VANCOUVER, Feb. 7 /CNW/ - Tinka Resources Limited (the "Company"), (TSXV - TK; Frankfurt - TLD;
Pinksheets -TKRFF). Mr. Andrew Carter, President, reports that the Peruvian authorities have
granted the Company a modification to the existing 50 hole drill permit
for the Colquipucro silver project, west-central Peru. The modification
is for a further 8 holes to test the Ayawilca zone located 1.5 km south
of the NI43-101 compliant 20.3 million ounce silver resource (see press
release dated April 24, 2008 ) known as Zone 1. The Company is seeking
a drill contractor to undertake this drill program as soon as possible.
The Ayawilca zone occurs in the same favorable sandstone unit that hosts
the Zone 1 silver resource. The zone is located adjacent to a major
transverse fault system, and the sandstone is intensely brecciated. An
induced polarization (IP) geophysical survey, consisting of 14
line-kilometres, was completed at Ayawilca (see press release dated
August 24, 2010) and was contiguous with the IP survey performed over
Zone 1 in 2007 (see press release dated March 1, 2007). The inversion
model of the IP data produced a target underlying the Ayawilca zone
that trends east-southeast for 600 metres and plunges gently to the
Mr. Carter said: "The Company's new management team in Peru, which has
been put in place over the last four weeks, has worked diligently to
resolve all observations from the relevant governmental authorities in
what has been a complicated and protracted process. We are pleased that
this important step of obtaining the modified drill permit to test the
Ayawilca zone has now been achieved as it will allow the Company to
advance the project to the next level."
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 Limited
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