Tinka Resources Limited (TSX-V:TK) (BVL: TK) (OTCPK: TKRFF) is pleased to announce results for twelve drill holes from the Company’s ongoing resource expansion and confirmation drill program at the 100% owned Ayawilca project, central Peru.
Graham Carman, Tinka’s President and CEO, stated: “The step-out drill hole results reported in this release are very positive, and show that the footprint of zinc mineralization at Ayawilca is getting larger. So far in 2018 we have discovered several new areas of significant zinc mineralization, including:
“Zinc mineralization still remains open along strike and down dip in several directions, while other prospective areas such as Zone 3 continue to offer additional potential.”
“A priority in 2018 has been to identify additional zinc resources with step-out drill holes. In addition, several infill holes have been drilled, to test for repetitions of the mineralized limestone beneath and within areas of known resources where key information was lacking. The infill holes drilled at the South and West areas have improved our geological model and understanding of the controls of the mineralization, while also confirming the continuity of grade and thickness of zinc mineralization.”
“Tinka has so far drilled 19,000 metres in 2018, on top of 46,000 metres drilled at the Ayawilca project from the initial discovery in 2013 to the end of 2017. A resource update is planned for Q4 2018, based on all drill data to the end of September 2018. An additional 1,000-2,000 metres of drilling is planned for the remainder of the year, with one rig operating at site. Importantly, the 2018 drill program is on schedule and on budget.”
“Upon completion of the resource update in Q4 2018, the Company will be in a position to either move ahead with a Preliminary Economic Assessment in 2019, or to focus on further resource expansion. In the meantime, we look forward to updating our shareholders with information on additional drill results and the upcoming resource update.”
Highlights – Infill holes at West Ayawilca
Highlights – Infill holes at South Ayawilca
Highlights – Step-out drill holes
Hole A18-148 (Central Ayawilca):
Hole A18-146 (South Ayawilca):
Hole A18-138 (Camp):
Hole A18-150 (West Ayawilca):
Note: All intercepts shown above are down-hole intercepts. True thicknesses of the zinc intersections are estimated to be at least 85% of the downhole thicknesses.
List of attached figures:
List of attached tables:
|Summary of Ayawilca Inferred Zinc Zone Mineral Resources (Nov’ 8, 2017)|
|South Ayawilca||13.3 million tonnes at 9.5% ZnEq (7.6% zinc, 0.2 % lead, 25 g/t silver & 118 g/t indium)|
|West Ayawilca||9.0 million tonnes at 7.2% ZnEq (6.1% zinc, 0.2 % lead, 14 g/t silver & 64 g/t indium)|
|Central Zone||13.0 million tonnes at 5.7% ZnEq (4.7% zinc, 0.3 % lead, 13 g/t silver & 54 g/t indium)|
|East Ayawilca||7.5 million tonnes at 6.2% ZnEq (5.1% zinc, 0.2 % lead, 13 g/t silver & 69 g/t indium)|
|TOTAL||42.7 million tonnes at 7.3% ZnEq (6.0% zinc, 0.2% lead, 17 g/t silver & 79 g/t indium)|
|1||US$55/t NSR cut off was used. Metal price assumptions were US$1.15/lb Zn, US$300/kg In, US$18/oz Ag, US$1.10/lb Pb. Metal recovery assumptions were 90% Zn, 75% In, 60% Ag, and 75% Pb for the ZnEq calculation.|
|2||The NSR value was calculated using the formula: NSR = Zn(%)*US$15.34+Pb(%)*US$6.15+In(g/t)*US$0.18+Ag(g/t)*US$0.27|
|3||The ZnEq value was calculated using the formula: ZnEq = NSR/US$15.34|
|4||Numbers may not add due to rounding|
Table 1. Recent significant drill intercepts at Ayawilca
|Drill hole||From m||To m||Interval m||Zn %||Pb %||Ag g/t||Indium g/t||Area||Comment|
Note: All intercepts shown in Table 1 are down-hole intercepts. True thicknesses of the zinc intersections are estimated to be at least 85% of the downhole thickness.
Table 2. Summary of Drill Collar Information (coordinates are in UTM WGS84 Zone 18S datum)
|Drill Hole||Easting||Northing||Total depth (m)||Elevation (m)||Azimuth||Dip|
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.
Qualified Person – Mineral Resources:
The Mineral Resources disclosed in this press release have been estimated by Mr. David Ross, P.Geo., an employee of Roscoe Postle Associates Inc. (RPA), and is 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 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.
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 assaying over 200 ppm tin are re-assayed by fusion methods with an AAS finish (method AAS90B).
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