Tinka Files Amended Technical Report on the Colquipucro Project, Central Peru
April 9, 2014 (Source: Marketwired) — Global inferred resource estimate using 15 g/t and 30 g/t cut-off reduced by 2.1% and 7.5% respectively
Tinka Resources Limited (the “Company”) (TSX VENTURE:TK) announces that further to its news releases dated March 27, 2014 and March 12, 2014, it has filed an amended technical report on its Colquipucro Project titled “Amended and Restated Progress Report on the Geology, Exploration and Mineral Resources of the Colquipucro Project, Department of Pasco, Peru” dated September 21, 2012, amended April 2, 2014 (the “Amended and Restated Technical Report”) prepared for the Company by John Nebocat, P. Eng., in accordance with National Instrument 43-101. A copy of the full Amended and Restated Technical Report is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.tinkaresources.com.
The Amended and Restated Technical Report contains a revised inferred resource estimate, addresses certain deficiencies in the previously filed report and provides additional information and clarification about interpretation and parameters used in this estimate.
The resource estimate is separated into two blocks, the upper sandstone and lower units. The revised sandstone inferred estimate contains 9,220,960 tonnes averaging 80.6 g/t (2.35 oz/t) using a 15 g/t cut -off and 5,936,548 tonnes averaging 114.3 g/t (3.33 oz/t) using a 30 g/t cut-off. This is equivalent to 23,890,861 and 21,821,145 contained ounces and reflects an overall increase in contained ounces of 11.6% and 11.2%, respectively.
By the elimination of certain isolated, deeper resource polygons contained within the lower units, the resources contained within it are now 2,892,569 tonnes averaging 87.6 g/t (2.55 oz/t) using a 15 g/t cut-off, and 1,254,350 tonnes averaging 137.3 g/t (4.00 oz/t) at a 30 g/t cut-off. This is equivalent to 8,144,869 and 5,535,062 contained ounces and reflects a reduction of 33.2% and 44.8%, respectively.
Global inferred resources now report at 12,113,530 tonnes grading 82.3 g/t (2.40 oz/t) silver using a 15 g/t cut-off, and 7,190,898 tonnes grading 118.3 g/t (3.45 oz/t) using a 30 g/t cut-off. This equates to 32,035,730 and 27,356,207 contained ounces and reflects an overall reduction in contained ounces of 2.1% and 7.5%, respectively.
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Revised 2014 Zone 1 Inferred Silver Resources (Uncut)
|Cut-off||15 g/t Ag||15 g/t Ag||15 g/t Ag||30 g/t Ag||30 g/t Ag||30 g/t Ag|
|Sandstone||9,220,960||80.6 (2.35||)||23,890,861||5,936,548||114.3 (3.33||)||21,821,145|
|Lower Units||2,892,569||87.6 (2.55||)||8,144,869||1,254,350||137.3 (4.00||)||5,535,062|
|Global||12,113,530||82.3 (2.40||)||32,035,730||7,190,898||118.3 (3.45||)||27,356,207|
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 release may include certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this 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>