Tinka Resources Limited (“Tinka” or the “Company”) (TSXV & BVL: TK) (OTCPK: TKRFF) is pleased to announce assay results for four new drill holes at the Company’s 100%-owned Ayawilca Property in central Peru. Three holes were drilled at West Ayawilca and one hole was drilled at South Ayawilca.
Hole A19-162 at South Ayawilca intercepted thick zones of zinc mineralization within the existing resource, as expected, however the zinc grades are much higher than expected compared with adjacent holes and are approximately double the average grade of the Ayawilca Zinc Zone resource. Hole A19-162 also intercepted a weakly mineralized limestone layer in the lower portion of the hole, significant in the fact that it supports the Company’s thesis of possible limestone-hosted zinc mineralization lying beneath the existing resource.
Hole A19-162 (South Ayawilca):
- 25.4 metres grading 11.6% zinc, 14 g/t silver and 223 g/t indium from 162.6 metres, including
- 10.0 metres grading 17.2% zinc, 14 g/t silver and 363 g/t indium from 176.0 metres; and
- 19.6 metres grading 15.2% zinc, 9 g/t silver and 212 g/t indium from 247.4 metres, including
- 7.2 metres grading 21.8% zinc, 12 g/t silver and 354 g/t indium from 259.8 metres;
Hole A19-159 (West Ayawilca):
- 11.2 metres grading 11.8% zinc and 24 g/t silver from 243.1 metres depth (resource infill);
Hole A19-162 continued to a depth of 545 metres to test for mineralization underneath the zinc resource. The deeper portion of A19-162 intersected a layer of limestone containing massive pyrite (with anomalous zinc), a feature often seen near the edge of the Zinc Zone resource at Ayawilca. A follow-up hole from the same drill platform, A19-163, is in progress (see cross section – Figure 1). Hole A19-163 intersected several zones of zinc mineralization in the upper portion of the hole (assays awaited), and mineralization is believed to remain open up-dip within an area not previously drilled. The next few drill holes will continue to test the potential extension of South Ayawilca to the west, and the limestone at depth.
Dr. Graham Carman, Tinka’s President and CEO, stated: “The recently announced Preliminary Economic Assessment (PEA) results for Ayawilca indicated a large zinc project with robust economics, a modest capex and a long mine life. However, the publishing of the PEA should not be construed that the exploration potential of Ayawilca has been exhausted. The Company continues to believe that potential remains for the discovery of additional high grade zinc resources at Ayawilca, and better than expected assay results from hole A19-162 reported here, confirm this belief. The addition of high grade resources, especially at West and South Ayawilca, would clearly enhance the economics of the project as the PEA definitively shows that the project economics is particularly sensitive to zinc grade.”
“The high-grade results in drill hole A19-162 highlight the potential of the South Ayawilca area, in particular, to deliver additional positive exploration results. Mineralization remains open to the west, and at depth, where a deeper limestone layer intersected in hole A19-162 will be tested further by hole A19-163 (in progress). More drill holes are planned, and we look forward to publishing the results in the coming weeks as the assay results come to hand and are interpreted into our geological model.”
Source: Company Press Release
