VANCOUVER, May 24, 2018 /CNW/ - Tinka Resources
Limited ("Tinka" or the "Company") (TSXV &
BVL: TK) (OTCPK: TKRFF) is pleased to announce assay
results for six holes from its ongoing resource step-out drill
program at the Company's 100%-owned Ayawilca project, central
Peru. Three holes are reported
from West Ayawilca area (holes A18-115, 116 & 118) and three
from the Zone 3 area (A18-110, 113 & 119).
Drill hole A18-118 intersected 106.5 metres grading 6.8 %
zinc (uncut) from 237.3 metres depth, one of the best intercepts
ever drilled at West Ayawilca, approximately 50 metres north of
the current zinc mineral resource. The footprint of
high-grade zinc mineralization continues to grow. In
addition, high-grade tin intercepts are reported from the
Zone 3 area for the first time. Three rigs continue to
drill step-out holes at West Ayawilca and at Zone 3, with other
targets at South Ayawilca and Valley to be tested in coming
weeks.
Key Highlights
West Ayawilca Area
Hole A18-118:
- 106.5 metres at 6.8 % zinc (uncut), 0.2 % lead, 17 g/t silver
& 48 g/t indium from 237.3 metres including:
-
- 2.9 metres at 24.1 % zinc, 1.7 % lead & 109 g/t silver from
237.3 metres depth, and
- 11.8 metres at 6.4 % zinc & 24 g/t silver from 252.3 metres
depth, and
- 23.9 metres at 9.2 % zinc & 15 g/t silver from 270.0 metres
depth, and
- 31.9 metres at 9.6 % zinc, 19 g/t silver & 138 g/t indium
from 311.9 metres depth, including
-
- 9.8 metres at 17.0 % zinc, 25 g/t silver and 330 g/t indium
from 334.0 metres depth.
Hole A18-116: *
- 1.2 metres at 15.9 % zinc, 25.6 % lead & 559 g/t silver
from 47.7 metres depth, and
- 0.6 metres at 28.5 % zinc, 5.3 % lead & 477 g/t silver from
110.8 metres depth, and
- 1.0 metres at 19.6 % zinc, 6.3 % lead & 527 g/t silver from
141.8 metres depth.
Hole A18-115: *
- 0.4 metres at 21.5 % zinc, 0.3% lead & 182 g/t silver from
125.3 metres depth.
Zone 3 Area
Hole A18-119:
- 6.5 metres at 2.7 % zinc, 2.0 % lead & 77 g/t silver from
376.6 metres depth, and
- 11.2 metres at 5.3 % zinc & 83 g/t indium from 451.5 metres
depth.
Hole A18-113:
- 20.3 metres at 1.26 % tin & 0.30% copper from 658.0 metres
depth, including
-
- 7.9 metres at 2.39 % tin & 0.64 % copper from 664.1 metres
depth.
Hole A18-110:
- 12.0 metres at 0.87 % tin & 0.43% copper from 525.0 metres
depth, including
-
- 1.45 metres at 5.93 % tin & 0.33 % copper from 525.0 metres
depth.
Note:
|
True thicknesses of
the zinc and tin intersections are estimated to be at least 85% of
the downhole thicknesses, except for vein intercepts (marked *)
where true thicknesses are unknown.
|
Dr. Graham Carman, Tinka´s
President and CEO, stated: "Tinka is targeting high-grade zinc
mineralization outside of the existing resource boundaries in the
2018 step-out drill program, and we are very pleased to report
results for hole A18-118, one of the best mineralized holes from
West Ayawilca. Importantly, our geological model has
successfully predicted zinc mineralization is concentrated close to
the hinge of an 'anticline' fold within limestone beneath sandstone
cover, and this mineralization remains open. At West Ayawilca more
holes are planned to target the projections of the fold hinge and
its flat-lying eastern limb. The steep-dipping western fold
limb, tested by A18-115 & 116, appears to host vein-style
mineralization in the overlying sandstone only."
"We continue to target possible connections between the
resource areas at West and Central Ayawilca, and several holes have
results pending. The Zone 3 area is also beginning to show
encouraging zinc intersections (e.g., hole A18-119), and although
the mineralization is relatively deep, we believe Zone 3 has the
potential to add significant new resources to the project.
High-grade tin mineralization in A18-119, more than 2 kilometres
away from West Ayawilca, further indicates the potential and very
large size of the Ayawilca mineralized system."
Figure 1 shows a drill hole location map of the Ayawilca
project. Figures 2 and 3 are interpretive cross sections
through the Ayawilca project highlighting new results.
West Ayawilca Geology – Discussion
Three geological rock units are observed in all areas at
Ayawilca: an upper sandstone, a middle limestone which hosts most
of the sulphide zinc mineralization, and a lower phyllite.
The main geological feature of West Ayawilca is an 'anticline' fold
which has a flat-lying eastern limb and a steep-dipping western
limb. The hinge of this fold and the flat-lying eastern side
of the fold are prospective for zinc and hosts massive sulphide
zinc mineralization at West Ayawilca and South Ayawilca up to ~200
metres in vertical thickness, typically in the form of tabular
sulphide bodies or "mantos", and more irregular shaped
'chimneys'. At these areas, most if not all of the limestone
is completely replaced by massive sulphide mineralization (see
Figures 2 and 3). Magnetite replacement of limestone predates the
sulphide zinc mineralization and typically, as magnetite increases
in the drill cores the quantity of sphalerite decreases.
The ultimate source or 'feeder' of the zinc mineralization
remains uncertain, but Tinka geologists believe the zinc
mineralization was brought into the limestone via steep
northeast-trending faults that transect the Ayawilca property (not
shown in Figure 2 & 3).
Zone 3 Geology – Discussion
The main geological feature at Zone 3 is an overturned
'syncline' which has folded the sequence into a 'V' and resulted in
limestone outcropping at surface on the eastern fold limb (Figure
3). Limestone in hole A18-119 at Zone 3 has been heavily
replaced by magnetite, and to a lesser extent pyrite and
sphalerite. As at West Ayawilca, Tinka geologists believe that the
strongest zinc mineralization is likely to occur around the edges
of the magnetite bodies.
Massive pyrite replacement at the base of the limestone hosts
significant tin mineralization (e.g., A18-113 & A18-110).
The pyrite mineralization postdates and replaces massive pyrrhotite
replacement bodies, which hosts tin mineralization elsewhere at the
base of the limestone especially at Central Ayawilca (see Figure
3). At Zone 3 and elsewhere, the zinc and tin are completely
different styles of mineralization and are physically
separated.
Massive sulphide and magnetite replacement at Zone 3 appears to
be hosted close to the hinge of the overturned syncline near the
Chaucha Fault, with zinc and lead rich mineralization extending
into the overlying sandstone (Figure 3). Tinka geologists believe
that the magnetite-pyrite/pyrrhotite zonation seen in Zone 3 may be
similar to West and Central Ayawilca, with a tin-rich core and
zinc-rich margins, particularly near fault intersections.
![Figure 1. Ayawilca drill hole location map highlighting 2018 drill holes & known zinc resources (CNW Group/Tinka Resources Limited) Figure 1. Ayawilca drill hole location map highlighting 2018 drill holes & known zinc resources (CNW Group/Tinka Resources Limited)](https://mma.prnewswire.com/media/696128/Tinka_Resources_Limited_Tinka_Drills_32_Metres_Grading_9_6___Zin.jpg)
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 Ayawilca: 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).
Notes:
|
|
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
|
![Figure 2. Cross section through West Ayawilca and South Ayawilca (see Fig. 1 for location) Nov’ 2017 mineral resource blocks are colour-coded by NSR value (CNW Group/Tinka Resources Limited) Figure 2. Cross section through West Ayawilca and South Ayawilca (see Fig. 1 for location) Nov’ 2017 mineral resource blocks are colour-coded by NSR value (CNW Group/Tinka Resources Limited)](https://mma.prnewswire.com/media/696129/Tinka_Resources_Limited_Tinka_Drills_32_Metres_Grading_9_6___Zin.jpg)
![Figure 3. Cross section from South Ayawilca to Zone 3 (see Fig. 1 for location) Nov’ 2017 mineral resource blocks are colour-coded by NSR value (CNW Group/Tinka Resources Limited) Figure 3. Cross section from South Ayawilca to Zone 3 (see Fig. 1 for location) Nov’ 2017 mineral resource blocks are colour-coded by NSR value (CNW Group/Tinka Resources Limited)](https://mma.prnewswire.com/media/696130/Tinka_Resources_Limited_Tinka_Drills_32_Metres_Grading_9_6___Zin.jpg)
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 (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
True thicknesses of the zinc intersections are estimated to be
at least 85% of the downhole thickness, except where marked.
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
|
Tin
%
|
Copper
%
|
Area
|
Reported
|
A18-110
|
278.20
|
282.00
|
3.80
|
3.7
|
0.3
|
7
|
0
|
|
|
Zone 3
|
April
25'18
|
and
|
322.60
|
326.00
|
3.40
|
4.8
|
0.0
|
4
|
48
|
|
|
Zone 3
|
April
25'18
|
and
|
329.90
|
342.00
|
12.10
|
4.9
|
0.0
|
8
|
60
|
|
|
Zone 3
|
April
25'18
|
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
|
525.00
|
537.00
|
12.00
|
|
|
66
|
|
0.87
|
0.43
|
Zone 3
|
Here
|
including
|
525.00
|
526.45
|
1.45
|
|
|
25
|
|
5.93
|
0.33
|
Zone 3
|
Here
|
A18-111
|
173.80
|
178.80
|
5.00
|
20.2
|
0.3
|
74
|
420
|
|
|
Zone 3
|
Feb 15'18
|
and
|
372.70
|
374.00
|
1.30
|
6.5
|
0.0
|
6
|
212
|
|
|
Zone 3
|
April
25'18
|
A18-113
|
494.00
|
502.00
|
8.00
|
3.2
|
0.0
|
7
|
39
|
|
|
Zone 3
|
Here
|
and
|
658.00
|
678.30
|
20.30
|
|
|
5
|
|
1.26
|
0.30
|
Zone 3
|
Here
|
including
|
664.10
|
672.00
|
7.90
|
|
|
10
|
|
2.39
|
0.64
|
Zone 3
|
Here
|
A18-114
|
300.00
|
319.30
|
19.30
|
9.2
|
0.2
|
19
|
2
|
|
|
West
|
April
25'18
|
including
|
300.00
|
304.00
|
4.00
|
16.2
|
0.2
|
26
|
2
|
|
|
West
|
April
25'18
|
and
|
351.40
|
365.80
|
14.40
|
12.8
|
1.9
|
140
|
98
|
|
|
West
|
April
25'18
|
including
|
352.30
|
354.30
|
2.00
|
11.8
|
12.1
|
837
|
292
|
|
|
West
|
April
25'18
|
including
|
357.00
|
358.40
|
1.40
|
29.2
|
0.4
|
58
|
24
|
|
|
West
|
April
25'18
|
including
|
361.20
|
365.80
|
4.60
|
16.8
|
0.1
|
15
|
26
|
|
|
West
|
April
25'18
|
A18-115
|
125.30
|
125.70*
|
0.40
|
21.5
|
0.3
|
182
|
51
|
|
|
West
|
Here
|
A18-116
|
47.70
|
48.90*
|
1.20
|
15.9
|
25.6
|
559
|
0
|
|
|
West
|
Here
|
and
|
50.50
|
50.75*
|
0.25
|
11.0
|
15.7
|
679
|
0
|
|
|
West
|
Here
|
and
|
110.80
|
111.40*
|
0.60
|
28.5
|
5.3
|
477
|
0
|
|
|
West
|
Here
|
and
|
141.80
|
142.80*
|
1.00
|
19.6
|
6.3
|
527
|
0
|
|
|
West
|
Here
|
A18-117
|
results
pending
|
West
|
|
A18-118
|
120.00
|
121.10*
|
1.20
|
9.8
|
0.3
|
73
|
3
|
|
|
West
|
Here
|
and
|
183.10
|
184.30*
|
1.20
|
36.9
|
1.0
|
104
|
27
|
|
|
West
|
Here
|
and
|
237.30
|
343.80
|
106.50
|
6.8
|
0.2
|
17
|
48
|
|
|
West
|
Here
|
including
|
237.30
|
240.20
|
2.90
|
24.1
|
1.7
|
109
|
4
|
|
|
West
|
Here
|
including
|
252.30
|
264.10
|
11.80
|
6.4
|
0.2
|
24
|
1
|
|
|
West
|
Here
|
including
|
270.00
|
293.90
|
23.90
|
9.2
|
0.0
|
15
|
14
|
|
|
West
|
Here
|
including
|
311.90
|
343.80
|
31.90
|
9.6
|
0.3
|
19
|
138
|
|
|
West
|
Here
|
including
|
334.00
|
343.80
|
9.80
|
17.0
|
0.1
|
25
|
330
|
|
|
West
|
Here
|
A18-119
|
372.20
|
373.10
|
0.90
|
6.5
|
4.2
|
104
|
8
|
|
|
Zone 3
|
Here
|
and
|
376.60
|
383.10
|
6.50
|
2.7
|
2.0
|
77
|
6
|
|
|
Zone 3
|
Here
|
and
|
410.00
|
440.00
|
30.00
|
3.1
|
0.3
|
24
|
54
|
|
|
Zone 3
|
Here
|
and
|
451.50
|
462.70
|
11.20
|
5.3
|
0.0
|
7
|
83
|
|
|
Zone 3
|
Here
|
*Vein style mineralization where true thickness cannot be
determined.
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
|
A18-115
|
332545
|
8845646
|
493.2
|
4302
|
070
|
-82
|
A18-116
|
332510
|
8845882
|
450.9
|
4298
|
090
|
-80
|
A18-117
|
332510
|
8845882
|
380.4
|
4298
|
060
|
-70
|
A18-118
|
332538
|
8845780
|
363.8
|
4284
|
060
|
-65
|
A18-119
|
334045
|
8846545
|
618.5
|
4206
|
215
|
-80
|
On behalf of the Board,
"Graham Carman"
Dr. Graham Carman, President &
CEO
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).
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
View original content with
multimedia:http://www.prnewswire.com/news-releases/tinka-drills-32-metres-grading-9-6--zinc-within-a-wider-interval-of-107-metres-grading-6-8--zinc-in-ayawilca-step-out-hole-300654111.html
SOURCE Tinka Resources Limited