Tinka Drills 20 m of 85.9 g/t Silver at Northern Extension of Zone 1, Colquipucro Project, Peru

May 1st, 2012
View PDF

Vancouver, Canada - Tinka Resources Limited (the “Company”), (TSXV - TK; Frankfurt - TLD; Pinksheets -TKRFF), announces the results from 3 holes testing the northern extension of Zone 1, prior to the commencement of in-fill drilling, on the Company’s wholly-owned Colquipucro silver-zinc property, west-central Peru. The holes were drilled along the central line within the area of the known resource.

Mr Carter said: “We continue to be extremely pleased with the results from the drilling at the northern extension. The mineralized area at Zone 1 appears to have increased significantly with the results from the Phase 2 round of drilling (see press releases dated March 13, 2012, March 19, 2012 and March 27, 2012). Phase 3 in-fill drilling along 50 m lines will commence as soon as possible.”

The holes intercepted oxidized, banded, “zebra-stripe” sandstone and progressed into the underlying sedimentary breccia, greywacke, siltstone and fluidized sulphide unit. Hole 20 was drilled to the south and would have intersected the fracture controlled mineralization at angles between 30 and 45 degrees to the inclination of the hole; the high grade veins, where present, would have been intersected at about 70 degrees to the hole. Hole CDD24 was drilled to the north to determine the contact with the underlying limestones and phyllites. The hole would have intercepted the fracture- controlled mineralization in the sandstone at about 45 degrees to the inclination of the drill hole, on average; no signs of high grade veins or workings were observed in this area. Hole CDD25 was drilled vertically and would have intersected much of the fracture-controlled mineralization at shallow angles to the drillhole; the higher grade veins/faults would have been intersected at between 35 and 45 degrees to the hole. 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.

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)

CDD20

332692

8847985

4334

180

-60

22

32

10.0

38.6

34

38.2

4.2

42.0

43.7

48.2

4.5

52.0*

53.1

64.0

10.9

62.2

70

88

18.0

28.0

Open

at

depth

98

100.7

2.7

50.0

CDD24

332692

8847985

4334

360

-50

30

50

20.0

85.9

52

56

4.0

31.0

58

62

4.0

20.4

68

70

4.0

38.8

132

136.5

4.5

93.3

CDD25

332692

8847933

4339

n.a.

-90

6

22

16.0

26.7

24

52

28.0

41.6

70

82

12.0

30.4

84

114

30.0

40.0

130

136

6.0

26.4

* Open spaces with no recovery from 38.2 to 43.7 and 48.2 to 53.1 m. The sample interval 43.7 to 48.2 represents only 39% core recovery. CDD20 ended in mineralization as it was abandoned due to lost drill rods.

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 ICP analyses using multi-acid digestion. 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.) 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 Tel: 1.604.699.0202
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, sea- sonality, 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.