Tinka drills 48 metres grading 11.3 % zinc

Tinka Resources Ltd. [TK-TSXV; TKRFF-OTC] reported results of five additional drill holes from its 100%-owned Ayawilca zinc project in central Peru. All five holes are from the South Ayawilca area. Hole A17-063 has returned one of the best intersections of zinc mineralization at Ayawilca to date: 47.7 metres grading 11.3% zinc, also with high indium credits. Hole A17-063 lies 200 metres northeast of the South Ayawilca discovery hole A17-056, which intersected two high grade zinc sulphide zones including 17.9 metres at 11.6 % zinc and 51.9 metres at 10.1% zinc.

Drill results reported so far in 2017 have defined high grade zinc mineralization at South Ayawilca over a northeast-southwest strike length of 370 metres, connecting the South Ayawilca discovery area to the Central Ayawilca zinc resource.

Key Highlights

Hole A17-059: 0.8 metres at 37.5 % zinc, 0.5 % lead & 69 g/t silver from 50.3 metres depth (vein).

Hole A17-063: 47.7 metres at 11.3 % zinc, 18 g/t silver & 313 g/t indium from 302.2 metres depth, including 9.8 metres at 17.4 % zinc, 28 g/t silver & 587 g/t indium from 303.3 metres depth; and 12.2 metres at 17.1 % zinc, 26 g/t silver & 495 g/t indium from 327.4 metres depth.

Hole A17-064: 0.5 metres at 15.6 % zinc, 11 g/t silver & 304 g/t indium from 269.9 metres depth; and 0.4 metres at 14.5 % zinc, 17 g/t silver & 39 g/t indium from 277.2 metres depth.

Hole A17-065: 19.3 metres at 4.7 % zinc, 7 g/t silver & 93 g/t indium from 219.5 metres depth, including 2.6 metres at 20.6 % zinc, 23 g/t silver & 529 g/t indium from 236.2 metres depth; and

26.6 metres at 3.6 % zinc, 4 g/t silver & 46 g/t indium from 266.4 metres depth; and 24.7 metres at 3.8% zinc, 5 g/t silver & 51 g/t indium from 307.3 metres depth.

Hole A17-066: 3.5 metres at 7.4 % zinc, 24 g/t silver & 111 g/t indium from 330.9 metres depth, and 5.0 metres at 11.3 % zinc & 37 g/t silver & 270 g/t indium from 345.0 metres depth.

Dr. Graham Carman, Tinka´s President and CEO, stated: “These latest drill results continue to show strong zinc mineralization in our step-out drill program at South Ayawilca. There now appears to be continuity of the zinc mineralization between South & Central Ayawilca, which could add an additional 500 metres of mineralization along strike extension to our existing resources. Massive to semi-massive sulphides occur throughout the mineralized sequence. We are finding that the zinc mineralization is zoned around iron sulphides (mostly pyrrhotite with lesser pyrite) which may also host tin mineralization (note: tin assays are pending). We have also encountered an important northeast-trending fault, and can confirm that post-mineral movement has displaced mineralization laterally which opens additional exploration opportunities.”

The company has now released results from 11 drill holes of an estimated total of 30 holes planned for 2017. Seventeen holes have been completed. There are currently two rigs drilling at South and Central Ayawilca focusing on resource expansion and connection of these areas. A third drill rig is currently testing the possible extensions of West Ayawilca. A fourth rig has started at Zone 3, a new area located 700 hundred metres northeast of the existing zinc resource area. Refer to maps and tables on company website.

Zinc mineralization is associated with gently dipping, massive to semi-massive, sulphide replacements of carbonate and clastic sediments. Minor veins are also noted. True thicknesses of the zinc intersections are estimated to be at least 85% of the downhole thickness, except where otherwise noted in Table 1. All significant results of the 2017 program are summarized in Table 1 with the strongest intercepts in bold text.

Tinka is an exploration and development company with its flagship property being the 100%-owned Ayawilca carbonate replacement deposit (CRD) in the zinc-lead-silver belt of central Peru, 200 km northeast of Lima. The Ayawilca Zinc Zone has an inferred resource of 18.8 Mt at 5.9 % zinc, 0.2 % lead, 15 g/t silver & 74 g/t indium, and a Tin Zone inferred resource of 5.4 Mt at 0.76 % tin, 0.31 % copper & 18 g/t silver. Both resources are open for expansion.

The Silver Zone at Colquipucro, 2 km north of the Zinc Zone, has an indicated resource of 2.9 Mt at 112 g/t silver for 10.4 Moz silver and an inferred resource of 2.2 Mt at 105g/t silver for 7.5 Moz silver hosted by oxidized lenses between the surface and 80 metres depth.