Tinka Resources Ltd

Published : August 06th, 2014

Tinka Provides Exploration Update; Grants Stock Options; Retains New Investor Relations Consultant

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Keywords :   Diamond | Equity Markets | Europe | Growth | Lead | Market | Peru | Silver | Zinc |

Tinka Provides Exploration Update; Grants Stock Options; Retains New Investor Relations Consultant

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 6, 2014) - Tinka Resources Limited ("Tinka" or the "Company") (TSX VENTURE:TK) is pleased to provide an update on the Company's planned activities at the Ayawilca and Colquipucro projects in Peru for the next six months by the Company's new President and CEO, Dr. Graham Carman.

Key points

  • A 10,000 metre drill program will begin at Ayawilca and Colquipucro by the first week of September.
  • Objectives of the program include establishing an initial zinc resource at Ayawilca and increasing the existing silver inventory at Colquipucro.
  • New magnetic data has identified a number of untested drill targets prospective for zinc mineralization along a 3 kilometre trend at Ayawilca.

Dr. Graham Carman, Tinka's new President and CEO, stated: "Tinka is focussed on advancing its 100%-owned Ayawilca and Colquipucro projects in Peru. The Company now has the financial resources to adequately test and unlock value at both of these exciting projects. A 10,000-metre Diamond drill program will begin shortly, and will take 4 to 5 months to complete. The first of two drill rigs will be mobilised to Ayawilca by the end of August 2014."

"The Colquipucro and Ayawilca projects are a good strategic fit for the Company, providing commodity diversification as well as cost efficiencies given their close proximity. Colquipucro offers the potential for early cash flow from the silver-rich oxide cap, while the adjacent Ayawilca project has the potential to be a major zinc sulphide discovery. Recent geophysical data has highlighted a number of new zinc targets located away from previously drilled areas, offering further exploration upside."

"I am pleased to have the opportunity to lead Tinka during its next growth phase. I would like to acknowledge the efforts of the past President and CEO of Tinka, Mr. Andrew Carter, and wish him well in his future endeavours."

Upcoming drill program

About 80% of the drill metres in the upcoming drill program will be carried out at Ayawilca in approximately 20 holes. Initially, drilling will be focussed close to areas of known zinc mineralization with the objective of calculating a resource (see Table 1 for a summary of significant past drill intercepts). Several untested geophysical targets will also be drilled in the upcoming program.

Table 1. Selective highlights of previously released Tinka zinc drill intercepts from Ayawilca
Drill hole From m To m Interval m Zinc %
DD71 196.0 200.0 4.0 31.0
A12-04A 266.0 278.0 12.0 10.5
A12-08 195.5 232.0 36.5 6.5
including 195.5 214.5 19.0 9.0
A13-05 130.3 342.3 212.0 5.2
including 130.3 179.3 49.0 10.1
and 316.0 326.0 10.0 12.9
A13-06 260.0 322.0 62.0 4.6
including 264.6 277.9 13.3 8.4
and 312.0 322.0 10.0 7.8
A14-08 375.0 411.9 36.9 6.1
and 331.2 352.0 20.8 6.1

At Colquipucro, drilling will aim to increase the silver oxide footprint as defined by the existing NI 43-101 Inferred Mineral Resource (12.1 Mt @ 82g/t silver for 32 million ounces contained silver: Tinka NI 43-101 Technical Report, April 2 2014). Recent channel sampling immediately northwest of the resource indicates surface mineralization is open in that direction and is untested by drilling. The upcoming drill program, if successful, could extend the silver footprint up to 200 metres beyond the existing resource.

New geophysical targets

A ground magnetic survey covering 245 line kilometres has recently been completed, extending the area of magnetics coverage from 4 km2 to almost 28 km2. This new survey has identified a number of untested drill targets prospective for zinc mineralization along a 3-kilometre northeast trend at Ayawilca. Zinc mineralization at Ayawilca commonly occurs in close association with magnetic minerals in the drill core (including pyrrhotite and magnetite). We believe that the magnetics data is useful in identifying targets for drilling, given that the zinc mineralization is 'blind' beneath a barren cover sequence. Images of the new magnetics data will be available on Tinka's website at http://www.tinkaresources.com/s/Ayawilca.asp shortly.

Grant of Stock Options

Tinka announces the granting of stock options to its directors, officers and employees to purchase up to 3,570,000 common shares of the Company for a period of three years. Of these stock options, 2,125,000 are being granted at an exercise price of $0.37 per common share and 1,445,000 at an exercise price of $0.30 per common share.

Appointment of Investor Relations Consultant

Tinka announces the engagement of Albis Capital Corp. ("Albis") to act as Investor Relations Consultant to the Company. The principals of Albis are Mr. James Powell and Ms. Seema Sindwani. Albis will work with Tinka to, among other things, develop a strategy to enhance and expand the Company's exposure in North America and Europe, provide market awareness, promotion and arrange road shows. Under the contract, subject to TSX Venture Exchange approval, Albis will be paid a monthly fee of $2,500 plus GST and has been granted stock options to purchase up to 200,000 common shares of Tinka at an exercise price of $0.30 per common share for a period of three years, subject to vesting and termination provisions pursuant to the Company's Stock Option Plan and TSX Venture Exchange Policies. Albis' engagement may be terminated at any time on 30-day advance notice.

Tinka also announces the termination of the services agreement with Mr. Reg Advocaat under which Mr. Advocaat provided corporate development and investor relations services. Tinka thanks Mr. Advocaat for the services provided during the term of the agreement and wishes him well in his future endeavours.

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. Tinka's focus is on its 100% owned Colquipucro and Ayawilca projects located in the highly mineralized silver-lead-zinc belt of Central Peru.

On behalf of the Board,

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.

Read the rest of the article at finance.yahoo.com
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Tinka Resources Ltd

EXPLORATION STAGE
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$ 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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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...
Project news of Tinka Resources Ltd
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...
2/18/2014Drills 36 Metres of 5.93% Zinc and 22.8 Metres of 5.80% Zinc...
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
Corporate news of Tinka Resources Ltd
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
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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