Tinka Resources (TK-V) May 3rd 2017 is pleased to announce results from four new drill holes at its 100%-owned Ayawilca zinc project in central Peru. Three holes were drilled into the new discovery area at South Ayawilca, with one drilled at West Ayawilca. These new results confirm high grade zinc mineralization at South Ayawilca is associated with gently dipping massive to semi-massive sulphide replacements of carbonate and clastic sediments. Hole A17-061 is approximately 80 metres off-section from holes A17-056 and A17-057 (April 3, 2017, TK press release). Zinc mineralization is all sulphide (sphalerite, marmatite) accompanied by minor galena and iron sulphides. We have now released results for six of the planned 25 to 30 holes in the 2017 drill program. Three drill rigs are currently turning at South Ayawilca, with an additional rig to be mobilized to test the Zone 3 area shortly.
Key Highlights:
Hole A17-061 (South Ayawilca):
18.6 metres at 10.4 % zinc & 52 g/t silver from 184.0 metres depth (includes 3.1 metres no recovery assigned a zero grade), including: 2.6 metres at 23.6 % zinc, 2.4 % lead & 192 g/t silver from 196.2.0 metres depth; and13.4 metres at 18.7 % zinc, 57 g/t silver & 463 g/t indium from 220.0 metres depth, including: 7.9 metres at 29.3 % zinc, 71 g/t silver & 719 g/t indium from 224.1 metres depth; and1.8 metres at 37.0 % zinc, 85 g/t silver & 808 g/t indium from 265.0 metres depth. Hole A17-060 (South Ayawilca):
4.5 metres at 15.0 % zinc, 20 g/t silver & 383 g/t indium from 275.0 metres depth; and30.5 metres at 3.4% zinc & 10 g/t silver from 298.0 metres depth, including: 8.6 metres at 5.1 % zinc & 11 g/t silver from 303.4 metres depth. Hole A17-056A (continuation of A17-056):
4.1 metres at 18.6 % zinc, 27 g/t silver & 224 g/t indium from 309.0 metres depth, including: 2.6 metres at 27.3 % zinc, 38 g/t silver & 336 g/t indium from 310.5 metres depth. Hole A17-058 (West Ayawilca):
4.2 metres at 20.2 % zinc, 4.2 % lead & 329 g/t silver from 103.5 metres depth (vein);Abandoned at 301 metres prior to target depth. Dr. Graham Carman, Tinka´s President and CEO, stated: “This set of drill results continues to show significant thicknesses of high grade zinc mineralization at South Ayawilca, as we step out from the recent discovery holes. The zinc bodies dip gently to the south, with the thicker zones of mineralization lying between two interpreted west-dipping northeast-trending faults approximately 250 metres apart, appearing to thicken towards the north. These structures were likely important conduits for the zinc mineralization. The mineralization at South Ayawilca remains open along strike in both directions (see Figures 1 & 2). At West Ayawilca, additional holes are required to fully test the extensions with more holes planned.”
Dr. Carman continued, “Drilling continues with three rigs at South Ayawilca, focusing on expanding the new zinc discovery to the northeast towards the Central Ayawilca resource, and to provide confidence of continuity of mineralization. While our resource expansion drilling continues at Ayawilca, we are also looking forward to commencing the drilling at Zone 3.”
True thicknesses of the zinc intersections are estimated to be at least 85% of the downhole thickness, except where otherwise noted in Table 1. All significant results of the 2017 program are summarized in Table 1 with the strongest zinc intercepts in bold text.
Table 1. Summary of 2017 Drill Results
Drill holeFrom mTo mInterval mZn%Pb%Agg/tIndium g/tReported | A17-056 1 | 90.30 | 90.65 | 0.35 | 29.0 | 0.4 | 82 | 443 | April 3 ‘17 | | And | 113.00 | 113.40 | 0.40 | 31.2 | 0.0 | 85 | 759 | April 3 ‘17 | | And | 126.00 | 189.90 | 63.90 | 5.6 | 0.1 | 17 | 29 | March 6 ‘17 | | Including | 127.50 | 145.40 | 17.90 | 11.6 | 0.2 | 36 | 20 | March 6 ‘17 | | Including | 127.50 | 133.30 | 5.80 | 22.5 | 0.3 | 77 | 50 | March 6 ‘17 | | And | 199.20 | 204.70 | 5.50 | 5.8 | 0.1 | 6 | 38 | April 3 ‘17 | | And | 228.50 | 233.70 | 5.20 | 12.9 | 0.0 | 11 | 162 | March 6 ‘17 | | And | 242.00 | 293.90 | 51.90 | 10.1 | 0.1 | 624 | 233 | April 3 ‘17 | | Including | 279.00 | 293.90 | 14.90 | 20.6 | 0.2 | 1524 | 441 | April 3 ‘17 | | Including | 279.00 | 285.40 | 6.40 | 37.5 | 0.4 | 301 | 916 | April 3 ‘17 | | A17-056A | 286.50 | 296.00 | 9.50 | 9.3 | 0.3 | 19 | 88 | here | | And | 309.00 | 313.10 | 4.10 | 18.6 | 0.1 | 27 | 224 | here | | Including | 310.50 | 313.10 | 2.60 | 27.3 | 0.1 | 38 | 336 | here | | A17-057 | 84.90 | 86.35 | 1.45 | 24.8 | 0.0 | 62 | 157 | April 3 ‘17 | | And | 143.70 | 144.50 | 0.80 | 40.4 | 0.1 | 138 | 261 | April 3 ‘17 | | And | 157.60 | 197.70 | 40.10 | 9.1 | 0.2 | 22 | 168 | April 3 ‘17 | | Including | 168.20 | 177.80 | 9.60 | 16.8 | 0.1 | 22 | 299 | April 3 ‘17 | | And | 227.15 | 234.90 | 7.75 | 3.5 | 0.2 | 21 | 85 | April 3 ‘17 | | And | 264.00 | 279.30 | 15.30 | 20.0 | 2.5 | 102 | 263 | April 3 ‘17 | | including | 265.75 | 269.00 | 3.25 | 34.5 | 2.1 | 96 | 196 | April 3 ‘17 | | including | 272.50 | 277.70 | 5.20 | 32.5 | 1.3 | 69 | 639 | April 3 ‘17 | | A17-058 | 103.50 | 107.70 | 4.205 | 20.2 | 4.2 | 3294 | 15 | here | | and | 133.25 | 134.35 | 1.105 | 30.3 | 3.2 | 500 | 61 | here |
| Hole did not reach target, lost at 301 metres depth in sandstone |
| | A17-059 | results awaited |
| | A17-060 | 262.40 | 264.40 | 2.00 | 14.8 | 0.0 | 35 | 1178 | here | | and | 275.00 | 279.50 | 4.50 | 15.0 | 0.0 | 20 | 383 | here | | and | 298.00 | 328.50 | 30.52 | 3.4 | 0.2 | 10 | 38 | here | | including | 303.40 | 312.00 | 8.60 | 5.1 | 0.1 | 11 | 6 | here | | A17-061 | 122.70 | 150.50 | 27.80 | 4.4 | 0.1 | 18 | 24 | here | | including | 145.70 | 147.50 | 1.805 | 27.2 | 0.0 | 32 | 157 | here | | and | 184.00 | 202.60 | 18.63 | 10.4 | 0.5 | 52 | 59 | here | | including | 196.20 | 198.80 | 2.60 | 23.6 | 2.4 | 192 | 19 | here | | including | 201.90 | 202.60 | 0.70 | 28.7 | 3.6 | 202 | 41 | here | | and | 220.00 | 233.40 | 13.40 | 18.7 | 0.9 | 57 | 463 | here | | including | 224.10 | 230.00 | 7.90 | 29.3 | 0.8 | 71 | 719 | here | | and | 265.00 | 266.80 | 1.80 | 37.0 | 0.2 | 85 | 808 | here | | 1 hole lost at 293.9 metres; wedged and completed as A17-056A to 376 metres depth 2 includes 0.6 m with no core recovery from 315.2 to 315.8 m; this interval was given a zero grade 3 includes 3.1 m with no core recovery from 198.8 to 201.9 m; this interval was given a zero grade 4 includes a silver assay cut at 1000 g/t5 high grade vein intercepts with variable true thicknesses | | Note: Assays are calculated using a zinc only cut off grade of 2% over 6 metres | Notes on sampling and assaying:
Drill holes are diamond HQ or NQ size core holes with recoveries generally above 80% and often 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 1 to 2 metre composite intervals and sent to ALS laboratory in Lima, an ISO 9001:2000-registered laboratory, for assay in batches. Standards and blanks are inserted into each batch prior to departure from Tinka’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 (MS) using multi-acid digestion. Samples assaying over 1% zinc, lead, or copper are re-assayed using precise ore-grade AAS techniques.
Table 2. Summary of Drill Collar Information
Drill HoleWGS84 EastWGS84 NorthTotal depth (m)Elevation (m)AzimuthDip | A17-056 | 333046 | 8845062 | 293.9 | 4201 | 300 | -75 | | A17-056A | 333046 | 8845062 | 376.4 | 4201 | 300 | -75 | | A17-057 | 333046 | 8845062 | 477.0 | 4201 | 300 | -55 | | A17-058 | 332557 | 8845657 | 301.0 | 4305 | 040 | -82 | | A17-059 | 332840 | 8845192 | 248.9 | 4202 | 120 | -85 | | A17-060 | 333174 | 8845005 | 358.4 | 4220 | 300 | -70 | | A17-061 | 333058 | 8844996 | 326.9 | 4190 | 290 | -67 | Figure 1. Simplified cross section of holes A17-056, A17-057 & A17-060 (looking northeast)
 Figure 2. Map of 2017 Ayawilca drill program on airborne RTP magnetics (red = magnetic sources)
 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 its flagship property being the 100%-owned Ayawilca carbonate replacement deposit (CRD) in the zinc-lead-silver belt of central Peru, 200 kilometres northeast of Lima. The Ayawilca Zinc Zone has an Inferred Mineral Resource of 18.8 Mt at 5.9 % zinc, 0.2 % lead, 15 g/t silver & 74 g/t indium, and a Tin Zone Inferred Mineral Resource of 5.4 Mt at 0.76 % tin, 0.31 % copper & 18 g/t silver. Both resources are open for expansion ( May 25, 2016). The Silver Zone at Colquipucro, 2 km north of the Zinc Zone, has an Indicated Mineral Resource of 2.9 Mt at 112 g/t silver for 10.4 Moz silver and an Inferred Mineral Resource of 2.2 Mt at 105g/t silver for 7.5 Moz silver hosted by oxidized lenses between the surface and 80 metres depth ( Feb. 26, 2015). |
