Tinka commences 10,000 metre drill program at Ayawilca zinc project, announces new IP results & targets
Published : July 28, 2015
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Keywords :   Copper | Diamond | Equity Markets | Indium | Lead | Market | Peru | Silver | Tin | Zinc |

Tinka commences 10,000 metre drill program at Ayawilca zinc project, announces new IP results & targets

Large IP anomaly modelled immediately below surface zinc anomalies

VANCOUVER, July 28, 2015 /CNW/ - Tinka Resources Limited ("Tinka" or the "Company") (TSXV: TK) (OTCPK: TKRFF) is pleased to announce that the Company has mobilized two drill rigs to commence up to 10,000 metres of Diamond drilling at the Company's 100%-owned Ayawilca zinc project, Peru. The key objective of the drill program is to expand the existing Inferred Mineral Resource of 13.3 million tonnes grading 7.7% zinc equivalent (see PR February 26, 2015).  In addition, the results of a new Induced Polarization (IP) geophysical survey highlight a number of exciting new zinc targets.

Highlights include:

  • Up to 10,000 metre fully funded drill program to commence immediately:
    • Two rig drill program;
    • Objective to expand existing NI 43-101 Zinc Mineral Resource areas;

 

  • Significant new IP survey anomalies defined:
    • Previously unmapped and untested; and
    • Directly coincident to surface zinc soil anomalies and gossans.

 

Dr. Graham Carman, Tinka's President and CEO, stated: "We are excited to recommence drilling at Ayawilca following our successful drill campaign of 2014, which resulted in our Inferred Mineral Resource of 13.3 million tonnes grading 7.7% Zinc equivalent containing 1.7 billion pounds zinc, 909 tonnes indium, 5.8 million ounces silver, and 55 million pounds lead.  Our key objective for this year is to substantially increase our zinc-rich Inferred Mineral Resource. Known sulphide bodies at Ayawilca occur as carbonate replacement deposits or "mantos" which are constrained in size and shape only by lack of drilling.  The expanded IP has provided us with additional drill targets which could significantly increase the mineralization footprint.  I look forward to updating the market on the drill results."

2015 Ayawilca Drill Program
The 2015 program will focus on drill testing extensions of the Inferred Mineral Resource at East, Central and West Ayawilca as well as testing some new targets (Figure 1 and Figure 2). Up to 24 step-out holes are planned commencing with two rigs drilling concurrently.  The program is expected to take around 4 months to complete, with results to be released once assays become available and interpreted.

The drill program will commence at East Ayawilca where zinc mineralization is open in all directions.  East Ayawilca has zinc intercepts which were not included in the resource calculation due to the sparsity of past drilling (including 19.6 metres at 5.7% zinc and 81 g/t indium from 164 metres depth: hole A14-21).  Drill holes are also planned at West and Central Ayawilca where zinc mineralization is open in two directions along strike and where tin-copper mineralization was discovered at depth (Figure 3).

IP Geophysical Survey Results
An IP geophysical survey was recently completed covering 9 km2 of prospective ground at Ayawilca / Colquipucro, with the data modelled from surface to a maximum depth of 500 metres below surface*.  Results show a number of strong, coherent chargeability anomalies in the depth range of 150 to 450+ metres, interpreted as zones of disseminated sulphides believed to be highly prospective for zinc.  Many of these IP anomalies occur beyond the extents of the Inferred Mineral ZnEq Resource.  The most significant IP chargeability anomaly, covering approximately 1 km2 at Chaucha, is open to the north.  The anomaly is adjacent to the current silver oxide resource at Colquipucro (Mineral Resource of 14.3 Moz @ 60 g/t Ag Indicated and 13.3 Moz @ 48 g/t Ag Inferred), is coincident with a zinc-in-soil anomaly, and has no previous drilling (Figure 1).  The Chaucha IP anomaly will be drill tested once permits in that area are renewed.

*A conventional pole-dipole IP survey was carried out on eleven 300 metre-spaced lines each orientated 060 degrees azimuth, using electrode spacing of 120 metres. The data was modelled with a high degree of confidence from surface to maximum depths of between 400 and 500 metres.  

Other News
Mariana Resources Limited has terminated the option agreement on the Company's 100%-owned Rurimarac Properties with no drilling completed. 

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 projects in Peru. Tinka's focus is on its 100%-owned Ayawilca and Colquipucro projects in the highly mineralized zinc-lead-silver belt of central Peru, 200 kilometres north of Lima. The Ayawilca project (Inferred Mineral Resource of 13.3 Mt @ 7.7% Zn equiv., Feb 2015) has the potential to be a major zinc sulphide discovery located 40 kilometres from Peru's largest historic zinc mine, Cerro de Pasco. The adjacent Colquipucro silver oxide project (Indicated Mineral Resource of 7.4 Mt @ 60g/t Ag for 14.3 Moz Ag and Inferred Mineral Resource of 8.5 Mt @ 48 g/t Ag for 13.2 Moz Ag, Feb 2015) is a near-surface, sandstone-hosted, silver oxide deposit.

On behalf of the Board,

"Graham Carman"
Dr. Graham Carman, President & CEO

Forward Looking Statements. 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, the proposed drill program, the Company's expectations regarding mineral resources, capital and other costs varying significantly from estimates, production rates varying from estimates, changes in world metal markets, changes in equity markets, 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 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.

SOURCE Tinka Resources Limited

PDF available at: http://stream1.newswire.ca/media/2015/07/28/20150728_C5491_PDF_EN_460428.pdf

PDF available at: http://stream1.newswire.ca/media/2015/07/28/20150728_C5491_PDF_EN_460430.pdf

PDF available at: http://stream1.newswire.ca/media/2015/07/28/20150728_C5491_PDF_EN_460432.pdf

For further information: Investor Information: www.tinkaresources.com, 1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7, Mariana Bermudez, 1.604.699.0202, info@tinkaresources.com
Data and Statistics for these countries : Peru | All
Gold and Silver Prices for these countries : Peru | All

Tinka Resources Ltd

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CODE : TK.V
ISIN : CA8875221001
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Tinka Resources is a silver and zinc exploration company based in Canada.

Tinka Resources holds various exploration projects in Peru.

Its main exploration properties are COLQUIPUCRO and TIBILLOS in Peru.

Tinka Resources is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 28.9 millions as of today (US$ 23.1 millions, € 20.3 millions).

Its stock quote reached its lowest recent point on January 09, 2009 at CA$ 0.03, and its highest recent level on March 22, 2013 at CA$ 1.25.

Tinka Resources has 206 720 000 shares outstanding.

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Annual reports of Tinka Resources Ltd
Annual Report 2008
Financings of Tinka Resources Ltd
11/8/2013Provides Update on Private Placement Financing
10/8/2013Announces First Tranche Non-Brokered Private Placement Closi...
9/23/2013Announces Non-Brokered Private Placement Financing
5/14/2013Closes Private Placement Financing
12/11/2012Tinka Announces Non-Brokered Private Placement Financing
12/11/2012Announces Non-Brokered Private Placement Financing
6/22/2011TINKA AMENDS TERMS OF PRIVATE PLACEMENT
6/2/2011TINKA ANNOUNCES $5 MILLION FINANCING
Nominations of Tinka Resources Ltd
2/7/2013Tinka Announces Appointment of Mr. Allen Morton to its Advis...
2/2/2013Tinka Announces Appointment of New Investor Relations Consul...
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9/29/2015Tinka extends zinc, tin, copper mineralization at Ayawilca
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2/10/2015Tinka expands zinc, tin, copper mineralization at Ayawilca, ...
1/15/2015(Colquipucro)announces results of 1,600 metre ten-hole drill program at C...
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1/15/2014Drills 24 Metres of 2.8% Zinc and 6.3 Metres of 6.19% Zinc a...
9/25/2013Mobilizes Drill Rig to Ayawilca Project, Peru
9/10/2013Resumes Work at Ayawilca Project in Preparation for Drilling
6/11/2013Tinka Drills 24 Metres of 4.79% Zinc and 10 Metres of 7.85% ...
6/11/2013Drills 24 Metres of 4.79% Zinc and 10 Metres of 7.85% Zinc ...
5/22/2013Tinka Drills 60 Metres of 7.75% Zinc (Including 24 Metres of...
4/2/2013Tinka Drills 16 Metres of 4.62% Zinc (Including 8 Metres of ...
3/26/2013Tinka Drills 18.7 Metres of 165 g/t Ag
2/13/2013Tinka Resources Named to TSX Venture Top 50
1/29/2013Tinka Commences Third IP Survey At Ayawilca Project And Init...
1/10/2013Tinka Resumes Drilling at Colquipucro and Ayawilca Projects,...
1/10/2013(Colquipucro)Resumes Drilling at Colquipucro and Ayawilca Projects, Peru
10/15/2012Tinka Increases Inferred Silver Resource To 32.7 Million Oun...
10/2/2012Tinka Resumes Exploration At The Chaucha Zone, Colquipucro, ...
10/2/2012(Colquipucro)Resumes Exploration At The Chaucha Zone, Colquipucro, Peru
9/17/2012Tinka Identifies Further Surface Mineralization At Zone 1, C...
9/10/2012Tinka Resumes Drilling At The Ayawilca Zone,
9/10/2012(Colquipucro)Resumes Drilling At The Ayawilca Zone, Colquipucro, Peru
5/1/2012Tinka Drills 20 m of 85.9 g/t Silver At
3/13/2012Tinka Drills 92.7 m of 92 g/t Silver,
2/21/2012Tinka drills 42 m of 165 g/t silver
5/27/2011(Colquipucro)DRILLING COMMENCES AT TINKA'S COLQUIPUCRO SILVER PROJECT, PE...
5/24/2011DRILLING COMMENCES AT TINKA'S COLQUIPUCRO
3/7/2011(Colquipucro)SIGNS DIAMOND DRILL CONTRACT FOR COLQUIPUCRO SILVER PROJECT,...
1/24/2011(Tibillos)IDENTIFIES DRILL TARGETS AT TIBILLOS COPPER PORPHYRY PROJECT...
8/28/2007(Colquipucro)Announces Positive Silver Results, Colquipucro Silver-Zinc P...
8/15/2007(Colquipucro)Update on Drill Program at Colquipucro Silver-Zinc Project, ...
5/15/2007(Colquipucro)Starts Drilling Colquipucro Silver Project, Peru
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7/25/2016Tinka Appoints Investor Relations Consultant
6/29/2016Tinka Announces Filing Of NI 43-101 Technical Report On The ...
6/27/2016Tinka Commences Property-Wide Airborne Geophysics At Ayawilc...
4/21/2016Tinka Announces AGM Results
4/4/2016Tinka Announces Grant Of Stock Options
3/23/2016Tinka Resources Appoints Mary L. Little To Board Of Director...
3/21/2016Tinka Announces Passing Of Director William Lee
1/20/2016Tinka Continues to Expand Zinc and Tin Footprint at Ayawilca
10/28/2015Tinka Drills 14.9 Metres at 1.1% Tin & 0.36% Copper at Ayawi...
10/13/2015Tinka Drills 50.5 Metres at 1.23% Tin & 0.16% Copper at Ayaw...
7/28/2015commences 10,000 metre drill program at Ayawilca zinc projec...
7/27/2015Hot Maden – Continues to Deliver Significant Results
4/20/2015announces appointment of new Vice President Exploration
4/20/2015announces appointment of new Vice President Exploration
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4/13/2015Tinka Announces C$7.0 Million Private Placement Financing wi...
3/27/2015Tinka Announces Filing of NI 43-101 Technical Report on the ...
2/27/2015Tinka Announces AGM Results
2/27/2015IIROC Trading Resumption - TK
2/26/2015Tinka Announces Initial Inferred Zinc Resource of 13.3 Milli...
2/26/2015IIROC Trading Halt - TK
1/15/2015Tinka announces results of 1,600 metre ten-hole drill progra...
12/18/2014Tinka provides update on drill programs at Ayawilca-Colquipu...
12/18/2014(Colquipucro)provides update on drill programs at Ayawilca-Colquipucro, P...
12/11/2014Tinka announces release from escrow following Tier 1 graduat...
11/25/2014Tinka Discovers Tin - Copper Mineralization Beneath High-Gra...
11/25/2014Discovers Tin - Copper Mineralization Beneath High-Grade Zin...
11/13/2014Tinka announces graduation to Tier 1 on the TSX Venture Exch...
11/12/2014Intersects Thick High-grade Zinc Mineralization in Four Dril...
11/12/2014Tinka Intersects Thick High-grade Zinc Mineralization in Fou...
9/22/2014Tinka Starts Drilling With Third Rig at Colquipucro-Ayawilca...
9/11/2014Tinka Announces Start of Drilling at Colquipucro, Peru
9/8/2014Tinka Starts Drilling at Ayawilca; Farms Out Rurimarac Gold ...
8/26/2014Tinka Mobilizes First of Three Drill Rigs to Ayawilca-Colqui...
8/6/2014Tinka Provides Exploration Update; Grants Stock Options; Ret...
5/21/2014Tinka to Commence Geophysical Surveying to Cover 26 km2 at A...
12/18/2013Drills 12 Metres of 4.22% Zinc and Intercepts Mineralization...
12/16/2013Adopts Advance Notice Policy for Director Nominations
11/30/2013Announces Appointment of Corporate Development - Investor Re...
10/24/2013Resumes Drilling at Ayawilca Project, Peru
9/3/2013(Colquipucro)Receives Return to Work Permit for Ayawilca Project and Dril...
7/23/2013Tinka Announces the Approval of Its Environmental Impact Ass...
7/23/2013Announces the Approval of Its Environmental Impact Assessmen...
7/23/2013Announces the Approval of Its Environmental Impact Assessmen...
5/23/2013Tinka Drills 60 Metres of 109 g/t Ag and 10 Metres of 232 g/...
5/23/2013(Colquipucro)Drills 60 Metres of 109 g/t Ag and 10 Metres of 232 g/t Ag a...
5/22/2013Drills 60 Metres of 7.75% Zinc (Including 24 Metres of 13.85...
5/10/2013Announces Oversubscription in Private Placement Financing
4/23/2013Tinka Identifies 1.7 Km Anomalous Geophysical Strike Length ...
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4/2/2013Tinka Drills 16 Metres of 4.62% Zinc
4/2/2013Drills 16 Metres of 4.62% Zinc (Including 8 Metres of 6.62% ...
3/26/2013Drills 18.7 Metres of 165 g/t Ag (Including 8 Metres of 298 ...
3/21/2013Tinka Announces Results of AGM
3/12/2013Tinka Drills 12 Metres of 5.84% Zinc
2/13/2013Named to TSX Venture Top 50
1/8/2013Tinka Drills 70 metres of 4.8% Zinc (Including 19 metres of ...
11/8/2012Tinka Drills 20 m of 7.1% Zinc Including 14 m of 9.6% Zinc a...
10/18/2012Tinka Releases Independent NI 43-101 Report for the Colquipu...
10/15/2012(Colquipucro)Increases Inferred Silver Resource To 32.7 Million Ounces At...
8/2/2012Tinka Secures Surface Agreement With
3/5/2012Tinka Extends IP Anomaly at Ayawilca Zone to
2/23/2012Tinka Drills 10.4 metres of 7% Zn at
2/7/2012Tinka commences second IP survey at Ayawilca
8/4/2011Tinka Resources drilling update
6/1/2011ANNOUNCES $5 MILLION FINANCING
5/19/2011DRILL RIG MOBILIZED TO TINKA'S COLQUIPUCRO
5/19/2011GUYANA PRECIOUS METALS ANNOUNCES TAKARA RESOURCES PROVIDES ...
3/7/2011TINKA SIGNS DIAMOND DRILL CONTRACT FOR
10/3/2007Drills 66m Grading 83 g/t Silver from Surface at Colquipucro...
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