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Tinka Resources announces drill program at Ayawilca project

Mining News - Published on Wed, 06 Mar 2019

Image Source: Twitter
Tinka Resources Limited announced details of its upcoming exploration
drill program and provide an update on the Preliminary Economic Assessment for the Ayawilca zinc project, Peru.

Key Highlights
• An exploration drill program of up to 10,000 metres is anticipated to commence in April 2019. Exploration drilling will target structural repeats of the mineralized limestone beneath the current high-grade zinc resources at West, South, and Central Ayawilca. Drilling during 2018 confirmed that a deeper limestone unit exists and can host exceptional grade (including 10.4 mat 44% Zn in A18-129).
• The Company's PEA is progressing well and is expected to be completed by mid 2019. The PEA, which is managed by Wood (Peru) as lead consultant, will not be impacted by the upcoming exploration drill program. Metallurgical test work on samples containing tin is currently being conducted as part of the PEA.
• This week, the Company filed an EIA modification for Ayawilca, which will extend the drill permit for an additional 2 years until the end of 2022. Once granted, the permit will allow sufficient drill platforms for a future Prefeasibiiity-stage infill drill program. The EIA modification is not required for the 2019 drill program, and is expected to be granted Q4 2019.
• Tinka will be represented by its senior management and geological team at the Prospectors and Developers Association of Canada annual conference in Toronto from March 3 - 6 at booth 2937 in the Investors Exchange. Tinka will provide a brief corporate presentation in room 803 in the South Building of the Metro Toronto Convention Centre at 10:30am EST on Tuesday, March 5, and a technical presentation as part of the New Discoveries and Developments Session in room 716 of the MTCC at 9:10am EST on Wednesday, March 6.

Dr Graham Carman, Tinka's President and CEO stated that "The Zinc Zone resources at Ayawilca have quadrupled since the initial resource estimate in 2015 (see news release dated Nov. 26, 2018). While the Ayawilca Zinc Zone resource is already large and high grade, we believe there is still more potential for growth. The upcoming exploration drill program will test for zinc mineralization in repetitions of the favourable limestone beneath the high-grade zinc resources, as well as provide valuable infill drill information within the existing shallow resources. Six drill holes, each to a depth of600 metres, are currently planned at West, South, and Central Ayawilca. If successful, this deep drill program could add significant upside to the project."
"The Ayawilca PEA is advancing as planned, with a top group of consultants managing engineering and metallurgical test work on behalf of Tinka. The PEA will provide a preliminary gauge of the economic value of the current resource at Ayawilca, and we believe this study will be an excellent first step towards the ultimate development of the project."

Source :

Posted By : Rabi Wangkhem on Wed, 06 Mar 2019
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