Tinka Drills 145 Metres at 10.9% Zinc Including 29 Metres at 20% Zinc at Ayawilca
Tinka Resources Limited (TSXV:TK)(OTCQB:TKRFF) has announced results from six drill holes at its Ayawilca project in Peru, showing promising intersections of high-grade zinc. Hole A23-212 revealed a remarkable 145.2 metres grading 10.9% zinc, with sections exceeding 20% zinc. The company's ongoing drill program aims to expand resource estimates, with about 10,000 metres drilled so far and more to come until April. Dr. Graham Carman, President and CEO, emphasizes the continuity of high-grade mineralization, crucial for future mining plans. This positive development positions Tinka favorably as it advances towards potential project development.
- Hole A23-212 returned 145.2 metres grading 10.9% zinc, including 29.3 metres at 20.2% zinc.
- Drilling results indicate excellent continuity of high-grade zinc mineralization at South Ayawilca.
- Ongoing drilling program planned to continue until the end of April, with 10,000 metres already completed.
- Discovery of a potentially significant ultra high-grade zinc zone expected to be accessed early in the mine plan.
- Hole A22-201 did not intersect significant mineralization, suggesting possible limitations in mineralization extension.
VANCOUVER, BC / ACCESSWIRE / March 6, 2023 / Tinka Resources Limited ("Tinka" or the "Company") (TSXV:TK)(BVL:TK)(OTCQB:TKRFF) is pleased to announce results for six recent drill holes from the Company's ongoing infill and resource expansion drill program at the Ayawilca project in Peru. All six drill holes are infill holes from the South Ayawilca area. Hole A23-212 returned much better than expected results with a thick and high-grade zinc intersection of 145.2 metres grading
Key highlights of recent South Ayawilca drill holes
- Hole A23-212:
- 145.2 metres at
10.9% zinc from 158.2 metres depth, including:- 29.3 metres at
20.2% zinc from 158.2 metres depth, and - 10.6 metres at
14.9% zinc from 200.8 metres depth, and - 9.8 metres at
15.1% zinc from 239.1 metres depth, and - 3.6 metres at
35.0% zinc from 262.6 metres depth, and - 25.8 metres at
13.1% zinc from 277.6 metres depth.
- 29.3 metres at
- The wide interval includes 4.4 metres of no recovery assumed zero grade in three separate zones.
- 145.2 metres at
- Hole A22-208:
- 4.6 metres at
32.4% zinc from 105.2 metres depth; and - 9.9 metres at
9.7% zinc from 142.1 metres depth; and - 71.2 metres at
8.8% zinc from 168.8 metres depth, including:- 37.7 metres at
12.8% zinc from 194.0 metres depth, including- 2.7 metres at
45.2% zinc from 188.0 metres depth, and
- 2.7 metres at
- 20.0 metres at
16.9% zinc from 211.9 metres depth; and
- 37.7 metres at
- 1.7 metres at
36.3% zinc from 265.9 metres depth.
- 4.6 metres at
- Hole A22-206:
- 37.8 metres at
10.5% zinc from 153.5 metres depth, including:- 23.4 metres at
15.2% zinc from 168.0 metres depth; and
- 23.4 metres at
- 2.7 metres at
45.2% zinc from 188.0 metres depth and 1.7 metres at15.9% zinc from 200.3 metres.
- 37.8 metres at
- Hole A23-215:
- 5.2 metres at
11.2% zinc from 144.4 metres depth; and - 4.1 metres at
33.6% zinc from 190.0 metres depth; and - 30.1 metres at
8.6% zinc from 263.4 metres depth, including- 5.6 metres at
21.3% zinc from 264.5 metres depth.
- 5.6 metres at
- 5.2 metres at
- Hole A22-210: 2.7 metres at
16.2% zinc from 85.6 metres depth. - Hole A22-201: An extension of hole A17-066 (extended by 59 m) did not intersect significant mineralization.
- A total of 10,000 metres have now been drilled for 30 drill holes in the 2022-23 drill program with a further 1,000 metres (approximately) to be completed. Seven holes have results pending.
True thicknesses of the mineralized intercepts are estimated to be at least
Dr. Graham Carman, Tinka's President and CEO, stated: "Hole A23-212 is without doubt Tinka's best ever hole at Ayawilca in terms of thickness and grade of the zinc mineralization - the hole intercepted a continuous zone of massive sulphide mineralization grading
"Importantly, exploration opportunities still exist to expand this ultra high-grade mineralization. The drill program will continue until April with at least two more holes to be drilled at South Ayawilca. Several additional holes remain to be reported including five holes from West Ayawilca. Next steps for the project, following completion of the drill program, include an update of the mineral resource estimations and the evaluation of alternatives to fast track Ayawilca towards development."
Discussion of the geology
Table 1 summarises the highlighted drill intercepts for the six drill holes from South Ayawilca in this news release. The Company has now completed approximately 10,000 metres of drilling in 30 holes in the 2022-2023 resource definition-expansion program (see Table 2). A total of 23 holes have now been reported (see also previous releases Oct 11 2022 , Nov 21 2022 , Jan 9 2023 and Jan 24 2023. Table 2 summarises the complete list of holes drilled in the 2022-23 drill program. A drill hole map is presented in Figure 1.
This news release includes five holes drilled in a fan pattern from the same platform (holes A22-206, 208, 210, A23-212 and 215) targeting the core of an overturned fold ‘anticline' covering approximately 200 metres of strike length (north-south). An impermeable quartz sandstone, a unit of the local Goyllar formation, forms the footwall to the massive sulphide zone which has replaced the favourable Pucara limestone in the core of the anticline with substantial quantities of zinc. The sandstone is folded around the Pucara limestone forming an efficient trap which has concentrated the zinc mineralization in the hinge of the fold and along the contacts with the sandstone. High-grade zinc is associated with semi-massive sulphide (30
An interpretation of the zinc mineralization in the recent drill holes is highlighted in Figure 2. The massive sulphide body dips at a moderate angle to the east. A major northeast-southwest trending fault located at the northern edge of the sulphide body truncates the mineralization to the north. This "060 Fault" (shown in Figure 2) could also be an important conduit for the mineralization at Ayawilca.
Figure 3 is an example of the ultra high-grade zinc cores from A23-212.
The final hole reported in this news release, A22-201, is a deepened exploration hole from 2017 (A17-077) to 430 m depth, targeting the possible extension of high-grade zinc mineralization intersected in nearby hole A22-195 (6m at
Table 1. Summary of drill hole results in this release from South Ayawilca
Hole | From (m) | To (m) | Interval (m) | Zinc % | Lead % | Silver g/t | Indium ppm | Notes |
A22-201 | no significant results | Extension of hole A17-066 | ||||||
A22-206 | 153.55 | 191.35 | 37.80 | 10.54 | 0.06 | 17 | 181 | |
incl | 168.00 | 191.35 | 23.35 | 15.23 | 0.07 | 22 | 284 | |
incl | 188.00 | 190.65 | 2.65 | 45.21 | 0.14 | 76 | 1730 | |
and | 200.30 | 202.00 | 1.70 | 15.92 | 0.02 | 9 | 187 | |
A22-208 | 105.20 | 109.75 | 4.55 | 32.39 | 0.04 | 32 | 354 | |
and | 125.40 | 127.25 | 1.85 | 17.33 | 0.04 | 15 | 87 | |
and | 142.15 | 152.00 | 9.85 | 9.74 | 0.19 | 20 | 97 | |
and | 168.80 | 240.00 | 71.20 | 8.75 | 0.51 | 33 | 55 | |
incl | 194.00 | 231.65 | 37.65 | 12.76 | 0.75 | 44 | 89 | |
incl | 211.70 | 231.65 | 19.95 | 16.92 | 0.01 | 6 | 87 | |
and | 265.90 | 267.55 | 1.65 | 36.30 | 0.15 | 88 | 2940 | |
A22-210 | 85.60 | 88.30 | 2.70 | 16.22 | 0.39 | 92 | 216 | |
and | 157.20 | 164.20 | 7.00 | 4.39 | 0.45 | 79 | 4 | |
A23-212 | 124.30 | 126.10 | 1.80 | 32.74 | 0.02 | 21 | 58 | |
and | 158.20 | 303.40 | 145.20 | 10.86 | 0.19 | 31 | 229 | 1 |
incl | 158.20 | 187.45 | 29.25 | 20.17 | 0.04 | 21 | 418 | |
incl | 200.80 | 211.40 | 10.60 | 14.87 | 0.20 | 48 | 426 | 2 |
incl | 239.10 | 248.85 | 9.75 | 15.14 | 0.04 | 19 | 244 | |
incl | 262.60 | 266.20 | 3.60 | 34.96 | 0.07 | 50 | 868 | |
incl | 277.60 | 303.40 | 25.80 | 13.06 | 0.61 | 86 | 312 | 3 |
A23-215 | 144.35 | 149.50 | 5.15 | 11.24 | 0.01 | 22 | 247 | |
incl | 144.35 | 145.45 | 1.10 | 31.46 | 0.03 | 32 | 811 | |
and | 190.00 | 194.10 | 4.10 | 33.59 | 0.19 | 72 | 1263 | |
incl | 190.70 | 192.80 | 2.10 | 42.82 | 0.34 | 118 | 1629 | |
and | 263.40 | 293.50 | 30.10 | 8.61 | 0.14 | 38 | 91 | |
incl | 264.50 | 270.10 | 5.60 | 21.34 | 0.06 | 36 | 451 | |
incl | 283.10 | 292.60 | 9.50 | 12.78 | 0.29 | 58 | 9 |
1 | includes 4.4 m of no recovery assumed zero grade |
2 | includes 0.8 m of no recovery assumed zero grade |
3 | includes 3.6 m of no recovery assumed zero grade |
Figure 1. Drill hole map of Ayawilca highlighting drill holes released here in RED
Figure 2.
Figure 3. An example of high-grade zinc mineralization in hole A23-212. The interval 205.5 - 208.5 metres has an average grade of
Note on sampling and assaying
Drill holes are diamond HQ size core holes with recoveries generally above
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.
Readers are encouraged to read the NI 43-101 Technical Report entitled "Ayawilca Polymetallic Project, Central Peru, NI 43-101 Technical Report on Updated Preliminary Economic Assessment" available for download on Tinka's website at www.tinkaresources.com. The Technical Report was prepared by Mining Plus Peru S.A.C. ("Mining Plus") as principal consultant, Transmin Metallurgical Consultants ("Transmin"), Envis E.I.R.L ("Envis"), and SLR Consulting (Canada) Ltd ("SLR").
Table 2. Drill hole details for 2022-2023 drill program including drill collar coordinate information
Drill hole | Easting | Northing | Elevation | Azimuth | Dip | Depth | Area | Comment |
A22-190 | 333281 | 8845755 | 4167 | 180 | -50 | 498.95 | Central | Results reported |
A22-191 | 333169 | 8845799 | 4182 | 180 | -55 | 478.80 | Central | Results reported |
A22-192 | 333345 | 8845195 | 4208 | 232 | -74 | 385.90 | South | Results reported |
A22-193 | 332766 | 8845659 | 4237 | 68 | -65 | 365.40 | West | Results reported |
A22-194 | 333143 | 8845231 | 4226 | 135 | -73 | 380.20 | South | Results reported |
A22-195 | 333149 | 8845353 | 4221 | 148 | -65 | 426.90 | South | Results reported |
A22-196 | 333035 | 8845307 | 4235 | 174 | -45 | 382.10 | South | Results reported |
A22-197 | 332912 | 8845693 | 4220 | 264 | -55 | 412.60 | West | Results reported |
A22-198 | 332900 | 8845768 | 4222 | 265 | -53 | 451.10 | West | Results reported |
A22-199 | 333046 | 8845067 | 4195 | 303 | -66 | 344.10 | South | Results reported |
A22-200 | 332821 | 8845889 | 4246 | 260 | -58 | 352.00 | West | Results reported |
A22-201 | 333342 | 8845195 | 4208 | 310 | -73 | 58.90 | South | Results HERE |
A22-202 | 333046 | 8845066 | 4197 | 283 | -52 | 270.15 | South | Results reported |
A22-203 | 332839 | 8845685 | 4228 | 264 | -60 | 350.00 | West | Results reported |
A22-204 | 333090 | 8845061 | 4196 | 307 | -60 | 334.30 | South | Results reported |
A22-205 | 332839 | 8845685 | 4227 | 244 | -72 | 352.70 | West | Results reported |
A22-206 | 333044 | 8845064 | 4197 | 270 | -58 | 217.30 | South | Results HERE |
A22-207 | 332710 | 8845883 | 4252 | 254 | -74 | 332.00 | West | Results reported |
A22-208 | 333044 | 8845064 | 4197 | 270 | -70 | 282.55 | South | Results HERE |
A22-209 | 332738 | 8845927 | 4251 | 257 | -68 | 314.15 | West | Results reported |
A22-210 | 333047 | 8845065 | 4197 | 297 | -48 | 259.80 | South | Results HERE |
A22-211 | 332785 | 8845707 | 4236 | 260 | -75 | 295.00 | West | Results pending |
A23-212 | 333047 | 8845065 | 4197 | 228 | -79 | 324.30 | South | Results HERE |
A23-213 | 332853 | 8845650 | 4225 | 258 | -65 | 316.00 | West | Results pending |
A23-214 | 332710 | 8845883 | 4252 | 255 | -67 | 287.10 | West | Results pending |
A23-215 | 333047 | 8845065 | 4197 | 180 | -80 | 295.10 | South | Results HERE |
A23-216 | 332710 | 8845883 | 4252 | 220 | -73 | 310.00 | West | Results pending |
A23-217 | 332853 | 8845650 | 4225 | 240 | -78 | 300.00 | West | Results pending |
A23-218 | 333109 | 8845020 | 4190 | 330 | -75 | 323.70 | South | Results pending |
A23-219 | 333219 | 8845582 | 4182 | 180 | -85 | 336.80 | Central | Results pending |
TOTAL | 10037.90 |
Notes: Datum for coordinates is WGS84 Zone 18S. Azimuth is true azimuth
On behalf of the Board,
"Graham Carman"
Dr. Graham Carman, President & CEO
Further Information:
www.tinkaresources.com
Mariana Bermudez 1.604.685.9316
info@tinkaresources.com
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About Tinka Resources Limited
Tinka is an exploration and development company with its flagship property being the
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: timing of planned work programs and results varying from expectations; delay in obtaining results; 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 and operating performance; environmental and safety risks; the Company's expectations regarding the Ayawilca Project PEA; the political environment in which the Company operates continuing to support the development and operation of mining projects; risks related to negative publicity with respect to the Company or the mining industry in general; the threat associated with outbreaks of viruses and infectious diseases, including the novel COVID-19 virus; delays in obtaining or failure to obtain necessary permits and approvals from local authorities; community agreements and 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
SOURCE: Tinka Resources Ltd.
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