Tinka announces new step out holes extend zinc at South Ayawilca by 200 metres and high-grade silver highlights new style of zinc mineralization

22.8 METRES GRADING 8.4% ZINC IN HOLE A17-071, MINERALIZATION REMAINS OPEN
11.5 METRES GRADING 780 GRAMS PER TONNE SILVER + 5.2 % ZINC+LEAD IN HOLE A17-072

VANCOUVER, July 17, 2017 /CNW/ - Tinka Resources Limited ("Tinka" or the "Company") (TSXV: TK) (OTCPK: TKRFF) is pleased to announce assay results of five new step-out drill holes at its 100%-owned Ayawilca zinc project in central Peru. Three holes were drilled at the South Ayawilca discovery area, with one hole drilled at West Ayawilca (A17-074).  Hole A17-073 was drilled at Zone 3, the first hole into this new target. 

Holes A17-071 and A17-075 both intersected significant thicknesses of high grade zinc and have extended the footprint of the South Ayawilca discovery by 200 metres to the southeast, where zinc remains open and untested.  Hole A17-072 at South Ayawilca intersected high grade silver with moderate grade zinc-lead mineralization adjacent to an important northeast-trending fault, which is a new style of mineralization observed at Ayawilca, This new high-grade silver discovery opens up additional exploration opportunities.  Three rigs continue to turn at the project on multiple fronts. 

Key Highlights
Hole A17-071 (South Ayawilca):

  • 22.8 metres at 8.4 % zinc, 0.8 % lead, & 35 g/t silver from 327.2 metres depth, including
    • 12.6 metres at 11.6 % zinc, 0.9 % lead, & 35 g/t silver from 332.4 metres depth;

Hole A17-072 (South Ayawilca):

  • 11.5 metres at 2.9 % zinc, 2.3 % lead & 781 g/t silver from 294.5 metres depth, including
    • 2.0 metres at 5.6 % zinc, 5.5 % lead & 3167 g/t silver from 302.0 metres depth;

Hole A17-075 (South Ayawilca):

  • 20.8 metres* at 5.0 % zinc, 11 g/t silver & 44 g/t indium from 359.0 metres depth, including
  • 3.5 metres at 10.2 % zinc, 17 g/t silver & 96 g/t indium from 376.3 metres depth;

* includes 1.7 metres of no recovery assumed zero grade

Hole A17-074 (West Ayawilca):

  • 2.2 metres at 31.0 % zinc, 0.1 % lead & 138 g/t silver from 71.4 metres depth (vein), and
    • 0.7 metres at 18.3 % zinc & 38 g/t silver from 148.0 metres depth (vein);

Hole A17-073 (Zone 3):

The first hole at Zone 3, drilled 700 metres east of the existing East Ayawilca Inferred Resource, was completed to a depth of 710 metres. Replacement sulphide mineralization was encountered, mostly pyrite with minor sphalerite, over a 15-metre interval near the base of the carbonate sequence which hosts mineralization elsewhere.  At Ayawilca, pyrite occurs on the margins of the zinc mineralization, so we interpret this as an indication that significant zinc mineralization may be close by.  A follow-up hole (A17-081) is in progress, with one more hole planned for Zone 3 in this program.

See drill hole and zinc grade-thickness maps (Figure 1 and Figure 2), and a South Ayawilca cross section (Figure 3).

Dr. Graham Carman, Tinka´s President and CEO, stated: "We are very pleased with these new drill results. The zinc discovery at South Ayawilca continues to expand southward, and remains open in several directions (see Figure 2). Hole A17-075 indicates that zinc may be thickening to the south on that section. The high-grade silver (zinc-lead) discovery in A17-072 is also exciting as it opens potential for additional bonanza-grade mineralization along the South Ayawilca Fault, which is largely untested. High-grade silver (zinc-lead) mineralization occurs with sulphides as cavity fillings in recrystallized limestone with abundant quartz-carbonate alteration, quite different to the massive sulphide mineralization associated with the high-grade zinc."

Dr. Carman continued: "We are continuing to test zinc targets at the project and expand the drilling effort. Step-out holes are taking place at West and South Ayawilca, with new targets being drilled at Zone 3 and Chaucha. The drilling at Zone 3 is progressing well.  Indications are that a significant zinc sulphide system could be nearby. Zone 3 is a large target area covering more than 1 km2, and several holes will be needed to evaluate the full potential of that area."

True thicknesses of the zinc intersections are estimated to be at least 85% of the downhole thickness, except where otherwise noted in footnotes to Table 1. All significant results of the 2017 program are summarized in Table 1 with the strongest intercepts in bold text. Table 2 is a summary of all drill collar information to date. 

Table 1.  Summary of 2017 Drill Results from Ayawilca










Drill hole

From m

To m

Interval m

Zn %

Pb %

Ag g/t

Indium g/t

Reported

A17-0561

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

May 3'17

and

309.00

313.10

4.10

18.6

0.1

27

224

May 3'17


including

310.50

313.10

2.60

27.3

0.1

38

336

May 3'17

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

May 3'17

and

133.25

134.35

1.105

30.3

3.2

500

61

May 3'17

A17-058 did not reach target, lost at 301 metres in sandstone


A17-059

50.30

51.10

0.80

37.5

0.5

69

70

June 8'17


58.00

60.00

2.00

6.3

0.0

12

30

June 8'17

A17-060

262.40

264.40

2.00

14.8

0.0

35

1178

May 3'17

and

275.00

279.50

4.50

15.0

0.0

20

383

May 3'17

and

298.00

328.50

30.52

3.4

0.2

10

38

May 3'17


including

303.40

312.00

8.60

5.1

0.1

11

6

May 3'17

A17-061

122.70

150.50

27.80

4.4

0.1

18

24

May 3'17


including

145.70

147.50

1.805

27.2

0.0

32

157

May 3'17

and

184.00

202.60

18.603

10.4

0.5

52

59

May 3'17


including

196.20

198.80

2.60

23.6

2.4

192

19

May 3'17


including

201.90

202.60

0.70

28.7

3.6

202

41

May 3'17

and

220.00

233.40

13.40

18.7

0.9

57

463

May 3'17


including

224.10

230.00

7.90

29.3

0.8

71

719

May 3'17

and

265.00

266.80

1.80

37.0

0.2

85

808

May 3'17

A17-062

152.40

153.05

0.655

33.6

0.3

166

42

June 28'17

A17-062 was lost prior to target depth in a fault zone at 313 metres


A17-063

302.20

349.90

47.70

11.3

0.0

18

313

June 8'17


including

303.30

313.10

9.80

17.4

0.0

28

587

June 8'17


including

327.40

339.60

12.20

17.1

0.0

26

495

June 8'17

A17-064

269.90

270.40

0.50

15.6

0.0

11

304

June 8'17

and

277.20

277.60

0.40

14.5

0.0

17

39

June 8'17

A17-065

119.00

119.75

0.75

36.6

0.1

88

157

June 8'17

and

204.00

210.00

6.00

4.0

0.0

4

9

June 8'17

and

219.50

238.80

19.30

4.7

0.0

7

93

June 8'17


including

236.20

238.80

2.60

20.6

0.0

23

529

June 8'17

and

266.40

293.00

26.60

3.6

0.0

4

46

June 8'17

and

307.30

332.00

24.70

3.8

0.0

5

51

June 8'17

and

340.00

346.00

6.00

2.6

0.1

7

16

June 8'17

A17-066

185.20

185.50

0.30

37.8

0.0

40

1330

June 8'17

and

330.90

334.40

3.50

7.4

0.1

24

111

June 8'17

and

345.00

350.00

5.00

11.3

0.1

37

270

June 8'17

A17-067

256.40

265.00

8.60

2.7

0.2

39

0

June 28'17

A17-068

343.55

344.30

0.75

6.1

11.6

210

7

June 28'17

and

382.00

388.00

6.00

4.0

0.1

46

47

June 28'17

A17-069

182.00

190.00

8.00

3.0

0.5

13

17

June 28'17

and

261.60

262.30

0.70

17.8

0.0

14

73

June 28'17

and

271.40

300.70

29.30

10.4

0.1

17

278

June 28'17


including

287.30

299.40

12.10

19.1

0.1

25

440

June 28'17

A17-070

100.00

105.10

5.10

6.3

0.6

127

82

June 28'17

and

306.80

308.40

1.60

15.4

0.1

40

529

June 28'17

and

317.50

356.80

39.306

7.1

0.1

13

100

June 28'17


including

340.00

356.80

16.80

12.9

0.1

19

183

June 28'17


including

340.00

348.00

8.00

20.9

0.1

19

265

June 28'17

A17-071

327.20

350.00

22.80

8.4

0.8

35

17

Here


including

332.40

345.00

12.60

11.6

0.9

35

30

Here

A17-072

104.80

105.60

0.80

27.0

0.3

73

125

Here

and

294.50

306.00

11.50

2.9

2.3

781

0

Here


including

302.00

304.00

2.00

5.6

5.5

3167

0

Here

A17-073

no significant results


Here

A17-074

71.40

73.60

2.205

31.0

0.1

138

23

Here

and

148.00

148.70

0.705

18.3

0.3

38

0

Here

A17-075

359.00

379.87

20.80

5.0

0.0

11

44

Here


including

376.30

379.80

3.50

10.2

0.0

17

96

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/t

5 high grade vein intercepts with variable true thicknesses

6 includes 4.3 m of no recovery assumed zero grade

7 includes 1.7 m of no recovery assumed zero grade

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 either ALS or SGS laboratories in Lima 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 Hole

WGS84 East

WGS84 North

Total depth (m)

Elevation (m)

Azimuth

Dip

A17-056

333046

8845062

293.9

4202

300

-75

A17-056A

333046

8845062

376.4

4202

300

-75

A17-057

333046

8845062

477.0

4202

300

-55

A17-058

332557

8845657

301.0

4299

040

-82

A17-059

332840

8845192

248.9

4209

120

-85

A17-060

333174

8845005

358.4

4218

300

-70

A17-061

333058

8844996

326.9

4191

290

-67

A17-062

333175

8845004

309.0

4218

000

-90

A17-063

333241

8845118

416.6

4229

310

-70

A17-064

333062

8844993

369.1

4191

290

-50

A17-065

333174

8845090

366.3

4225

300

-75

A17-066

333345

8845193

371.6

4211

310

-70

A17-067

333059

8844996

302.8

4190

120

-85

A17-068

333552

8845279

419.7

4185

310

-75

A17-069

333114

8845103

374.3

4210

300

-65

A17-070

333152

8845150

367.8

4230

310

-75

A17-071

333328

8845044

383.3

4202

310

-70

A17-072

333114

8845103

445.9

4233

300

-53

A17-073

334458

8846616

710.0

4024

210

-75

A17-074

332666

8845491

429.6

4124

015

-75

A17-075

333434

8845121

395.3

4201

310

-70

A17-076

333155

8845153

420.7

4230

310

-55

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.

On behalf of the Board,

"Graham Carman"                      
Graham Carman, President & CEO

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).

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, drilling results, 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

SOURCE Tinka Resources Limited

For further information: Investor Information: www.tinkaresources.com, Rob Bruggeman 1.416.884.3556, rbruggeman@tinkaresources.com; Company Contact: Mariana Bermudez, 1.604.699.0202, info@tinkaresources.com

RELATED LINKS
www.tinkaresources.com

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890