VANCOUVER, Feb. 23, 2012 /CNW/ - Tinka Resources Limited (the "Company"), (TSXV: TK) (Frankfurt: TLD) (Pinksheets: TKRFF), announces results from drilling of the Ayawilca zone at the Company's 100 percent-owned Colquipucro project, west-central Peru.
Hole DD52B, completed in January, was drilled to test a large 3-D induced polarization (IP) anomaly detected in 2010. Hole 53, previously reported in the news release of November 21 2011, yielded several massive and semi-massive sulphide intercepts, including 30 m of 3.5% Zn; the hole ended in mineralization.
Hole DD71, drilled previously (see press release of November 21, 2011) and located about 250 m NW of hole DD52B, returned an 8 m interval that graded 15.9% Zn and 33 g/t Ag. The mineralization in hole DD71 is interpreted as a high grade vein emanating from the massive sulphide body defined by the IP anomaly extending for 600 m to the east.
DD52B intercepted 3 mineralized intervals, of which the lowermost is the most significant. It ends abruptly against phyllites of the Devonian Excelsior group, suggesting a faulted offset. The IP anomaly continues to the north and will be tested by at least one hole in this direction.
|Hole #|| Easting
* composite average includes a 2 m gap assigned zero value.
The massive sulphide mineralization in both holes occurs in sedimentary breccias, greywacke and siltstones in a formation found immediately below the Gollyar sandstones--the host to the oxidized and fracture-controlled mineralization found at Zone 1. This appears to be a previously-unidentified formation, but it may have a stratigraphic relationship to breccias and conglomerates found at the Huaron Mine located southwest of Cerro de Pasco.
Hole A12-01 is currently testing this anomaly 200 m east of hole 52B; at least 5 other holes will be drilled to test this target from the available permitted drill sites. Once the results of the current IP survey are available, the Company will apply for additional drill permits to continue exploration of this new zone.
Mr Carter said: "We are extremely pleased with the result from this drill hole as it confirms that massive sulphide mineralization exists within the identified geophysical anomaly. Further deep drilling is continuing from the permitted pads along with a new geophysical survey to the east. The Ayawilca zone is an exciting new discovery and an added bonus to the development of the Colquipucro project".
All diamond drilling has been performed using HQ and NQ diameter drill rods. 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 assay by multi-acid digestion method. 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.), who has recently visited the drill site to observe the core from the holes reported in this news release, 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.
For further information:
Mariana Bermudez at (604) 699 0202 or
email: [email protected]
Investor Information Contact:
Bay Street Connect, Michael D'Amico
Email: [email protected]