Tinka Resources (CVE:TK)

Tinka Resources (CVE:TK)


Share Price
$ 0.36
Change
0 (0.00 %)
Market Cap
$93.94 m
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Tinka Resources

Tinka Resources Ltd. is a junior exploration company based in Vancouver, Canada, that is developing its 100%-owned Colquipucro and Ayawilca projects. The projects are located 40 km northwest of Cerro de Pasco in the richly mineralized silver-lead-zinc belt of Central Peru.

EPIC: TK
Market: TSX-V:TK
52-week High/Low: C$0.58 / C$0.29
Sector: Mining
Market Cap: $93.94 m
Website: www.tinkaresources.com
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Big Picture – A Deep Dive Examination of Tinka Resources


Tinka Resources Snapshot

Company Highlights

The 150 km2 Ayawilca project is 100% owned by Tinka and hosts a large and growing zinc deposit:

 Inferred Resources contain ~3 Billion pounds Zinc
Equivalent based on 27,000 metres drilled to date:
▪ 18.8 Million tonnes @ 8.2% Zinc Equivalent; and
▪ 5.4 Million tonnes @ 0.89% Tin Equivalent

 Initial metallurgy indicates a marketable zinc con

Tinka is fully-funded for its next growth phase:

 10,000+ metre step-out drill program designed to increase
the zinc resource - commenced mid-February 2017

 ~C$12 million cash at end of December 2016

 New high-grade zinc discovery at South Ayawilca Additional targets to be drill tested in the coming months

Technical Team with past successes in Peru:

 ex Rio Tinto, Savage-Pasminco, Hochschild

Overview

The Ayawilca Property is located 200 km northeast of Lima in the Department of Pasco, Central Peru, at altitudes of between 3,800 and 4,300 metres. The Property is 40 km northwest of the world-class Cerro de Pasco zinc-lead-silver mine, and 100 km south of the giant copper-zinc Antamina mine. Tinka owns 100% of the contiguous 150 km2 mining concessions at Ayawilca.

Tinka is focusing on growing the Ayawilca Zinc Mineral Resource as its number one priority at the Property. The new 2017+ drill permit covers three times the area of the previous (2013-2015) drill permit, including many previously undrilled targets and potential resource extensions. The Company expects to be drill testing at Ayawilca throughout much of 2017, with a 10,000 metre drill program commencing in early 2017.

Three NI 43-101 Mineral Resources exist on the Property, and were defined by Tinka:

The Zinc Zone has an Inferred Mineral Resource (May 25 2016) of 18.8 million tonnes at 8.2 % Zinc Equivalent (5.9 % zinc, 74 g/t indium, 15 g/t silver, 0.2 % lead) containing 2.4 billion pounds of zinc, 1,385 tonnes of indium, 8.8 million ounces of silver, and 82 million pounds of lead. Zinc mineralization is open in most directions.

The Tin Zone has an Inferred Mineral Resource (May 25 2016) of 5.4 million tonnes at 0.89 % Tin Equivalent (0.76 % tin, 0.31 % copper, 18 g/t silver) containing 90 million pounds of tin, 37 million pounds of copper, and 3.1 million ounces of silver. Mineralization is open in most directions.

The Colquipucro Silver Zone has a Mineral Resource (February 26 2015) of 7.4 Mt at 60 g/t silver for 14.3 Moz silver (Indicated) and 8.5 Mt at 48 g/t silver for 13.2 Moz silver (Inferred) in a preliminary open pit shell generated in Whittle software. Colquipucro is located 2 km north of Ayawilca, with mineralization occuring from surface to a depth of 80 metres. It has the potential to be a starter pit with a very low strip. Silver mineralization is oxidized, and remains open to the northeast.

 

2017 Drill Program

Drill Hole Location Map with Magnetic Anomalies and Existing Zinc and Tin Resources

The map below illustrates the collar locations and drill traces of the drill holes completed and in progress at South Ayawilca and West Ayawilca. 

The Company received new 3 year drill permits for its Ayawilca property in February 2017. The new drill permits cover an area that is approximately three times the area covered under the previous drill permits, and include major new geophysical/geochemical anomalies that have never been drill tested.

A 10,000 metre diamond drill program commenced at the Property in mid-February 2017.

Drilling is focusing initially at South Ayawilca. The first drill hole of the 2017 program, hole A17-56, targeted a magnetic anomaly at the intersection of two important faults. Partial results from hole A17-56 indicate a new high grade zone discovery at South Ayawilca, approximately 400 metres from any previously defined mineralization at Central Ayawilca (March 6, 2017, news release).

A second drill rig was added in mid-March 2017. The second rig will initially attempted to test the extension of West Ayawilca, the thickest and highest grade part of the existing Zinc Zone resource, where mineralization remains open down-dip to the west (see cross section below). However, drill hole A17-58 was lost before achieving the target depth and the drill rig was mobilized to South Ayawilca due to the significant zinc mineralization encountered by holes A17-56 and A17-57. In addition, a third drill rig was added in South Ayawilca in mid-April 2017 to accelerate drilling of mineralization encountered in this new discovery zone. The Company plans to test the extension of West Ayawilca later in the drill program.

For more information, please click here

 

Ayawilca

Mineral Resources

 

The Mineral Resources presented here are in accordance with the NI 43-101 Inferred Mineral Resource category, at a cut-off grade equivalent to approximately US$60/t, as estimated by Roscoe Postle Associates Inc. (RPA) of Toronto, Canada. The reader is advised to review the full NI 43-101 Report dated June 29, 2016.

The Zinc Zone Inferred Mineral Resources are estimated to total 18.8 million tonnes grading 8.2% Zinc equivalent (ZnEq). The Zinc Zone Mineral Resources occur in three separate areas, West, Central, and East (see table below) over an east to west mineralized trend of 1.5 kilometres. The mineralization remains open in most directions. The Zinc Zone Mineral Resources are hosted by Pucará Group limestone approximately 200 metres thick, beneath a sandstone 'cap' about 150 metres thick. The deposit style is a carbonate-hosted replacement deposit (CRD), with zinc sulphide (sphalerite) occurring in multiple generations as semi-massive sulphide replacements of the limestone together with other (mostly iron) sulphides. The Zinc Zone deposit is made up of multiple, gently dipping lenses or ‘mantos’ and at least one vertical chimney at West Ayawilca where the zinc grades are higher.

For more information, please click here

 

Colquipucro

Silver Mineral Resources

The Mineral Resources presented here are in accordance with the NI 43-101 Indicated and Inferred Mineral Resource categories, at a cut-off grade of US$60 per tonne for the high grade lenses and US$15/t for the low grade halo mineralization. The Mineral Resources were estimated by Roscoe Postle Associates Inc. (RPA) of Toronto, Canada. The reader is advised to review the full NI 43-101 Report dated June 29, 2016.

The Colquipucro Silver deposit is located about 2 kilometres north-northwest of the Ayawilca Zinc and Tin Zones. Sixty five percent (65%) of the silver inventory at Colquipucro occurs within a series of shallowly-dipping high-grade lenses, mostly lying very near to surface.

For more information, please click here

 

Rurimarac

The Rurimarac project (Tinka 100%) is located 35km southwest of Barrick's Pierina gold mine (10 million ounces gold) in the Ancash region of central Peru. High-grade gold (up to 52 grams per tonne gold) occurs in outcrops of breccia and altered shale at the Rurimarac project, consisting of 2,000 hectares. Gold mineralization is hosted by altered and oxidised fault breccia at the contact between Tertiary diorite and Jurassic Chicama Formation shale. Silicified zones within the breccia expose pyrite and arsenopyrite. Surface pits and trenches (65 samples) average 5.1 grams per tonne gold within a geochemical gold anomaly covering 1000 metres x 300 metres. One past Tinka drill hole partially tested the mineralized structure - LDD5 drilled 6 metres of 3 grams per tonne gold from 60 metres depth in oxidised rock. The breccia zone is interpreted to have a low plunge angle (30 degree) . Further drilling is required to adequately test the central part of the geochemical gold anomaly.

For more information, please click here

Board of Directors

Graham Donald Carman, Ph.D. B.Sc. (Hons) FAUSIMM

President, CEO and Director

Graham Donald Carman, Ph.D. B.Sc. (Hons) FAUSIMM
Dr Carman is a geologist with 25 years experience in mineral exploration in South America, Australia and Asia. He graduated from Victoria University of Wellington New Zealand in 1986 with a First Class B.Sc. (Hons) before moving to Australia to work as a geologist for Kennecott and BP Minerals. Dr Carman completed a PhD at Monash University on the geology of the Lihir Island gold deposit in Papua New Guinea from 1990 -1993. For seven years from 1994 he lived in Peru assessing exploration projects for major mining companies including Rio Tinto, Savage Resources and Pasminco Ltd. He was Exploration Manager South America for Savage-Pasminco from 1997-2000 based in Lima. He was a key discovery team member of the Yanque and Accha zinc-lead discoveries in Peru (Rio Tinto, Savage), and significantly advanced the Bongara zinc deposit in Peru (Pasminco). From 2001 he worked with several junior Australian-based mineral explorers, co-founded and was Managing Director of Paradigm Metals, an ASX listed company, until 2011. From 2012 to 2014 he was President and CEO of Darwin Resources Corp., a company with exploration projects in Peru that merged with Tinka in July 2014. He is a Fellow of the Australasian Institute of Mining and Metallurgy, and is based in Sydney, Australia.
 
 
David Henstridge B. Sc. (Hons), FAusIMM, MAIG, MGSAust

Director

David Henstridge B. Sc. (Hons), FAusIMM, MAIG, MGSAust
Mr. Henstridge is a self-employed professional geologist and holds a Bachelor of Science (Honours) degree from the University of Adelaide in Australia and professional designations from each of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Geological Society of Australia. Mr. Henstridge brings over 40 years of experience in the mining industry including 20 years in managing public-listed companies. Mr. Henstridge is a director and member of various audit, compensation, corporate governance and nominating committees of other public-listed mineral exploration companies.

 

 

 

Nick DeMare CPA, CA

CFO and Director

Nick DeMare CPA, CA
Mr. DeMare, a chartered professional accountant, has been President of Chase Management Inc. since 1991, providing accounting, management, securities regulatory compliance and corporate secretarial services to private and public-listed companies. Mr. DeMare also serves as an officer and/or director of a number of public-listed companies. Mr. DeMare holds a Bachelor of Commerce degree from the University of British Columbia and is a member in good standing of the Institute of Chartered Accountants of British Columbia.

 

 

 

 

Mary L. Little, M.Sc., MBA

Director

Mary L. Little, M.Sc., MBA
Ms. Little has over twenty-five years of experience in the exploration and evaluation of epithermal precious metals deposits, porphyry and sediment-hosted mineral environments, including fifteen years based in Latin America. Ms. Little is a founder of and former president, chief executive officer and director of Mirasol Resources Ltd., a TSXV-listed exploration company, leading Mirasol’s growth as a successful prospect generator and its corporate development activities from 2003 until 2014. Ms. Little has also held management positions including business development manager and country manager with major mining corporations Newmont, Cyprus Amax and WMC Ltd. Ms. Little holds a M.Sc. degree in Earth Sciences from the University of California and an MBA from the University of Colorado. Ms. Little also serves on the boards of Sandstorm Gold Ltd. and Pure Energy Minerals Ltd.
 
 
 
 
 
 
 
 

Management

Graham Donald Carman, Ph.D. B.Sc. (Hons) FAUSIMM

President, CEO and Director

Graham Donald Carman, Ph.D. B.Sc. (Hons) FAUSIMM
Dr Carman is a geologist with 25 years experience in mineral exploration in South America, Australia and Asia. He graduated from Victoria University of Wellington New Zealand in 1986 with a First Class B.Sc. (Hons) before moving to Australia to work as a geologist for Kennecott and BP Minerals. Dr Carman completed a PhD at Monash University on the geology of the Lihir Island gold deposit in Papua New Guinea from 1990 -1993. For seven years from 1994 he lived in Peru assessing exploration projects for major mining companies including Rio Tinto, Savage Resources and Pasminco Ltd. He was Exploration Manager South America for Savage-Pasminco from 1997-2000 based in Lima. He was a key discovery team member of the Yanque and Accha zinc-lead discoveries in Peru (Rio Tinto, Savage), and significantly advanced the Bongara zinc deposit in Peru (Pasminco). From 2001 he worked with several junior Australian-based mineral explorers, was co-founder and Managing Director of Paradigm Metals, an ASX-listed company until 2011. From 2012 to 2014 he was President and CEO of Darwin Resources Corp., a company with exploration projects in Peru that merged with Tinka in July 2014. He is a Fellow of the Australasian Institute of Mining and Metallurgy, and is based in Sydney, Australia.
 
 
Alvaro Fernandez-Baca P. Geo

V.P. Exploration

Alvaro Fernandez-Baca P. Geo
Mr. Fernandez-Baca, a Peruvian citizen, holds a Geology degree from the University of Edinburgh (1996) with 19 years’ experience working in mineral exploration and project management in Latin American and around the world. Mr. Fernandez-Baca is a professional geoscientist registered with the Association of Professional Engineers and Geoscientists of the Province of British Columbia (APEGBC) and is based in Lima. Mr. Fernandez-Baca has served as a qualified person for various publicly-listed companies and has authored several NI 43-101 technical reports. Prior to joining Tinka, Mr. Fernandez-Baca held the position of Exploration Manager for Hochschild Mining, a London-listed mid-tier producer, for two years and was responsible for advancing Hochschild’s exploration portfolio in South America based in Lima. Mr. Fernandez-Baca has also held the position of Vice President of Exploration and General Manager of AQM Copper Inc. and has worked for Entrée Gold Inc. in Mongolia, and Gitennes Exploration Inc. in Peru.

 

 

Nick DeMare CPA, CA

CFO and Director

Nick DeMare CPA, CA
Mr. DeMare, a chartered professional accountant, has been President of Chase Management Inc. since 1991, providing accounting, management, securities regulatory compliance and corporate secretarial services to private and public-listed companies. Mr. DeMare also serves as an officer and/or director of a number of public-listed companies. Mr. DeMare holds a Bachelor of Commerce degree from the University of British Columbia and is a member in good standing of the Institute of Chartered Accountants of British Columbia.

 

 

 

 

Mariana Bermudez

Corporate Secretary

Mariana Bermudez
Ms. Bermudez has over 19 years of experience providing corporate secretarial, corporate governance and securities regulatory compliance services to public-listed companies and serves as corporate secretary to various reporting issuers. Ms. Bermudez has also been a legal secretary/assistant for two Vancouver law firms.

 

 

 

 

 

Javier Escudero

HSEC Manager

Javier Escudero
Mr. Escudero has over 18 years of experience working in the mining industry, consulting in areas of social responsibility, strategic communications, risk prevention, socio-environmental impact, conflict resolution and land acquisitions. Mr. Escudero graduated from the Pontifica Universidad Catolica of Peru, in Sociology, as well as obtained diplomas in Business Administration and Conflict Resolution and Negotiation. Mr. Escudero has served in senior positions with various mining companies in Peru, including Gold Fields, Hunt Oil, Rio Tinto and Cia. Minera Antamina.

 

 

 

Share Structure

May 17, 2017

 

SHARE CAPITAL STRUCTURE Price No. of Securities   Total Securities
                 
          $      
Issued and Outstanding:           208,645,447
                 
Stock Options:              
  Expiring August 5, 2017   $0.37 1,825,000    
  Expiring August 5, 2017   $0.30 515,000    
  Expiring April 20, 2018   $0.30 390,000    
  Expiring June 12, 2018   $0.35 3,560,000    
  Expiring November 23, 2018   $0.20 108,750    
  Expiring November 24, 2018   $0.25 430,000    
  Expiring April 1, 2019   $0.25 400,000    
  Expiring July 25, 2019   $0.25 200,000    
  Expiring February 2, 2020   $0.325 5,510,000   12,938,750
                 
Warrants:              
                 
  Warrants Expiring November 29, 2017 0.30 12,308,285   12,270,785
                 
  Warrants Expiring May 29, 2020   0.45 12,613,910   12,613,910
                 
  Warrants from Finder’s Units Expiring November 29, 2017 0.30 17,812   17,812
                 
  Warrants from Finder’s Units Expiring May 29, 2020 0.45 17,812   17,812
                 
  Broker Warrants Expiring November 7, 2018 0.20 1,842,829   1,842,829
                 
                 
Reserved for Property Acquistions     500,000   500,000
                 
                 
Fully Diluted:             248,847,345

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Company Contact

Tinka Resources Limited
1305 - 1090 West Georgia Street
Vancouver, British Columbia
Canada V6E 3V7

Rob Bruggeman, Investor Relations
[email protected]
+1 416 884 3556

Mariana Bermudez, Corporate Secretary
[email protected]
+1 604 699 0202

Corporate Directory

Head Office

Tinka Resources Limited
1305 - 1090 West Georgia Street
Vancouver, British Colombia
Canada V6E 3V7
P: (604) 685-9316
F: (604) 683-1585
[email protected]

Corporate Secretary

Mariana Bermudez
Direct: (604) 699-0202
[email protected]

Transfer Agent & Registrar
Computershare Investor Services
Vancouver, British Colombia
Canada

Auditors

D&H Group
Vancouver, British Colombia
Canada

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