Tinka Resources reported the results from initial 43-101 resource estimate on the Ayawilca zinc/silver/indium deposit on its 100 percent owned Colquipucro project in Peru.
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Tinka Resources Ltd. (TSXV:TK)
Market cap: $31 million
Cash estimate: $5.8 million
Ownership: 100 percent
Resources: Inferred: 13.3 million tonnes at 5.9 percent zinc, 0.2 percent lead, 68 g/t indium, 14 g/t silver: Colquipucro Silver Oxide Deposit: 7.1 million tonnes at 118 g/t silver
Project status: Update on Colquipucro oxide resource pending
- Tinka Resources announced initial 43-101 resource estimate on the Ayawilca zinc/silver/indium deposit on its 100 percent owned Colquipucro project. The Ayawilca-Colquipucro project is located within a 150 kilometer long zinc belt in west-central Peru hosting a number of significant zinc deposits including Antamina, Cerro de Pasco and Colquijirca. Also this week the Company announced Indium results from previously released holes.
- The initial inferred resource totals 13.3 million tonnes grading 5.9 percent zinc,0.2 percent lead, 68 g/t silver and 14 g/t silver using a US$ 60 cut-off grade. Metal prices used in the resource estimation are $1.20 per pound zinc, US$ 550 per kilogram indium, US$ 24.00 per ounce silver and $1.10 per pound lead. The resource was calculated using 18,634 meters of core from 43 drill holes. High values were cut to 25 percent zinc, 500 g/t indium and 100 g/t gold before compositing to two meter lengths for the block model.
- Highlights from the previously released holes (2013) now including Indium assays are: 212.9 meters grading 5.3 percent zinc, 83 g/t indium and 15 g/t silver, 148.5 meters at 4.33 percent zinc, 55 g/t indium and 10 g/t silver. (Indium prices are currently approximately $17 per ounce or equal to silver). True widths are believed Company be at least 75 percent of the reported core length.
- The 2011 Ayawilca discovery was blind gravity geophysical target covered by 150 meters of barren sandstone located 2 kilometers south of the Company’s Colquipucro oxide silver resource. The semi massive mineralization occurs as gently dipping replacement zones within a sedimentary breccia, siltstone, shale and limestone horizon. The deposit also includes a deeper copper/tin zone with assays up to 76 meters grading 0.36 percent copper and 0.21 percent tin. (Tin price is currently $8.21 per pound)
Early Discovery Holes: 4.0 meters at 6.75 percent zinc, 17 g/t silver (Oct 2011); 213 meters at 5.3 percent zinc, 15 g/t silver (2013)
Holes including Indium: 212 meters at 5.3 percent zinc, 83 g/t indium, 15 g/t silver; 148 meters at 4.33 percent zinc, 55 g/t indium and 10 g/t silver
Disclosure: I, Wayne Hewgill certify that the information in this report is sourced through public documents that are believed to be reliable, but accuracy and completeness as represented in this report cannot be guaranteed. The author has not received payment from any of the companies covered in this report. At the date of this release the author, Wayne Hewgill, owns no shares in the companies in this report.
This report makes not recommendations to buy sell or hold. Junior mineral exploration companies are considered high-risk and investors are encouraged to conduct their own due diligence.
Wayne Hewgill is a geologist with extensive knowledge of the global mining industry gained through 30 years of diversified experience in mineral exploration and new business development in Canada, as well as 10 years living in Africa, New Zealand and Australia. He was previously senior research officer at BHP Billiton, an executive with an exploration company working in Argentina and a mining analyst at three Vancouver-based financial groups where he developed the Drill Tracker database in 2006. He holds a B.Sc. in Geology from the University of British Columbia and is registered as a Professional Geoscientist (P.Geo) with APEGBC.