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Tinka more than doubles inferred mineral resources at Ayawilca: 42.7 million tonnes grading 7.3 % zinc equiv., & 10.5 million tonnes grading 0.70 % tin equiv.

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PR Newswire

VANCOUVER, Nov. 8, 2017 /PRNewswire/ - Tinka Resources Limited ("Tinka" or the "Company") (TSXV & BVL: TK) (OTCPK: TKRFF) is pleased to announce a Mineral Resource update for its 100%-owned Ayawilca zinc- indium-silver-lead sulphide deposit in Peru which includes the addition of ~15,000 metres of drilling completed so far in 2017.  The zinc resource at Ayawilca is now estimated to be 42.7 million tonnes grading 7.3 % zinc equivalent (ZnEq).  In addition, Tinka announces an updated tin-copper-silver resource estimated to be 10.5 million tonnes grading 0.70% tin equivalent (SnEq).  The Tin Zone and Zinc Zone resources do not overlap.  Both of the Mineral Resources were assigned to the Inferred category and reported at an NSR cut-off value of US$55/tonne, as estimated by Roscoe Postle Associates Inc. (RPA Inc.) of Toronto, Canada.  Drilling beyond the Mineral Resource boundaries is continuing. 

Key Highlights of Resource Updates

  • Inferred Zinc Mineral Resource of 42.7 million tonnes grading 6.0 % zinc, 0.2 % lead, 17 g/t silver & 79 g/t indium (7.3 % ZnEq), including:
    • 5.6 billion pounds of zinc;
    • 3.4 tonnes of indium;
    • 23.1 million ounces of silver; and
    • 209 million pounds of lead.
  • Inferred Tin Mineral Resource of 10.5 million tonnes grading 0.63 % tin, 0.23 % copper, & 12 g/t silver (0.70 % SnEq), including:
    • 145 million pounds of tin;
    • 53 million pounds of copper; and
    • 4.2 million ounces of silver.

Dr. Graham Carman, Tinka's President and CEO, stated: "These updated Mineral Resource estimates are a major milestone for the Company. Ayawilca now has 5.6 billion pounds of contained zinc classified as Inferred resources, with significant potential for more as the resources are open in several directions. The updated Zinc mineral resource shows a 130 % increase in total contained pounds of zinc since the last resource estimate (May 2016), and a 127 % increase in overall tonnage (from 18.8 Mt to 42.7 Mt).  The zinc grade has gone up slightly to 6.0 % Zn (from 5.9 % Zn) while the zinc equivalent grade has decreased to 7.3 % ZnEq (from 8.2 % ZnEq) due to a higher zinc price and a lower indium price. Importantly, South Ayawilca now forms a high-grade core with 13.3 million tonnes grading 7.6 % Zn (9.5 % ZnEq) – see Table 3.  In addition, the Tin Mineral Resource has increased by 60 % since the last resource estimate (May 2016) to now include 145 million pounds of contained tin."

"I am very pleased to report that Tinka has exceeded its two initial objectives for the year; firstly, an additional high-grade zinc discovery was made at South Ayawilca; secondly, we doubled the contained pounds of zinc in the resources. Furthermore, Tinka is continuing to aggressively drill outside of the resource areas looking for new zinc discoveries and/or extensions of known mineralization - one rig is currently drilling at Zone 3, while the second rig is testing the extensions of West Ayawilca."

Table 1 – Ayawilca Deposit Inferred Mineral Resources – Zinc Zone (Base Case Highlighted)

NSR $/t Cut-off

Tonnage (Mt)


ARIVA.DE Börsen-Geflüster

Kurse

0,0971 $
-0,92%
Tinka Resources Chart

ZnEq% Grade

Zinc %

Lead %

Indium g/t

Silver g/t

40

47.2

6.9

5.6

0.2

74

16

50

44.6

7.1

5.8

0.2

77

17

55

42.7

7.3

6.0

0.2

79

17

60

40.1

7.5

6.1

0.2

82

17

70

33.8

8.1

6.6

0.2

92

18

See Table 3 for notes.

Table 2 – Ayawilca Deposit Inferred Mineral Resources – Tin Zone (Base Case Highlighted)

NSR $/t Cut-off

Tonnage (Mt)

SnEq% Grade

Tin %

Copper %

Silver g/t

40

10.9

0.68

0.61

0.23

12

50

10.7

0.70

0.62

0.23

12

55

10.5

0.70

0.63

0.23

12

60

9.9

0.72

0.64

0.24

13

70

8.3

0.78

0.70

0.24

13

See Table 4 for notes.

Detail of Mineral Resource Estimates

RPA updated the Ayawilca Mineral Resource estimate using the drill results available to October 10, 2017 (Tables 3 and 4).   Two types of mineralization occur at Ayawilca, tin-copper mineralization ("Tin Zone") and the zinc-indium-silver-lead mineralization ("Zinc Zone").

The Zinc Zone Mineral Resources are hosted by Triassic Pucará Group limestone approximately 200 metres thick and located beneath the Goyllarisguizga Group sandstone unit which outcrops, and hosts the Colquipucro silver oxide deposit located 1.5 km to the north.  The Zinc Zone deposit is made up of multiple, gently dipping lenses or 'mantos' in the Central and East Ayawilca zones and as massive replacement bodies within structural zones in the West and South Ayawilca zones, all located above Paleozoic basement rocks.  The bulk of the polymetallic mineralization in central Peru is located in a similar geological environment.  Inferred Mineral Resources within the Zinc Zone, reported at a US$55/t Net Smelter Return (NSR) cut-off value, are estimated to total 42.7 million tonnes at average grades of 6.0 % Zn, 79 g/t In, 17 g/t Ag, and 0.2 % Pb. 

The increase in tonnage and zinc grade as compared to the May 2016 Mineral Resource estimate is due to an increase in volume of the interpreted mineralized zones as a result of the addition of the high-grade South Zone discovered during the 2017 drilling campaign, higher metal prices, and lower cut-off value. 

Table 3 – Zinc Zone Inferred Mineral Resources at Ayawilca as of October 10, 2017












Zone

Tonnage
(Mt)

ZnEq
(%)

Zn
(%)

Pb
(%)

In
(g/t)

Ag
(g/t)

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