Come on baby light my fire. TK NEWS!
2005-03-16 12:55 ET - News Release
Mr. Andrew Carter reports
EXPLORATION PROGRAM COMMENCES AT DEMETRIO, PERU
Tinka Resources Ltd. has mobilized a field crew to its 5,000-hectare Demetrio project in Peru. The property is located between the departments of La Libertad and Cajamarca, within the Pataz mining district, 26 kilometres northwest of the Poderosa gold mine (100,000 ounces annual production) and 510 kilometres north of Lima.
In 1996, reconaissance exploration in the vicinity of the Demetrio project by a private Peruvian company located four gold mineralized areas with artesinal workings across an area of nine kilometres by five kilometres. Thirty-six unconfirmed grab samples from these mineralized zones returned grades which ranged between 1.3 grams per tonne Au and seven grams per tonne Au. Gold mineralization is developed within altered, pyritic and gossanous intervals within sandstone and quartzite of the Chimu formation and Maranon group, at altitudes ranging from 1,200 metres to 3,400 metres. Prospects identified to date include:
the Carbunco zone, where mineralization is hosted within sandstone and quarzite of the Chimu formation, with results including 2.8 grams per tonne Au and 4.3 grams per tonne Au;
the Pucara zone, where mineralization is hosted within sandstone and quartzite of the Chimu formation with results including 5.9 grams per tonne Au and 3.8 grams per tonne Au;
the Fundo al Alumbre and Chucuambo zones, where mineralization is hosted within sediments of the Maranon group, with results including 1.3 grams per tonne Au, 4.6 grams per tonne Au, 1.4 grams per tonne Au and 6.8 grams per tonne Au; and
the San Martin zone, where mineralization is hosted by both the Chimu formation and Maranon group, with results including 1.3 grams per tonne Au, 3.4 grams per tonne Au and 2.3 grams per tonne Au.
The Demetrio project lies along a structural trend at the northern end of the Pataz mining district, home to several operating, high-grade gold mines, including the substantial Poderosa, Horizonte and Retamas operations. Although these results are yet to be validated, the company is encouraged by the indications of sediment-hosted gold over such a large area in this highly prospective terrain.
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