Vancouver, Canada - Tinka Resources Limited (the “Company”), (TSXV - TK; Frankfurt - TLD; Pinksheets-TKRFF), announces the results from three further drill holes testing the northern extension of Zone 1 on the Company’s wholly-owned Colquipucro silver-zinc-lead property, west-central Peru. The holes were drilled on the easternmost and central section lines of the known resource.
The holes intercepted oxidized, banded, “zebra-stripe” sandstone and progressed into the underlying sedimen- tary breccia, greywacke, siltstone and fluidized sulphide unit. This unit is generally quite thin or non-existent elsewhere in the resource area, but each of holes 16 to 19 intercepted many 10’s of metres of this lithologic as- semblage, not reaching the underlying Pucura limestone. Also, the mineralization in this unit is more oxidized than in holes further downslope or west from here. All holes intercepted the high grade veins/faults/gossan zones within the sandstone roughly perpendicular to the dip of the hole, while the intervening fracture-controlled mineralization in the sandstone was intercepted at about 45 degrees to the inclination of the drill hole, on aver- age. The orientation of the mineralization within the underlying sedimentary breccia is not clear, however, narrow zones of intense oxidation suggest that the mineralized structures in the overlying sandstone may penetrate the underlying unit. The mineralization in holes 17 and 18 remain open at depth and 19 was abandoned at 129 m due to drilling conditions.
Significant mineralized intervals, using a 15 g/t Ag cut-off, are shown below:
Hole # | Easting (m) | Northing (m) | Elevation (m) | Azimuth (deg) | Dip (deg) | From (m) | To (m) | Interval (m) | Ag (g/t) |
CDD17* | 332798 | 8847969 | 4333 | 180 | -50 | 42 | 44.2 | 2.2 | 20 |
46 | 47.6 | 1.6 | 21 | ||||||
62 | 66 | 4 | 47 | ||||||
102 | 126.1 | 24.1 | 31 | ||||||
138 | 144 | 6 | 29 | ||||||
146 | 148 | 2 | 23 | ||||||
150 | 152.8 | 2.8 | 51 |
*remains open at depth
Hole # | Easting (m) | Northing (m) | Elevation (m) | Azimuth (deg) | Dip (deg) | From (m) | To (m) | Interval (m) | Ag (g/t) |
CDD18* | 332798 | 8847969 | 4333 | 360 | -60 | 1.95 | 4 | 2.05 | 21 |
50 | 56.1 | 6.1 | 26 | ||||||
90 | 94 | 4 | 27 | ||||||
100 | 107.65 | 7.65 | 23 | ||||||
116 | 124.5 | 8.5 | 36 | ||||||
CDD19** | 332691 | 8847933 | 4339 | 180 | -60 | 4 | 8 | 4 | 21 |
16 | 26 | 10 | 24 | ||||||
28 | 70 | 42(1) | 165(1) | ||||||
Including | 28 | 52 | 24 | 105 | |||||
38 | 52 | 14 | 160 | ||||||
54 | 64 | 10 | 355 | ||||||
66 | 70 | 4 | 210 | ||||||
76.3 | 82 | 5.7 | 17 | ||||||
96 | 100.3 | 4.3 | 22 | ||||||
109.3 | 116 | 6.7 | 46 | ||||||
118 | 126 | 8 | 63 |
* remains open at depth.
** CDD19 was abandoned at 128.9 m due to drilling conditions
(1) includes two intervals between 52 and 54 m and between 64 and 66m that assayed
7.3 g/t and 10.3 g/t, respectively.
Mineralized intervals of Pb and Zn, using a 1% cut off, are shown below:
Hole # | Easting (m) | Northing (m) | Elevation (m) | Azimuth (deg) | Dip (deg) | From (m) | To (m) | Interval (m) | Zn (%) | Pb (%) |
CDD17 | 332798 | 8847969 | 4333 | 180 | -50 | 28 | 32 | 4 | 1.8 | |
66 | 70 | 4 | 1.8 | |||||||
CDD18 | 332798 | 8847969 | 4333 | 360 | -60 | 50 | 56.1 | 6.1 | 1.1 | |
78 | 84 | 6 | 2.5 | |||||||
86 | 92 | 6 | 2.2 | |||||||
94 | 107.65 | 13.65 | 1.7 |
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.
Mr Carter said: “These results are extremely positive as they confirm that the mineralization continues north and is open at depth, giving the potential of increasing the size of the resource. Drilling is continuing at Zone 1 testing the northern extension. The Company has elected to withdraw from its option over the Tibillos copper porphyry
property due to the drill results. In doing so, the Company will be able to concentrate its efforts and resources into the Colquipucro project.”
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”
Andrew Carter, President & CEO Company Contact:
Mariana Bermudez at (604) 699 0202 or email: mbermudez@chasemgt.com
website: www.tinkaresources.com
Investor Information Contact:
Bay Street Connect, Michael D’Amico
Tel: 1.647.500.6023
Email: michael@baystreetconnect.com
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.