VANCOUVER, April 25, 2018 /CNW/ - Tinka Resources
Limited ("Tinka" or the "Company") (TSXV &
BVL: TK) (OTCPK: TKRFF) is pleased to announce assay
results for four new holes from the ongoing drill program at the
Company's 100%-owned Ayawilca project in central Peru. These results include hole A18-114, a
step-out hole approximately 110 metres northwest of the West
Ayawilca zinc resource, which intersected two high-grade zinc
intervals in an area previously untested. Follow-up drilling
is underway to test further extensions of this high-grade
mineralization. Two drills are currently operating at West Ayawilca
and Zone 3, with a third drill rig now mobilizing and expected to
commence drilling by the end of April.
In addition to the West Ayawilca step-out hole (A18-114), three
drill holes from the Zone 3 area are reported here (A18-110, 111,
&112). Previously disclosed zinc intercepts in holes
A18-110 & A18-111 in the Zone 3 area (including 5 metres
grading 16% zinc from 173.8 metres) were reported on February 15, 2018.
Key Highlights
Hole A18-114 (West Ayawilca):
- 19.3 metres at 9.2 % zinc, 0.2 % lead & 19 g/t silver
from 300.0 metres depth, including
-
- 4.0 metres at 16.2 % zinc, 0.2 % lead & 26 g/t silver from
300.0 metres depth; and
- 14.4 metres at 12.8 % zinc, 1.9 % lead, 140 g/t silver &
98 g/t indium from 351.4 metres depth, including
-
- 2.0 metres at 11.8 % zinc, 12.1 % lead, 837 g/t silver &
292 g/t indium from 352.3 metres depth, and
- 1.4 metres at 29.2 % zinc, 0.4 % lead, 58 g/t silver & 24
g/t indium from 357.0 metres depth, and
- 4.6 metres at 16.8 % zinc, 0.1 % lead, 15 g/t silver and 26 g/t
indium from 361.2 metres depth.
Hole A18-111 (Zone 3):
- 1.3 metres at 6.5 % zinc & 0.3 % lead from 278.2 metres
depth
Hole A18-110 (Zone 3):
- 3.8 metres at 3.7 % zinc & 0.3 % lead from 278.2 metres
depth; and
- 3.4 metres at 4.8 % zinc & 48 g/t indium from 322.6 metres
depth; and
- 12.1 metres at 4.9 % zinc & 212 g/t indium from 372.7
metres depth.
Note: true
thicknesses of the zinc intersections are estimated to be at least
85% of the downhole thicknesses.
|
Dr. Graham Carman, Tinka´s
President and CEO, stated: "We are very pleased to have
intersected significant high-grade zinc mineralization in our first
step-out hole at West Ayawilca in 2018. It is still early in
this year's drill program, but we are confident that our planned
15,000 metre drill program will continue to expand on our known
mineralized zones, discover new areas of zinc mineralization, and
add significant new mineral resources to the
project. Approximately 25-30 holes are planned for the first
half of 2018 consisting mostly of step-out holes, with an initial
Preliminary Economic Assessment planned to be completed before
year´s end."
"The new mineralization in A18-114 at West Ayawilca is
located on the eastern limb of an 'anticline' fold axis which
Company geologists believe acted as a trap for the zinc
mineralization – refer to cross section provided. With three drill
rigs operating at the project from the end of April, we expect
plenty of news flow over coming months. Following the recent bought
deal financing and the closing of the current private placement,
the Company will have raised C$16.2
million thanks to strong support from our existing
shareholders, as well as from new shareholders. Tinka is now
fully funded to execute its ambitious exploration programs for the
next 18 months, which are designed to advance and de-risk the
Ayawilca project."
Note: An "Anticline" is a geological
structure whereby the strata are folded into an upside down 'U'. A
"syncline" is the opposite with strata folded in an 'U'
shape.
|
Hole A18-112 at Zone 3 did not intersect significant zinc
mineralization, while hole A18-113 at Zone 3 has results pending.
Drill holes A18-118 (West Ayawilca) and A18-119 (Zone 3) are in
progress. Refer to Figure 1 for locations of new holes, and
Figures 2 and 3 for interpretative cross sections.
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.
True thicknesses of the zinc intersections are estimated to be
at least 85% of the downhole thickness. Significant new drill
intercepts 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 drill intercepts at Ayawilca in
2018
|
Drill
hole
|
From
m
|
To
m
|
Interval
m
|
Zn
%
|
Pb
%
|
Ag
g/t
|
Indium
g/t
|
Copper
%
|
Area
|
Reported
|
A18-110
|
278.20
|
282.00
|
3.80
|
3.7
|
0.3
|
7
|
0
|
|
Zone 3
|
Here
|
and
|
322.60
|
326.00
|
3.40
|
4.8
|
0.0
|
4
|
48
|
|
Zone 3
|
Here
|
and
|
329.90
|
342.00
|
12.10
|
4.9
|
0.0
|
8
|
60
|
|
Zone 3
|
Here
|
and
|
436.00
|
442.00
|
6.00
|
5.6
|
0.0
|
4
|
50
|
|
Zone 3
|
Feb 15'18
|
|
including
|
438.90
|
439.60
|
0.70
|
14.7
|
0.0
|
3
|
137
|
|
Zone 3
|
Feb 15'18
|
and
|
454.00
|
458.00
|
4.00
|
8.4
|
0.0
|
5
|
126
|
|
Zone 3
|
Feb 15'18
|
|
including
|
456.20
|
456.70
|
0.50
|
41.7
|
0.0
|
7
|
366
|
|
Zone 3
|
Feb 15'18
|
and
|
530.40
|
530.75
|
0.35
|
17.1
|
7.5
|
513
|
42
|
1.15
|
Zone 3
|
Feb 15'18
|
A18-111
|
173.80
|
178.80
|
5.00
|
16.0
|
0.3
|
74
|
420
|
|
Zone 3
|
Feb 15'18
|
and
|
372.70
|
374.00
|
1.30
|
6.5
|
0.0
|
6
|
212
|
|
Zone 3
|
Here
|
A18-112
|
no significant
results
|
|
|
|
|
|
|
Zone 3
|
Here
|
A18-114
|
300.00
|
319.30
|
19.30
|
9.2
|
0.2
|
19
|
2
|
|
West
|
Here
|
|
including
|
300.00
|
304.00
|
4.00
|
16.2
|
0.2
|
26
|
2
|
|
West
|
Here
|
and
|
351.40
|
365.80
|
14.40
|
12.8
|
1.9
|
140
|
98
|
|
West
|
Here
|
|
including
|
352.30
|
354.30
|
2.00
|
11.8
|
12.1
|
837
|
292
|
|
West
|
Here
|
|
including
|
357.00
|
358.40
|
1.40
|
29.2
|
0.4
|
58
|
24
|
|
West
|
Here
|
|
including
|
361.20
|
365.80
|
4.60
|
16.8
|
0.1
|
15
|
26
|
|
West
|
Here
|
|
|
|
|
|
|
|
|
|
|
|
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
|
A18-109
|
334040
|
8846140
|
704.2
|
4088
|
130
|
-70
|
A18-110
|
334049
|
8846138
|
566.7
|
4086
|
350
|
-70
|
A18-111
|
333982
|
8846287
|
566.5
|
4107
|
035
|
-75
|
A18-112
|
334430
|
8845945
|
541.1
|
4000
|
250
|
-70
|
A18-113
|
334045
|
8846545
|
726.6
|
4206
|
035
|
-80
|
A18-114
|
332510
|
8845882
|
385.0
|
4293
|
090
|
-70
|
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 has been filed under the Company's
profile on SEDAR at www.sedar.com and is available 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 the ongoing drill program, 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
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SOURCE Tinka Resources Limited