leadf
logo-loader
viewTinka Resources Limited
(
TSX-V:TK
)

Tinka Resources gets back to drilling in Peru as it starts 7,000 metre program

The work is aimed at converting inferred resources into higher confidence indicated ounces and testing for zinc extensions

Tinka Resources Limited -
The Ayawilca sulphide zinc zone contains an estimated 1.8 billion pounds zinc and 5.8 million ounces silver in the indicated category

Tinka Resources Limited (CVE:TK) (OTCPINK:TKRFF) is back drilling at its flagship Ayawilca zinc-silver project in Peru, with a 7,000 metre (m) program of 20 holes having kicked off.

The work is aimed at converting inferred resources into higher confidence indicated ounces and also to test for extensions of zinc and silver mineralization down-dip of known zones of mineralization in step-out holes.

Two drill rigs are currently on site, with a third expected to be added by the end of October.

READ: Tinka Resources gearing up for 7,000m drill program at Peru project to kick off by end of month

"It is exactly 12 months since Tinka was last drilling at Ayawilca, and our team is very excited to be back drilling again after what has proven to be a challenging year due to the severe impact of the pandemic in Peru," noted chief executive Dr Graham Carman in a statement.

"We are targeting two styles of mineralization; zinc-rich massive sulphide mineralization typical of the Ayawilca Zinc Zone, and silver-rich mineralization which occurs in carbonate veins and replacements on the margins of the sulphide deposit.

"We expect to release the drill results as soon as they become available and can be interpreted within the context of our geological model. Tinka has put in place enhanced health protocols to keep our employees, contractors and community workers as safe as possible."

Later in the program, step-out holes will test new exploration targets at the Colqui silver zone, Tinka added.

The Ayawilca sulphide zinc zone contains an estimated 1.8 billion pounds zinc and 5.8 million ounces silver in the indicated category, and 5.6 billion pounds zinc and 25.2 million ounces silver in the inferred category.

The Colqui silver zone (oxide) contains an estimated 14.3 million ounces silver in the indicated category and 13.2 million ounces silver in inferred category, with mineralization starting from surface.

Shares in Toronto ticked up 2.7% to stand at C$0.19 each.

---Updates for share price---

Contact the author at giles@proactiveinvestors.com

Quick facts: Tinka Resources Limited

Follow
TSX-V:TK

Price: 0.195 CAD

Market Cap: $66.44 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Fobi AI takes technology to the mining industry partnering with Azincourt Energy

Fobi AI (TSX-V:FOBI, OTCQB:FOBIF) CEO Rob Anson joined Steve Darling from Proactive to share big news that the company has entered into a data consulting agreement with Azincourt Energy (TSX-V:AAZ) which provides real-time data analytics through artificial intelligence. Anson telling...

11 hours, 4 minutes ago

2 min read