Re-assays of zinc intercepts for indium include 212.9 metres at 5.3 % zinc & 83 g/t indium in A13-05, including 10.0 metres at 12.9 % zinc & 670 g/t indiumVancouver, Canada — Tinka Resources Limited (“Tinka” or the “Company”) (TSXV: TK) (OTCPK: TKRFF) is pleased to announce results of a re-assay program for indium of all significant zinc drill intersections from the Ayawilca project, Peru. These results confirm that high levels of indium occur with the zinc mineralization, particularly in the deeper intersections. Indium has the potential to be an important and valuable addition to the zinc mineralization at Ayawilca, with a current market price similar to silver, at around US$17 per ounce of indium (US$0.55 per gram). Zinc is currently trading at US$2,047 per tonne on the London Metal Exchange.
Key Ayawilca zinc-indium drill intersections include:
- A13-05: 212.9 metres at 5.3 % zinc & 83 grams per tonne (g/t) indium from 130.3 metres depth, including 16.0 metres at 18.1 % zinc & 120 g/t indium from 150.0 metres depth, and10.0 metres at 12.9 % zinc & 670 g/t indium from 316.0 metres depth;
- A14-22: 32.8 metres at 7.4 % zinc & 66 g/t indium from 211.2 metres depth, including 5.8 metres at 16.8 % zinc & 170 g/t indium from 228.0 metres depth, and 31.0 metres at 6.3% zinc & 101 g/t indium from 283.5 metres depth;
- A12-08: 36.5 metres at 6.5 % zinc & 63 g/t indium from 162.0 metres depth, and 38.0 metres at 4.6 % zinc & 117 g/t indium from 266.0 metres depth;
- A12-04A: 20.0 metres at 7.1 % zinc & 127 g/t indium from 260.0 metres depth, including 12.0 metres at 10.5 % zinc & 200 g/t indium from 266.0 metres depth.
The indium results for all significant zinc drill intercepts (see press release February 10, 2015), together with the zinc results previously released, are provided in Table 1.Dr. Graham Carman, Tinka’s President and CEO, stated: “These high concentrations of indium, occurring with the zinc mineralization at Ayawilca, could add an important credit to the zinc, along with silver.”
“Indium is a specialty metal used in the high-technology industry, with a current market value similar to silver. Indium has three almost unique properties: like all metals it conducts electricity, but it is also transparent in its oxide form, and reflects heat. Indium-tin oxide (ITO) is the dominant use of indium in thin-film technology. ITO is extensively used in flat panel displays and liquid crystal displays (LCDs), in mobile phones, laptops, monitors, televisions, and digital cameras. Indium metal is also very soft, and is used in specialized soldering and fusing applications. It is also malleable and ductile at cold conditions.”
“Almost the entire production of indium in the world comes from the processing and smelting of zinc residues. Countries with major refinery production include China, South Korea, Japan, Canada, Belgium and Peru. The main customers of indium are industrial countries with high-technology production locations. Japan is the largest consumer of primary indium accounting for about a third of global consumption.*”
* Reference: Schwarz-Schampera, Ulrich, and Herzig, Peter M., 2002, Indium: Geology, Mineralogy, and Economics. Springer-Verlag.
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 resource acquisition and exploration company with projects in Peru. Tinka’s focus is on its 100%-owned Ayawilca and Colquipucro projects in the highly mineralized zinc-lead-silver belt of central Peru, 200 kilometres north of Lima. The Ayawilca project, located 40 kilometres from Peru’s largest historic zinc mine, Cerro de Pasco, has the potential to be a major zinc sulphide discovery. The nearby Colquipucro silver oxide project is a near-surface, sand-stone-hosted, silver oxide deposit with a current inferred resource containing 32 million ounces silver with potential for expansion.
On behalf of the Board,
Dr. Graham Carman, President & CEO
1305 — 1090 West Georgia St., Vancouver, BC, V6E 3V7
Seema Sindwani +1 647-478-3017
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.
Notes to Table 1:
Down-hole zinc intersections were calculated using a 1% zinc cut-off grade over 6 metre intervals. All zinc results, including drill hole collar information, were released on February 10, 2015. True widths of the intercepts in Table 1 are believed to be at least 75% of the down-hole widths, as the mineralization is interpreted to be generally gently dipping. Drill holes are diamond core holes with recoveries generally at or close to 100%. The drill core is marked up, logged, and photographed on site. The cores are cut in half at the Company’s core storage facility, with half-cores stored as a future reference. Half-core is bagged on average over 2 metre composite intervals, and sent to SGS labora-tory in Lima for assay in batches. Standards and blanks were inserted into each batch prior to departure from the Company’s core storage facilities. At the laboratory samples are dried, crushed to 100% passing 2mm, then 500 grams pulverized for multi-element analysis by ICP (AES or MS) using multi-acid digestion. Samples assaying over 1% zinc, lead, or copper were re-assayed using precise ore-grade AAS techniques. Samples which assayed approximately 200 ppm tin or greater in the ICP analysis were re-assayed for tin by fusion with sodium peroxide and AAS finish (SGS laboratory method SGS-MN-ME-112). Re-assays for indium were achieved by analysis of archived sample pulps, us-ing ICP-MS with a multi-acid digestion. Over-limits for indium (> 500 g/t In) were re-assayed using 4 acid digestion with AAS finish (SGS method AAS41B).
Table 1. Summary of Significant Zinc (Indium) Drill Results at Ayawilca (NEW indium results highlighted)
|and||266.00||304.00||38.00||4.61||0.02||7||0.03||117||No recovery 304-314.1 m|
|DD52B||272.00||288.00||16.00||6.00||0.12||8||0.01||54||West. Includes 2m no recovery|
|A14-25||228.00||249.50||21.50||1.85||0.28||10||0.01||NA||West. No recovery 249.5-251.3 m|
Additional Notes to Table 1:
Zn = zinc. Pb = lead. Ag = silver. Cu = copper. Sn = tin. In = indium.
NA = No Assays available
Down-hole intersections in Table 1 were calculated using a 1% zinc cut-off grade over 6 metre intervals.
The above zinc drill intercepts, including drill hole collar information, were released on February 10, 2015.
Zones of no recovery are due to highly broken or fault zones.