Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “Company“) (TSXV & BVL: TK) (OTCPK: TKRFF) is pleased to announce new assay results for six diamond drill holes from the Company’s 2020-2021 resource expansion and infill drill program at the Ayawilca project in Peru. Four holes are located at the Camp area (A20-180, 181, 182 & 183) and two holes at the South area (A21-185 & 187). The two holes at South Ayawilca intersected high grade zinc-silver mineralization associated with massive sulphide mineralization over substantial widths and are expected to expand the indicated mineral resources at the project. Tinka has drilled approximately 7,600 metres in 21 completed holes during the 2020-2021 program. The Company is compiling the drill data and completing geological interpretations in preparation for an updated mineral resource and Preliminary Economic Assessment (PEA) scheduled for the middle of 2021. Assay results for the final four drill holes are still pending.
- 4.1 metres @ 17.7% zinc & 34 g/t silver from 302.9 metres depth; and
- 40.0 metres @ 8.8% zinc & 12 g/t silver from 324.0 metres depth, including
- 9.1 metres @ 20.1% zinc & 23 g/t silver from 353.3 metres depth.
- *1.7 metres @ 23.4% zinc & 97 g/t silver from 133.3 metres depth; and
- 5.0 metres @ 6.9% zinc & 13 g/t silver from 289.6 metres depth; and
- 23.6 metres @ 9.4% zinc & 10 g/t silver from 304.3 metres depth, including
- 9.6 metres @ 12.5% zinc & 14 g/t silver from 316.4 metres depth.
- *1.3 metres @ 34.6% zinc, 0.9% lead & 190 g/t silver from 89.0 metres depth.
- 5.9 metres @ 11.4% zinc, 1.9% lead & 39 g/t silver from 225.2 metres depth.
- 16.0 metres @ 4.1% zinc & 10 g/t silver from 240.0 metres depth.
- 4.8 metres @ 3.8% zinc, 3.0% lead & 93 g/t silver from 191.5 metres depth; and
- 3.9 metres @ 21.1% zinc & 33 g/t silver from 301.8 metres depth.
- 6.0 metres @ 3.0% zinc, 2.1% lead & 57 g/t silver from 202.0 metres depth.
Mineralization is mostly associated with gently-dipping sulphide “mantos” hosted in limestones. True thicknesses of the mantos are estimated to be at least 90% of the downhole thicknesses. The intervals marked * are vein-style hosted by sandstones and have an unknown true thickness. Refer to map and cross sections in Figures 1 and 2.
President and CEO of Tinka, Dr. Graham Carman, stated: “This is another set of strong drill results from Ayawilca. The results from the two South Ayawilca holes confirm that high grade mineralization within the current indicated mineral resource boundary extends at least a further 80 metres to the northeast. Holes A21-185 and A21-187b were both infill holes, confirming our geological model and understanding of the geometry of the mineralization at South Ayawilca. These holes improve the confidence of our resource base. “
“Our aim for this program has been to extend the indicated mineral resources at West Ayawilca southwards into the Camp area, and South Ayawilca further to the east. In both areas we have successfully discovered new zones of high-grade zinc and silver mineralization which will add value to the project. Eighty percent of the holes in the program have now been reported. In the coming weeks we plan to advance the Ayawilca project with a resource update, carry out metallurgical test work focusing on the silver-lead mineralization and begin work on a new PEA. The Company remains in a strong position and is fully funded to complete this planned work. As the 2020-2021 drill program winds up we look forward to reporting the results of the remaining holes.”