Vancouver, Canada - Tinka Resources Limited (the “Company”), (TSXV - TK; Frankfurt - TLD; Pinksheets -TKRFF), announces the results from the first drill hole testing the northern extension of Zone 1 on the Company’s wholly-owned Colquipucro silver-zinc-lead property, west-central Peru. The hole was drilled on the easternmost line of the known resource and 57 metres to the north of hole CDD9, drilled in the phase 1 program.
Hole16 intercepted banded, “zebra-stripe” sandstone and progressed into the underlying siltstone breccia and fluidized sulphide unit. This unit is generally quite thin or nonexistent, but it marks the transition between the underlying Pucura limestone and the overlying Goyllar sandstone unit that hosts the bulk of the silver mineralization at Zone 1. The hole intercepted the high grade veins/faults/gossan zones within the sandstone roughly perpendicular to the dip of the hole, while the intervening fracture-controlled mineralization in the sandstone was intercepted at about 45 degrees to the inclination of the drill hole, on average. The orientation of the mineralization within the transitional siltstone breccia is not clear, but it may be parallel to the unconformity it represents between the limestone and sandstone units. The mineralization in hole CDD16 remains open at depth.
The price of silver in January 2008, when the Zone 1 resource was estimated, was about one-half of the current price. Mineralized intervals, using a 15 g/t Ag cut-off, and significant lead and zinc results where the Ag values fall below the cut- off level are shown below:
Hole # | Easting (m) | Northing (m) | Elevation (m) | From (m) | To (m) | Azimuth (deg) | Dip (deg) | Interval (m) | Ag(g/t) | Lead(%) | Zinc(%) |
CDD16 | 332979 | 8846188 | 4263 | 42 | 44 | 180 | -50 | 2 | 5.5 | 2.05* | Trace |
48 | 50 | 2 | 8.7 | 3.11* | Trace | ||||||
50 | 56 | 6 | 18.3 | 0.21 | Trace | ||||||
58 | 68 | 10 | 53.7 | 1.58 | 0.16 | ||||||
70 | 72 | 2 | 1.4 | Trace | 1.21* | ||||||
76 | 80 | 4 | 7.4 | Trace | 1.18* | ||||||
85 | 86 | 1 | 44.5 | 0.27 | 0.17 | ||||||
88 | 94 | 6 | 194.3 | 0.63 | 0.27 | ||||||
including | 88 | 92 | 4 | 248 | 0.65 | 0.33 | |||||
96 | 98 | 2 | 36.9 | 1.32 | Trace | ||||||
118 | 122 | 4 | 30.3 | 0.24 | 0.53 | ||||||
124 | 127.8 | 3.8 | 27.7 | 0.26 | 0.67 | ||||||
132 | 133.4 | 1.4 | 26.1 | 0.15 | 1.38 | ||||||
134.1 | 146 | 11.9 | 33.6 | 0.25 | 1.24 | ||||||
150 | 154 | 4 | 43.2 | 0.11 | 0.88 | ||||||
154 | 156 | 2 | 4.30 | Trace | 1.88* | ||||||
160 | 164 | 4 | Trace | Trace | 1.21* | ||||||
166 | 170 | 4** | 31 | 0.50 | 0.34 | ||||||
186 | 194.70 | 8.70 | 26.8 | 0.11 | 0.65 |
* base metal values below the 15 g/t Ag cut-off level.
** 0.6 m open working between samples assigned zero values.
Mr Carter said: “These results are extremely positive as they confirm that the resource continues north and that the mineralization is open at depth. Silver values below the 15 g/t cut-off value are widespread between the intervals reported above. The drill rig has recommenced drilling further north of CDD16 and is testing the contact between the sandstone and limestone units. Drilling has also recommenced at the Ayawilca zone”.
The Company’s Qualified Person, John Nebocat (P.Eng.), has reviewed and approved the contents of this news release.
On behalf of the Board,
“Andrew Carter”
Andrew Carter, President & CEO Company Contact:
Mariana Bermudez at (604) 699 0202 or email: mbermudez@chasemgt.com
website: www.tinkaresources.com
Investor Information Contact:
Bay Street Connect, Michael D’Amico
Tel: 1.647.500.6023
Email: michael@baystreetconnect.com
Forward Looking Statements This Company Press Release contains certain “forward-looking” statements and information relating to the Company that are based on the beliefs of the Company’s management as well as assumptions made by and information currently available to the Company’s management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. 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.
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