Tinka expands zinc, tin, copper mineralization at Ayawilca, Peru

Drill intercepts include 77.1 metres at 4.0 % zinc in A14-33, and 11.8 metres at 13.9 % zinc & 276 g/t indium in A14-26

TSXV: TK

VANCOUVER, Feb. 10, 2015 /CNW/ - Tinka Resources Limited ("Tinka" or the "Company ") (TSXV: TK) (OTCPK: TKRFF) is pleased to announce results of the final twelve holes of its sixteen hole program consisting of 6,386 metres completed during Q4 2014 at Ayawilca, central Peru.  Significant mineralization was intersected in all holes.  These results continue to confirm Ayawilca is a district-scale, zinc, copper and tin discovery. To date, diamond drilling has identified mineralization within a footprint of 1.5 kilometres by 0.75 kilometres, and all areas remain open along strike.

Best drill results include:

West Ayawilca

• A14-33: 77.1 metres at 4.0 % zinc from 268.0 metres depth, including 8.8 metres at 13.5 % zinc from 270.9 metres depth;
• A14-26: 43.8 metres at 5.4 % zinc and 76 g/t indium from 260.0 metres depth, including 11.8 metres at 13.9 % zinc and 276 g/t indium from 292.0 metres depth;
• A14-27: 30.0 metres at 0.15 % tin and 0.28 % copper from 354.0 metres depth;

East Ayawilca

• A14-24: 46.5 metres at 4.0 % zinc and 88 g/t indium from 319.5 metres depth;
• A14-29: 42.0 metres at 3.3 % zinc from 400.0 metres depth, including 12.0 metres at 7.0 % zinc from 400.0 metres depth;
• A14-31: 12.0 metres at 5.2 % zinc, 1.8 % lead, 97 g/t silver and 100 g/t indium from 200 metres depth;
• A14-28: 62.7 metres at 0.26 % tin, 0.17 % copper and 0.5 % zinc from 452.0 metres depth;

North Ayawilca

• CDD46: 10.5 metres at 0.82 % tin and 0.10 % copper from 252.0 metres depth.

Dr. Graham Carman, Tinka's President and CEO, stated: "These new results continue to show the outstanding zinc, tin, and copper potential, and the large scale of the Ayawilca discovery (Figure 1).  Important recent zinc intersections include A14-33 (77.1 metres at 4.0 % zinc) and A14-26 (43.8 metres at 5.4 % zinc & 76 g/t indium) at West Ayawilca.  Importantly, this program was also successful in finding new mineralized zinc structures, trending north to northwest. At East Ayawilca, strong zinc mineralization was intersected in three holes including A14-24 (46.5 metres at 4.0 % zinc & 88 g/t indium), and A14-29 (42.0 metres at 3.3 % zinc).

"Significant tin-copper mineralization lying beneath the zinc mineralization, previously identified in November 25, 2014, was intersected in three holes including A14-28 (62.7 metres at 0.26 % tin and 0.17 % copper).  Two previous holes, A13-11 and A13-12A, were stopped in high-grade tin mineralization (Table 1).  The tin - copper footprint at Ayawilca, defined by drilling, now covers 1 kilometre by 0.5 kilometres, trending northeast, and open along trend (Figures 2 & 3).  Currently, tin – copper mineralization occurs within massive sulphide lenses and in quartz veinlet 'stockworks' in metamorphic rocks, highlighting the potential for a large tin – copper porphyry system underneath Ayawilca."

Planned Work Program

Drilling is now on hold to allow for the full interpretation and integration of the data. The Company is requesting an extension of the drill permits to allow new prospective areas to be drill tested, including Zone 3, Chaucha, North Ayawilca (CDD46 and surrounds – Figure 1), and Southwest Ayawilca.

The Company has also begun work on a zinc resource/target statement at Ayawilca, compiled by an independent consultant.  A resource upgrade is also underway at the Colquipucro silver oxide project, located 2 kilometres north of Ayawilca (Figure 1). These important milestones for the Company are expected to be completed by March 2015.

Geophysical prospecting (including deep IP) is planned for Ayawilca during Q2 2015, to identify additional zinc structures and sulphides, and sulphide mineralization which could be associated with a deep tin - copper system. Subject to financing, an 8,000 to 10,000 metre drill program is planned for Ayawilca in 2015. 

The Company has initiated a re-assaying program, utilizing sample pulps from past drill programs, of all historic drill holes to determine the potential for indium and germanium occurring with the zinc mineralization.  These are high-value specialty metals used in the high-technology industry.  A summary of this re-assay program will be released shortly, on receipt of all geochemical data.

Geology of Ayawilca

Zinc mineralization at Ayawilca occurs as massive to semi-massive sulphide replacements of a sedimentary sequence consisting of sedimentary breccia, siltstone, shale and limestone up to 250 metres thick in a Cretaceous-age sequence known as "Oyon Formation".  Recent drilling has provided new information on the orientation of the zinc mineralized bodies at Ayawilca, which are now interpreted to be controlled by multiple, sub-parallel, northwest to north-northwest trending structures.  The mineralized structures at West Ayawilca and East Ayawilca remain open along strike. The zinc mineralization is interpreted to be generally gently-dipping, replacing favourable sedimentary units. The zinc occurs as various generations of sulphide impregnations (sphalerites) accompanied by abundant pyrite, pyrrhotite, chlorite, iron carbonate, and magnetite. Minor sulphides include galena, chalcopyrite, and arsenopyrite.  "Goyllar Group"sandstone about 150 metre thick, overlies the Oyon Formation.  The sandstone largely forms a barren 'cap' to the mineralization, although narrow zinc veins (<1 - 3 metres across) also cut the sandstones sporadically. 

Massive to semi-massive pyrrhotite (magnetic iron sulphide) lenses underlie the Oyon Formation at Central and East Ayawilca (Figures 2 & 3).  The pyrrhotite bodies, which vary from a few metres to tens of metres in thickness, host tin - copper mineralization in the form of disseminated cassiterite and chalcopyrite.  "Excelsior Group" phyllite metamorphic rocks underlie the Oyon Formation and pyrrhotite lenses.  Quartz-sulphide-cassiterite stockwork veins in the phyllite host tin – copper mineralization at Central Ayawilca. 

**The zinc mineralization is interpreted to be generally gently-dipping, replacing favourable sedimentary units. The true widths of the intercepts are believed to be at least 75% of the down-hole widths (see Table 1). Table 2 summarises the key drill hole collar information to date.**

The qualified person, Dr. Graham Carman, Tinka's President and CEO, and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the technical contents of this release. 

About Tinka Resources Limited

Tinka is a resource acquisition and exploration company with projects in Peru.  Tinka's focus is on its 100%-owned Ayawilca and Colquipucro projects in the highly mineralized zinc-lead-silver belt of central Peru, 200 kilometres north of Lima. The Ayawilca project, located 40 kilometres from Peru's largest historic zinc mine, Cerro de Pasco, has the potential to be a major zinc sulphide discovery.  The nearby Colquipucro silver oxide project is a near-surface, sandstone hosted silver oxide deposit with a current inferred resource containing 32 million ounces silver with potential for expansion. 

On behalf of the Board,

"Graham Carman"
Dr. Graham Carman, President & CEO

Forward Looking Statements. Certain information in this news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively "forward-looking statements").  All statements, other than statements of historical fact are forward-looking statements. Forward-looking statements are based on the beliefs and expectations of Tinka as well as assumptions made by and information currently available to Tinka's management.  Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, capital and other costs varying significantly from estimates, production rates varying from estimates, changes in world metal markets, changes in equity markets, uncertainties relating to the availability and costs of financing needed in the future, equipment failure, unexpected geological conditions, imprecision in resource estimates or metal recoveries, success of future development initiatives, competition, operating performance, environmental and safety risks, delays in obtaining or failure to obtain necessary permits and approvals from local authorities, community relations, and other development and operating risks. 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.  Although Tinka believes that assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, Tinka disclaims any intent or obligation to update any forward-looking statement.

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.

Notes on drill program:

All 16 holes in the recent 6,386 metre Ayawilca drill program were diamond HQ bore holes.  Holes were generally stopped a few metres into the basement phyllite rocks, but were continued at least 50 metres into phyllite if significant quartz - sulphide - cassiterite stockwork veins were noted.  Drill holes were typically angled between 70 degrees and 85 degrees to the horizontal.  Earlier programs used 60 degree drill angles in some holes.

The down-hole zinc intersections, using a 1% Zn cut-off grade (over 6 metre intervals), are summarized in Table 1.  True widths of the intercepts are believed to be at least 75% of the down-hole widths, as the mineralization is interpreted to be generally gently dipping.  

Notes on core sampling:

All holes are diamond cores with recoveries generally at or close to 100%.  The drill core is marked up, logged, and photographed on site.  The cores are then cut in half at the Company's core storage facility with half-cores stored as a future reference.  The other half-core is bagged on average over 2 metre composite intervals and sent to SGS laboratory in Lima for assay in batches.  Standards and blanks are inserted into each batch prior to departure from the Company's core storage facilities.  At the laboratory, samples are dried, crushed to 100% passing 2mm, then 500 grams pulverized for multi-element analysis by ICP using multi-acid digestion. Samples assaying over 1% zinc, lead, or copper are reassayed using precise ore-grade AAS techniques. Samples which assayed approximately 200 ppm tin or greater in the ICP analysis were re-assayed for tin by fusion with sodium peroxide and AAS finish (SGS Lima laboratory method SGS-MN-ME-112). 

Notes on assay results (see Table1):

Zinc intersections have been calculated on the basis of a 1% zinc cut-off over 6 metre intervals. Tin – copper intersections are calculated using a 0.2% tin or copper cut off. 

Notes on drill hole data:
Eastings and Northings are based on the PSAD56/18S UTM datum.  The coordinates for the drill holes were surveyed with a theodolite from several published survey points at the project. Elevations were taken from a measured topographic model compiled from field surveys using theodolite from known surveyed points at a scale of 1:1000.  Azimuth and dip measurements of drill holes were taken using compass and inclinometer at surface. All holes from A13-10 onwards were down-hole surveyed; small variances in both azimuth and dip do occur down hole but are not shown here.

SOURCE Tinka Resources Ltd.