization as well as beginning preliminary
desktop mining studies. We look forward to providing updates on
these programs as they progress."
True thicknesses of the zinc and tin intersections are estimated
to be at least 85% of the downhole thickness. Significant drill
intercepts post the recent resource estimate are summarized in
Table 1 with the strongest intercepts in bold text. Table 2
summarizes the drill collar information for the recent
holes.
Table 1. Significant new intercepts at Ayawilca in 2017 drill
program (post resource update)
Drill
hole
|
From
m
|
To
m
|
Interval
m
|
Zn %
|
Pb
%
|
Ag
g/t
|
Indium
g/t
|
Tin
%
|
Copper
%
|
Area
|
Reported
|
A17-091A
|
570.20
|
580.50
|
10.30
|
5.9
|
2.0
|
66
|
4
|
|
|
Zone 3
|
Here
|
including
|
576.00
|
580.50
|
4.50
|
9.4
|
1.1
|
45
|
6
|
|
|
|
|
and
|
588.50
|
602.00
|
13.50
|
|
|
54
|
|
0.83
|
0.39
|
|
|
including
|
588.50
|
596.00
|
7.50
|
|
|
54
|
|
1.14
|
0.14
|
|
|
and
|
608.00
|
612.00
|
4.00
|
|
|
5
|
|
1.04
|
0.11
|
|
|
including
|
610.00
|
612.00
|
2.00
|
|
|
6
|
|
1.82
|
0.13
|
|
|
A17-097
|
166.00
|
167.00
|
1.00
|
11.4
|
2.8
|
317
|
0
|
|
|
South
|
Here
|
A17-099
|
169.20
|
170.00
|
0.80
|
12.2
|
1.6
|
219
|
0
|
|
|
South
|
Here
|
A17-100
|
225.50
|
228.50
|
3.00
|
9.1
|
0.2
|
79
|
2
|
|
|
South
|
Here
|
and
|
325.30
|
326.20
|
0.90
|
6.3
|
1.8
|
232
|
27
|
|
|
|
|
and
|
415.80
|
418.00
|
2.20
|
2.5
|
4.5
|
44
|
1
|
|
|
|
|
A17-101
|
350.80
|
358.00
|
7.20
|
6.5
|
0.1
|
10
|
136
|
|
|
South
|
Here
|
including
|
356.00
|
358.00
|
2.00
|
14.7
|
0.1
|
15
|
324
|
|
|
|
|
A17-102
|
356.50
|
360.50
|
4.00
|
7.1
|
0.0
|
52
|
52
|
|
|
South
|
Here
|
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 SGS laboratories in Lima 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 using multi-acid digestion. Samples
assaying over 1% zinc, lead, or copper and over 100 g/t silver are
re-assayed using precise ore-grade AAS techniques.
Samples which assay approximately 200 ppm tin or greater in the
ICP analysis are re-assayed for tin by fusion with sodium peroxide
and AAS finish (SGS Lima laboratory method SGS-AAS90B).
Table 2. Summary of Drill Collar Information
(coordinates are in UTM Zone 18S WGS84 datum)
Drill
Hole
|
Easting
|
Northing
|
Total depth
(m)
|
Elevation
(m)
|
Azimuth
|
Dip
|
A17-091A
|
334043
|
8846140
|
625.1
|
4140
|
35
|
-70
|
A17-097
|
333331
|
8845046
|
370.0
|
4209
|
130
|
-85
|
A17-099
|
333435
|
8845122
|
400.7
|
4200
|
130
|
-85
|
A17-100
|
333811
|
8845256
|
461.0
|
4166
|
130
|
-85
|
A17-101
|
333346
|
8845194
|
371.2
|
4210
|
260
|
-75
|
A17-102
|
333385
|
8845285
|
438.9
|
4205
|
0
|
-90
|
On behalf of the Board,
"Graham Carman"
Dr. Graham Carman, President
& CEO
Qualified Person – Mineral Resources: The Mineral
Resources disclosed in this press release have been estimated by
Mr. David Ross, P.Geo., an employee
of RPA and independent of Tinka. By virtue of his education
and relevant experience, Mr. Ross is a "Qualified Person" for the
purpose of National Instrument 43-101. The Mineral Resources have
been classified in accordance with CIM Definition Standards for
Mineral Resources and Mineral Reserves (May, 2014). An
independent National Instrument 43-101 Technical Report (the "NI
43-101 Technical Report") on the Mineral Resource Estimate for
the Ayawilca Property, Department of Pasco, Peru is expected to be filed shortly at
www.sedar.com and on the Company's website at
www.tinkaresources.com.
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 Inferred Mineral
Resource estimate now consists of 42.7 Mt at 6.0 % zinc, 0.2 %
lead, 17 g/t silver & 79 g/t indium, and a Tin Zone Inferred
Mineral Resource of 10.5 Mt at 0.63 % tin, 0.23 % copper & 12
g/t silver (Nov. 8, 2017, release).
Drilling for resource extensions and the testing of new targets is
ongoing.
Forward Looking Statements: Certain information in this
news release contains forward-looking statements and
forward-looking information within the meaning of 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