New drill intercepts include 10 metres at 5.9% zinc & 119 g/t indium in A15-38, and 50 metres at 0.52% tin & 0.25% copper in A15-39

VANCOUVER , Sept. 29, 2015 /CNW/ - Tinka Resources Limited ("Tinka" or the "Company") (TSXV: TK) (OTCPK: TKRFF) is pleased to announce results for the first seven holes of its ongoing 2015 drill program at the Ayawilca project, central Peru.  These new drill results continue to show the outstanding zinc, tin, and copper potential and the large scale of the Ayawilca discovery.

All holes in the current program are step-out holes drilled beyond the limits of the Inferred Mineral Resources (13.3 million tonnes grading 7.7% zinc equivalent;  PR February 26, 2015 ).  Significant zinc mineralization has been intersected in six out of the first seven drill holes and remains open to the east, south, and north.  

Drill highlights include:

Zinc Mineralization:

• A15-38:  43.4 metres at 3.65% zinc and 63 g/t indium from 236.6 metres depth, including:
  • 10.0 metres at 5.9% zinc and 119 g/t indium from 268.0 metres depth;
  • Located 220 metres northeast of Central Ayawilca Inferred Mineral Resource;

• A15-39:  30.0 metres at 3.5% zinc and 50 g/t indium from 320.0 metres depth, including:
  • 1.7 metres at 18.9% zinc and 226 g/t indium from 329.3 metres depth;
  • Located 60 metres south of Central Ayawilca Inferred Mineral Resource;

• A15-40: 8.0 metres at 5.3% zinc and 91 g/t  indium from 233.8 metres depth;
  • Located 180 metres east of Central Ayawilca Inferred Mineral Resource;

Tin-Copper Mineralization:

• A15-39: 82.0 metres at 0.33% tin and 0.22% copper from 370.0 metres depth, including:
  • 50.0 metres at 0.52% tin and 0.25% copper from 370.0 metres depth, including:
  • 8.0 metres at 1.43% tin and 0.19% copper from 380.0 metres depth.

Dr. Graham Carman , Tinka's President and CEO, stated: "The key objective of this current drill program is to expand the zinc resource at the project. I am pleased to report we have discovered significant zinc mineralization between Central and East Ayawilca, where we have high expectations of a substantial increase in the resource inventory.  Zinc mineralization has also proven to be open to the north of East Ayawilca. Drilling will continue until early-mid November targeting extensions of the mineralization to the east, south and west."

"Importantly, we have also just drilled our thickest and highest-grade tin – copper intercept at the project (A15-39) located immediately adjacent to and beneath the zinc mineralization at Central and East Ayawilca.  We believe the tin mineralization will add substantially to the value of the project, with tin currently valued more than 3 times copper and 9 times zinc in the world metals markets. Tinka is working towards its initial tin-copper resource estimate in 2016".  

2015 Ayawilca Drill Program
The 2015 program is focusing on drill testing extensions of the Inferred Mineral Resource at East, Central and West Ayawilca (Figure 1 and Figure 2). Up to twenty step-out holes are planned using two Diamond drill rigs.  Drilling is likely to continue until early-mid November 2015 , when the Company will take a break from drilling to compile and interpret the new results and plan the 2016 work program. 

The zinc mineralization is interpreted to be generally gently-dipping, replacing favourable sedimentary units. The true widths of the intercepts are believed to be at least 75% of the down-hole widths, except where marked (see Table 1). Table 2 summarises the key drill hole collar information to date.

Geology of Ayawilca
Zinc mineralization at Ayawilca occurs as massive to semi-massive sulphide replacements of Mesozoic limestone up to 250 metres thick (Pucara Group).  The zinc mineralization is interpreted to be mostly within gently-dipping replacement bodies or 'mantos', with feeders which are sub-vertical to steeply-south dipping. The zinc occurs as sulphide impregnations (sphalerite) accompanied by abundant pyrite, pyrrhotite, chlorite, iron carbonate, and/or magnetite. Minor sulphides include galena, chalcopyrite, and arsenopyrite.  The Pucara limestone is overlain by Cretaceous sandstone (Goyllarisquizga Group) about 150 metre thick.  The sandstone largely forms a barren cap to the mineralization, although narrow sphalerite-rich sub-vertical veins (

Massive to semi-massive pyrrhotite mantos typically occur near the base of the Pucara Group underneath the zinc mineralization.  The pyrrhotite bodies are magnetic, and appear to be the main source of the strong geophysical anomalies.  Disseminated tin and copper mineralization occurs within the massive sulphide mantos and in vein stockworks underneath the mantos hosted by metamorphic rocks (Excelsior Group).  The pyrrhotite-tin-copper mantos vary in thickness from a few metres to up to 50 metres thick. 

Ayawilca is located in the high Andes at elevations of between 4000 and 4300 metres.  Ayawilca would likely be mined, if proven to be economic, using underground mining methods accessed by horizontal portals at lower elevations. 

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 LimitedTinka 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 at 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.