VANCOUVER, Sept. 18, 2018 /CNW/ - Tinka Resources
Limited ("Tinka" or the "Company") (TSXV &
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.
Key Highlights:
- Five resource step-out drill holes at West, South, Central and
Camp areas have all intersected significant zinc mineralization
hosted mostly by Pucara limestone, the main host of the zinc
sulphide mineralization;
- Hole A18-148 intersected high-grade zinc (5.5 metres grading
10% zinc) 100 metres further east of the current resource at
the Central area, with extensions to be tested later in
2018;
- Hole A18-146 intersected high-grade zinc and silver
mineralization (1.7 metres grading 27% zinc & 1520 g/t silver
from 57 metres depth) in an 'Upper Manto' hosted by sandstone
at the South area, above and lateral to the known limestone hosted
resource. The Upper Manto has been observed in other drill holes
and is considered significant due to its shallow depth and
proximity to existing resources;
- Hole A18-150 (9.6 metres grading 6% zinc) and adjacent hole
A18-154 have extended known mineralization at the West area
120 metres to the northeast – mineralization remains
open;
- Seven resource infill holes are also reported from the
West and South areas, drilled to improve the Company's geological
model and to target additional zinc mineralization at depth;
- Tinka now plans to update the Ayawilca resource estimate in
Q4 2018, while step-out drilling continues.
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:
- thick and high-grade intersections up to 150 metres to the
northwest of the West Ayawilca resource (e.g., hole
A18-118);
- the Camp area, which connects West mineralization with the
Central area (e.g., holes A18-130 & 134);
- repetitions of mineralized limestone beneath lenses of
phyllite at West Ayawilca which can host exceptional zinc grades
(e.g., 10.4 metres grading 44% zinc, hole A18-129);
- shallow zinc sulphide mineralization hosted by the overlying
sandstone within a laterally extensive Upper Manto; and
- extensions to the mineralization east of the Central and
West areas (e.g., holes A18-148 & A18-150);
"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
Hole A18-141:
- 89.0 metres at 5.0% zinc, 11 g/t silver & 97 g/t
indium from 288.0 metres depth, including
3.0 metres at 22.4% zinc, 30 g/t silver & 129 g/t
indium from 374.0 metres depth.
Hole A18-143:
- 14.0 metres at 9.1% zinc, 10 g/t silver & 15 g/t
indium from 146.0 metres depth; and
- 5.5 metres at 15.1% zinc, 19 g/t silver & 196 g/t
indium from 298.0 metres depth, including
2.9 metres at 24.8% zinc, 29 g/t silver & 298 g/t
indium from 300.2 metres depth.
Hole A18-145:
- 42.0 metres at 5.2% zinc, 12 g/t silver & 144 g/t
indium from 302.0 metres depth.
Hole A18-137:
- 12.7 metres at 10.3% zinc, 18 g/t silver & 306
g/t indium from 279.3 metres depth, including
3.2 metres at 25.7% zinc, 35 g/t silver & 638 g/t
indium from 286.9 metres depth.
Hole A18-140:
- 9.0 metres at 8.8% zinc, 10 g/t silver & 78 g/t
indium from 283.6 metres depth;
Highlights – Infill holes at South Ayawilca
Hole A18-139:
- 20.5 metres at 5.6% zinc, 5 g/t silver & 63 g/t
indium from 248.0 metres depth, including
2.4 metres at 18.1% zinc, 17 g/t silver & 162 g/t
indium from 258.6 metres depth; and
- 2.9 metres at 15.7% zinc, 0.5% lead & 29 g/t
silver from 313.1 metres depth.
Hole A18-142:
- 19.1 metres at 8.5% zinc, 16 g/t silver & 105 g/t
indium from 232.7 metres depth, including
2.1 metres at 38.4% zinc, 31 g/t silver & 525 g/t
indium from 243.6 metres depth.
Highlights – Step-out drill holes
Hole A18-148 (Central Ayawilca):
- 5.5 metres at 9.8% zinc, 8 g/t silver & 42 g/t
indium from 378.6 metres depth in limestone.
Hole A18-146 (South Ayawilca):
- 1.7 metres at 26.9% zinc, 0.9% lead & 1,526 g/t
silver from 57.0 metres depth in the Upper Manto.
Hole A18-138 (Camp):
- 1.5 metres at 19.3% zinc, 100 g/t silver & 138 g/t
indium from 146.2 metres depth in limestone.
Hole A18-150 (West Ayawilca):
- 9.6 metres at 6.3% zinc, 5 g/t silver & 77 g/t
indium from 337.9 metres depth in limestone.
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:
- Figure 1 is a drill hole location map highlighting holes with
recent results in RED.
- Figure 2 is a long section of South Ayawilca A-A' viewing to
the north.
- Figure 3 is a long section of West Ayawilca B-B' viewing to the
northwest.
- Figure 4 is a cross section of West and South Ayawilca C-C'
viewing to the northeast.
List of attached tables:
- Table 1 shows new significant drill intercepts with the
strongest intercepts in bold text.
- Table 2 summarizes the drill collar information for the recent
holes.
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)
|
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
|
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
|
A18-137
|
178.00
|
182.10
|
4.10
|
2.3
|
2.8
|
102
|
0
|
West
|
Infill
|
and
|
250.00
|
253.30
|
3.30
|
9.4
|
1.9
|
58
|
2
|
West
|
|
and
|
279.30
|
292.00
|
12.70
|
10.3
|
0.0
|
18
|
306
|
West
|
|
|
including
|
286.90
|
290.10
|
3.20
|
25.7
|
0.0
|
35
|
638
|
West
|
|
A18-138
|
104.70
|
105.10
|
0.40
|
26.7
|
0.3
|
75
|
533
|
Camp
|
Step-out
|
and
|
146.20
|
147.70
|
1.50
|
19.3
|
0.0
|
100
|
138
|
Camp
|
|
and
|
253.70
|
256.10
|
2.40
|
9.4
|
0.9
|
41
|
0
|
Camp
|
|
and
|
283.60
|
285.40
|
1.80
|
3.5
|
4.3
|
123
|
0
|
Camp
|
|
A18-139
|
248.00
|
268.50
|
20.50
|
5.6
|
0.0
|
5
|
63
|
South
|
Infill
|
|
including
|
258.60
|
261.00
|
2.40
|
18.1
|
0.1
|
17
|
162
|
South
|
|
and
|
311.90
|
317.90
|
6.00
|
9.7
|
0.3
|
21
|
8
|
South
|
|
|
including
|
313.10
|
316.00
|
2.90
|
15.7
|
0.5
|
29
|
11
|
South
|
|
A18-140
|
174.70
|
178.20
|
3.50
|
3.4
|
4.6
|
120
|
0
|
West
|
Infill
|
and
|
283.60
|
292.60
|
9.00
|
8.8
|
0.1
|
10
|
78
|
West
|
|
A18-141
|
238.00
|
250.40
|
12.40
|
3.9
|
0.0
|
8
|
3
|
West
|
Infill
|
and
|
288.00
|
377.00
|
89.00
|
5.0
|
0.0
|
11
|
97
|
West
|
|
|
including
|
374.00
|
377.00
|
3.00
|
22.4
|
0.0
|
30
|
129
|
West
|
|
A18-142
|
232.70
|
251.80
|
19.10
|
8.5
|
0.1
|
16
|
105
|
South
|
Infill
|
|
including
|
243.60
|
245.70
|
2.10
|
38.4
|
0.1
|
31
|
525
|
South
|
|
A18-143
|
146.00
|
160.00
|
14.00
|
9.1
|
0.0
|
10
|
15
|
West
|
|
|
including
|
155.20
|
157.80
|
2.60
|
18.7
|
0.1
|
23
|
20
|
West
|
Infill
|
and
|
262.30
|
269.60
|
7.30
|
6.7
|
0.0
|
16
|
12
|
West
|
|
and
|
298.00
|
303.50
|
5.50
|
15.1
|
0.0
|
19
|
196
|
West
|
|
|
including
|
300.20
|
303.10
|
2.90
|
24.8
|
0.0
|
29
|
298
|
West
|
|
A18-144
|
results
awaited
|
|
|
|
|
|
Vetas
|
|
A18-145
|
212.40
|
221.10
|
8.70
|
5.8
|
0.0
|
16
|
0
|
West
|
Infill
|
and
|
283.40
|
290.20
|
6.80
|
5.0
|
0.0
|
8
|
43
|
West
|
|
and
|
302.00
|
344.00
|
42.00
|
5.2
|
0.0
|
12
|
144
|
West
|
|
|
including
|
338.00
|
340.90
|
2.90
|
11.6
|
0.0
|
24
|
364
|
West
|
|
A18-146
|
57.00
|
58.70
|
1.70
|
26.9
|
0.9
|
1536
|
16
|
South
|
Step-out
|
A18-147
|
results
awaited
|
|
|
|
|
|
Vetas
|
|
A18-148
|
378.60
|
384.10
|
5.50
|
9.8
|
0.0
|
8
|
42
|
Central
|
Step-out
|
and
|
395.50
|
409.60
|
14.10
|
4.0
|
0.0
|
8
|
58
|
Central
|
|
and
|
434.40
|
442.50
|
8.10
|
3.0
|
0.1
|
36
|
24
|
Central
|
|
A18-149
|
results
awaited
|
|
|
|
|
|
Vetas
|
|
A18-150
|
337.90
|
347.50
|
9.60
|
6.3
|
0.0
|
5
|
77
|
West
|
Step-out
|
A18-151
|
results
awaited
|
|
|
|
|
|
South
|
|
A18-152
|
results
awaited
|
|
|
|
|
|
South
|
|
A18-153
|
results
awaited
|
|
|
|
|
|
South
|
|
A18-154
|
368.80
|
372.40
|
3.60
|
5.3
|
0.0
|
6
|
46
|
West
|
Step-out
|
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
|
A18-137
|
332808
|
8845769
|
443.9
|
4233
|
200
|
-80
|
A18-138
|
332984
|
8845394
|
446.6
|
4241
|
000
|
-90
|
A18-139
|
333114
|
8845103
|
387.5
|
4205
|
150
|
-85
|
A18-140
|
332720
|
8845725
|
376.5
|
4246
|
020
|
-82
|
A18-141
|
332689
|
8845605
|
468.0
|
4267
|
020
|
-78
|
A18-142
|
333006
|
8845202
|
325.9
|
4213
|
125
|
-85
|
A18-143
|
332769
|
8845563
|
379.5
|
4254
|
020
|
-85
|
A18-144
|
332548
|
8845705
|
365.1
|
4294
|
060
|
-72
|
A18-145
|
332720
|
8845725
|
396.1
|
4246
|
320
|
-87
|
A18-146
|
332795
|
8845121
|
371.9
|
4183
|
000
|
-90
|
A18-147
|
332442
|
8845956
|
225.5
|
4336
|
190
|
-60
|
A18-148
|
333768
|
8845426
|
474.8
|
4150
|
000
|
-90
|
A18-149
|
332533
|
8845783
|
357.7
|
4284
|
335
|
-45
|
A18-150
|
332937
|
8846026
|
396.3
|
4251
|
000
|
-90
|
A18-151
|
332751
|
8845055
|
134.4
|
4145
|
090
|
-65
|
A18-152
|
333005
|
8844940
|
508.9
|
4152
|
000
|
-90
|
A18-153
|
332881
|
8845300
|
93.3
|
4216
|
060
|
-60
|
A18-154
|
332940
|
8846022
|
427.2
|
4251
|
090
|
-75
|
On behalf of the Board,
"Graham Carman"
Dr. Graham Carman, President & CEO
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 (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.
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).
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