Tinka Resources Limited (CVE:TK) (OTCPINK:TKRFF) is gearing up for a 7,000 metre (m) drill program at its Ayawilca zinc-silver project in Peru, with rigs expected to begin turning by the end of this month.
Three rigs are set to target areas where earlier drilling has identified high-grade zinc and silver mineralization, mostly in zones adjacent to the Colquipucro fault, and often outside known resources
READ: Tinka Resources restarts exploration program at Ayawilca project in Peru after coronavirus restrictions lifted
"Tinka is excited to reinitiate its drill programs at Ayawilca," CEO of Tinka Graham Carman told investors.
"We have some great targets, including possible extensions of the Zinc Zone, as well as silver-rich areas not yet included in the resource estimate at West Ayawilca, and at the Colqui Silver Zone. We believe there is significant silver upside which is not currently realized."
Referring to the current coronavirus pandemic, Carman added that the mining firm was taking all "necessary steps" to minimize health risks to its employees and communities with strict health protocols in place.
Ayawilca lies in the zinc-lead-silver belt of central Peru, 200 kilometres (km) northeast of Lima.
The Ayawilca zinc sulphide zone already contains an estimated 1.8 billion pounds zinc and 5.8 million ounces silver in the higher confidence indicated category, and 5.6 billion pounds zinc and 25.2 million ounces silver in the lower inferred category.
The Colqui oxide silver zone contains an estimated 14.3 million ounces silver in the indicated category and 13.2 million ounces silver in inferred, with mineralization starting from surface.
Tinka said it anticipated the drill program, to comprise around 20 diamond drill holes, would be completed in early 2021, subject to any pandemic-related delays.
Priority targets include at West Ayawilca, where previous step-out holes showed results including 10m grading 665 g/t silver, 1.4% zinc and 1.9% lead. At West Ayawilca, half the program will be targeted to upgrade current inferred resources into measured or indicated.
Meanwhile, at the Colqui silver zone, step-out holes are planned to test for possible down-dip extensions of the oxide silver mineralization.
Previous drill highlights here included 128m grading 91 g/t silver in one hole, and 52m grading 155 g/t silver in another.
Tinka owns 100% of its Ayawilca zinc-silver project in central Peru.
Contact the author at giles@proactiveinvestors.com
