Tinka Drills 45.5 Metres Grading 7.8 % Zinc And 40.8 Metres Grading 9.4 % Zinc In Hole A17-096 At South Ayawilca

October 2nd, 2017
View PDF

Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “Company”) (TSXV: TK) (OTCPK: TKRFF) is pleased to announce assay results for three additional drill holes from the South Ayawilca zinc discovery in central Peru. Hole A17-096 intersected high-grade zinc mineralization in two intercepts of over 40 metres each, and is one of the best drill holes of this year’s 15,000 metre drill campaign. The zinc intercepts in A17-096 indicate continuity of the two high-grade zinc zones intersected in hole A17-056 (63.9 metres grading 5.6% zinc from 126 metres depth & 51.9 metres grading 10.1 % zinc from 242 metres depth) separated by 50 to 100 metres. Also at South Ayawilca, hole A17-093 intersected zinc-lead-silver mineralization in an infill hole between two holes separated by 250 metres (A17-075 and A17-078), and connects South Ayawilca with the Central Ayawilca resource zone. Hole A17-094 intercepted a narrow high-grade silver-zinc-lead zone in a 200 metre step out hole. Mineralization at South Ayawilca remains open to the southeast, east and south.

Two drill rigs continue to turn at South Ayawilca. Drill data for a zinc resource update is being finalized, with the new resource expected by early November. Drilling is planned to continue until December, testing new targets and continuing with step out holes at South Ayawilca.

Key Highlights of the latest South Ayawilca drill holes

Hole A17-096:

  • 45.5 metres at 7.8 % zinc & 111 g/t indium from 241.5 metres depth, including
    • 10.6 metres at 15.5 % zinc & 320 g/t indium from 250.8 metres depth; and
  • 3.8 metres at 8.3 % zinc & 82 g/t indium from 304.8 metres depth; and
  • 40.8 metres at 9.4 % zinc, 15 g/t silver & 145 g/t indium from 315.2 metres depth, including
    • 5.0 metres at 17.2 % zinc, 28 g/t silver & 591 g/t indium from 319.0 metres depth, and
    • 11.9 metres at 17.4 % zinc, 20 g/t silver & 80 g/t indium from 342.6 metres depth;

Hole A17-094:

  • 1.2 metres at 1.6 % zinc, 2.1 % lead & 193 g/t silver from 394.0 metres depth;

Hole A17-093:

  • 9.0 metres** at 2.7 % zinc, 0.7 % lead & 51 g/t silver from 382.0 metres depth, including
    • 2.7 metres at 6.8 % zinc, 1.1 % lead & 108 g/t silver from 388.3 metres depth;
      (** includes 1.3 metres of no recovery assumed zero grade)

Dr. Graham Carman, Tinka´s President and CEO, stated: “We are thrilled with the intersections in hole A17-096 as they confirm the continuity of thick and high-grade zinc mineralization previously encountered in hole A17-056. South Ayawilca continues to surprise us with its high zinc grades. As we enter the final quarter of 2017, our busiest year at the project with more than 15,000 metres drilled to date, we look forward to updating our resource estimate by November. In addition, tin assays are being compiled and will be released once our geological interpretations are completed. Also, closed-cycle metallurgical flotation tests for zinc composite samples from South, West, and Central Ayawilca are in progress with results expected before year end.

Drill progress

Six drill holes from South and Central Ayawilca have assays pending or are in progress (A17-095 and A17-097, 098, 099, 100, 101). Approximately five additional holes are planned at South and Central Ayawilca this year. Assays are also pending for two holes from the Valley area (A17-090 and 092). See Table 1 for a summary of all significant zinc (lead, indium, silver) intercepts in the 2017 drill program to date. Maps attached are:

Figure 1 - Ayawilca drill hole location map.
Figure 2 - Longitudinal section of South Ayawilca showing hole A17-096.

Figure 1. Ayawilca 2017 drill hole location map with 2016 Zinc Mineral Resource boundaries

Figure 2. Interpretive Section Y-Y’ (see Fig. 1) showing hole A17-096

True thicknesses of the zinc intersections are estimated to be at least 85% of the downhole thickness, except where otherwise noted in footnotes to Table 1. All significant results of the 2017 program are summarized in Table 1 with the strongest intercepts in bold text. Table 2 summarizes all drill collar information to date.

NI 43-101 Technical Report:

On June 29, 2016, Tinka 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 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. 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

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.

Table 1. Summary of 2017 Drill Results from Ayawilca by Area and Date of Release

Drill hole From m To m Interval m Zn % Pb % Ag g/t Indium g/t Area Ayawilca Reported
A17-0561 90.30 90.65 0.35 29.0 0.4 82 443 South April 3 ‘17
and 113.00 113.40 0.40 31.2 0.0 85 759 April 3 ‘17
and 126.00 189.90 63.90 5.6 0.1 17 29 March 6 ‘17
including 127.50 145.40 17.90 11.6 0.2 36 20 March 6 ‘17
including 127.50 133.30 5.80 22.5 0.3 77 50 March 6 ‘17
and 199.20 204.70 5.50 5.8 0.1 6 38 April 3 ‘17
and 228.50 233.70 5.20 12.9 0.0 11 162 March 6 ‘17
and 242.00 293.90 51.90 10.1 0.1 624 233 April 3 ‘17
including 279.00 293.90 14.90 20.6 0.2 1524 441 April 3 ‘17
including 279.00 285.40 6.40 37.5 0.4 301 916 April 3 ‘17
A17-056A 286.50 296.00 9.50 9.3 0.3 19 88 South May 3’17
and 309.00 313.10 4.10 18.6 0.1 27 224 May 3’17
including 310.50 313.10 2.60 27.3 0.1 38 336 May 3’17
A17-057 84.90 86.35 1.45 24.8 0.0 62 157 South April 3 ‘17
and 143.70 144.50 0.80 40.4 0.1 138 261 April 3 ‘17
and 157.60 197.70 40.10 9.1 0.2 22 168 April 3 ‘17
including 168.20 177.80 9.60 16.8 0.1 22 299 April 3 ‘17
and 227.15 234.90 7.75 3.5 0.2 21 85 April 3 ‘17
and 264.00 279.30 15.30 20.0 2.5 102 263 April 3 ‘17
including 265.75 269.00 3.25 34.5 2.1 96 196 April 3 ‘17
including 272.50 277.70 5.20 32.5 1.3 69 639 April 3 ‘17
A17-058 103.50 107.70 4.205 20.2 4.2 3294 15 West May 3’17
and 133.25 134.35 1.105 30.3 3.2 500 61 May 3’17
A17-058 did not reach target, lost at 301 metres in sandstone
A17-059 50.30 51.10 0.80 37.5 0.5 69 70 South June 8’17
58.00 60.00 2.00 6.3 0.0 12 30 June 8’17
A17-060 262.40 264.40 2.00 14.8 0.0 35 1178 South May 3’17
and 275.00 279.50 4.50 15.0 0.0 20 383 May 3’17
and 298.00 328.50 30.52 3.4 0.2 10 38 May 3’17
including 303.40 312.00 8.60 5.1 0.1 11 6 May 3’17
A17-061 122.70 150.50 27.80 4.4 0.1 18 24 South May 3’17
including 145.70 147.50 1.805 27.2 0.0 32 157 May 3’17
and 184.00 202.60 18.603 10.4 0.5 52 59 May 3’17
including 196.20 198.80 2.60 23.6 2.4 192 19 May 3’17
including 201.90 202.60 0.70 28.7 3.6 202 41 May 3’17
and 220.00 233.40 13.40 18.7 0.9 57 463 May 3’17
including 224.10 230.00 7.90 29.3 0.8 71 719 May 3’17
and 265.00 266.80 1.80 37.0 0.2 85 808 May 3’17
A17-062 152.40 153.05 0.655 33.6 0.3 166 42 South June 28’17
A17-062 was lost prior to target depth in a fault zone at 313 metres
A17-063 302.20 349.90 47.70 11.3 0.0 18 313 South June 8’17
including 303.30 313.10 9.80 17.4 0.0 28 587 June 8’17
including 327.40 339.60 12.20 17.1 0.0 26 495 June 8’17
A17-064 269.90 270.40 0.50 15.6 0.0 11 304 South June 8’17
and 277.20 277.60 0.40 14.5 0.0 17 39 June 8’17
A17-065 119.00 119.75 0.75 36.6 0.1 88 157 South June 8’17
and 204.00 210.00 6.00 4.0 0.0 4 9 June 8’17
and 219.50 238.80 19.30 4.7 0.0 7 93 June 8’17
including 236.20 238.80 2.60 20.6 0.0 23 529 June 8’17
and 266.40 293.00 26.60 3.6 0.0 4 46 June 8’17
and 307.30 332.00 24.70 3.8 0.0 5 51 June 8’17
and 340.00 346.00 6.00 2.6 0.1 7 16 June 8’17
A17-066 185.20 185.50 0.30 37.8 0.0 40 1330 South June 8’17
and 330.90 334.40 3.50 7.4 0.1 24 111 June 8’17
and 345.00 350.00 5.00 11.3 0.1 37 270 June 8’17
A17-067 256.40 265.00 8.60 2.7 0.2 39 0 South June 28’17
A17-068 343.55 344.30 0.75 6.1 11.6 210 7 Central June 28’17
and 382.00 388.00 6.00 4.0 0.1 46 47 June 28’17
A17-069 182.00 190.00 8.00 3.0 0.5 13 17 South June 28’17
and 261.60 262.30 0.70 17.8 0.0 14 73 June 28’17
and 271.40 300.70 29.30 10.4 0.1 17 278 June 28’17
including 287.30 299.40 12.10 19.1 0.1 25 440 June 28’17
A17-070 100.00 105.10 5.10 6.3 0.6 127 82 South June 28’17
and 306.80 308.40 1.60 15.4 0.1 40 529 June 28’17
and 317.50 356.80 39.306 7.1 0.1 13 100 June 28’17
including 340.00 356.80 16.80 12.9 0.1 19 183 June 28’17
including 340.00 348.00 8.00 20.9 0.1 19 265 June 28’17
A17-071 327.20 350.00 22.80 8.4 0.8 35 17 South July 7’17
including 332.40 345.00 12.60 11.6 0.9 35 30 July 7’17
A17-072 104.80 105.60 0.80 27.0 0.3 73 125 South July 7’17
and 294.50 306.00 11.50 2.9 2.3 781 0 July 7’17
including 302.00 304.00 2.00 5.6 5.5 3167 0 July 7’17
A17-073 no significant results Zone 3 July 7’17
A17-074 71.40 73.60 2.205 31.0 0.1 138 23 West July 7’17
and 148.00 148.70 0.705 18.3 0.3 38 0 July 7’17
A17-075 359.00 379.87 20.80 5.0 0.0 11 44 South July 7’17
including 376.30 379.80 3.50 10.2 0.0 17 96 July 7’17
A17-076 196.70 199.50 2.80 4.5 0.4 54 43 South Aug 15 ‘17
and 264.00 269.90 5.90 1.2 1.0 58 0 Aug 15 ‘17
and 368.00 373.70 5.70 2.4 1.9 55 0 Aug 15 ‘17
A17-077 265.10 268.00 2.90 2.9 2.8 84 0 Central Aug 15 ‘17
and 337.30 339.60 2.30 9.2 0.0 11 79 Aug 15 ‘17
and 348.60 359.60 11.00 2.6 0.7 86 1 Aug 15 ‘17
A17-078 190.00 191.20 1.20 8.9 0.3 380 32 Central Aug 15 ‘17
and 400.10 404.40 4.30 7.8 0.1 4 57 Aug 15 ‘17
A17-079 209.30 225.15 15.85 2.4 1.2 25 0 West Aug 15 ‘17
and 254.40 270.00 15.60 2.4 0.1 5 16 Aug 15 ‘17
and 273.25 309.50 36.25 5.2 0.2 10 65 Aug 15 ‘17
including 304.00 309.50 5.50 12.5 0.0 8 103 Aug 15 ‘17
A17-080 171.70 174.00 2.30 3.5 2.2 58 0 West Aug 15 ‘17
and 291.30 306.50 15.20 6.0 0.0 7 184 Aug 15 ‘17
including 304.70 306.50 1.80 28.4 0.0 34 1400 Aug 15 ‘17
A17-081 no significant results Zone 3 Sep 18 ‘17
A17-082 not sampled - did not reach target depth Chaucha Sep 18 ‘17
A17-083 81.60 84.50 2.90 8.0 0.6 61 133 West Sep 18 ‘17
and 175.80 178.70 2.90 2.9 1.3 46 0 Sep 18 ‘17
and 268.00 278.20 10.20 3.0 0.7 15 3 Sep 18 ‘17
A17-084 no significant results Chaucha Sep 18 ‘17
A17-085 100.00 102.00 2.00 8.3 0.0 10 28 West Sep 18 ‘17
and 292.30 294.10 1.80 9.6 0.1 4 2 Sep 18 ‘17
and 303.10 305.50 2.40 14.3 0.2 18 20 Sep 18 ‘17
A17-086 no significant results Chaucha Sep 18 ‘17
A17-087 133.50 134.40 0.90 9.6 0.1 472 15 South Sep 18 ‘17
and 148.00 150.00 2.00 3.9 0.1 166 9 Sep 18 ‘17
and 242.00 242.80 0.80 7.4 3.3 607 26 Sep 18 ‘17
and 262.90 264.55 1.65 5.4 0.2 84 1 Sep 18 ‘17
A17-088 no significant results Valley Sep 18 ‘17
A17-089 218.60 229.40 10.80 16.7 0.0 33 681 South Sep 18 ‘17
including 218.60 220.40 1.80 35.9 0.0 40 1248 Sep 18 ‘17
including 222.50 225.20 2.70 33.6 0.1 68 1800 Sep 18 ‘17
and 241.00 250.20 9.20 7.9 0.0 18 60 Sep 18 ‘17
including 245.70 246.80 1.10 25.7 0.1 49 355 Sep 18 ‘17
including 249.40 250.20 0.80 35.6 0.1 51 103 Sep 18 ‘17
A17-090 Results pending Valley Pending
A17-091 Results pending Zone 3 Pending
A17-092 Results pending Valley Pending
A17-093 331.50 336.00 4.50 1.4 1.2 59 3 South Here
and 382.00 391.008 9.00 2.7 0.7 51 13 Here
including 388.30 391.00 2.70 6.8 1.1 108 26
A17-094 394.00 395.20 1.20 1.6 2.1 193 0 South Here
A17-095 Results pending South Here
A17-096 241.50 287.00 45.50 7.8 0.0 8 111 South Here
including 250.80 261.40 10.60 15.5 0.1 23 320 Here
and 298.40 300.10 1.70 7.3 0.0 7 46 Here
and 304.80 308.60 3.80 8.3 0.0 6 82 Here
and 315.20 356.00 40.80 9.4 0.1 15 145 Here
including 319.00 324.00 5.00 17.2 0.0 28 591 Here
including 342.60 354.50 11.90 17.4 0.1 20 80 Here
1 hole lost at 293.9 metres; wedged and completed as A17-056A to 376 metres depth
2 includes 0.6 m with no core recovery from 315.2 to 315.8 m; this interval was given a zero grade
3 includes 3.1 m with no core recovery from 198.8 to 201.9 m; this interval was given a zero grade
4 includes a silver assay cut at 1000 g/t; actual assay in A17-056 was 0.2 m at 16,490 g/t Ag, 7.0% Zn & 6.9 % Cu from 287.1 m.
5 high grade vein intercepts with variable true thicknesses
6 includes 4.3 m of no recovery assumed zero grade
7 includes 1.7 m of no recovery assumed zero grade
8 includes 1.3 m of no recovery assumed zero grade
Note: Assays are calculated using a zinc only cut-off grade of 2% over 6 metres

Notes on sampling and assaying

Drill holes are diamond HQ or NQ size core holes with recoveries generally above 80% and often close to 100%. The drill core is marked up, logged, and photographed on site. The cores are cut in half at the Company’s core storage facility, with half-cores stored as a future reference. Half-core is bagged on average over 1 to 2 metre composite intervals and sent to ALS or SGS laboratories in Lima for assay in batches. Standards and blanks are inserted into each batch prior to departure from Tinka’s core storage facilities. At the laboratory samples are dried, crushed to 100% passing 2mm, then 500 grams pulverized for multi-element analysis by ICP using multi-acid digestion. Samples assaying over 1% zinc, lead, or copper and over 100 g/t silver are re-assayed using precise ore-grade AAS techniques.

Table 2. Summary of Drill Collar Information (coordinates are in UTM Zone 18S WGS84 datum)

Drill Hole Easting Northing Total depth (m) Elevation (m) Azimuth Dip
A17-056 333046 8845062 293.9 4202 300 -75
A17-056A 333046 8845062 376.4 4202 300 -75
A17-057 333046 8845062 477.0 4202 300 -55
A17-058 332557 8845657 301.0 4299 040 -82
A17-059 332840 8845192 248.9 4209 120 -85
A17-060 333174 8845005 358.4 4218 300 -70
A17-061 333058 8844996 326.9 4191 290 -67
A17-062 333175 8845004 309.0 4218 000 -90
A17-063 333241 8845118 416.6 4229 310 -70
A17-064 333062 8844993 369.1 4191 290 -50
A17-065 333174 8845090 366.3 4225 300 -75
A17-066 333345 8845193 371.6 4211 310 -70
A17-067 333059 8844996 302.8 4190 120 -85
A17-068 333552 8845279 419.7 4185 310 -75
A17-069 333114 8845103 374.3 4210 300 -65
A17-070 333152 8845150 367.8 4230 310 -75
A17-071 333328 8845044 383.3 4202 310 -70
A17-072 333114 8845103 445.9 4233 300 -53
A17-073 334458 8846616 710.0 4024 210 -75
A17-074 332666 8845491 429.6 4124 015 -75
A17-075 333434 8845121 395.3 4201 310 -70
A17-076 333155 8845153 420.7 4230 310 -55
A17-077 332966 8845460 416.2 4243 130 -70
A17-078 333656 8845227 477.2 4174 310 -75
A17-079 332919 8845717 322.6 4223 310 -65
A17-080 332915 8845805 335.4 4220 310 -70
A17-081 334696 8846099 506.8 4151 190 -70
A17-082 333774 8847585 67.2 3922 290 -65
A17-083 332968 8845607 317.6 4216 310 -70
A17-084 333694 8847613 123.1 3938 300 -75
A17-085 332903 8845938 346.6 4250 310 -70
A17-086 333693 8847613 217.9 3938 300 -50
A17-087 333005 8844940 316.8 4160 290 -72
A17-088 332689 8846884 224.6 4163 170 -65
A17-089 333003 8844943 330.1 4160 325 -60
A17-090 333099 8846807 213.9 4135 240 -60
A17-091 334043 8846140 480.6 4093 35 -70
A17-092 333101 8846805 270.6 4134 240 -45
A17-093 333551 8845146 408.0 4179 310 -75
A17-094 333678 8845009 418.6 4157 310 -80
A17-095 332840 8845199 362.1 4203 120 -75
A17-096 333174 8845088 366.3 4218 270 -65
A17-097 333331 8845046 370.0 4203 130 -85
A17-098 333172 8845090 352.7 4218 140 -80
A17-099 333435 8845122 400.7 4191 130 -85
A17-100 333810 8845256 450.0 4161 130 -85
A17-101 333346 8845194 450.0 4208 250 -75

On behalf of the Board,

Graham Carman

Dr. Graham Carman, President & CEO

Investor Information:
www.tinkaresources.com

Rob Bruggeman 1.416.884.3556
rbruggeman@tinkaresources.com
Company Contact:

Mariana Bermudez, 1.604.699.0202
info@tinkaresources.com

About Tinka Resources Limited

Tinka is an exploration and development company with its flagship property being the 100%-owned Ayawilca carbonate replacement deposit (CRD) in the zinc-lead-silver belt of central Peru, 200 kilometres northeast of Lima. The Ayawilca Zinc Zone has an Inferred Mineral Resource of 18.8 Mt at 5.9 % zinc, 0.2 % lead, 15 g/t silver & 74 g/t indium, and a Tin Zone Inferred Mineral Resource of 5.4 Mt at 0.76 % tin, 0.31 % copper & 18 g/t silver (May 25, 2016). A significant resource expansion drill program began in February 2017 and is ongoing.

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, drilling results, 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 agreements and 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