Tinka Resources Ltd

Published : September 08th, 2014

Tinka Starts Drilling at Ayawilca; Farms Out Rurimarac Gold Property in Peru

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Keywords :   Diamond | Equity Markets | Gold | Lead | Peru | Silver | Zinc |

Tinka Starts Drilling at Ayawilca; Farms Out Rurimarac Gold Property in Peru

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 8, 2014) - Tinka Resources Limited ("Tinka" or the "Company") (TSX VENTURE:TK) announces that drilling at the Company's 100%-owned Ayawilca zinc project, located in central Peru, has started. The Diamond drill program at Ayawilca is planned for 19 holes totalling approximately 8,500 metres.

The first drill hole is underway to target the down-dip extension of zinc mineralization in drill hole A13-05 (213 metres @ 5.3% zinc from 130.3 metres).

A second Diamond drill rig has been mobilized to the Company's 100%-owned Colquipucro silver project to initially drill test the northern extension of the existing 32 million ounce inferred silver oxide resource. The first drill hole at Colquipucro is anticipated to commence by September 9, 2014. A 10 hole program is planned at Colquipucro for approximately 1,500 metres.

A third drill rig is expected to be mobilized to Ayawilca by the end of September 2014.

In other news, the Company is pleased to announce it has entered into an option agreement with Mariana Resources Limited ("Mariana") whereby Mariana can earn up to 70% of the Rurimarac gold property, consisting of 2,000 ha, in the Department of Ancash, central Peru. The Rurimarac property was acquired by Tinka following the acquisition of Darwin Resources Corp.

Key terms are as follows:

  • Mariana can earn 51% of the Rurimarac property by drilling 1,500 metres on the property ('First Option') within 12 months of receipt of the approval to initiate drilling activities from the Peruvian authorities. Mariana must file an environmental impact study (DIA) for the drill program within the next 6 months.
  • Mariana can earn an additional 19% of the Rurimarac property by drilling a further 3,000 metres within two years of attaining a 51% interest ('Second Option').
  • If Mariana exercises the First Option and/or the Second Option, a joint venture will be structured pursuant to the relevant interests of both parties. Dilution below 10% will convert to a 2.5% net smelter return royalty, of which 1% may be purchased under certain conditions for US$1 million.

Dr. Graham Carman, Tinka's President and CEO, stated: "We are very pleased to have started the drilling at Ayawilca with the first of two rigs now working around the clock. Soon drilling will also be underway at Colquipucro. We look forward to publishing the results from both programs as they become available."

"Farm out of the Rurimarac gold property is consistent with Tinka's strategy, to be focussed on exploration at the Company's 100%-owned Colquipucro - Ayawilca silver and zinc projects. Tinka will have the opportunity to retain a significant minority position at Rurimarac, should the next phases of exploration be successful. Importantly, Mariana will cover all exploration costs during the option period(s) and must maintain the property in good standing."

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-zinc-lead 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

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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$ 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
2/23/2015Tinka confirms indium with zinc mineralization at Ayawilca, ...
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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