Tinka Resources drills 10.9% zinc over 145.2 metres at Ayawilca, Peru

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Tinka Resources Ltd. [TK-TSXV, BVL; TKRFF-OTCQB] reported results for six recent drill holes from the continuing infill and resource expansion drill program at the 100%-owned Ayawilca project in central Peru. All six drill holes are infill holes from the South Ayawilca area. Hole A23-212 returned much better than expected results with a thick and high-grade zinc intersection of 145.2 metres grading 10.9% zinc (estimated true thickness of approximately 100 metres) including 29.3 metres grading 20.2% zinc from a shallow depth of 158 metres. The drill program at South Ayawilca continues to exceed our expectations with respect to the continuity of the ultrahigh zinc grades. Drilling is expected to continue with two rigs until the end of April.

Key highlights of recent South Ayawilca drill holes: Hole A23-212 returned 145.2 metres at 10.9% zinc from 158.2 metres depth, including 29.3 metres at 20.2% zinc from 158.2 metres depth; 10.6 metres at 14.9% zinc from 200.8 metres depth; 9.8 metres at 15.1% zinc from 239.1 metres depth; 3.6 metres at 35% zinc from 262.6 metres depth; and 25.8 metres at 13.1% zinc from 277.6 metres depth. The wide interval includes 4.4 metres of no recovery assumed zero grade in three separate zones.

Hole A22-208 returned 4.6 metres at 32.4 per cent zinc from 105.2 metres depth; 9.9 metres at 9.7% zinc from 142.1 metres depth; and 71.2 metres at 8.8% zinc from 168.8 metres depth, including 37.7 metres at 12.8% zinc from 194 metres depth, including 2.7 metres at 45.2% zinc from 188 metres depth; 20 metres at 16.9% zinc from 211.9 metres depth; and 1.7 metres at 36.3% zinc from 265.9 metres depth.

Hole A22-206 returned 37.8 metres at 10.5% zinc from 153.5 metres depth, including 23.4 metres at 15.2% zinc from 168 metres depth; and 2.7 metres at 45.2% zinc from 188 metres depth and 1.7 metres at 15.9% zinc from 200.3 metres.

Hole A23-215 returned 5.2 metres at 11.2% zinc from 144.4 metres depth; 4.1 metres at 33.6% zinc from 190 metres depth; and 30.1 metres at 8.6% zinc from 263.4 metres depth, including 5.6 metres at 21.3% zinc from 264.5 metres depth.

Hole A22-210 2.7 metres at 16.2% zinc from 85.6 metres depth. Hole A22-201 was an extension of hole A17-066 (extended by 59 m) did not intersect significant mineralization.

A total of 10,000 metres have now been drilled for 30 drill holes in the 2022-23 drill program with a further 1,000 metres (approximately) to be completed. Seven holes have results pending. True thicknesses of the mineralized intercepts are estimated to be at least 70 per cent of the downhole thicknesses.

Dr. Graham Carman, President and CEO, stated: “Hole A23-212 is without doubt Tinka’s best ever hole at Ayawilca in terms of thickness and grade of the zinc mineralization – the hole intercepted a continuous zone of massive sulphide mineralization grading 11% zinc over an interpreted true thickness of approximately 100 metres. This hole is one of five fan holes reported here, following-up on the spectacular high-grade intercept of 39 metres grading 20% zinc including 10.4 metres at 42% zinc in hole A22-202. The results of these fan holes prove that there is excellent continuity of the high-grade zinc mineralization along a 200-metre strike length of folded limestone at the western extremity of the South Ayawilca deposit. This ultra high-grade zinc zone, which we are continuing to define and extend with more drilling, is expected to be very important for the project as it is located at the shallowest part of the South Ayawilca resource and therefore likely to be accessed early in the mine plan.”

“Importantly, exploration opportunities still exist to expand this ultra high-grade mineralization. The drill program will continue until April with at least two more holes to be drilled at South Ayawilca. Several additional holes remain to be reported including five holes from West Ayawilca. Next steps for the project, following completion of the drill program, include an update of the mineral resource estimations and the evaluation of alternatives to fast track Ayawilca towards development.”

The Zinc Zone deposit has an estimated Indicated Mineral Resource of 19.0 Mt at 7.15% zinc, 16.8 g/t silver and 0.2% lead and Inferred Mineral Resource of 47.9 Mt at 5.4% zinc, 20.0 g/t silver and 0.4% lead (dated August 30, 2021). The Ayawilca Tin Zone has an estimated Inferred Mineral Resource of 8.4 Mt grading 1.0% tin.

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