Tinka Drills 24 Metres of 2.8% Zinc and 6.3 Metres of 6.19% Zinc at Ayawilca Project, Peru
January 15, 2014 (Source: Marketwired) — Tinka Resources Limited (the “Company”), (TSX VENTURE:TK)(PINKSHEETS:TKRFF)(FRANKFURT:TLD), announces the analytical results for holes A13-14 to A13-17 at the Company’s 100% owned Ayawilca project, located in west-central Peru. See table below for a list of significant mineralized intervals.
Mr Carter said: “The Company is pleased with these intercepts of zinc mineralization as they continue to demonstrate the potential of the Ayawilca project. Although the drill sections are spaced widely apart, mineralization has now been traced for 1,000 m between the site of holes A13-05, A13-06 to the west and holes A13-16, A13-17 to the east. The mineralization appears to be spatially-related to the geophysical anomalies in all cases. Drilling is currently underway 130 metres to the north of these holes.”
Hole A13-15 is located on section 333300E, about 100 m west of the highly significant intercept found in hole A12-08 (see press release dated Jan. 8, 2013.) Massive and semi-massive sulphides were intersected between 321.1 m and 344.4 m depth with locally moderate concentrations of sphalerite in a matrix dominated by pyrite and pyrrhotite.
Drill holes A13-16 and A13-17 were collared along section 333900E about 570 m northeast of A12-08. Both of these holes targeted an area where old workings are located along mineralized fault structures that cut the overlying sandstone formation. This site is also along the western margin of large, coincidental magnetic and chargeability (IP) anomalies measuring about 700 m east-west and 700 m north-south, respectively.
In hole A13-16 (-60 degrees north), semi-massive sulphides were intersected between 354.9 m and 359.1 m and consisted of sphalerite and pyrite associated with strong chlorite and moderate magnetite alteration. Semi-massive sulphides, consisting of weak to moderate sphalerite, accompanied by strong chlorite and moderate magnetite alteration, occurs between 376.3 m and 394.1 m, from 436.0 m to 436.4 m and from 440.6 m to 443.5 m. The massive pyrrhotite horizon found above the metamorphic basement rocks in many of the holes is absent here.
Semi-massive sulphides (pyrite and sphalerite), along with moderate chlorite and magnetite alteration, occur between 329.6 m and 352.6 m depth in hole A13-17 (-75 degrees north). Sphalerite, plus some galena, were found between 373.1 m and 378.9 m with the same style of alteration. Massive pyrrhotite, containing pyrite, sphalerite and lesser chalcopyrite, occurs from 380.1 m and 405.6 m depth.
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Significant mineralized intervals using 15 g/t Ag, 1% Pb and 1% Zn as lower cut-off levels
The geometry of and controls to the mineralization are not yet fully understood, but a series of intersecting fault structures that underlie Ayawilca are believed to be the source conduits. The irregular nature of this replacement style mineralization hampers any meaningful interpretation of the strike, dip and true thickness of the zone(s), intercepted in these and previously reported drill holes, at this time.
The reader is invited to visit the Company’s website to view diagrams of the drill hole locations and geophysical anomalies in the corporate and technical presentations.
All diamond drilling has been performed using HQ diameter drill rods, reducing to NQ diameter if required. All core has been logged and split on site under the supervision of Tinka geologists with sampling done on nominal 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 qualified person for the Company’s projects, Mr. John Nebocat (P.Eng.), V.P. of Exploration for the Company, has reviewed and approved the contents of this news release.
About Tinka Resources Limited (TSX VENTURE:TK).
Tinka is a junior resource acquisition and exploration company. Tinka’s focus is on its 100% owned Colquipucro and Ayawilca projects located in the highly mineralized silver-lead-zinc belt of Central Peru.
On behalf of the Board,
Andrew Carter, President & CEO
Forward Looking Statements This Company news 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 available to the Company’s management as of the date of this news release. 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 including local communities and landholders, the interest rate environment, governmental regulation and supervision, seasonality, 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 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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>