Tinka Resources Ltd

Published : November 12th, 2014

Tinka Intersects Thick High-grade Zinc Mineralization in Four Drill Holes at Ayawilca

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Tinka Intersects Thick High-grade Zinc Mineralization in Four Drill Holes at Ayawilca

VANCOUVER , Nov. 12, 2014 /CNW/ - Tinka Resources Limited ("Tinka" or the "Company") (TSXV: TK) (OTCPK: TKRFF) is pleased to announce results of the first four holes of its current drill program at the Ayawilca zinc project, central Peru.  All four holes have intersected high-grade zinc sulphide mineralization over substantial thicknesses.  Tinka continues to prove the large scale zinc potential of Ayawilca.

Key drill results:

West Ayawilca area:

  • A14-22: 148.5 metres at 4.3% zinc from 170.0 metres depth, including 32.8 metres at 7.4% zinc from 211.2 metres depth, and 31.0 metres at 6.3% zinc from 283.5 metres depth;
  • A14-20: 2.2 metres at 21.0% zinc from 164 metres depth; and 34.15 metres at 5.3% zinc from 179.85 metres depth, including 12.0 metres at 10.5% zinc from 179.85 metres depth; and 42 metres at 4.3% zinc from 268 metres depth;
  • A14-19: 144.9 metres at 3.9% zinc from 184.0 metres depth, including 18.0 metres at 7.1% zinc from 250 metres depth;

East Ayawilca area:

  • A14-21: 19.6 metres at 5.7% zinc from 164.0 metres depth, including 6.0 metres at 10.2% zinc from 166.0 metres depth.

Three of the holes at West Ayawilca (A14-19, A14-20, A14-22) were collared within 150 metres of a previous Tinka drill hole, A13-05, which intersected 213 metres at 5.3 % zinc from 130 metres depth (see Figures 1 and 2). The fourth hole (A14-21) targeted a previously untested geophysical magnetic anomaly at East Ayawilca and also intersected significant zinc mineralization.  A 1% zinc cut-off grade over 6 metre intervals was used by the Company. Credits of lead (0.1-0.4%) and silver (10 to 20 g/t Ag) typically accompany the zinc mineralization.  The mineralized rock is interpreted from drill core measurements to be generally gently-dipping.  The true widths of the intercepts are believed to be at least 75% of the down-hole widths.

Dr. Graham Carman , Tinka's President and CEO, stated: "These results from the first four holes in the current drill campaign are very significant, with all holes intersecting strong zinc sulphide mineralization over substantial vertical thicknesses.  At West Ayawilca we are starting to see definition of the zinc mineralization around A13-05 with good probability of continuity of mineralization between holes covering a surface area of approximately 200 metres (north-south) by 130 metres (east-west).  Mineralization remains open, and drilling is continuing."

"At East Ayawilca, one kilometre to the east, the first hole drilled to test a geophysical anomaly (A14-21) intersected significant zinc mineralization over a 20 metre interval.  We await assays for an additional hole, A14-24, which has just been completed. Further holes are planned at East Ayawilca in the current campaign as we believe this area has large scale zinc potential. It is very exciting that Tinka is intersecting zinc mineralization in two separate areas at Ayawilca, with a number of other targets including Central Ayawilca yet to be adequately followed up (e.g., drill hole A12-08 intersected 36.5 metres at 6.5% zinc in 2012)."
"Tinka is now approximately midway through the current drill program at Ayawilca, with two drill rigs operating.  Seven holes have now been completed with assays awaited for three additional holes.  Drilling will continue until mid-December, when operations will close down for Christmas and New Year.  This will allow the Company time to compile and interpret results, and plan the 2015 drill programs."

Geology of the zinc mineralization

Zinc mineralization at Ayawilca occurs in the form of massive to semi-massive sulphide replacements of sedimentary rocks, with lesser vein-style mineralization. The sulphides consist of sphalerite, pyrite, and pyrrhotite (with minor galena, chalcopyrite, and arsenopyrite) generally accompanied by chlorite, carbonate, and sometimes magnetite.  The host rocks are a sedimentary sequence consisting of sedimentary breccia, siltstone, shale and limestone up to 250 metres thick ("Oyon Formation") overlain by sandstone around 150 metres thick ("Goyllar Group") forming a barren cap to the mineralization, although the sandstone can host sporadic sulphide veins.  Beneath the Oyon Formation, which dips gently to the east, lies a metamorphic rock known as phyllite ("Excelsior Group") which is barren of zinc.  Drill holes are generally stopped a few metres into phyllite, with the average hole depth being 395 metres so far.  Drill holes are angled steeply between 60 degrees and 85 degrees to the horizontal. See Tables 1 and 2 for a summary of the drill results and drill collar information.   

Gravity geophysical survey

To further assist with the drill targeting, a geophysical gravity survey is now underway at Ayawilca.  The gravity survey should assist our geological team in identifying massive sulphide target zones that are not associated with magnetic anomalies, which has been our principal targeting tool in the program to date.  An area of approximately 2 km2 will be covered with a 100 metre by 100 metre gravity point spacing.  A surrounding area of approximately 9 km2 will be covered with 200 metre x 200 metre point spacing.  The gravity survey is expected to be completed by the end of November 2014. 

Colquipucro drill program

Drilling is continuing with one drill rig at the adjacent Colquipucro silver oxide project, located 2 kilometres to the north of Ayawilca (see Figure 3).  Tinka is carrying out a 10-hole, 1,500 metre drill program consisting of infill and resource extension drilling.  We expect the drill program at Colquipucro to be completed by the end of November, with results of the full program to be released by the end of January 2015. 

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 a junior resource acquisition and exploration 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, located 40 kilometres from Peru's largest historic zinc mine, Cerro de Pasco , has the potential to be a major zinc sulphide discovery.  The nearby Colquipucro silver oxide project is a near-surface, sandstone hosted silver oxide deposit with a current inferred resource containing 32 million ounces silver with potential for expansion. 

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, 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 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.

Notes on core sampling:
All holes are Diamond cores with recoveries generally at or close to 100%.  The drill core (typically HQ size) is marked up, logged, and photographed on site.  The cores are then cut in half at the Company's core storage facility with half-cores stored as a future reference.  The other half-core is bagged on average over 2 metre composite intervals and sent to SGS laboratory in Lima for assay in batches.  Standards and blanks are inserted into each batch prior to departure from the Company'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 are reassayed using precise ore-grade AAS techniques.

Notes on assay results (see Table1):
Zinc intersections have been calculated on the basis of a 1% zinc cut-off over 6 metre intervals.

Table 1.  Summary of drill results (new results highlighted) and significant past drill results from Ayawilca









Drill hole

From (m)

To (m)

Interval  (m)

Zn (%)

Pb (%)

Ag (g/t)

Cu (%)

A14-22

170.00

318.50

148.50

4.33

0.36

15

0.03

including

211.20

244.00

32.80

7.44

0.02

10

0.02

including

228.00

233.75

5.75

16.76

0.02

24

0.07

and

283.50

314.50

31.00

6.31

0.39

13

0.02

including

293.90

295.90

2.00

28.94

5.84

139

0.09

A14-21

164.00

183.60

19.60

5.67

0.02

8

0.05

including

166.00

172.00

6.00

10.15

0.04

14

0.06

and

298.00

370.60

72.60

0.44

0.05

15

0.08

including

298.00

300.00

2.00

0.15

0.00

0

0.00

A14-20

164.00

166.20

2.20

20.96

0.11

80

0.37

and

179.85

214.00

34.15

5.27

0.25

22

0.04

including

179.85

191.80

11.95

10.52

0.40

23

0.02

including

179.85

184.00

4.15

24.80

1.00

58

0.04

and

242.00

250.00

8.00

2.23

1.28

181

0.09

and

268.00

310.00

42.00

4.26

0.08

25

0.04

including

299.80

301.00

1.20

18.64

0.14

52

0.01

A14-19

184.00

328.90

144.90

3.88

0.03

7

0.02

including

250.00

268.00

18.00

7.11

0.01

11

0.03









SIGNIFICANT PAST RESULTS:






A12-04A

260.00

280.00

20.00

7.12

0.02

9

0.04

including

266.00

278.00

12.00

10.51

0.03

14

0.05

A12-08

162.00

232.00

70.00

4.77

0.16

5

0.03

including

170.00

174.00

4.00

11.66

0.03

9

0.05

and

195.50

232.00

36.50

6.51

0.02

5

0.06

including

195.50

214.50

19.00

9.02

0.02

6

0.08

and

266.00

322.80

56.80

3.60

0.02

5

0.02

A12-09

216.00

245.50

29.50

3.21

0.12

6

0.06

A13-01

228.00

235.20

7.20

8.54

0.09

6

0.07

A13-02

236.00

328.00

92.00

2.90

0.10

5

0.02

A13-03

165.30

174.00

8.70

4.31

0.57

11

0.07

A13-04

190.00

198.00

8.00

8.37

0.02

6

0.04

and

266.00

332.00

66.00

2.28

0.11

4

0.02

A13-05

130.30

343.20

212.90

5.34

0.17

15

0.03

including

130.30

179.50

49.20

10.07

0.55

32

0.16

including

150.00

166.00

16.00

18.14

0.05

39

0.25

and

316.00

326.00

10.00

12.93

0.02

42

0.04

A13-06

170.00

196.00

26.00

2.20

0.05

5

0.01

and

210.00

322.00

112.00

3.71

0.04

6

0.01

including

262.00

322.00

60.00

4.67

0.07

7

0.01

including

264.65

278.00

13.35

8.42

0.20

14

0.02

and

312.00

322.00

10.00

7.85

0.07

7

0.01

A13-07

75.80

76.90

1.10

30.00

0.06

54

0.10

A13-12A

250

268

18.00

3.84

0.03

5

0.05

and

280.00

292.00

12.00

4.22

0.24

16

0.05

A13-15

329.20

344.00

14.80

4.80

0.01

5

0.09

A13-16

370.00

394.00

24.00

2.80

0.01

2

0.01

A13-17

372.10

394.00

21.90

3.10

0.19

17

0.05

A14-18

331.20

360.00

28.80

5.62

0.17

10

0.02

including

342.50

350.00

7.50

8.75

0.30

20

0.04

and

375.10

412.00

36.90

5.62

0.41

9

0.04

DD53

226.00

280.00

54.00

3.50

0.12

8

0.03

and

292.00

315.10

23.10

2.54

0.03

2

0.01

DD52B

272.00

288.00

16.00

6.80

0.13

9

0.00

DD70

100.00

104.00

4.00

10.45

0.04

59

0.13

and

156.00

170.00

14.00

4.18

0.07

12

0.02

DD71

196.00

200.00

4.00

30.90

0.32

63

0.13

Table 2.  Drill hole collar coordinates and hole details (new drill holes shown in bold)










Drill hole

Easting

Northing

Elevation

Depth

Azimuth

Dip

Comment

Date

A14-19

332951

8845940

4263

407.90

360

-75

New results

2014

A14-20

332896

8845986

4270

362.70

360

-70

New results

2014

A14-21

334112

8846100

4000

515.00

350

-60

New results

2014

A14-22

333000

8845928

4261

355.10

10

-70

New results

2014

A14-23

333078

8845921

4242

323.10

360

-75

Pending

2014

A14-24

334100

8846385

4055

455.90

360

-70

Pending

2014

A14-25

332903

8846062

4263

350.40

360

-70

Pending

2014










PAST AYAWILCA DRILL HOLES:






A12-01

333188

8846050

4210

327.10

360

-60

Released

2012

A12-02

333188

8846049

4210

303.00

360

-90

Released

2012

A12-03

333194

8846208

4227

349.45

180

-70

Released

2012

A12-04A

332967

8846187

4241

285.60

360

-90

Released

2012

A12-05

332967

8846188

4241

327.70

360

-60

Released

2012

A12-06

333591

8846155

4153

359.45

360

-60

Released

2012

A12-07

333591

8846154

4153

367.10

360

-90

Released

2012

A12-08

333389

8846042

4191

344.20

180

-70

Released

2012

A12-09

333389

8846042

4191

360.80

360

-90

Released

2012

A12-10

333391

8846197

4181

366.55

180

-70

Released

2012

A13-01

333590

8846039

4145

359.95

180

-70

Released

2013

A13-02

333389

8846040

4191

370.90

180

-60

Released

2013

A13-03

333590

8846041

4145

338.25

180

-90

Released

2013

A13-04

333591

8846038

4145

380.10

180

-60

Released

2013

A13-05

332954

8846075

4252

361.50

360

-90

Released

2013

A13-06

332953

8846074

4251

400.10

180

-70

Released

2013

A13-07

332952

8846074

4251

314.10

270

-60

Released

2013

A13-08

332954

8846075

4252

350.60

90

-70

Released

2013

A13-09

333188

8846050

4210

347.80

180

-60

Released

2013

A13-10

333500

8845870

4168

326.10

360

-69.9

Released

2013

A13-11

333500

8845870

4168

344.20

180

-69.8

Released

2013

A13-12

333691

8846004

4133

122.00

180

-60

Released

2013

A13-12A

333691

8846004

4133

356.80

180

-69.9

Released

2013

A13-13

333797

8845950

4120

386.80

180

-65.5

Released

2013

A13-14

333500

8846134

4167

398.70

360

-60.9

Released

2013

A13-15

333300

8846065

4200

355.40

180

-64.9

Released

2013

A13-16

333898

8846295

4112

454.70

360

-59.6

Released

2013

A13-17

333898

8846294

4112

422.30

360

-75.6

Released

2013

A14-18

333900

8846429

4122

448.30

360

-60

Released

2014

DD52

332950

8846081

4254

196.60

310

-50

Released

2011

DD52B

332953

8846076

4252

318.80

360

-70

Released

2011

DD53

332967

8846186

4241

315.10

165

-60

Released

2011

DD66

332909

8846064

4252

230.60

165

-50

Released

2011

DD67

332817

8846037

4272

230.80

165

-50

Released

2011

DD68

332873

8846192

4260

176.40

165

-50

Released

2011

DD69

332775

8846170

4277

198.20

165

-50

Released

2011

DD70

332826

8846305

4264

243.30

165

-50

Released

2011

DD71

332733

8846277

4291

231.10

165

-50

Released

2011

Note: the mineralized rock is interpreted from drill core measurements to be generally gently-dipping.  The true widths of the intercepts are believed to be at least 75% of the down-hole widths.

Note on drill hole data:

Eastings and Northings are based on the PSAD56/18S UTM datum.  The coordinates for the current drill holes are collected via a hand-held GPS and are considered accurate to within a few metres. Drill hole locations from the previous programs were surveyed with a theodolite or determined by tape and compass from a known survey point. Elevations are taken from a digital topographic model of the project based on a number of known points and are considered accurate to within a few metres.  Azimuth and dip measurements were taken using compass and inclinometer at surface. All holes from A13-10 onwards were down-hole surveyed; small variances in both azimuth and dip do occur down hole. 

IMAGES:

Figure 1.  Drill map of Ayawilca over ground magnetics image (white-red areas are magnetic bodies)

Figure 2.   West Ayawilca drill map (plan view) with current drill holes and intersections

Figure 3. Geology and location map of Ayawilca-Colquipucro projects, central Peru

SOURCE Tinka Resources Limited

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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$ 26.9 millions as of today (US$ 21.5 millions, € 18.8 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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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
4/20/2015Tinka announces appointment of new Vice President Exploratio...
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...
12/18/2014(Colquipucro)provides update on drill programs at Ayawilca-Colquipucro, P...
12/18/2014Tinka provides update on drill programs at Ayawilca-Colquipu...
12/11/2014Tinka announces release from escrow following Tier 1 graduat...
11/25/2014Discovers Tin - Copper Mineralization Beneath High-Grade Zin...
11/25/2014Tinka Discovers Tin - Copper Mineralization Beneath High-Gra...
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 ...
4/23/2013Identifies 1.7 Km Anomalous Geophysical Strike Length At Aya...
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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TSX-V (TK.V)Other OTC (TKRFF)
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