VANCOUVER, Sept. 28, 2016 /CNW/ - Tinka Resources Limited ("Tinka" or the "Company") (TSXV: TK) (OTCPK: TKRFF) is pleased to announce that it has signed a four-year access agreement with the third and final community owning surface rights at the Company's 100%-owned Ayawilca Property in central Peru, which is underpinned by an Inferred Mineral Resource of 18.8 million tonnes at 8.2% Zinc Equivalent (see news release of May 25, 2016). The San Pedro de Pillao community owns the surface rights immediately north and east of the Inferred Mineral Resource. Earlier this month, Tinka announced completed agreements with two other communities covering the remaining surface rights (see news release of September 6, 2016).
Dr. Graham Carman, Tinka´s President and CEO, stated: "This third and last community agreement means that Tinka can access all of its highest priority targets for the next drill campaign, which is expected to commence in a few weeks. We wish to thank the community of San Pedro de Pillao for its continued partnership with Tinka, a relationship which has been ongoing for a number of years. Now, for the first time, Tinka has access to multiple highly prospective areas that have not been previously drill tested, including zinc-bearing gossans at Zone 3 and Chaucha."
Dr. Carman continued, "San Pedro de Pillao is also where our Colquipucro silver oxide resource area is located, and where recent work has identified significant zinc-lead-silver exploration potential close to the silver resource. Our geologists believe the base metal targets may belong to different portions of the same mineralizing system and ultimately be connected to the Colquipucro deposit, where the Indicated Mineral Resource estimate totals 14.3 million ounces of silver with an additional Inferred Mineral Resource estimate of 13.2 million ounces of silver, at a shallow depth of less than 80 metres from the surface."
A map showing the priority drill targets for the upcoming drill programs at Ayawilca is included in this news release.
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.
About Tinka Resources Limited
Tinka is an exploration and development company with projects 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 two separate Inferred Mineral Resource Zones of 18.8 Mt at 8.2% Zinc Eq, and 5.4 Mt at 0.89% Tin Eq, both open for expansion (news release of May 25, 2016). The Colquipucro silver deposit, located 2km north of the Zinc Zone, has Indicated Mineral Resources of 2.9 Mt at 112g/t Ag for 10.4 Moz Ag and Inferred Mineral Resources of 2.2 Mt at 105g/t Ag for 7.5 Moz Ag in 'higher-grade lenses' within a lower-grade resource envelope of 7.4 Mt at 60g/t Ag for 14.3 Moz Ag (Indicated) and 8.5 Mt at 48g/t Ag for 13.2 Moz Ag (Inferred) (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 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 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
Image with caption: "Zinc soil anomaly map highlighting targets for the 2016-2017 drill program at Ayawilca (CNW Group/Tinka Resources Limited)". Image available at: https://photos.newswire.ca/images/download/20160928_C1498_PHOTO_EN_783587.jpg
For further information: Investor Information: www.tinkaresources.com; Rob Bruggeman, 1.416.884.3556, firstname.lastname@example.org; Company Contact: Mariana Bermudez, 1.604.699.0202, email@example.com