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TSX-V:TK

Tinka Resources Limited

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Market:
TSX-V
Market Cap:
$80.07 m
Price
0.24 CAD
Change
4.44%
52 weeks high
0.29
52 weeks low
0.07

Tinka is an exploration and development company with its flagship property being the 100%-owned Ayawilca carbonate replacement deposit (CRD) in the zinc-lead-silver belt of central Peru, 200 kilometres northeast of Lima. The Ayawilca Zinc Zone contains 11.7 Mt of Indicated Resources grading 6.9% zinc, 0.2% lead, 15 g/t silver and 84 g/t indium, and 45.0 Mt Inferred Resources grading 5.6% zinc, 0.2% lead, 17 g/t silver and 67 g/t indium. The Ayawilca Tin Zone contains an Inferred Mineral Resource of 14.5 Mt at 0.63% tin, 0.21% copper and 18 g/t silver. The Colquipucro silver oxide deposit contains 2.9 Mt of Indicated Resources grading 112 g/t silver (for 10.4 Moz Ag) and 2.2 Mt Inferred Resources grading 105 g/t silver (for 7.5 Moz Ag) in high grade lenses within a preliminary open pit shell using a $46/t NSR cut off (November 26, 2018 release).

Overview
Tinka's primary focus is on the Ayawilca Property, which 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. Initial claims were acquired in 2005, at which time the only known mineralization on the Ayawilca property was silver oxide mineralization in the Colquipucro zone. In 2012, drilling by Tinka discovered zinc mineralization at Ayawilca in the limestone beneath the sandstones that host the Colquipucro silver mineralization. At that time, the Company's focus shifted from the silver mineralization to the zinc mineralization and a total of 67,000 metres of drilling for zinc mineralization has since been completed. The drilling has identified a large area of zinc mineralization, as well as a separate zone of tin mineralization, making Ayawilca the most significant zinc discovery in Peru in the past two decades.

To date, there have been four mineral resource estimates completed on the zinc and tin mineralization at Ayawilca. Significant increases in the mineral resources were reported in both 2017 and 2018, upon completion of ~20,000 metre exploration drill programs in each of those years.

As of November 26 2018, the Ayawilca Zinc Zone has an Indicated Mineral Resource of 11.7 million tonnes at 6.9% zinc, 0.16% lead, 84g/t indium & 15g/t silver (8.1% Zinc Equivalent) containing 1.8 billion pounds of zinc, 42 million pounds of lead, 983 tonnes of indium, and 5.8 million ounces of silver. In addition, Ayawilca has an Inferred Mineral Resource of 45.0 million tonnes at 5.6% zinc, 0.23% lead, 67g/t indium & 17g/t silver (6.7% Zinc Equivalent) containing 5.6 billion pounds of zinc, 230 million pounds of lead, 3,003 tonnes of indium and 25 million ounces of silver.

Resources were estimated at a cut-off grade of US$55 per tonne. Metal price assumptions used were US$1.15/lb Zn, US$1.00/lb Pb, US$300/kg In, and US$15/oz Ag. Metal recovery assumptions were 90% Zn, 75% Pb, 75% In, & 60% Ag.

As of November 26 2018, the Ayawilca Tin Zone has an Inferred Mineral Resource of 14.5 million tonnes at 0.63% tin, 0.21% copper and 18 g/t silver (0.70% Tin Equivalent) containing 201 million pounds of tin, 67 million pounds of copper, and 8 million ounces of silver. Resources were estimated at a cut-off grade of US$55 per tonne. Metal price assumptions used were US$9.00/lb Sn, US$2.85/lb Cu, and US$15/oz Ag. Metal recovery assumptions were 86% Sn, 75% Cu, and 60% Ag.

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 occurring from surface to a depth of 80 metres. Metal price assumption was US$24/oz Ag. Silver mineralization is oxidized and leachable.

Qualified Person – Mineral Resources: The Mineral Resources disclosed have been estimated by Mrs. Dorota El Rassi, P. Eng., and Mr. David Ross, P.Geo., both employees of RPA and independent of Tinka. By virtue of their education and relevant experience, Mrs. El Rassi and Mr. Ross are "Qualified Persons" for the purpose of National Instrument 43-101. The Mineral Resources have been classified in accordance with CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014).

Peru

 

Graham Donald Carman, Ph.D. B.Sc. (Hons) FAUSIMM
President, CEO and Director


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


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


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


Ms. Bermudez has over 20 years of experience providing corporate secretarial, corporate governance and securities regulatory compliance services to public-listed companies, including four years of experience as legal secretary/assistant with two Vancouver law firms in the securities and corporate commercial areas. Ms. Bermudez serves as corporate secretary and corporate governance advisor to various reporting issuers listed on the TSX or TSXV.

Cesar Carbajal
HSEC Manager


Mr. Carbajal brings over fifteen years of comprehensive experience in consulting and management within the mining industry in the areas of social responsibility and community relations including permitting, conflict-management, strategic communications, risk prevention, socio-environmental compliance and training. Mr. Carbajal has broad experience in handling and managing multicultural teams that include direct work experience in Peru, Chile, and the United States. Mr. Carbajal holds a B. A. in International Relations and a Master of Planning from the University of Southern California and a Master in Latin American Studies from UCLA.

Company Contact

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

Rob Bruggeman, Investor Relations
rbruggeman@tinkaresources.com
+1 416 884 3556

Mariana Bermudez, Corporate Secretary
info@tinkaresources.com
+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
info@tinkaresources.com

Corporate Secretary

Mariana Bermudez
Direct: (604) 699-0202
mbermudez@chasemgt.com

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