Market Overview

Tinka Drills 26 Metres Grading 10% Zinc at Ayawilca and Receives Approval of Drill Permit for 2020-2021 Work Programs

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VANCOUVER, Nov. 25, 2019 /CNW/ - Tinka Resources Limited ("Tinka" or the "Company") (TSXV & BVL: TK) (OTCPK: TKRFF) is pleased to announce assay results for the final hole of the 2019 drill program at the Company's 100%-owned Ayawilca project in the Pasco region of Peru.  Drill hole A19-168, an infill hole at South Ayawilca, intersected several zones of high grade zinc mineralization including 26.1 metres grading 10.1% zinc, and 3.6 metres grading 42.4% zinc within a wider interval of 51.4 metres grading 8.0% zinc. 

The Company is also pleased to announce that it has received final approval of its modified semi-detailed Environmental Impact Assessment ('EIAsd' or 'the Permit') for the Ayawilca project from the Peruvian Ministry of Energy and Mines.  The approved EIAsd modification allows Tinka to drill from a large number of drill platforms (up to 240 platforms) within the existing permitted work area at Ayawilca consisting of approximately 300 hectares, within the next 2-3 years.  This Permit enables Tinka to carry out all of the drilling activities needed to advance the project through the next phase of exploration and development. 

Key highlights of drill hole A19-168:

  • 1.0 metres @ 46.5% zinc, 85 g/t silver, 0.1% lead & 1010 g/t indium from 125.05 metres; and
  • 26.1 metres @ 10.1% zinc, 13 g/t silver & 268 g/t indium from 162.6 metres, including
    • 5.7 metres @ 15.5% zinc, 22 g/t silver, 0.1% lead & 424 g/t indium from 166.1 metres; and
    • 9.1 metres @ 12.5% zinc, 14 g/t silver & 392 g/t indium from 179.6 metres; and
  • 6.4 metres @ 7.8 % zinc, 37 g/t silver, 0.9% lead & 218 g/t indium from 199.6 metres; and
  • 51.4 metres @ 8.0% zinc, 21 g/t silver, 0.3% lead & 208 g/t indium from 251.3 metres, including
    • 1.8 metres @ 27.2% zinc, 42 g/t silver, 0.1% lead & 1165 g/t indium from 251.3 metres; and
    • 3.6 metres @ 42.4% zinc, 85 g/t silver, 0.4% lead & 1172 g/t indium from 297.4 metres.

Note: True thicknesses of the intersections above are estimated at least 85% of the downhole thicknesses.

Dr. Graham Carman, Tinka's President and CEO, stated: "Hole A19-168 was drilled as an infill hole to confirm continuity and grade of zinc mineralization at South Ayawilca and for hydrological studies.  We are very pleased with the mineralization encountered in the hole, which confirms high grade zinc in several sub-parallel, shallow-dipping 'mantos' associated with massive to semi-massive sulphides hosted by Pucara limestone.  The very high grade zinc zone near the base of the mineralized interval (3.6 metres grading 42.4% zinc) is typical of some of the almost-pure zinc sulphide intervals we have intersected in several holes at both South and West Ayawilca, while the intercept of 26.1 metres grading 10.1% zinc shallower in the hole is also a very strong intercept (see Figures 1 & 2)."  

"In addition, we are pleased to announce the approval from the Ministry of Energy and Mines of our modified EIAsd permit. This Permit will allow the Company to carry out infill and step-out drilling at the project for the next 2 to 3 years.  Additional infill drilling will be required to upgrade the Ayawilca resource to the Measured and Indicated classification for a pre-feasibility study.  The receipt of this Permit is a major milestone for the project. The Permit was received within 10 months of submission, an outstanding achievement by our Peru team and our permitting consultant."

"The Company has now completed its 2019 drill program consisting of 4,325 metres drilled, and will recommence early in 2020. With drilling completed, Tinka's geologists are now undertaking a review of other significant mineral occurrences at the Ayawilca project. A district-wide exploration program has commenced, with a field team currently completing mapping and soil sampling of several exploration targets located within 1-5 kilometres of the Ayawilca zinc resource.  The Ayawilca property already hosts a large zinc-silver-lead resource, a silver oxide resource and a tin resource, and those resources lie within an area less than 5% of the total 170 km2 of the combined and contiguous Tinka mining concessions.  Tinka's team is excited to assess the potential for additional mineral resources on the large, prospective property.  Results of the district exploration program will be released once the work has been completed, assays received and data interpreted."

Figure 1.  Cross section A-A' showing assay results for holes A19-168 and resource blocks by grade (CNW Group/Tinka Resources Limited)

Figure 2.  Drill core photograph from the high-grade lower interval in A19-168 (CNW Group/Tinka Resources Limited)

Figure 3.  Map of Ayawilca showing all 2019 drill holes and the zinc mineral resource (CNW Group/Tinka Resources Limited)

Figure 4.  Regional Geology Map highlighting some of the zinc targets within the Ayawilca Property (CNW Group/Tinka Resources Limited)

Table 1 – Highlights of recent drill hole results from Ayawilca

Hole

From (m)

To (m)

Interval (m)

Zn %

Pb %

Ag ppm

In ppm

A19-168

125.05

126.10

1.05

46.5

0.1

85

1010

and

162.60

188.70

26.10

10.1

0.0

13

268

incl

166.10

171.80

5.70

15.5

0.1

22

424

incl

179.60

188.70

9.10

12.5

0.0

14

392

and

199.60

206.00

6.40

7.8

0.9

37

218

incl

202.30

203.80

1.50

19.8

0.0

26

717

and

251.30

302.70

51.40

8.0

0.3

21

208

incl

251.30

253.10

1.80

27.2

0.1

42

1165

incl

297.40

301.00

3.60

42.4

0.4

85

1172

Note: True thicknesses of the zinc intersections in hole A19-168 are estimated to be at least 85% of the downhole thicknesses

 

Table 2 – 2019 Drill Collar Information (coordinates are in UTM Zone 18S WGS84 datum)  

Hole ID

Easting

Northing

Elevation

Azimuth

Dip

Final Depth m

A19-168

333047

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