Tinka Drills 50.5 Metres at 1.23% Tin & 0.16% Copper at Ayawilca
Including 2.5 metres at 8.81% tin & 0.18% copper
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 13, 2015) – Tinka Resources Limited (“Tinka” or the “Company“) (TSX VENTURE:TK)(OTC PINK:TKRFF) is pleased to announce its first discovery of high-grade tin mineralization over a substantial thickness at the Ayawilca project, central Peru. The high-grade discovery is part of a larger tin-copper mineralized layer located below and separate to the Ayawilca Zinc Mineral Resource (13.3 million tonnes grading 5.9% zinc, 0.2% lead, 68g/t indium, 14g/t silver Inferred; PR February 26, 2015) defined by the Company in 2014. The Company is currently midway through a step-out drill program of up to 20 holes focussing on extending the resource inventory.
- A15-40: 50.5 metres at 1.23% tin, 0.16% copper and 15g/t silver from 328.0 m depth, including:
- 13.0 metres at 2.94% tin, 0.25% copper and 12g/t silver from 328.0 m depth, including:
- 2.5 metres at 8.81% tin, 0.18% copper and 10g/t silver from 330.0 m depth;
- True thickness of the tin-copper intercepts in hole A15-40 are estimated to be at least 90% of down-hole length;
- Tin-copper mineralization occurs within a flat-lying sulphide (pyrrhotite) lens beneath but separated from the zinc-dominant sulphide mineralization;
- A15-40 also intersected 8.0 metres at 5.3% zinc & 91g/t indium from 233.8 metres depth (zinc results for the first 7 step-out holes were reported on September 29, 2015);
- Tin occurs mostly as cassiterite, the most common ore mineral of tin;
- Next steps: Follow-up drilling is underway to test extensions to the west and east of drill hole A15-40, where mineralization remains open forboth tin-copper and zinc.
Dr. Graham Carman, Tinka’s President and CEO, stated: “The discovery of high-grade tin-copper mineralization at Ayawilca is very important for Tinka shareholders. The tin and copper mineralization has so far been identified over an area covering 1.2 kilometres by 250 metres. Tin is valued at about US$15,900 per tonne in the world metal markets, more than 3 times copper (US$5,135 per tonne) and 9 times zinc (US$1,667 per tonne) using LME prices as at Oct. 8, 2015.”
“We are extremely pleased with the drill results to date, and the Ayawilca project continues to exceed management’s expectations and with continued positive drill results could, in our opinion, become one of the largest greenfields zinc and tin discoveries in recent times. Tinka is continuing to work towards an initial tin-copper resource estimate in 2016, as well as expanding the zinc resource. We will announce the results of drill holes A15-41 to -45 once the zinc and tin assays become available.”