VANCOUVER, Aug. 1, 2018 /CNW/ - Tinka Resources
Limited ("Tinka" or the "Company") (TSXV &
BVL: TK) (OTCPK: TKRFF) is pleased to announce assay
results for eight step-out drill holes from the West, Central, Camp
and East Ayawilca areas in the Company's ongoing resource drill
program at the Ayawilca project, Peru. In addition, one infill hole at South
Ayawilca is reported.
Key highlights include:
- Two high-grade zinc intersections at the newly named Camp
area (holes A18-130 & 134) in the 'gap' between West and
Central Ayawilca include 5.7 metres grading 14.9% zinc. This
intercept occurs within a repeated limestone unit underneath
phyllite;
- At West Ayawilca, two follow-up holes to hole A18-129 (10.4
metres at 44.0% zinc, see press release dated June 26, 2018) have also
intersected high-grade zinc mineralization beneath the known
zinc resource. Zinc-rich veins hosted by phyllite in hole A18-132
(including *6.9 metres grading 20% zinc) are believed to be feeder
structures which have tapped the source for the zinc
mineralization and provide further potential for additional
mineralization at depth;
- A positive infill hole at South Ayawilca (A18-133)
confirms high-grade zinc replacement mineralization hosted
by limestone and sandstone. This hole has improved the geological
model in that area.
Drill Highlights
West Ayawilca
Hole A18-132:
- 6.8 metres at 12.5% zinc, 28 g/t silver & 57 g/t
indium from 120.0 metres depth; and
- 10.5 metres at 14.0% zinc, 15 g/t silver & 207 g/t
indium from 259.6 metres depth; and
- *6.9 metres at 20.0% zinc, 0.4% lead, 60 g/t silver &
477 g/t indium from 320.0 metres depth.
Hole A18-135:
- 12.1 metres at 7.1% zinc, 6 g/t silver & 88 g/t
indium from 274.9 metres depth, including
1.8 metres at 15.6% zinc, 14 g/t silver & 367 g/t indium from
285.2 metres depth; and
- *0.6 metres at 24.8% zinc, 131 g/t silver & 153 g/t indium
from 422.3 metres depth.
Camp
Hole A18-130:
- 34.0 metres at 6.1% zinc, 4 g/t silver & 129 g/t indium
from 294.0 metres depth, including
7.7 metres at 10.3% zinc, 4 g/t silver & 215 g/t indium
from 300.3 metres depth;
Hole A18-134:
- 2.0 metres at 10.1% zinc, 4 g/t silver & 47 g/t indium from
242.0 metres depth; and
- 5.7 metres at 14.9% zinc, 13 g/t silver & 206 g/t
indium from 346.4 metres depth.
South Ayawilca
Hole A18-133 (infill hole):
- 7.2 metres at 22.7% zinc, 28 g/t silver & 612 g/t
indium from 140.0 metres depth; and
- 27.0 metres at 6.0% zinc, 0.2% lead, 11 g/t silver & 47 g/t
indium from 187.0 metres depth; and
- 38.5 metres at 5.6% zinc, 0.1% lead, 12 g/t silver & 138
g/t indium from 248.8 metres depth.
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, except
for vein intercepts (marked). For vein intercepts marked *
true thicknesses are undetermined.
Dr. Graham Carman, Tinka´s
President and CEO, stated: "Tinka continues to expand the
footprint of the zinc mineralization at Ayawilca with its 2018
step-out drill program. The new high-grade zinc intersections in
the Camp area, where we carried out very limited drilling in the
past, should allow us to connect the plus 200 metre gap between
mineral resources at West and Central Ayawilca (refer to Figure 2).
Of particular interest is that high grade zinc mineralization in
this area was encountered within a repeated limestone under a
phyllite 'ledge', a setting similar to that found in hole A18-129
which intersected exceptional +40% zinc grades. The repeated and
mineralized limestone occurs in multiple locations at the project
including at the Camp and West Ayawilca (refer to Figure
3). It is possible this deeper mineralization is more
widespread than is currently recognized, as holes at the project in
the past were typically stopped almost immediately on hitting
phyllite."
"The main focus for our exploration in coming weeks is to
test the repetition for mineralized limestones at West and Central
Ayawilca and to test for extensions to the mineralization along
strike at South and Central Ayawilca. In appears that
number of previous holes at West and Central Ayawilca were not
drilled sufficiently deep enough to test for these possible
repetitions. Tinka is studying which are the priority holes
to deepen for later in the 2018 drill program."
"At West Ayawilca, high-grade zinc intercepts beneath the
existing resource in holes A18-132 and 135 are interpreted as
feeder veins for the high-grade replacement style mineralization
intersected recently in hole A18-129 (refer to Figure 4). Results
for several additional follow-up holes are pending."
"Several infill holes are underway to further improve the
geological model of the deposit and to target mineralization
underneath the existing resources. The first infill hole
drilled at South Ayawilca (A18-133) was positive, intersecting
high-grade mineralization starting at a relatively shallow depth of
140 metres within the sandstones."
"Three drill rigs continue to operate at the project
24/7 (currently drilling holes A18-143, 144 & 145). So far
in 2018 approximately 15,000 metres have been drilled, with a
minimum of 5,000 additional metres planned for this year."
Figure 1 is a geological map of the project with inset of recent
drill area.
Figure 2 is a drill hole location map showing the recent holes at
West, South, Camp and Vetas areas.
Figure 3 is a schematic cross section through West and South
Ayawilca.
Figure 4 is a schematic cross section through West Ayawilca
highlighting 2018 drill 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
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
|
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. Recent significant drill intercepts at
Ayawilca
|
|
|
|
|
|
|
|
|
|
Drill
hole
|
From
m
|
To
m
|
Interval
m
|
Zn
%
|
Pb
%
|
Ag
g/t
|
Indium
g/t
|
Area
|
Comment
|
A18-123
|
238.50
|
239.50
|
1.00
|
5.6
|
7.8
|
152
|
0
|
East
|
Step-out
|
and
|
451.30
|
452.20
|
0.90
|
5.3
|
0.0
|
4
|
64
|
|
|
A18-124
|
212.00
|
214.00
|
2.00
|
3.0
|
4.0
|
118
|
4
|
Central
|
Step-out
|
and
|
266.00
|
268.00
|
2.00
|
4.3
|
0.0
|
6
|
4
|
|
|
A18-125
|
results
awaited
|
|
|
|
|
|
Zone 3
|
Step-out
|
A18-128
|
330.60
|
332.40
|
1.80
|
3.9
|
0.2
|
7
|
17
|
Central
|
Step-out
|
A18-130
|
232.40
|
238.30
|
5.90
|
5.3
|
0.1
|
19
|
55
|
Camp
|
Step-out
|
and
|
275.60
|
277.50
|
1.90
|
10.8
|
0.0
|
8
|
203
|
|
|
and
|
294.00
|
328.00
|
34.00
|
6.1
|
0.0
|
4
|
129
|
|
|
including
|
300.30
|
308.00
|
7.70
|
10.3
|
0.0
|
4
|
215
|
|
|
A18-131
|
results
awaited
|
|
|
|
|
|
Vetas
|
New target
|
A18-132
|
120.00
|
126.80
|
6.80
|
12.5
|
0.0
|
28
|
57
|
West
|
Step-out
|
and
|
259.60
|
270.10
|
10.50
|
14.0
|
0.0
|
15
|
207
|
|
|
and
|
320.00
|
326.90
|
*6.90
|
20.0
|
0.4
|
60
|
477
|
|
|
and
|
331.80
|
332.20
|
*0.40
|
11.8
|
0.6
|
30
|
291
|
|
|
A18-133
|
140.00
|
147.20
|
7.20
|
22.7
|
0.0
|
28
|
612
|
South
|
Infill
|
and
|
187.00
|
214.00
|
27.00
|
6.0
|
0.2
|
11
|
47
|
|
|
including
|
202.00
|
203.20
|
1.20
|
21.0
|
4.3
|
96
|
415
|
|
|
and
|
248.80
|
287.30
|
38.50
|
5.6
|
0.1
|
12
|
138
|
|
|
including
|
248.80
|
250.70
|
1.90
|
22.9
|
0.1
|
35
|
1100
|
|
|
including
|
256.40
|
257.80
|
1.40
|
24.1
|
0.0
|
21
|
571
|
|
|
and
|
506.20
|
506.50
|
0.30
|
27.9
|
0.6
|
405
|
314
|
|
|
A18-134
|
242.00
|
244.00
|
2.00
|
10.1
|
0.0
|
4
|
47
|
Camp
|
Step-out
|
and
|
346.40
|
352.10
|
5.70
|
14.9
|
0.0
|
13
|
206
|
|
|
A18-135
|
250.40
|
250.90
|
0.50
|
13.0
|
0.1
|
4
|
4
|
West
|
Step-out
|
and
|
274.90
|
287.00
|
12.10
|
7.1
|
0.0
|
6
|
88
|
|
|
including
|
285.20
|
287.00
|
1.80
|
15.6
|
0.0
|
14
|
367
|
|
|
and
|
422.30
|
422.90
|
*0.60
|
24.8
|
0.1
|
131
|
273
|
|
|
A18-136
|
316.00
|
320.00
|
4.00
|
5.8
|
0.0
|
3
|
153
|
Camp
|
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, except where marked. For vein intercepts
marked * true thicknesses are undetermined.
|
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
|
A18-123
|
333720
|
8846291
|
499.6
|
4170
|
035
|
-75
|
A18-124
|
333105
|
8845865
|
380.3
|
4202
|
190
|
-60
|
A18-128
|
333127
|
8845869
|
348.7
|
4198
|
000
|
-85
|
A18-130
|
332930
|
8845517
|
378.7
|
4226
|
220
|
-85
|
A18-132
|
332710
|
8845881
|
442.4
|
4258
|
200
|
-80
|
A18-133
|
333046
|
8845065
|
654.8
|
4195
|
000
|
-90
|
A18-134
|
332964
|
8845459
|
435.4
|
4231
|
000
|
-90
|
A18-135
|
332763
|
8845919
|
432.5
|
4250
|
200
|
-80
|
A18-136
|
332879
|
8845525
|
419.7
|
4235
|
000
|
-90
|
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.
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).
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-7-2-metres-grading-22-7-zinc-and-5-7-metres-grading-14-9-zinc-at-ayawilca-300689926.html
SOURCE Tinka Resources Limited