Tinka’s substantial increase in zinc and tin mineral resources at Ayawilca, Peru

Posted by Daniel Gleeson on 26th November 2018

Tinka Resources Ltd reports an updated Mineral Resources estimate for its 100%-owned Ayawilca zinc and tin deposits in Peru. Part of the Zinc Zone Mineral Resource is now classified as Indicated, incorporating a higher-grade portion of the deposit. In addition, the updated Inferred Mineral Resource is of a similar size and grade to the previous Zinc Zone resource reported in November 2017. The updated Tin Zone Inferred Mineral Resource is also substantially larger. This resources update follows a very successful drilling program, with the company completing approximately 20,000 m during 2018. The map shows major mines in central Peru.

  • Indicated Zinc Zone Mineral Resource of 11.7 Mt grading 6.9% Zn, 0.16% Pb, 84 g/t In and 15 g/t Ag (8.1% ZnEq)
  • Inferred Zinc Zone Mineral Resource of 45.0 Mt grading 5.6% Zn, 0.23% Pb, 67 g/t In and 17 g/t Ag (6.7% ZnEq)
  • Inferred Tin Mineral Resource of 14.5 Mt grading 0.63% Sn, 0.21% Cu, and 18 g/t Ag (0.70% SnEq).

The Tin Zone and Zinc Zone resources do not overlap. The Mineral Resources are reported above an NSR cut-off value of $55/t, as estimated by Roscoe Postle Associates.

Dr. Graham Carman, Tinka’s President and CEO, stated: “We are very pleased with the updated mineral resources estimation, as the Ayawilca deposit now represents one of the largest zinc resources held in a non-producing resources company. Ayawilca has for the first time, a high-grade Zinc Zone resource in the Indicated category containing 1.8 billion pounds of zinc (24% of the total zinc inventory), as well as an Inferred resource containing 5.6 billion pounds of zinc (76% of the total zinc inventory). Zinc resources were able to be partially upgraded to Indicated in those areas due to infill drilling at West and South Ayawilca in 2018. In addition, the Tin Zone resource has increased by 38% and now contains over 200 million pounds of tin. The updated Tin Zone resource is believed to be the largest undeveloped tin resource outside of a producing camp in Peru.”

“Tinka has had a very successful year at Ayawilca, expanding and upgrading the resources. We now look forward to completing our maiden PEA in the first half of 2019. Additional potential still exists for resource growth at Ayawilca, with additional step-out and deeper exploration drilling planned for 2019. The company’s work programs are fully funded into the foreseeable future, with C$13 million in cash and no debt as at the end of September 2018.”