Tinka Secures Surface Agreement With Yanacocha Community For Ayawilca Zone, Colquipucro Project, Peru
VANCOUVER, Aug. 2, 2012 /CNW/ - Tinka Resources Limited (the "Company"), (TSXV:TK) (Frankfurt:TLD) (Pinksheets :TKRFF), announces that the Company has signed a surface access agreement with the Yanacocha community for the Ayawilca zone of the Colquipucro project, west-central Peru. The agreement grants the Company access for all exploration activities including drilling for the next thirty months.
Mr Carter said: "We are extremely pleased with this positive decision by the community and look forward to working with them, not only in the development of the Colquipucro project, but in the development of sustainable projects and social programs for the community as a whole. As a result of this major step, drilling is scheduled to recommence at Ayawilca in mid-August."
The Company announces the results of the last three holes completed at Ayawilca prior to cessation of drilling. Significant mineralized intervals are shown below:
|Ag (g/t)||Zn (%)|
Holes A12-01 to A12-03 intercepted massive and semi-massive sulphides, consisting of pyrite, sphalerite and lesser galena, chalcopyrite and arsenopyrite hosted by a sedimentary breccia, greywacke and siltstone formation that underlies the sandstones that hosts the silver mineralization at Zone 1. The mineralization is often accompanied by hematite, magnetite and chlorite alteration. As yet, the geometry of the mineralization is not fully understood, so the angles at which the holes intercepted the sulphide bodies can only be conjectured. The mineralization is believed to have been sourced from steeply dipping structures that underlie this sedimentary sequence, thus some of the mineralization may have a steep to near-vertical component; however, the irregular nature of some of it may suggest a replacement style which could trend in any direction.
Mr Carter said: "We are encouraged by these results as it confirms that the sulphide mineralization discovered in holes 52B and 53, located 200 m further west, continues in this direction. The results of the IP survey completed early in 2012 have extended the large conductive bodies over a distance of 1.2 km east-west, doubling the size of the IP anomaly discovered in 2010. Drill permit and environmental applications have been submitted to the regulatory authorities in preparation for a more advanced drilling program to test these geophysical conductors."
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 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 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, President & CEO
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.
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.
SOURCE: Tinka Resources LimitedFor further information:
Mariana Bermudez Tel: 1.604.699.0202
Investor Information Contact:
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