VANCOUVER, June 29, 2016 /CNW/ - Tinka Resources Limited ("Tinka" or the "Company") (TSXV: TK) (OTCPK: TKRFF) is pleased to announce that the Company has filed an independent
National Instrument 43-101 Technical Report (the "NI 43-101 Technical Report") on the Mineral Resource Estimate for the Ayawilca Property,
Department of Pasco, Peru in support of the Company's news release
dated May 25, 2016.
The updated Inferred Mineral Resource estimate for the Ayawilca Zinc
Zone now consists of 18.8 million tonnes grading 8.2% Zinc Equivalent(1) (5.9% zinc, 0.2% lead, 74 g/t indium, and 15 g/t silver). In addition,
an initial Inferred Mineral Resource estimate for the Ayawilca Tin Zone
consists of 5.4 million tonnes grading 0.89% Tin Equivalent(2) (0.76% tin, 0.31% copper, and 18 g/t silver). Both resource cut-off
grades are equivalent to an approximate NSR of US$60 per tonne.
The Colquipucro Deposit Indicated Mineral Resource of 7.4 million tonnes grading 60 g/t silver and Inferred Mineral Resource of 8.5 million tonnes grading 48 g/t silver remains unchanged since the previous resource update of February, 2015.
Dr. Graham Carman, Tinka's President and CEO, stated: "The NI 43-101 Technical Report updates and replaces the previous
technical report describing mineral resources at the Ayawilca Property,
resulting from mineralization discovered in the 9,000 metre step-out
drill program during the latter half of 2015. The updated Zinc Zone
Mineral Resource is a 42% resource increase at a higher ZnEq grade from
the previous estimate (Feb' 2015). We expect the mineral resources at
Ayawilca to continue to grow, as the drilling footprint expands. Many
more targets remain to be drill tested, and we are very much looking
forward to the commencement of drilling once final approvals are
obtained, expected late Q3 2016."
The NI 43-101 Technical Report was authored by Mr. David Ross. P.Geo.,
of Roscoe Postle Associates Inc., who is an independent "qualified
person" as defined by National Instrument 43-101. Mr. Ross has read and
approved the technical contents of this release as it pertains to the
mineral resource estimates.
The NI 43-101 Technical Report may be found under the Company's profile
on SEDAR at www.sedar.com and on the Company's website at www.tinkaresources.com .
Figure 1. Drill hole map and projected Mineral Resource wireframes.
Figure 2. East-west longitudinal section highlighting the Zinc and Tin
Zones at Ayawilca.
The zinc equivalent (ZnEq.%) value was calculated using the following
The tin equivalent (Sn Eq.%) value was calculated using the following
Sn Eq.(%) = [Sn(%)*US$130.36+Cu(%)*US$41.26+Ag(g/t)*US$0.28]/ US$130.36
About Tinka Resources Limited
Tinka is an exploration and development company with properties in Peru.
Tinka's focus is on its 100%-owned Ayawilca Property in the highly
mineralized zinc-lead-silver belt of central Peru, 200 kilometres north
of Lima and 40 kilometres from Peru's largest historic zinc mine at
Cerro de Pasco. Ayawilca has Inferred Mineral Resources of 18.8 Mt at
8.2% Zinc Eq, and 5.4 Mt at 0.89% Tin Eq, open for expansion (news
release of May 25, 2016). The Colquipucro silver oxide zone located 1.5 km north of Ayawilca
has an Indicated Mineral Resource of 7.4 Mt at 60 g/t Ag for 14.3 Moz
Ag and an Inferred Mineral Resource of 8.5 Mt at 48 g/t Ag for 13.2 Moz
Ag (news release of Feb' 26, 2015).
On behalf of the Board,
Dr. Graham Carman, President & CEO
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, timing of commencement
of a further resource extension drill program, 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 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
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
Note. All drill holes and wireframe interpretations are projected onto
a two dimensional plane, and do not line-up exactly with geological
surfaces in this image
SOURCE Tinka Resources Limited
Image with caption: "Figure 1. Drill Hole Map and Projected Mineral Resource Wireframes (CNW Group/Tinka Resources Limited)". Image available at: http://photos.newswire.ca/images/download/20160629_C9246_PHOTO_EN_44768.jpg
Image with caption: "Figure 2. East-West Longitudinal Section Highlighting the Zinc and Tin Zones at Ayawilca. (CNW Group/Tinka Resources Limited)". Image available at: https://photos.newswire.ca/images/download/20160629_C9246_PHOTO_EN_44769.jpg
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