Mr Carter said: “The return to work permit is the final step in the permitting process for Ayawilca. The Company can now proceed with an expanded drill program to test the full 1.7 km length of the geophysical anomalies identified at Ayawilca.
At Colquipucro, we continue to be pleased with these results as they demonstrate the continuity of silver mineralization. The Company is currently applying for an amendment to the existing Colquipucro drill permit to test a contiguous area to the north-west of the resource and to also test a geophysical anomaly approximately 500 metres to the south. This anomaly is similar to that identified at Ayawilca and is also contiguous to it. ”
The holes intercepted fractured, oxidized sandstone and siltstone of the Gollyar group and progressed into the underlying sedimentary breccia, greywacke siltstone and limestone of the Oyon group. The southerly directed holes intercepted the high grade veins/faults/gossan zones within the sandstone roughly perpendicular to the dip of the hole, more or less intersecting their true thickness, while the vertical hole intercepted the high grade structures (where present) at a shallow angle up to 45 degrees, hence, the intercept would be wider than the true thickness. The fracture-controlled mineralization between the high grade structures is of a “stockwork” or “porphyry” nature with fractures trending in various directions, although sub-vertical east-west trending fractures are common; thus, a “true thickness” for this style of mineralization cannot be ascertained. The orientation of the mineralization within the underlying sedimentary breccia is not clear, however, narrow zones of intense oxidation suggest that the mineralized structures in the overlying sandstone may penetrate the underlying unit. Fluidal textured sulphides in the Oyon sediments are believed to be parallel to the overlying contact (unconformity) with the Gollyar group.
Table 1. Significant mineralized intervals using a 15 g/t Ag and 1% Zn cut-off, Colquipucro Project.
| Hole # | Easting (m) | Northing (m) | Elevation (m) | Azimuth (deg) | Dip (deg) | Depth (m) | From (m) | To (m) | Interval (m) | Ag (g/t) | Zn (%) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CDD-31 | 332630 | 8847976 | 4370 | 360 | -55 | 211.9 | 2 | 24 | 22 | 40.8 | — |
| 26 | 70.5 | 44.5 | 64.9 | — | |||||||
| 76 | 80 | 4 | 17.3 | — | |||||||
| 130 | 134 | 4 | 78.8 | — | |||||||
| CDD-32* | 332522 | 8847863 | 4292 | 360 | -55 | 185.6 | 56 | 60 | 4 | 33 | — |
| 62 | 64 | 2 | 66 | — | |||||||
| * | * | * | * | — | |||||||
| CDD-33* | 332740 | 8847936 | 4338 | 180 | -55 | 224.6 | 28 | 32 | 4 | 31.1 | — |
| 44 | 54 | 10 | 58.7 | — | |||||||
| 82 | 88 | 6 | 27.4 | — | |||||||
| 100 | 104 | 4 | 28.3 | — | |||||||
| 130 | 134 | 4 | 77.4 | — | |||||||
| * | * | * | * | — | |||||||
| CDD-34 | 332796 | 8847875 | 4366 | 180 | -62 | 242.6 | 30 | 34 | 4 | 36.2 | — |
| 38 | 42 | 4 | 71.4 | — | |||||||
| 74 | 78 | 4 | 22.2 | — | |||||||
| 80 | 82 | 2 | 99.7 | — | |||||||
| 84 | 105 | 21 | 76.4 | — | |||||||
| Void | — | ||||||||||
| 105.8 | 112.3 | 6.5 | 29.5 | — | |||||||
| 122 | 128 | 6 | 26.2 | — | |||||||
| 130 | 132 | 2 | 42.9 | — | |||||||
| 160 | 176 | 16 | 27.2 | — | |||||||
| 178 | 200 | 22 | 37 | — | |||||||
| Including | 178 | 188 | 10 | 33.7 | 1.38 | ||||||
| 210 | 220 | 10 | — | 2.19 | |||||||
| CDD-35 | 332580 | 8847870 | 4311 | 180 | -53 | 188.4 | 24 | 30 | 6 | 25 | |
| * | * | * | * |
At Ayawilca, hole A13-08 was drilled easterly from the same platform used to drill holes 52B (northerly), A13-05 (vertical), A13-06 (southerly) and A13-07 (westerly). All of these holes, except A13-07, intercepted significant zinc mineralization. A13-08 shows mineralization throughout the length of the hole, but the zones are generally narrower and lower grade than in the other holes in this western zone. Silver values are somewhat higher here than in other areas of Ayawilca; this may indicate metal zoning with precious metals occurring peripheral to the base metals.
Hole 13-09 (drilled southerly) was collared from the same site as holes A12-01 and A12-02, drilled northerly and vertically. The target was the western end of coincidental induced polarization and magnetic high anomalies trending a few hundred metres east-west. As with hole A13-08, the zinc results were sparse and lower grade than those found centered around hole A13-05 to the west. Silver values are somewhat elevated, like in hole A13-08 and also suggests that this area may be on the outer margins of a larger base metal target further to the east and south.
With the permit to continue exploration at Ayawilca, the Company will soon commence a systematic drill program, stepping out with drill platforms to the south, east and north of the currently drilled area.
Table 2. Significant mineralized intervals using 15 g/t Ag, 1% Pb and 1% Zn cut-offs, Ayawilca Project.
| Hole # | Easting (m) | Northing (m) | Elev (m) | Azimuth (deg) | Dip (deg) | Depth (m) | From (m) | To (m) | Interval (m) | Ag (g/t) | Pb (%) | Zn (%) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A13-08 | 332954 | 8846075 | 4252 | 90 | -70 | 350.6 | 152 | 164 | 12 | 51.4 | — | — |
| including | 158 | 160 | 2 | 125 | 1.20 | 1.84 | ||||||
| and | 156 | 160 | 4 | 86 | 0.00 | 2.76 | ||||||
| 174 | 178 | 4 | 176.5 | 2.62 | 1.41 | |||||||
| 198 | 206 | 8 | 45 | — | — | |||||||
| including | 202 | 206 | 4 | 53.7 | — | 1.46 | ||||||
| and | 204 | 206 | 2 | 61.5 | 1.23 | 1.84 | ||||||
| 242 | 256 | 14 | 32.2 | — | — | |||||||
| including | 244 | 256 | 12 | 33.1 | — | 2.35 | ||||||
| and | 248 | 254 | 6 | 42.8 | 1.62 | 3.05 | ||||||
| 314.7 | 320 | 5.3 | — | — | 4.39 | |||||||
| A13-09 | 333188 | 8846050 | 4210 | 180 | -60 | 347.8 | 119 | 120.6 | 1.6 | 172 | 2.86 | 20.00 |
| 160 | 166 | 6 | 18.8 | — | — | |||||||
| 174 | 188 | 14 | 45.1 | — | — | |||||||
| including | 178 | 186 | 8 | 63.8 | — | 1.71 | ||||||
| and | 178 | 182 | 4 | 59.1 | 1.49 | 1.51 | ||||||
| and | 184 | 186 | 2 | 99.4 | 3.06 | 2.74 | ||||||
| 258 | 262 | 4 | — | — | 2.60 | |||||||
| 322 | 326 | 4 | — | — | 2.58 | |||||||
| * | * | * | * | * | * |
The geometry of and controls to the mineralization are not yet fully understood, but a series of intersecting fault structures that underlie Ayawilca are believed to be the source conduits. The 3-D inversion anomalies follow these structures closely. The irregular nature of this replacement style mineralization hampers any meaningful interpretation of the strike, dip and true thickness of the zone(s), intercepted in these and previously reported holes, at this time.
All diamond drilling has been performed using HQ diameter drill rods, reducing to NQ diameter if required. All core has been logged and split on site under the supervision of Tinka geologists with sampling done on nominal two metre intervals. All the samples have been transported by Company staff to SGS Laboratories in Lima, Peru, for ICP analyses using multi-acid digestion. Analytical standards and blanks were routinely introduced in the sample suites sent to the laboratory, and samples that exceeded their respective threshold levels for Ag, Zn and Pb were re-assayed by specific atomic absorption techniques.
The qualified person for the Company’s projects, Mr. John Nebocat (P.Eng.), V.P. of Exploration for the Company, has reviewed and approved the contents of this news release.
About Tinka Resoruces Limited (TSXV:TK) (Frankfurt:TLD) (Pinksheets:TKRFF):
Tinka is a junior resource acquisition and exploration company. Tinka’s main focus is on its 100% owned Col-quipucro and Ayawilca projects located in the highly mineralized silver-lead-zinc belt of Central Peru.
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:
Michael D’Amico
Tel: 1.647.500.6023
Email: michaeldamico@rogers.com
Forward Looking Statements This Company news 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 available to the Company’s management as of the date of this news release. 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 including local communities and landholders, 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.
Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.