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Tinka Resources rises after intersecting high-grade zinc intervals at West Ayawilca

Tinka is now fully funded to execute its exploration programs for the next 18 months, which are designed to advance and de-risk the Ayawilca project in central Peru

Ayawilca phreatic breccia outcrop
Tinka released assay results for four new drill-holes from the Ayawilca project in central Peru

Shares in Tinka Resources Limited (CVE:TK) rose after it released assay results from four new holes from the drill program at its Ayawilca project.

The company highlighted hole A18-114, a step-out hole roughly 110 metres northwest of the West Ayawilca zinc resource, which intersected two high-grade zinc intervals in an area previously untested.

READ Tinka Resources releases assay results at Ayawilca zinc project in Peru

Highlights from hole A18-114 included 19.3 metres at 9.2 % zinc, 0.2 % lead & 19 grams per tonne (g/t) silver from 300 metres depth and 14.4 metres at 12.8 % zinc, 1.9 % lead, 140 g/t silver & 98 g/t indium from 351.4 metres depth.

In the zone 3 area, hole A18-111 encountered 1.3 metres at 6.5 % zinc & 0.3 % lead from 278.2 metres depth, while hole A18-110 encountered 3.8 metres at 3.7 % zinc & 0.3 % lead from 278.2 metres depth; 3.4 metres at 4.8 % zinc & 48 g/t indium from 322.6 metres depth and 12.1 metres at 4.9 % zinc & 212 g/t indium from 372.7 metres depth.

Hole A18-112 at zone 3 did not intersect any significant zinc mineralization.

Follow-up drilling is underway to test further extensions of the high-grade mineralization Tinka has encountered. Two drills are currently operating at West Ayawilca and Zone 3, with a third drill rig now mobilizing and expected to commence drilling by the end of April.

“We are very pleased to have intersected significant high-grade zinc mineralization in our first step-out hole at West Ayawilca in 2018. It is still early in this year's drill program, but we are confident that our planned 15,000 metre drill program will continue to expand on our known mineralized zones, discover new areas of zinc mineralization, and add significant new mineral resources to the project,2 said Dr Graham Carman, Tinka's president and chief executive officer.

“Approximately 25-30 holes are planned for the first half of 2018 consisting mostly of step-out holes, with an initial preliminary economic assessment planned to be completed before year´s end," he added.

"The new mineralization in A18-114 at West Ayawilca is located on the eastern limb of an 'anticline' fold axis, which company geologists believe acted as a trap for the zinc mineralization,” Dr Carman continued.

An anticline is a geological structure whereby the strata are folded into an upside down 'U' shape.

Shares in Tinka were up 3.1% at C$0.50 in lunchtime trading.

Quick facts: Tinka Resources Limited

Price: 0.175 CAD

TSX-V:TK
Market: TSX-V
Market Cap: $59.63 m
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