Tinka Resources (TSX.V: TK)
Announced the signing of a definitive agreement with BHP World Exploration Inc. Sucursal del Peru pursuant to which Tinka, through its wholly-owned subsidiary Darwin Peru S.A.C. , has acquired a 100% interest in the Silvia copper-gold-zinc exploration project.
This project expands the land package at Ayawilca by 200%.
|Tinka Resources||TSX.v : TK|
|Metals||Zinc + Silver|
|Market cap||C$ 64 m @ 19c|
Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “Company”) (TSXV & BVL: TK) (OTCQB: TKRFF) is pleased to announce the signing of a definitive agreement (the “Agreement”) with BHP World Exploration Inc. Sucursal del Peru (“BHP”) pursuant to which Tinka, through its wholly-owned subsidiary Darwin Peru S.A.C. (“Darwin”), has acquired a 100% interest in the Silvia copper-gold-zinc exploration project (the “Silvia Project”).
The Silvia Project consists of 29,500 hectares of mining concessions believed to be prospective for large copper-gold-zinc skarn and porphyry copper deposits, lying immediately adjacent to the Company’s 100%-owned Ayawilca zinc-silver project in central Peru. Tinka now controls over 46,000 hectares of contiguous mining concessions in central Peru, one of the world´s most prolific base metal belts
The Silvia Project lies ~80 km south and along strike of Antamina, one of the largest copper mines in Peru and the world’s biggest skarn deposit (beneficially owned by BHP Group 33.75%, Glencore 33.75%, Teck 22.5% and Mitsubishi 10%). The project also lies immediately to the north of the Raura zinc-silver-lead-copper mine (owned by Minsur).
Greenfield exploration by BHP at the Silvia Project has identified copper-gold-zinc mineralization in outcropping skarns at two broad target areas both associated with coincident geophysical anomalies.
Neither of these targets have been drill tested. Limestone belonging to the Jumasha Formation, the main host to the Antamina copper-zinc-silver skarn deposit, is widespread throughout the Silvia Project area
Tinka Resources – Key Highlights of the Silvia Copper-Gold Project
- Acquisition by Tinka of a 100% ownership of 29,500 hectares of contiguous mining concessions located in the Huanuco Andean region of central Peru immediately adjacent to the Company’s Ayawilca project;
- The Silvia Project hosts two priority copper targets with outcropping skarn and coincident copper and geophysical anomalies at ‘Silvia Northwest’ and ‘Silvia South’
Tinka Resources management comments
“The Silvia Project acquisition fits in very well with Tinka’s vision of exploring for potential world-class base and precious metal discoveries in Peru.
“Tinka considers the Silvia Project to be highly prospective for large copper skarn and porphyry deposits, and we are thrilled to have acquired this exciting portfolio from BHP right next door to our flagship Ayawilca project.
“This acquisition triples the size of Tinka’s mining concessions in central Peru, turning the Company into one of the largest landholders in this highly mineralized belt. The target limestone at the Silvia Project is the Jumasha Formation which hosts the giant Antamina skarn deposit, while the Ayawilca deposit is hosted by the Pucara limestone.
“Tinka plans to move forward with the exploration for copper at the Silvia Project while work progresses at the Ayawilca zinc-silver project and specifically the preliminary economic assessment (“PEA”).
Given the close proximity to Ayawilca, Tinka’s exploration team can access the copper targets at the Silvia Project from our existing camp facilities, simplifying logistics and minimizing exploration costs.
“Tinka remains firmly committed to creating value through mineral exploration in Peru, and we believe that mining will continue to be a mainstay of the country´s economy and development in the future.
“We also believe that we will continue to advance our exploration projects while working together constructively with our stakeholders. We look forward to commencing our field programs at the Silvia Project as soon as possible.”
Dr. Graham Carman, CEO of Tinka Resources
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