Tinka Resources (TSX.V: TK)
Announce results of four drill holes from the current drill program at Ayawilca.
Three of the holes targeted extensions of indicated resources at West and South Ayawilca (holes A20-170, 171 & 175) while one hole is an infill hole at West Ayawilca (A20-173).
Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “Company”) (TSXV & BVL: TK) (OTCPK: TKRFF) is pleased to announce results of four drill holes from the current drill program at Ayawilca. Three of the holes targeted extensions of indicated resources at West and South Ayawilca (holes A20-170, 171 & 175) while one hole is an infill hole at West Ayawilca (A20-173).
The Company has now completed approximately 6,000 metres of the planned 7,500 metres drill program in the resource expansion program. Many of the completed holes have targeted zinc-silver mineralization in the area between West and South Ayawilca, an area that has not been well drill tested .
Two rigs are operational and are expected to remain at site until February 2021. So far, sixteen diamond drill holes have been completed (A20-169 to A21-184). Results for eleven of these holes are pending.
Hole A20-170 (South Ayawilca)
- 38.8 metres @ 9.3% zinc & 14 g/t silver from 282.6 metres to 321.4 metres depth, including
- 13.7 metres @ 15.9% zinc & 26 g/t silver from 282.6 metres depth;
- The wider intersection is an extension of the mineralized interval reported on November 30, 2020, to a depth of 309 metres only; and
- 4.5 metres @ 14.5% zinc & 31 g/t silver from 340.1 metres depth; and
- 5.0 metres @ 5.2% zinc. 0.6% lead & 16 g/t silver from 352.4 metres depth.
Hole A20-173 (West Ayawilca)
- 18.7 metres @ 7.2% zinc & 11 g/t silver from 187.3 metres depth, including
- 7.3 metres @ 11.8% zinc & 21 g/t silver from 196.0 metres depth; and
- 23.9 metres @ 6.2% zinc & 8 g/t silver from 252.1 metres depth; and
- 2.8 metres @ 15.0% zinc & 6 g/t silver from 284.0 metres depth.
Hole A20-175 (West Ayawilca)
- 1.2 metres @ 43.6% zinc, 0.5% lead & 212 g/t silver from 136.5 metres depth, and
- 14.3 metres @ 5.0% zinc & 9 g/t silver from 235.7 metres depth.
Hole A20-171 (West Ayawilca – vein style)
- 0.4 metres @ 19.6% zinc & 99 g/t silver from 110.0 metres depth.
Mineralization in holes A20-170, A20-173 & A20-175 is associated with gently-dipping sulphide rich “mantos” hosted in limestones. True thicknesses of the mantos are estimated to be at least 90% of the downhole thicknesses. Mineralization in hole A20-171 is vein style hosted by sandstones which has an unknown true thickness. Cross sections of holes A20-170 and A20-173 are shown in Figures 2 and 3, respectively.
“Ayawilca continues to produce strong zinc results with significant silver credits. Hole A20-170 is expected to expand our indicated resources at South Ayawilca, with mineralization still open to the southeast. Holes A20-173 and A20-175 have improved our geological model of the central portion of West Ayawilca with good grades also intersected in these holes.“
“We await with much anticipation the assay results for the eleven pending drill holes, and we still have a handful more holes to drill. The receipt of results from the lab continues to be slow due to coronavirus pandemic protocols in Peru. Drilling will continue for the next few weeks, focusing on expanding our high-grade indicated resources at South Ayawilca that will be reflected in an updated Preliminary Economic Assessment (PEA) planned for mid-2021.”
“Ayawilca contains one of the higher-grade zinc resources anywhere in the world, and we are very excited to see zinc prices reflect the lack of significant new supply. We strongly believe that Ayawilca is perfectly positioned to take advantage of current positive market sentiment towards base metals.”
President and CEO of Tinka, Dr. Graham Carman
About Ayawilca: The Ayawilca Zinc Zone contains an estimated 1.8 billion pounds zinc and 5.8 million ounces silver in the Indicated category, and 5.6 billion pounds zinc and 25.2 million ounces silver in the Inferred category as sulphides (see news release dated November 26, 2018).
The Colqui Silver Zone contains an estimated 14.3 million ounces silver in the Indicated category and 13.2 million ounces silver in the Inferred category, with mineralization starting from surface (see link to Technical Report dated July 2, 2019).
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