VANCOUVER, Dec. 18, 2017 /CNW/ - Tinka Resources
Limited ("Tinka" or the "Company") (TSXV &
BVL: TK) (OTCPK: TKRFF) Vancouver, Canada announces that the
Company has filed 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, in support of the
Company's news release dated November
8, 2017.
The updated Inferred Mineral Resource estimate for the Ayawilca
Zinc Zone has more than doubled since May
2016 and is now estimated to be 42.7 million tonnes
grading 7.3 % zinc equivalent (ZnEq). In addition, Tinka
announced an updated tin-copper-silver resource estimated to be
10.5 million tonnes grading 0.70% tin equivalent (SnEq). The
Tin Zone and Zinc Zone resources do not overlap. Both of the
Mineral Resources were assigned to the Inferred category and
reported at an NSR cut-off value of US$55/tonne, as estimated by Roscoe Postle
Associates Inc. of Toronto, Canada
("RPA Inc.").
Tinka is continuing to drill beyond the Mineral Resource
boundaries looking for new zinc discoveries and/or extensions of
known mineralization. On December 6,
2017, the Company announced a new discovery at Zone 3 with
one hole intersecting significant mineralization of 10.3 metres at
5.9 % zinc, 2.0 % lead & 66 g/t silver from 570.2 metres,
including 4.5 metres at 9.4 % zinc, 1.1 % lead & 45 g/t silver
from 576.0 metres depth (see news releases Dec. 6/17).
Highlights of the Mineral Resource Updates
- Inferred Zinc Mineral Resource of 42.7 million tonnes
grading 6.0 % zinc, 0.2 % lead, 17 g/t silver & 79 g/t indium
(7.3 % ZnEq), containing:
-
- 5.6 billion pounds of zinc;
- 3,361 tonnes of indium;
- 23.1 million ounces of silver; and
- 209 million pounds of lead.
- Inferred Tin Mineral Resource of 10.5 million tonnes grading
0.63 % tin, 0.23 % copper, & 12 g/t silver (0.70 % SnEq),
including:
-
- 145 million pounds of tin;
- 53 million pounds of copper; and
- 4.2 million ounces of silver.
The Colquipucro Deposit Indicated Mineral Resource of 7.4
million tonnes grading 60 g/t silver and Inferred Mineral
Resource of 8.5 million tonnes grading 48 g/t silver remains
unchanged since the February 2015
mineral resource estimate.
Dr. Graham Carman, Tinka's
President and CEO, stated: "The NI 43-101 report now filed
includes all drill results up to October 10,
2017. Tinka plans to continue drill testing new areas,
including Zone 3, with the aim of increasing the resources
further. At the same time, we are de-risking the project with
additional metallurgical and desktop mining studies leading to a
PEA in 2018."
The NI 43-101 Technical Report was authored by Mr. David Ross, P.Geo. of RPA Inc., who is an
independent "qualified person" as defined by NI 43-101. Mr. Ross
has read and approved the technical contents of this release as it
pertains to the Mineral Resource estimates.
The NI 43-101 Technical Report may be found under the Company's
profile on SEDAR at www.sedar.com and on the Company's website at
www.tinkaresources.com.
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 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 (this release). Drilling for resource extensions and the
testing of new targets is ongoing. 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.
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