Tinka Resources drills 11.48% zinc over 45.2 metres at West Ayawilca, Peru

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Tinka Resources Ltd. [TK-TSXV, BVL; TKRFF-OTCQB] reported results from four infill drill holes from the continuing resource definition and expansion drill program at the Ayawilca zinc project in Peru.

All four holes reported are from the West Ayawilca area. The results reported in this release are of similar or better grade to the earlier holes and show strong continuity of the limestone-hosted zinc sulphide mineralization at West Ayawilca.

The company recently announced an extension of the drill program to 11,000 metres due to the strong results particularly from South Ayawilca. Approximately 8,200 metres in 24 drill holes have been completed with results reported for 17 holes. The drill program is progressing without interruption, with two rigs operating 24/7 and is expected to continue until April, 2023.

Following the spectacular zinc intercept of 38.9 metres at 20% zinc (Zn) (including 10.4 metres at 42% Zn in hole A22-202 from South Ayawilca, four additional holes have been completed and results are pending.

Key highlights for West Ayawilca include Hole A22-207 that returned 5.9 metres at 24.0% zinc from 115.9 metres and 132.5 metres at 6.8% zinc from 193.9 metres depth, including 45.2 metres at 11.5% zinc from 248.0 metres depth, and 6.5 metres at 27.2% zinc from 319.9 metres depth.

Hole A22-203 returned 49.8 metres at 8.3% zinc from 186.8 metres depth, including 5.9 metres at 13.9% zinc from 197.7 metres depth, and 2.8 metres at 23.3% zinc from 216.2 metres depth.

Hole A22-205 134.0 metres at 4.8% zinc from 180.0 metres depth, including 14.4 metres at 9.4% zinc from 300.0 metres depth.

Hole A22-209 1.0 metre at 11.4% zinc, 0.8% lead & 63 g/t silver from 274.3 metres depth. True thicknesses of the mineralized intercepts are estimated to be at least 75% of the downhole thicknesses.

Dr. Graham Carman, President and CEO, stated: “These new drill results from West Ayawilca add to the confidence in our geological model and reaffirm the zinc grades within the limestones. The grade of the zinc mineralization is consistently high both within the basal limestone replacement zones and the overlying breccia-hosted sulphide bodies. Importantly, the vertical continuity of the breccia-hosted zinc mineralization is better than was previously recognized in some of the earlier holes at West Ayawilca. Several additional holes will further test the vertical and horizontal extents of the breccia-hosted mineralization. Meanwhile at South Ayawilca, the second drill rig is progressing well with a series of fan holes following up on the spectacular intercept of 39 metres grading 20% zinc in hole A22-202. We look forward to publishing results of these follow-up holes once they come to hand.”

Tinka has now completed approximately 8,200 metres for 24 holes in the 2022-2023 resource definition-expansion drill program with 17 of the holes now reported (including this release). The objectives of the drill program continue to be to target high-grade zinc mineralization at South and West Ayawilca and to expand measured and indicated zinc resources.

Hole A22-207 was a follow-up of hole A22-200, one of the best holes ever drilled at West Ayawilca (44.9 metres at 12.0% zinc from 283.3 metres) and produced a similar intercept at a shallower depth: 45.2 metres at 11.5% zinc from 248.0 metres. This high-grade interval formed part of a thicker lower grade interval consisting mostly of breccia-hosted zinc mineralization which is typically observed in the upper portions of the West Ayawilca deposit: 132.5 metres at 6.8% zinc from 194 metres depth downhole (from 180 metres vertical depth).

Holes A22-203 and A22-205 were both follow-up holes of A22-197 (79.4 metres at 5.3% zinc from 271.6 metres depth including 26.3 metres at 8.4% zinc from 281.7 metres depth). A22-203 intersected 49.8 metres 8.3% zinc from 186.8 metres depth in limestone breccia, approximately 80 metres up-section of the mineralized zinc intercept in hole A22-197. Hole A22-205 was drilled underneath A22-197 and intercepted 63.3 metres at 6.6% zinc including 14.4 metres at 9.4% zinc from 291 metres depth.

Hole A22-209 tested the northern-most extension of the mineralization at West Ayawilca. The best mineralization in A22-209 was 1 metre at 11.3% zinc with an additional narrow intercept of 1.7 metres at 7.7% zinc+lead and 108 g/t silver.

Tinka is an exploration and development company with its flagship property being the 100%-owned Ayawilca zinc-silver-tin project in central Peru. The Zinc Zone deposit has an estimated Indicated Mineral Resource of 19.0 Mt at 7.15% Zn, 16.8 g/t Ag and 0.2% Pb and Inferred Mineral Resource of 47.9 Mt at 5.4% Zn, 20.0 g/t Ag and 0.4% Pb.

The Ayawilca Tin Zone has an estimated Inferred Mineral Resource of 8.4 Mt grading 1.0% tin.

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