Zinc-focused Tinka Resources Ltd (CVE:TK) posted assays from six holes from the continuing stepout drilling at its Ayawilca project in Peru, which showed one of the best intercepts ever from one area.
One hole hit 106.5 metres at a grade of 6.8 % zinc (uncut) from 237.3 metres depth at West Ayawilca.
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This was one of the best intercepts ever drilled at West Ayawilca, around 50 metres north of the current zinc mineral resource.
"Tinka is targeting high-grade zinc mineralization outside of the existing resource boundaries in the 2018 step-out drill program, and we are very pleased to report results for hole A18-118, one of the best mineralized holes from West Ayawilca," said Dr Graham Carman, the firm's president and chief executive.
"Importantly, our geological model has successfully predicted zinc mineralisation is concentrated close to the hinge of an 'anticline' fold within limestone beneath sandstone cover, and this mineralisation remains open."
Carman added: "We continue to target possible connections between the resource areas at West and Central Ayawilca, and several holes have results pending.
"The Zone 3 area is also beginning to show encouraging zinc intersections (e.g., hole A18-119), and although the mineralisation is relatively deep, we believe Zone 3 has the potential to add significant new resources to the project.
"High-grade tin mineralisation in A18-119, more than 2 kilometres away from West Ayawilca, further indicates the potential and very large size of the Ayawilca mineralised system."
Today's assays saw three holes reported from West Ayawilca and three from the Zone 3 area.
Other highlights from West Ayawilca included 1.2 metres at 15.9 % zinc, 25.6 % lead and 559 g/t (grams per ton) silver from 47.7 metres depth, and 0.6 metres at 28.5 % zinc, 5.3 % lead & 477 g/t silver from 110.8 metres depth.
At Zone 3, there was 6.5 metres at 2.7 % zinc, 2.0 % lead and 77 g/t (grams per ton) silver from 376.6 metres depth, and 11.2 metres at 5.3 % zinc & 83 g/t indium from 451.5 metres depth.
Tinka shares gained around 3.09% to C$0.42 on the day.