Tinka Resources Ltd (CVE:TK) chief executive Dr Graham Carman speaks to Proactive Investors about the latest stellar drilling results to emerge from the company's flagship Ayawilca zinc project in Peru.
Out of seven holes just announced, the highlight was 10.4 metres grading 44.0% zinc within a zone consisting of more than 90% zinc sulphides. "It even surprised the geologists out on the field," says Carman.
Carman explains, "we put out a resource update late last year, and basically since then we've been drilling busily away trying to grow the resource... the current resource sits at 42 million tonnes at 7% zinc equivalent, which is already a significant resource." The latest results lift the grade of the project, and have also revealed previously unknown depths to the favourable geology.
"We're planning to do a PEA in the final quarter of this year, but prior to that we need to do a resource upgrade, and whilst we're getting these spectacular drill holes it may be that we push out the timing slightly because we think that's a good problem to have... We've got the three rigs turning, they're all doing step-out drill holes, we expect to be drilling to at least mid-August at which time we'll make a call... we believe that Ayawilca will be developed sometime in the next three to five years" says Carman.