Help Desk -
9958816305, 9810335381
Email
Password

Tinka Resources announces an update of exploration results at the Ayawilca project in central Peru

Mining News - Published on Mon, 22 Oct 2018

Image Source: Junior Mining Network
Tinka Resources Limited announced an update of exploration results at the Ayawilca project in central Peru, including results for ten recent drill holes.

Key highlights:
Four resource step-out holes were drilled at South, Central and West Ayawilca. Hole A18-152 is a 60 metre step-out from known mineralization at South Ayawilca. Hole A18-158 is a 100 metre step-out from known mineralization at Central Ayawilca. A18-125 is a new intersection at Zone 3. Highlights include:
A18-152:
1.2 metres at 13.8% zinc, 0.8% lead, 817g/t silver and 64g/t indium from 156.3 metres depth.
A18-158:
1.5 metres at 9.6% zinc, 1.2% lead and 32g/t indium from 458.4 metres depth.
A18-125:
1.4 metres at 22.7% zinc & 99 g/t indium from 531.4 metres depth.Note: Intercepts above are down-hole intercepts of 'mantos' hosted by limestone or sandstone. True thicknesses of the mantos are estimated to be at least 90% of the down-hole intercepts.

Three holes were drilled to test outcropping silver-lead-zinc carbonate veins at the "Vetas" area, a target drilled for the first time in 2018. High-grade silver intercepts occur with visible 'ruby silver' minerals and associated base metal sulphides in multiple vein structures. The grade - thickness of intercepts improve with depth due to a more favourable host rock (sandstone). The epithermal silver-lead-zinc carbonate vein system remains open and untested along strike and at depth. Highlights include:

Hole A18-131:
2.5 metres (true width) at 665 g/t silver, 1.4% zinc & 1.9% lead from 264.0 m depth, including 1.5 metres (true width) at 925 g/t silver, 1.5% zinc & 2.8% lead from 266.0 m depth.
Tinka has drilled 20,200 metres at Ayawilca in 56 holes during the 2018 drill campaign, mostly as resource step-out holes. New zinc discoveries at West Ayawilca and the Camp areas, in particular, have significantly extended the mineralization beyond the existing resources (current estimated inferred mineral resources contain 5.6 billion pounds of zinc, 3,300 tonnes of indium, and 23 million ounces of silver with an additional 66,000 tonnes of tin; Nov. 2017 news release). The 2018 drill campaign has now ended, as planned, allowing our technical team to compile all geological data and finalize interpretations.

Roscoe Postle Associates Inc (RPA) of Toronto has been appointed as independent consultant to undertake a mineral resource update, which is expected to be finalized by November 2018.

A Preliminary Economic Assessment (PEA) is scheduled for the first half of 2019.

Dr Graham Carman, Tinka´s President and CEO, said that "Tinka has been drilling continuously at Ayawilca for 20 months since February 2017, having drilled more than 40,000 metres during that time. The Company is now focusing on compiling and analyzing the large quantity of drill hole information, completing a mineral resource update, expanding metallurgical test work, and advancing the project to a PEA in 2019. Tinka is well positioned financially with C$13 million in cash reserves at the end of September 2018 and no debt."

Source :

Posted By : Rabi Wangkhem on Mon, 22 Oct 2018
Related News from Mining segment