Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “Company”) (TSXV: TK) (OTCPK: TKRFF) is pleased to announce it has signed final access agreements with the communities that own surface rights over the Ayawilca Inferred Mineral Resource (18.8 million tonnes grading 8.2% Zinc Eq; news release of May 25, 2016) and much of the planned 2016-2017 resource expansion drilling area, at the Company’s 100% owned Ayawilca Property in central Peru. The agreements with the San Juan de Yanacocha and Huarautambo communities will allow the Company to file for the final permit required by the Peruvian government to initiate drilling activities, and for the Company to continue exploration up to the end of 2020.
Dr. Graham Carman, Tinka´s President and CEO, stated: “Reaching agreements with these two communities is a major milestone for Tinka and for the Ayawilca project. We are very pleased with this result - it is the culmination of many months of negotiations and hard work by our dedicated community relations team. By expanding the area and term of the Yanacocha agreement, and by signing the first agreement with the community of Huarautambo, Tinka will be in a position to initiate resource expansion drilling over our high priority zinc targets at West and South Ayawilca, once final Ministry permits are received. We expect those permits to be issued in the next few weeks, with drilling expected to commence by early November 2016.”
“We wish to thank the communities of San Juan de Yanacocha and Huarautambo for their constructive engagement and for partnering with Tinka to improve living conditions in their communities through sensible mineral exploration and sustainable development. This process has helped to strengthen Tinka´s cooperation with our neighbours and marks the beginning of a new period of collaboration.”
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 an exploration and development company with projects in Peru. Tinka’s focus is on its 100%-owned Ayawilca Property in the highly mineralized zinc-lead-silver belt of central Peru, 200 kilometres north of Lima and 40 kilometres from Peru’s largest historic zinc mine at Cerro de Pasco. Ayawilca has two separate Inferred Mineral Resource Zones of 18.8 Mt at 8.2% Zinc Eq, and 5.4 Mt at 0.89% Tin Eq, both open for expansion (news release of May 25, 2016). The Colquipucro silver deposit, located 2km north of the Ayawilca Zinc Zone, has Indicated Mineral Resources of 2.9 Mt at 112g/t Ag for 10.4 Moz Ag and Inferred Mineral Resources of 2.2 Mt at 105g/t Ag for 7.5 Moz Ag contained in ‘higher-grade lenses’ within a larger lower-grade resource envelope (news release of Feb’ 26, 2015).
On behalf of the Board,
Dr. Graham Carman, President & CEO
Rob Bruggeman 1.416.884.3556
Mariana Bermudez, 1.604.699.0202
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 commencement of drill programs, the Company’s expectations regarding mineral resource calculations, 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 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.