Proactiveinvestors Australia Tinka Resources https://www.proactiveinvestors.com.au Proactiveinvestors Australia Tinka Resources RSS feed en Thu, 20 Jun 2019 21:30:25 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - 10.4 metres grading 44% zinc 'not a typo' confirms Tinka Resources chief executive ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9728/104-metres-grading-44-zinc-not-a-typo-confirms-tinka-resources-chief-executive-9728.html Thu, 28 Jun 2018 20:29:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9728/104-metres-grading-44-zinc-not-a-typo-confirms-tinka-resources-chief-executive-9728.html <![CDATA[News - Tinka Resources' new discovery at Ayawilca opens up 'significant' areas of untested potential ]]> https://www.proactiveinvestors.com.au/companies/news/199595/tinka-resources-new-discovery-at-ayawilca-opens-up-significant-areas-of-untested-potential-199595.html Zinc-focused Tinka Resources Ltd (CVE:TK) has unveiled yet more positive drill results from its Ayawilca project in Peru, including a new discovery of "exceptional grade", sending shares surging.

Today's results hail from six holes from the West Ayawilca area and one from the Central area.

READ THE BIG PIC: Tinka Resources continues to advance its potentially 'world class' Ayawilca zinc project

One hole hit exceptional grades of zinc sulphide mineralization at West Ayawilca in a new mineralised setting, the firm told investors.

The highlight was 10.4 metres grading 44.0% zinc within a zone consisting of more than 90% zinc sulphides - the highest-grade zinc intersection ever encountered at Ayawilca over a significant interval, the company noted.

The new discovery opens up significant areas of untested potential, both beneath and adjacent to the existing mineral resource, said Tinka.

"The exceptional zinc grade in hole A18-129 is very exciting as it confirms Ayawilca mineralization can be very high-grade, while a repetition of the favorable Pucara limestone opens up a new exploration target at depth and also down-plunge of the new intercept," said Dr Graham Carman, Tinka's president and chief executive.

"Previously, it was thought that the phyllite metamorphic rock represents a 'floor' to the zinc mineralization.

"Past drill holes were typically stopped a few metres into the phyllite, and some holes at Ayawilca may have been stopped prematurely."

READ: Tinka Resources hails one of the best drill assays yet at West Ayawilca, Peru

Carman went on to say that the  three-rig drill program is now focused on testing extensions of the zinc resources at West and South Ayawilca, including deeper repetitions of the limestone-hosted replacement mineralization, as well as possible connections of these areas with Central Ayawilca.

"The three rigs on site are expected to be operating until at least mid-August 2018, at which time the number of rigs will be reviewed subject to results.

"Drilling at the Zone 3 area, which has been one of our main target areas, will resume later in the year.

"A Preliminary Economic Assessment is planned for the fourth quarter of 2018."

Highlight assays from the West Ayawilca area include 11.9 metres at 39.6% zinc, 0.8% lead, 45 g/t (grams per tonne) silver and 761 g/t indium from 339.4 metres depth.

Anoher intercept showed 7.8 metres at 8.1% zinc, 5.1% lead and 183 g/t silver from 94 metres depth.

The Ayawilca Zinc zone has an inferred resource estimate of 42.7 Mt (million tonnes) at 6.0 % zinc, 0.2 % lead, 17 g/t silver and 79 g/t indium, and a Tin zone inferred resource of 10.5 Mt at 0.63 % tin, 0.23 % copper and 12 g/t silver.

Tinka shares shot up in Toronto over 24% to C$0.53.

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Tue, 26 Jun 2018 08:41:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199595/tinka-resources-new-discovery-at-ayawilca-opens-up-significant-areas-of-untested-potential-199595.html
<![CDATA[News - Tinka Resources continues to advance its potentially 'world class' Ayawilca zinc project ]]> https://www.proactiveinvestors.com.au/companies/news/198565/tinka-resources-continues-to-advance-its-potentially-world-class-ayawilca-zinc-project-198565.html Tinka Resources Limited (CVE:TK) continues to advance  its potentially 'world class'  Ayawilca zinc project in Peru.

In April this year, the group said it was fully funded to execute its exploration programs at the project for the next 18 months.

It had just encountered high grade zinc mineralisation in the first step-out hole at West Ayawilca area of the property, which is a large, high grade discovery, which is still growing.

On June 26, Tinka unveiled a new discovery of "exceptional grade" at the West Ayawilca area. One hole hit exceptional grades of zinc sulphide mineralization at West Ayawilca in a new mineralised setting.

The highlight was 10.4 metres grading 44.0% zinc within a zone consisting of more than 90% zinc sulphides - the highest-grade zinc intersection ever encountered at Ayawilca over a significant interval.

And last month (May), it posted assays from six holes from the continuing stepout drilling, which showed one of the best intercepts ever from one area.

This hole hit 106.5 metres at a grade of 6.8 % zinc (uncut) from 237.3 metres depth at West Ayawilca.

The Zone 3 area was also beginning to show encouraging zinc intersections, and although the mineralisation is relatively deep, the company believes Zone 3 has the potential to add significant new resources to the project.

Tinka says 15,000m of drilling is planned for 2018 to expand zinc zones and test new targets and three drill rigs are currently operating.

PEA by end of fourth quarter

Near term goals for Ayawilca are metallurgical test results for zinc by the end of the second quarter and a preliminary economic assessment (PEA) by end of the fourth quarter.

So what is Ayawilca and are there other assets?

Ayawilca is a 150 sq km area 200 km northeast of Lima in Central Peru.

The company doubled the inferred resources at the Ayawilca zinc zone in 2017.

These are 42.7mln tonnes at 7.3% zinc equivalent, containing 5.6bn pounds of zinc metal and 10.5mln tonnes at 0.70% tin equivalent.

It lies 40 km northwest of the world-class Cerro de Pasco zinc-lead-silver mine, and 100 km south of the giant copper-zinc Antamina mine.  Tinka owns 100% of the concessions.

Colquipucro near surface silver deposit

Tinka also has the Colquipucro near surface silver deposit, which is what bought the company into the area in the first place (and where zinc was found beneath the silver) which lies around 2 kilometres north-northwest of zinc discovery.

There, the higher confidence indicated resource stands at 14.3mln ounces of contained silver at 60 g/t (grams per ton) silver, while inferred is 13.2mln ounces at 48 g/t.

In 2016, Tinka discovered a new zinc prospect at Pucarumi, which lies several kilometres northwest of the  inferred zinc resource and within its existing mining claims in central Peru.

The group is well funded, with C$18mln in cash, to expand resources and advance to the pre-feasibility stage, it says,

At the end of April it closed a second and final tranche of a private placing, raising a total of C$2.409mln, bringing the total amount raised through its bought deal, first tranche and second tranche to about C$16.2mln

Zinc prices higher

Tinka's progress comes encouragingly when zinc as a commodity is doing rather well.

The base metal is currently at highs of around US$1.35 per pound.

It’s the second big price spike since 2000 following record high prices of more than US$2 per pound in late 2006.

The World Bank predicts a more stable picture by 2030, when prices are expected to hover around US$1.09 per pound, giving zinc a strong economic forecast and boosting confidence for a junior like Tinka.

Zinc has been used in batteries for decades and recent research by Stormcrow Capital estimates that the emerging market for low cost zinc-air batteries for  energy storage could increase demand for the metal by 20mln tonnes.

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Fri, 08 Jun 2018 13:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198565/tinka-resources-continues-to-advance-its-potentially-world-class-ayawilca-zinc-project-198565.html
<![CDATA[News - Tinka Resources hails one of the best drill assays yet at West Ayawilca, Peru ]]> https://www.proactiveinvestors.com.au/companies/news/197656/tinka-resources-hails-one-of-the-best-drill-assays-yet-at-west-ayawilca-peru-197656.html 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.

READ: Tinka Resources closes upsized and oversubscribed C$2.4mln second tranche private placement

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.

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Thu, 24 May 2018 09:54:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197656/tinka-resources-hails-one-of-the-best-drill-assays-yet-at-west-ayawilca-peru-197656.html
<![CDATA[News - Tinka Resources closes upsized and oversubscribed C$2.4mln second tranche private placement ]]> https://www.proactiveinvestors.com.au/companies/news/196069/tinka-resources-closes-upsized-and-oversubscribed-c24mln-second-tranche-private-placement-196069.html Tinka Resources Ltd. (CVE:TK) said it has closed the second and final tranche of its non-brokered private placement financing of units of the company, raising a total of C$2.409mln.

This brings the total amount raised through its bought deal, first tranche and second tranche to C$16,239,496.

READ: Tinka Resources signs subscription agreements for second tranche of placement

The company said net proceeds from the second tranche will be used to finance exploration expenditures at the Ayawilca project in Peru, as well as for other corporate purposes and general working capital.

No commissions or finder's fees were paid by Tinka in connection with the closing of the second tranche.

In a statement, the company said it has issued 5.02mln units at an issue price of 48 cents per unit.

The second tranche has accommodated the rights of World Bank Group’s International Finance Corp. and Sentient Global Resources Fund IV LP, two existing shareholders, who exercised their existing contractual pre-emptive rights as a result of the company's public offering of units which closed on 4 April 2018, and the first tranche of the private placement financing that closed on 6 April 2018.

Tinka said IFC acquired 3.95mln units under the second tranche, raising C$1,896,000, giving it an 11.5% stake in the issued and outstanding common shares of Tinka, and 13.2%, assuming the exercise of all of IFC's 9,823,837 warrants on a fully diluted basis.

Sentient, who also participated in the first tranche fund raiser, bought an additional 1.07mln units, under the second tranche, maintaining its pro rata share ownership interest in the company.

Sentient now holds approximately 24.7% of the issued and outstanding common shares of the company, and 23.8%, assuming exercise of all of Sentient's warrants, on a fully diluted basis.

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

Dr. Graham Carman, president and chief executive officer, said: "The company continues to aggressively explore its 100-per-cent-owned Ayawilca project in Peru, which we believe is one of the most exciting predevelopment zinc projects anywhere in the world.

“The company is now fully funded to carry out its planned exploration programs for the next 18 months.”

He added: “Drilling has already been stepped up to three rigs, and we look forward to disclosing the results of the drill programs, and other planned work such as metallurgical tests, as results come to hand."

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Mon, 30 Apr 2018 09:46:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196069/tinka-resources-closes-upsized-and-oversubscribed-c24mln-second-tranche-private-placement-196069.html
<![CDATA[News - Tinka Resources rises after intersecting high-grade zinc intervals at West Ayawilca ]]> https://www.proactiveinvestors.com.au/companies/news/195785/tinka-resources-rises-after-intersecting-high-grade-zinc-intervals-at-west-ayawilca-195785.html 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.

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Wed, 25 Apr 2018 13:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195785/tinka-resources-rises-after-intersecting-high-grade-zinc-intervals-at-west-ayawilca-195785.html
<![CDATA[News - Tinka Resources signs subscription agreements for second tranche of placement ]]> https://www.proactiveinvestors.com.au/companies/news/195696/tinka-resources-signs-subscription-agreements-for-second-tranche-of-placement-195696.html Tinka Resources Limited (CVE:TK) has entered into subscription agreements with the International Finance Corporation (IFC), and Sentient Global Resources Fund IV.

The agreements are in connection with the second tranche of Tinka's previously announced non-brokered private placement financing of units of the company.

READ: Tinka Resources set to raise C$2.4mln in oversubscribed second tranche of placing​

The Second Tranche was necessary to accommodate the IFC and Sentient IV exercising their pre-emptive rights as a result of the company's public offering of units that closed on April 4, 2018 and the first tranche of the placement that closed on April 6, 2018.

In aggregate, the bought deal, first tranche and second tranche comprise a total of 33.8mln units for gross proceeds of C$16.24mln.

The company plans to use the net proceeds from the second tranche of the placement to fund exploration expenditures at the company's Ayawilca project in Peru, as well as for other corporate purposes and general working capital.

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Tue, 24 Apr 2018 12:35:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195696/tinka-resources-signs-subscription-agreements-for-second-tranche-of-placement-195696.html
<![CDATA[News - Tinka Resources set to raise C$2.4mln in oversubscribed second tranche of placing ]]> https://www.proactiveinvestors.com.au/companies/news/195163/tinka-resources-set-to-raise-c24mln-in-oversubscribed-second-tranche-of-placing-195163.html Tinka Resources Ltd (CVE:TK) told investors it had increased the size of its second tranche placing to raise C$2.4mln due to certain shareholders exercising pre-emptive rights.

Earlier this month, it closed the first tranche, bringing in C$5.77mln.

And that came hot on the heels of the group raising over C$8mln in an oversubscribed bought deal financing to be used for exploration in Peru.

The International Finance Corp (IFC) has proposed to acquire 3.95mln units at 48 cents a throw for gross proceeds of C$1,896,000.

As a result of IFC's participation in the is second tranche, Sentient Global Resources Fund IV (Sentient IV), an insider of Tinka, has exercised its pre-existing pre-emptive right.

Thus, it will subscribe for 1,070,000 units for gross proceeds of C$513,600, to maintain its pro-rata share ownership interest in Tinka.

Each unit consists of one share, and one-half of a share purchase warrant, which will entitle the holder to acquire one share for 75 cents for one year from closing.

Proceeds will be used for exploration at the Ayawilca project in Peru, as well as for other corporate purposes and general working capital.

Ayawilca lies in the zinc-lead-silver belt of central Peru, 200km northeast of Lima.

The Ayawilca Zinc zone has an inferred mineral resource of 42.7Mt (million tons) at 6% zinc, 0.2% lead, 17 g/t (grams per ton) silver and 79 g/t indium.

There is also a tin zone inferred resource of 10.5 Mt at 0.6 % tin, 0.2% copper & 12 g/t silver.

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Tue, 17 Apr 2018 08:27:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195163/tinka-resources-set-to-raise-c24mln-in-oversubscribed-second-tranche-of-placing-195163.html
<![CDATA[News - Tinka Resources brings in more cash to advance Peru project - with first tranche of private placing ]]> https://www.proactiveinvestors.com.au/companies/news/194552/tinka-resources-brings-in-more-cash-to-advance-peru-project-with-first-tranche-of-private-placing-194552.html Tinka Resources Ltd (CVE:TK) has brought more funds in - having closed the first tranche of a private placing for C$5.77mln.

It comes after last week, the group raised over C$8mln in an oversubscribed bought deal financing to be used for exploration in Peru.

As with both financings, the firm plans to use the net proceeds to finance exploration at the Ayawilca project in Peru, as well as for other corporate purposes.

As part of the first tranche, Sentient Global Resources Fund IV LP exercised its pre-existing participation rights and bought over 7.3 mln shares for C$3,514,800 and now has around 24.7% of the shares.

"We are pleased to close the first tranche of the private placement financing," said Dr Graham Carman, Tinka president and chief executive.

"I wish to thank Sentient Equity Partners for their continued support of the company, along with several other existing shareholders, and those that have participated in the president's list. I would also like to welcome several Peruvian investors to the Tinka shareholder register for the first time.

"The funds raised are anticipated to enable the company to execute its exploration objectives at the Ayawilca zinc project in Peru over the next 12 to 18 months" he added.

"During 2018 we are planning up to 15,000 metres of step-out drilling at the Ayawilca project, targeting additional zinc resources at the Zone 3, Valley, and extensions to South and West Ayawilca areas.

"We anticipate updating the mineral resources and completing a preliminary economic assessment during the second half of 2018.

"Two drill rigs are currently operating on site. I look forward to updating our shareholders as the drill results become available."

Under this first tranche, each unit consisted of one share and one-half a share purchase warrant.

Each warrant entitles the holder to buy one share at 75 cents at any time before April 6 2019.

Shares in Tinka added 4.35% to 48 Canadian cents on the day.

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Mon, 09 Apr 2018 14:02:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194552/tinka-resources-brings-in-more-cash-to-advance-peru-project-with-first-tranche-of-private-placing-194552.html
<![CDATA[News - Tinka Resources brings in over C$8mln from financing for Peru work ]]> https://www.proactiveinvestors.com.au/companies/news/194274/tinka-resources-brings-in-over-c8mln-from-financing-for-peru-work-194274.html Tinka Resources Ltd (CVE:TK) raised over C$8mln in an oversubscribed bought deal financing to be used  for exploration in Peru.

The resource firm said 16.79mln units were sold at 48 cents each for gross proceeds of C$8,059,200. That included an overallotment option, which the underwriters exercised in full, Tinka said.

"The net proceeds from the offering will be used to finance exploration expenditures and related costs related to the phase 1 recommended work program at the company's Ayawilca project in Peru, for further exploratory drilling at the Ayawilca project, as well as for general working capital and corporate purposes," the group said in a regulatory filing.

Each unit consisted of one share and one-half of a warrant, which allows the bearer to acquire one company share for 75 cents until April 4, 2019.

Concurrent with the offering, Tinka is carrying out a private placement of up to 14mln units for additional gross proceeds of up to C$6.72mln to certain existing shareholders.

That placing is expected to close on or about April 6 this year.

Tinka's flagship property is the 100% owned Ayawilca carbonate replacement deposit (CRD) in the zinc-lead-silver belt of central Peru, 200km northeast of Lima.

The Ayawilca zinc zone inferred mineral resource now consists of 42.7 million tonnes at 6% zinc, 0.2% lead, 17 grams per tonne (g/t) silver and 79 g/t indium, and a tin zone inferred mineral resource of 10.5mln tonnes at 0.63% tin, 0.23% copper and 12 g/t silver.

Positive drill results posted earlier this month showed there was a lot more exploration potential at the project, the company said.

Tinka shares added 1.08% to C$0.47.

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Wed, 04 Apr 2018 13:21:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194274/tinka-resources-brings-in-over-c8mln-from-financing-for-peru-work-194274.html
<![CDATA[News - Tinka Resources shareholders re-elect directors at AGM ]]> https://www.proactiveinvestors.com.au/companies/news/193732/tinka-resources-shareholders-re-elect-directors-at-agm-193732.html Tinka Resources Ltd. (CVE:TK) said its directors were re-elected to the board by its shareholders at its annual general meeting held on March 22.

In a statement, the company said Graham Carman, Nick DeMare, Ben McKeown, Pieter Britz and Mary Little were re-elected as directors.

READ: Tinka Resources arranges C$7mln bought deal financing to explore Peru project further

Following the re-election, the board of directors reappointed Carman as president and chief executive officer, McKeown as non-executive chairman, DeMare as chief financial officer, Fernandez-Baca as vice-president of exploration, Mariana Bermudez as corporate secretary and Javier Escudero as HSEC manager.

In addition, DeMare, McKeown and Little were appointed as members of the audit

In addition, shareholders also ratified the company's 10% rolling stock option plan and the appointment of D&H Group LLP, chartered accountants, as the auditor of the company.

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Fri, 23 Mar 2018 14:14:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193732/tinka-resources-shareholders-re-elect-directors-at-agm-193732.html
<![CDATA[News - Tinka Resources arranges C$7mln bought deal financing to explore Peru project further ]]> https://www.proactiveinvestors.com.au/companies/news/193089/tinka-resources-arranges-c7mln-bought-deal-financing-to-explore-peru-project-further-193089.html Tinka Resources Ltd (CVE:TK) is set to bring in C$7mln from a bought deal financing for exploration at the Ayawilca project in Peru, as well as for general working capital.

A syndicate of underwriters will buy, on a bought-deal basis, 14.6mln units at 48 cents a throw.

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

Each unit will consist of one share and one-half of a warrant.

The latter will entitle the holder to acquire one company share for 75 cents for 12 months following the closing of the deal.

There is an overallotment option for the underwriters to buy for 30 days a further 2.19mln units at the same price.

If this option is exercised in full, an additional approximate C$1.051mln in gross proceeds will be raised and the total gross proceeds of the offering will be around C$8.059mln.

Concurrent with the offering, Tinka will carry out a non-brokered private placing of up to 12.5mln units for additional gross proceeds of up to C$6mln to certain existing shareholders.

The offering is scheduled to close on or around April 4 this year.

Tinka's flagship property is the 100% owned Ayawilca carbonate replacement deposit (CRD) in the zinc-lead-silver belt of central Peru, 200km northeast of Lima.

The Ayawilca zinc zone inferred mineral resource now consists of 42.7 million tonnes at 6% zinc, 0.2% lead, 17 grams per tonne (g/t) silver and 79 g/t indium, and a tin zone inferred mineral resource of 10.5mln tonnes at 0.63% tin, 0.23% copper and 12 g/t silver.

Positive drill results posted earlier this month showed there was a lot more exploration potential at the project, the company said.

“Other priority targets for this year include extensions of the mineralisation at west, south, and central Ayawilca," Dr Graham Carman, Tinka's president and chief executive had said.

"A new geological interpretation suggests that high-grade, thick zinc mineralisation generally lies near the intersection points of northeast-trending faults and north-south-trending folds in the strata.”

READ: Tinka Resources appoints Benedict McKeown as new non-executive chairman

Tinka plans to drill an additional 25 to 30 step out holes into a range of targets during the first half of 2018, Carman added.

The company’s two key objectives for 2018 are to its exploration drill program targeting additional zinc resources at Ayawilca with 15,000 metres of drilling planned; and advance the project with desktop mining studies and detailed metallurgical tests that will form the basis of a preliminary economic assessment (PEA) planned for the second half of 2018.

"Exact timing of the PEA will depend on the extent to which significant new mineralisation is identified in the first half of 2018,” Carman told investors.

Tinka shares in Toronto are down 3.92% to C$0.49.

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Tue, 13 Mar 2018 09:36:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193089/tinka-resources-arranges-c7mln-bought-deal-financing-to-explore-peru-project-further-193089.html
<![CDATA[News - Tinka Resources releases assay results at Ayawilca zinc project in Peru ]]> https://www.proactiveinvestors.com.au/companies/news/191732/tinka-resources-releases-assay-results-at-ayawilca-zinc-project-in-peru-191732.html Tinka Resources Ltd.(CVE:TK) has released the assay results for a further nine drill holes from its 100%-owned Ayawilca zinc project in central Peru.

In a statement, the company said four holes (107, 109, 110 and 111) were drilled at the new zone 3 discovery area, part of a large geophysical target believed to be the northeastern extension of Ayawilca.

READ: Tinka Resources appoints Benedict McKeown as new non-executive chairman

An additional five holes were drilled at south, west and central Ayawilca.

Drilling of hole A18-112 at zone 3 has started, with a second drill rig expected to start up once the wet weather conditions improve next month.

Tinka said high-grade zinc mineralisation intersected in holes A18-110 and A18-111 at zone 3 is associated with flat-dipping massive sulphide replacements of the Pucara limestone and lower Goyllar sandstone, similar in style to the zinc mineralisation at south and west Ayawilca.

High-grade vein-style polymetallic mineralisation (zinc-lead-silver-tin) has been intersected in phyllite rocks at zone 3 (hole A17-109), which represents a new style of mineralisation encountered at Ayawilca for the first time.

The high-grade polymetallic veins are believed to be feeder structures for the zinc and tin.

Dr. Graham Carman, Tinka's president and chief executive officer, said in a statement on Thursday: "The discovery of high-grade mineralisation in limestones and in deep veins at zone 3 is very exciting, as it opens up a lot more exploration potential at the project.

“Other priority targets for this year include extensions of the mineralisation at west, south, and central Ayawilca.

“A new geological interpretation suggests that high-grade, thick zinc mineralisation generally lies near the intersection points of northeast-trending faults and north-south-trending folds in the strata.”

Tinka plans to drill an additional 25 to 30 stepout holes into a range of targets during the first half of 2018, Carman added.

READ: Ayawilca, the Peru project, keeps on delivering for Tinka Resources

The company’s two key objectives for 2018 are to its exploration drill program targeting additional zinc resources at Ayawilca with 15,000 metres of drilling planned; and advance the project with desktop mining studies and detailed metallurgical tests that will form the basis of a preliminary economic assessment (PEA) planned for the second half of 2018.

"Exact timing of the PEA will depend on the extent to which significant new mineralisation is identified in the first half of 2018,” Carmen said.

He noted that zinc prices are close to 11-year highs while inventories are reaching critically low levels not seen since 2008.

“In particular, there remains a shortage of large high-grade exploration-development projects for zinc in good mining jurisdictions, like Ayawilca, in the marketplace."

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Thu, 15 Feb 2018 11:31:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191732/tinka-resources-releases-assay-results-at-ayawilca-zinc-project-in-peru-191732.html
<![CDATA[News - Tinka Resources appoints Benedict McKeown as new non-executive chairman ]]> https://www.proactiveinvestors.com.au/companies/news/191726/tinka-resources-appoints-benedict-mckeown-as-new-non-executive-chairman-191726.html Tinka Resources Ltd (CVE:TK) said it has appointed Benedict McKeown as its new non-executive chairman with immediate effect.

In a statement, the exploration and development company said that prior to McKeown’s appointment, the company did not have a chairman of the board of directors.

READ: Tinka Resources shares lifted on new discovery at Ayawilca project, Peru

McKeown was appointed a member of the board in August last year.

He brings a “wealth of experience from his 25 years of commercial, financial, strategic and technical experience including in iron ore, lithium, precious metals, base metals, and oil and gas.”

The new chairman has served as both independent director and chairman of boards and board committees in several listed and unlisted companies, the statement added. 

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Thu, 15 Feb 2018 09:12:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191726/tinka-resources-appoints-benedict-mckeown-as-new-non-executive-chairman-191726.html
<![CDATA[News - Tinka Resources appoints mining professional to board ]]> https://www.proactiveinvestors.com.au/companies/news/189742/tinka-resources-appoints-mining-professional-to-board-189742.html Metals explorer Tinka Resources Ltd (CVE:TK) said industrial engineer Pieter Britz has become a new director, while Yanina Barila has resigned.

The former has over two decades' experience as a mining professional and has served on the board of a number of resource companies in Canada, Australia and China.

Excellent addtion to board

He spent three years in investment banking with the Royal Bank of Canada in Australia until 2007 when he joined The Sentient Group, the private equity firm.

"We are pleased to welcome Pieter to the board of Tinka," said Dr Graham Carman, president and chief executive.

Pieter's extensive technical and capital markets experience is an excellent addition to the skill set of our board."

He also thanked Yanina Barila for her services as a director.

"She has been a valuable contributor to the Tinka board, and we wish her all the best in her current and future roles," he said.

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Tue, 09 Jan 2018 08:32:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189742/tinka-resources-appoints-mining-professional-to-board-189742.html
<![CDATA[News - Ayawilca, the Peru project, keeps on delivering for Tinka Resources ]]> https://www.proactiveinvestors.com.au/companies/news/188393/ayawilca-the-peru-project-keeps-on-delivering-for-tinka-resources-188393.html Tinka Resources Ltd (CVE:TK) is making good progress in scaling up its zinc project in Peru where it could be onto a 'world class' discovery.

In the latest statement, the firm unveiled a new discovery at its Ayawilca project and assays from six new holes.

One hole hit what the group called "significant" mineralization at the "Zone 3" area for the first time - a new discovery.

It  uncovered 10.3 metres at 5.9 % zinc, 2% lead and 66 g/t (grams per ton) silver from 570.2 metres.

That included 4.5 metres at 9.4% zinc, 1.1 % lead and 45 g/t silver from 576 metres depth, and 13.5 metres at 0.83 % tin, 0.39 % copper & 54 g/t silver from 588.50 metres depth.

"A drill rig will continue to operate in the Zone 3 area following-up on this exciting discovery. Drilling is now expected to continue well into 2018 without a break, other than for the Christmas period," said chief executive Dr Graham Carman.

A doubling of resources...

Last month, the firm reached another milestone, as it more than doubled the inferred resources at its  Ayawilca deposit.

The inferred zinc resource at Ayawilca is now put at 42.7 million tonnes grading 7.3 % zinc equivalent (ZnEq), compared to 18.8 million (mln) tonnes at a grade of 8.2% zinc equivalent (ZnEq), previously.

Significantly, Tinka also announced an updated tin-copper-silver resource estimated to be 10.5 million tonnes at a grade of 0.70% tin equivalent (SnEq) - providing the potential for upside for exploiting other commodities.

The tin Zone and the zinc zone resources do not overlap.

It all meant that Ayawilca now has 5.6 billion pounds of contained zinc classified as inferred resources, with potential for more as the resources are open in several directions.

Well-funded for development..

Recently, Tinka has boosted its coffers by bringing in over C$3.78mln from the exercise of warrants.

The funds will be used for the continuing drill program, engineering and metallurgical studies at the company's Ayawilca zinc and tin project in Peru, and for general working capital, it said.

So what is Ayawilca and are there other assets?

Ayawilca is a 150 sq km area 200 km northeast of Lima in Central Peru. It is 40 km northwest of the world-class Cerro de Pasco zinc-lead-silver mine, and 100 km south of the giant copper-zinc Antamina mine.  Tinka owns 100% of the concessions.

Tinka also has the Colquipucro near surface silver deposit, which is what bought the company into the area in the first place (and where zinc was found beneath the silver) which lies around 2 kilometres north-northwest of zinc discovery.

There, the higher confidence indicated resource stands at 14.3 million ounces of contained silver at 60 g/t silver, while inferred is 13.2mln ounces at 48 g/t.

In December last year, Tinka discovered a new zinc prospect at Pucarumi, which lies several kilometres northwest of the  inferred zinc resource and within its existing mining claims in central Peru.

Rising zinc prices...?

Tinka's progress comes encouragingly when zinc is generally doing well.

It has taken a pause this year, before rallying again, and around the end of last month was up by 20% or so on the year.

Inventories too have been supportive for the metal, with London Metal Exchange stock having fallen by around 50% in the year so far, while Chinese stocks are down by almost 45% over the same time.

So Tinka looks like a stock to watch...

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Wed, 06 Dec 2017 15:32:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188393/ayawilca-the-peru-project-keeps-on-delivering-for-tinka-resources-188393.html
<![CDATA[News - Tinka Resources shares lifted on new discovery at Ayawilca project, Peru ]]> https://www.proactiveinvestors.com.au/companies/news/188387/tinka-resources-shares-lifted-on-new-discovery-at-ayawilca-project-peru-188387.html Shares in Tinka Resources Ltd (CVE:TK)  surged over 15% in Toronto today as it announced a new mineral discovery at its Ayawilca project in Peru and assays from six new holes.

Three holes were resource step-out at South Ayawilca, while two holes represented resource infill work, and one hit what the group called "significant" mineralization at the "Zone 3" area for the first time - a new discovery.

That hole (A17-091A) uncovered 10.3 metres at 5.9 % zinc, 2% lead and 66 g/t (grams per ton) silver from 570.2 metres.

That included 4.5 metres at 9.4% zinc, 1.1 % lead and 45 g/t silver from 576 metres depth, and 13.5 metres at 0.83 % tin, 0.39 % copper & 54 g/t silver from 588.50 metres depth.

Very significant intercepts...

"We believe the new intercepts in drill hole A17-091A are very significant, as they open up the Zone 3 area for potential resource expansion in an area that has seen little drilling," said Dr Graham Carman, Tinka's president and chief executive.

"The same magnetic anomaly that outlines the Ayawilca Zinc and Tin Zones continues into Zone 3, extending the prospective zone by hundreds of metres to the northeast.

"A drill rig will continue to operate in the Zone 3 area following-up on this exciting discovery. Drilling is now expected to continue well into 2018 without a break, other than for the Christmas period."

An updated resource...

In November this year, when Tinka announced a more than doubling of the inferred resources at its  Ayawilca deposit in Peru.

The firm also announced an updated tin-copper-silver resource estimated to be 10.5 million tonnes at a grade of 0.70% tin equivalent (SnEq).

The tin Zone and the zinc zone resources do not overlap.

Carman noted that today's holes were the first to be released following the resource upgrade.

"A large 750-metre gap remains undrilled between significant zinc intersections at South Ayawilca and Zone 3.

"While exploration drilling continues with the goal of expanding the project resources, we are concurrently working on de-risking the project through metallurgical tests of the two main styles of mineralization as well as beginning preliminary desktop mining studies. We look forward to providing updates on these programs as they progress," he added.

Shares up...

Tinka shares added over 5% in Toronto to C$0.62.

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Wed, 06 Dec 2017 10:51:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188387/tinka-resources-shares-lifted-on-new-discovery-at-ayawilca-project-peru-188387.html
<![CDATA[News - Tinka Resources well funded for Ayawilca project development after warrant exercise ]]> https://www.proactiveinvestors.com.au/companies/news/188077/tinka-resources-well-funded-for-ayawilca-project-development-after-warrant-exercise-188077.html Tinka Resources Ltd (CVE:TK) has boosted its coffers by bringing in over C$3.78mln from the exercise of warrants.

The funds will be used for the continuing drill program, engineering and metallurgical studies at the company's Ayawilca zinc and tin project in Peru, and for general working capital.

READ - Tinka Resources advances after doubling inferred resources at Ayawilca READ - Tinka Resources heartened by tin assays at South Ayawilca

In all, over 12.6 share purchase warrants were exercised at 30 cents a pop (current price is around C$0.66), Tinka said.

The warrants were issued in connection with the closing of a private placing undertaken in May, 2015, which were due to expire on November 29 this year.

"I am pleased to report that the company's treasury has been topped up by $3.7-million due to the exercise of warrants held mostly by the company's two largest shareholders," said Dr Graham Carman, president and chief executive.

"Tinka now has sufficient cash to fund exploration drilling and resource development work at the Ayawilca project well into 2018.

"Tinka's exploration drill program is ongoing and the company is planning to continue drilling for the foreseeable future, focussing on the testing of new target areas and extensions of the known zinc mineralization.

"The current inferred mineral resource estimate at Ayawilca is 42.7 million tonnes grading 7.3 per cent zinc equivalent.

"We believe there remains significant potential for resource expansion at Ayawilca.

"Simultaneously, we are working on derisking the project through detailed metallurgical tests of zinc sulphide mineralization from different parts of the deposit, along with preliminary desktop mining studies."

It's been a busy month for the group, reaching a major milestone at Ayawilca when it more than doubled the inferred resources to 42.7 million tonnes.

Previously, the inferred resource was  estimated to total 18.8 million (mln) tonnes at a grade of 8.2% zinc equivalent (ZnEq).

Tinka has also announced an updated tin-copper-silver resource estimated to be 10.5 million tonnes at a grade of 0.70% tin equivalent (SnEq).

The tin Zone and the zinc zone resources do not overlap.

That tin resource represented an increase of 60% since the last resource estimate to now include 145 million pounds of contained tin.

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Thu, 30 Nov 2017 11:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188077/tinka-resources-well-funded-for-ayawilca-project-development-after-warrant-exercise-188077.html
<![CDATA[News - Tinka Resources advances after doubling inferred resources at Ayawilca ]]> https://www.proactiveinvestors.com.au/companies/news/186963/tinka-resources-advances-after-doubling-inferred-resources-at-ayawilca-186963.html  

Tinka Resources Ltd (CVE:TK) has described as a major milestone, the more than doubling of the inferred resources at its  Ayawilca deposit in Peru.

The latest estimate includes around 15,000 meters (m) of drilling, which has been completed in 2017 so far.

The inferred zinc resource at Ayawilca is now estimated to be 42.7 million tonnes grading 7.3 % zinc equivalent (ZnEq), the firm revealed.

Previously, the inferred resource was  estimated to total 18.8 million (mln) tonnes at a grade of 8.2% zinc equivalent (ZnEq).

Significantly, Tinka also announced an updated tin-copper-silver resource estimated to be 10.5 million tonnes at a grade of 0.70% tin equivalent (SnEq).

The tin Zone and the zinc zone resources do not overlap.

"These updated mineral resource estimates are a major milestone for the company," said Dr Graham Carman, the firm's president and chief executive.

"Ayawilca now has 5.6 billion pounds of contained zinc classified as Inferred resources, with significant potential for more as the resources are open in several directions.

"The updated zinc mineral resource shows a 130 % increase in total contained pounds of zinc since the last resource estimate (May 2016), and a 127 % increase in overall tonnage (from 18.8 Mt to 42.7 Mt).

"The zinc grade has gone up slightly to 6.0 % Zn (from 5.9 % Zn) while the zinc equivalent grade has decreased to 7.3 % ZnEq (from 8.2 % ZnEq) due to a higher zinc price and a lower indium price."

Carman added that importantly, South Ayawilca now forms a high-grade core with 13.3 million tonnes grading 7.6 % zinc.

In addition, the tin mineral resource has increased by 60 % since the last resource estimate to now include 145 million pounds of contained tin," the company boss said.

Shares in the company zipped up on Wednesday in Toronto almost 7% to stand at C$0.79.

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Wed, 08 Nov 2017 10:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186963/tinka-resources-advances-after-doubling-inferred-resources-at-ayawilca-186963.html
<![CDATA[News - Tinka Resources heartened by tin assays at South Ayawilca ]]> https://www.proactiveinvestors.com.au/companies/news/186751/tinka-resources-heartened-by-tin-assays-at-south-ayawilca-186751.html Assays from Tinka Resources Limited's (CVE:TK) recent drilling campaign at its South Ayawilca asset in Peru returned grades of 1.6% tin.

The company released assay results for eight drill holes from South Ayawilca, which is primarily regarded as a zinc discovery, but which clearly has plenty of tin as well.

Highlights of the assays include:

Hole A17-063:

13.0 metres (m) at 1.57% tin from 273m depth, including 4.0 metres at 2.82% tin from 275m depth;

5.5 metres at 1.22% tin, 0.22% copper and 16 grams per tonne (g/t) silver from 369m depth, including 1.1 metres at 3.72% tin, 0.81% copper and 32 grams per tonne silver from 373.4m depth.

Hole A17-069:

39.0 metres at 0.37% tin from 206m depth.

Hole A17-070:

16.7 metres at 0.51% tin from 285m depth, including 3.3 metres at 1.45% tin from 286.7m depth, and 2.0 metres at 2.16% tin from 348.0m depth, and 2.0 metres at 1.42% tin, 0.56% copper and 75 g/t silver from 362 m depth.

Hole A17-56:

15.1 metres at 0.56% tin from 212m depth, including 3.95 metres at 1.07% tin from 217.35m depth.

"Tinka is focusing on realizing the potential of the extensive high-grade zinc mineralization at Ayawilca; however, we believe the project also offers additional upside for other commodities, especially for tin, which occurs in separate mineralized bodies to the zinc,” said Dr Graham Carman, Tinka's president and chief executive officer.

“Tin intercepts reported here from South Ayawilca are believed to connect with the Central Ayawilca tin resource, extending the footprint of the tin mineralization by several hundred metres. Tin is currently trading at about six times the price of zinc, and about three times the price of copper on the London Metals Exchange, so these tin intercepts are potentially significant to the project,” he added.

Meanwhile, the company also released details of zinc assays for four new drill holes from the Ayawilca South and Valley zones.

In the Valley Area one hole intercepted 1.5m at 6.6% zinc, 0.5% lead and 13 g/t silver, while another intercepted 11.7m at 3.2% zinc, 0.2% lead and 32 g/t silver.

At South Ayawilca, one hole intercepted 1.8m at 14.8% zinc, 0.1% lead and 48 g/t silver, plus 2m at 7.2% zinc, 0.6% lead, 163 g/t silver and 146 g/t indium; another hole intercepted 3.4 metres at 4.3% and 18 g/t silver plus 3.7m at 4.3% zinc and 11 g/t silver.

"Drill results from the Valley area, about one kilometre north of the Ayawilca zinc zone resources, indicate that the Ayawilca zinc system is very large and has significant potential to grow,” Dr Carman said.

“We plan to continue drill testing for new zinc discoveries even as an updated resource estimate is being finalized. This strategy allows Tinka to pursue the blue-sky potential of Ayawilca, while simultaneously working towards derisking the known resources."

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Fri, 03 Nov 2017 16:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186751/tinka-resources-heartened-by-tin-assays-at-south-ayawilca-186751.html
<![CDATA[News - Tinka Resources starts trading on Lima stock exchange ]]> https://www.proactiveinvestors.com.au/companies/news/186123/tinka-resources-starts-trading-on-lima-stock-exchange-186123.html Peru-focused resource group Tinka Resources Ltd (CVE:TK, BVL:TK, OTCPK: TKRFF) said shares in the firm have begun changing hands on the Lima Stock Exchange.

The stock is trading in the capital's exchange under the ticker symbol 'TK'.

"We are excited to be listing Tinka on the Lima stock exchange, at a time of rising zinc prices due to the fundamental shortage of zinc on world metal markets," Dr Graham Carman, president and chief executive, told investors on Tuesday.

"We have confidence in the future of Peru and its mining industry. Central Peru is a world-class zinc producer, and at the Ayawilca project,

"Tinka has one of the largest zinc discoveries in the region in many years. Tinka will be joining a limited number of producing zinc companies already listed on the BVL. Having a local listing will provide an opportunity for investors in the region to own Tinka shares and participate in the future success of our company."

Earlier this month, the firm hailed latest drill results from Ayawilca, which featured one of the best holes from this year's  15,000 meter (m) program.

Hole A17-096 hit high-grade zinc mineralization in two intercepts of over 40 metres each and was one of three further holes sunk at the South Ayawilca discovery part of the property.

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Tue, 24 Oct 2017 08:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186123/tinka-resources-starts-trading-on-lima-stock-exchange-186123.html
<![CDATA[News - Tinka Resources' latest South Ayawilca results feature one of the best holes this year ]]> https://www.proactiveinvestors.com.au/companies/news/184928/tinka-resources-latest-south-ayawilca-results-feature-one-of-the-best-holes-this-year-184928.html Tinka Resources Ltd (CVE:TK) hailed latest drill results from the Ayawilca deposit in Peru, which featured one of the best holes from this year's  15,000 meter (m) program.

Hole A17-096 hit high-grade zinc mineralization in two intercepts of over 40 metres each and was one of three further holes sunk at the South Ayawilca discovery part of the property.

READ  THE BIG PIC - Zinc firm Tinka Resources' latest assays underline Peru project's credentials WATCH - South Ayawilca drilling could reveal a 'world class discovery', says Tinka resources' Graham Carman

The results from the hole showed how there is continuity in the high grade zinc at  South Ayawilca.

"We are thrilled with the intersections in hole A17-096 as they confirm the continuity of thick and high-grade zinc mineralization previously encountered in hole A17-056, said Dr Graham Carman, the firm's president and chief executive.

"South Ayawilca continues to surprise us with its high zinc grades.

"As we enter the final quarter of 2017, our busiest year at the project with more than 15,000 metres drilled to date, we look forward to updating our resource estimate by November."

"In addition, tin assays are being compiled and will be released once our geological interpretations are completed.

"Also, closed-cycle metallurgical flotation tests for zinc composite samples from South, West, and Central Ayawilca are in progress with results expected before year end."

Highlights from A17-096 showed 45.5 metres at 7.8 % zinc  and 111 g/t (grams per ton) indium from 241.5 metres depth, and 40.8 metres at 9.4 % zinc, 15 g/t silver & 145 g/t indium from 315.2 metres depth.

Hole A17-094 showed 1.2 metres at 1.6 % zinc, 2.1 % lead and 193 g/t silver from 394.0 metres depth, while a third hole - A17-093 - showed 9 metres at 2.7 % zinc, 0.7 % lead and 51 g/t silver from 382 metres depth

Mineralization at South Ayawilca remains open to the southeast, east and south and two rigs are continuing to turn there.

 

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Mon, 02 Oct 2017 09:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/184928/tinka-resources-latest-south-ayawilca-results-feature-one-of-the-best-holes-this-year-184928.html
<![CDATA[News - Tinka Resources aiming to update Ayawilca zinc resource by November ]]> https://www.proactiveinvestors.com.au/companies/news/184159/tinka-resources-aiming-to-update-ayawilca-zinc-resource-by-november-184159.html Tinka Resources Ltd (CVE:TK) plans to update the Ayawilca zinc resource by early November when two holes now in progress at South Ayawilca are completed, it said, unveiling more positive assays.

The firm released assays from nine step out holes from the Peru project, saying strong intercepts continue to be found at South Ayawilca and West Ayawilca.

READ - Tinka Resources bolsters board with resource professional as it advances Peru project The Big Picture - Zinc firm Tinka Resources' latest assays underline Peru project's credentials

Dr. Graham Carman, Tinka's chief, said the current campaign was expanding the 'high grade' mineralization at South Ayawilca and growing the West Ayawilca zone beyond the limits of the existing resource model.

"Following up on our successful campaign so far, I am pleased to announce that Tinka is planning an updated estimate of the zinc mineral resources at Ayawilca by early November.

"This resource update will be a significant milestone for the company, and it will incorporate mineralization at the high-grade South Ayawilca discovery.

"Importantly, drilling will continue beyond this period as we test the southern and eastern extensions of South Ayawilca for further high-grade discoveries."

Highlights from the latest holes include 10.8 metres at 16.7 % zinc and 681 g/t (grams per ton) indium from 218.6 metres depth, from South Ayawilca.

At west Ayawilca, there was 1.8 metres at 9.6 % zinc from 292.3 metres depth; 2.4 metres at 14.3 % zinc, 0.2 % lead and 18 g/t silver from 303.1 metres depth.

Carman also noted that Tinka had been recently awarded the accolade of 'Explorer of the Year Americas 2017' by the Mining Journal of London, UK.

"We are very proud of this award as it brings with it recognition of our achievements during the year," he said.

"We also believe there is more exploration upside to be unlocked as zinc mineralization remains open in multiple directions."

Tinka shares slipped around 5% to C$0.55,

 

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Mon, 18 Sep 2017 10:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184159/tinka-resources-aiming-to-update-ayawilca-zinc-resource-by-november-184159.html
<![CDATA[News - Tinka Resources bolsters board with resource professional as it advances Peru project ]]> https://www.proactiveinvestors.com.au/companies/news/182627/tinka-resources-bolsters-board-with-resource-professional-as-it-advances-peru-project-182627.html Tinka Resources Ltd (CVE:TK) has bolstered its board with mining finance professional Ben McKeown.

The Australia resident will join the group as an independent non-executive director.

READ THE BIG PIC - Zinc firm Tinka Resources' latest assays underline Peru project's credentials READ - Tinka Resources' Ayawilca drilling continues to expand zinc footprint

"Ben brings a wealth of experience in leadership, corporate governance, finance and project development to our team," said a  delighted Dr. Graham Carman, Tinka's president and chief executive.

"Ben is a highly respected mining finance professional, and will enhance the skill set of our board at a time of rapid growth in the company as we advance our Ayawilca zinc project in Peru towards development."

During his 25 years in resources including iron ore, lithium, precious  and base metals , McKeown has served on numerous listed and unlisted company's boards as chairman or non-executive director, including Ferrous Resources, Senex Energy, Jordan Energy & Mining, and Rincon Lithium Ltd.

Earlier this week, Tinka released drill results from its Ayawilca zinc project in Peru, which it said,  continued to expand the resource's footprint and highlight additional targets.

Tinka shares eased 1.67% to C$0.59.

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Thu, 17 Aug 2017 11:21:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182627/tinka-resources-bolsters-board-with-resource-professional-as-it-advances-peru-project-182627.html
<![CDATA[News - Tinka Resources' Ayawilca drilling continues to expand zinc footprint ]]> https://www.proactiveinvestors.com.au/companies/news/182486/tinka-resources-ayawilca-drilling-continues-to-expand-zinc-footprint-182486.html Drilling at Tinka Resources Ltd's (CVE:TK) Ayawilca zinc project in Peru continues to expand the resource's footprint and highlight additional targets, the firm said.

The company posted the results from another five stepout holes on Tuesday, including two holes drilled each at West Ayawilca and South Ayawilca.

READ THE BIG PIC - Tinka Resources' shares advance as South Ayawilca drilling continues to excite READ - Tinka Resources continues to find high grade zinc at exciting Ayawilca project

One hole was sunk at the Central Ayawilca.  The project already has an inferred resource of 18.8mln tonnes grading 8.2% zinc equivalent and an upgraded estimate is earmarked for the last quarter of 2017.

Dr Graham Carman, the group's chief executive, said the step-out drill program continued to provide "excellent" results.

"South Ayawilca remains open for zinc extensions over a strike distance of at least 700 metres, towards the southeast, and remains one of our primary target areas for upcoming drilling," he said.

"Significantly, zinc grades improve to the south in some areas associated with massive pyrite replacement rather than pyrrhotite or magnetite, indicating high grade zinc mineralization extends beyond the magnetic geophysical anomalies and opening up new areas to explore," he added.

"At West Ayawilca, high grade zinc mineralization continues at least 150 metres beyond the 2016 resource boundary to the northeast."

Highlight assays from West Ayawilca include 36.25 metres at 5.2 % zinc, 0.2 % lead and  65 g/t (grams per ton) indium from 273.25 metres depth.

At South Ayawilca, the firm hit 1.2 metres at 8.9 % zinc, 0.3% lead and 380 g/t silver from 190 metres depth, and 4.3 metres at 7.8 % zinc, 0.1 % lead and 57 g/t (grams per ton) indium from 400.1 metres depth.

At Central Ayawilca, Tinka reported 2.3 metres at 9.2 % zinc, 11 g/t silver and 79 g/t indium from 337.3 metres depth.

Results have now been reported for 25 of the 35 holes completed in the 2017 drill campaign.

Two diamond rigs continue to operate at the project currently drilling at Zone 3 and South Ayawilca. Results are pending for several holes at the Valley and Chaucha areas.

Shares nudged up 1.72% on the day to stand at C$0.59 each.

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Tue, 15 Aug 2017 10:59:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182486/tinka-resources-ayawilca-drilling-continues-to-expand-zinc-footprint-182486.html
<![CDATA[News - Tinka Resources brings in C$629,000 after CEO exercises stock option ]]> https://www.proactiveinvestors.com.au/companies/news/181235/tinka-resources-brings-in-c629000-after-ceo-exercises-stock-option-181235.html Tinka Resources Ltd (CVE:TK) has brought in C$629,000 after its president and chief executive Dr Graham Carman exercised a stock option.

The option to buy 1.7mln Tinka shares was due to expire on August 5 this year and he bought the  shares at an exercise price of 37 cents each.

To finance the exercise, Dr Carman has sold around 860,000 Tinka shares in a series of private transactions designed to minimize the impact on the share price.

As a result, Tinka said Carman has increased his share ownership in the company

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Thu, 20 Jul 2017 10:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/181235/tinka-resources-brings-in-c629000-after-ceo-exercises-stock-option-181235.html
<![CDATA[News - Tinka Resources continues to be encouraged by Ayawilca project drilling ]]> https://www.proactiveinvestors.com.au/companies/news/180998/tinka-resources-continues-to-be-encouraged-by-ayawilca-project-drilling-180998.html Tinka Resources Ltd (CVE:TK) told investors about further encouraging drill results at its Ayawilca project in central Peru, which continues to expand the South Ayawilca area.

The assays come from five new stepout holes - three at South Ayawilca, and one at West Ayawilca (A17-074).

READ - Tinka Resources continues to find high grade zinc at exciting Ayawilca project READ THE BIG PICTURE - Tinka Resources' shares advance as South Ayawilca drilling continues to excite

Meanwhile, another hole - A17-073 -  was drilled at Zone 3, the first hole into this new target, where sulphide mineralization was encountered, mostly pyrite with minor sphalerite, over a 15-metre interval, the firm said.

At West Ayawilca, 2.2 metres at 31 % zinc, 0.1 % lead and 138 g/t (grams per ton) silver from 71.4 metres depth were enocuntered.

At South Ayawilca, a highlight was 20.8 metres at 5% zinc, 11 g/t silver an 44 g/t indium from 359 metres depth.

"We are very pleased with these new drill results. The zinc discovery at South Ayawilca continues to expand southward, and remains open in several directions," said Dr Graham Carman, Tinka's president and chief executive.

He added that a high-grade silver (zinc-lead) discovery in one hole was also exciting as it opens potential for additional bonanza-grade mineralization along the South Ayawilca Fault, which is largely untested.

Dr Carman added: "We are continuing to test zinc targets at the project and expand the drilling effort.

"Step-out holes are taking place at West and South Ayawilca, with new targets being drilled at Zone 3 and Chaucha.

"The drilling at Zone 3 is progressing well. Indications are that a significant zinc sulphide system could be nearby. Zone 3 is a large target area covering more than 1 km2, and several holes will be needed to evaluate the full potential of that area."

Shares eased 2.94% to $0.66 each.

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Mon, 17 Jul 2017 09:43:00 +1000 https://www.proactiveinvestors.com.au/companies/news/180998/tinka-resources-continues-to-be-encouraged-by-ayawilca-project-drilling-180998.html
<![CDATA[News - Tinka Resources continues to find high grade zinc at exciting Ayawilca project ]]> https://www.proactiveinvestors.com.au/companies/news/179987/tinka-resources-continues-to-find-high-grade-zinc-at-exciting-ayawilca-project-179987.html Tinka Resources Ltd (CVE:TK) continues to find high grade zinc at its Ayawilca project in central Peru, it revealed on Wednesday.

Latest assays come from five holes at the South Ayawilca part of the project and the extension of the Central Ayawilca areas.

They confirm the continuity of high grade zinc in two separate geological bodies  at South Ayawilca over a strike of at least 300 metres.

Another body called a manto is believed to be continuous over a 1km strike from South Ayawilca to Central Ayawilca.

Highlight numbers include 29.3 metres at 10.4 % zinc, 17 g/t (grams per ton) silver and 278 g/t indium from 271.4 metres depth.

That includes 12.1 metres at 19.1 % zinc, 25 g/t silver  and 440 g/t indium from 287.3 metres depth.

"We are extremely pleased with these latest results, which confirm continuity of very high grade zinc mineralization at South Ayawilca over at least 300 metres of strike," said Dr Graham Carman, Tinka's president and chief executive.

"Zinc mineralization also remains open in several directions including to the south, east, and possibly to the west where the favourable stratigraphic horizon may rapidly deepen.

"Hole A17-068, drilled 350 metres along strike from A17-063, shows that the lower mineralized manto is a continuous replacement body and connects with Central Ayawilca."

He added: " Drilling is continuing with step-out holes at West Ayawilca, along with new targets being drilled at Zone 3 and Chaucha. "

Results for the first 16 drill holes of an estimated planned 30 holes for 2017 have now been made public.

Twenty-four holes have so far been completed, with hole A17-080 now beginning, and many assays are pending for both zinc and tin.

Shares in Toronto added 5.26% to $0.60 each..

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Wed, 28 Jun 2017 10:01:00 +1000 https://www.proactiveinvestors.com.au/companies/news/179987/tinka-resources-continues-to-find-high-grade-zinc-at-exciting-ayawilca-project-179987.html
<![CDATA[News - Tinka Resources shares lifted by latest Ayawilca drill results ]]> https://www.proactiveinvestors.com.au/companies/news/178980/tinka-resources-shares-lifted-by-latest-ayawilca-drill-results-178980.html Tinka Resources Ltd (CVE:TK) has reported further encouraging drill results from its Ayawilca zinc project in central Peru, which could boost existing resources.

Among the latest assays is one of the best intersections of zinc at the project so far - at 47.7 metres grading 11.3% zinc, which also had high indium credits.

The results are from five holes, all in the South Ayawilca area.

READ -  Tinka Resources' shares advance as South Ayawilca drilling continues to excite READ - Tinka Resources extending high grade zinc at Ayawilca project in Peru

Significantly, the firm  said, all assays from 2017 have defined high grade zinc mineralization at South Ayawilca over a northeast-southwest strike length of 370 metres (m) -  connecting the South Ayawilca discovery area to the Central Ayawilca zinc resource.

Dr Graham Carman, Tinka's president and chief executive, said: "These latest drill results continue to show strong zinc mineralization in our step-out drill program at South Ayawilca.

"There now appears to be continuity of the zinc mineralization between South & Central Ayawilca, which could add an additional 500 metres of mineralization along strike extension to our existing resources.

"Massive to semi-massive sulphides occur throughout the mineralized sequence.

"We are finding that the zinc mineralization is zoned around iron sulphides (mostly pyrrhotite with lesser pyrite) which may also host tin mineralization (note: tin assays are pending).

"We have also encountered an important northeast-trending fault, and can confirm that post-mineral movement has displaced mineralization laterally which opens additional exploration opportunities. "

Other highlights today include 0.8 metres at 37.5 % zinc, 0.5 % lead and 69 g/t (grams per ton) silver from 50.3 metres depth.

In another hole, there was an intersection of 2.6 metres at 20.6 % zinc, 23 g/t silver & 529 g/t indium from 236.2 metres depth.

Tinka has now released results from 11 holes of an estimated 30, planned for 2017, and 17 have been completed.

Currently, there are two rigs turning at South and Central Ayawilca focusing on resource expansion.

A third rig is currently testing the possible extensions of West Ayawilca and a fourth rig has started at Zone 3, a new area located 700 hundred metres northeast of the existing zinc resource.

The Ayawilca zinc zone has an inferred resource of 18.8 Mt (million tonnes) at 5.9 % zinc, 0.2 % lead, 15 g/t silver and 74 g/t indium.

A tin zone inferred resource stands at 5.4 Mt (million tonnes) at 0.76 % tin, 0.31 % copper and 18 g/t silver.

Tinka shares are up almost 7% to $0.63 in Toronto.

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Thu, 08 Jun 2017 09:56:00 +1000 https://www.proactiveinvestors.com.au/companies/news/178980/tinka-resources-shares-lifted-by-latest-ayawilca-drill-results-178980.html
<![CDATA[News - Zinc firm Tinka Resources' latest assays underline Peru project's credentials ]]> https://www.proactiveinvestors.com.au/companies/news/178432/zinc-firm-tinka-resources-latest-assays-underline-peru-project-s-credentials-178432.html Tinka Resources Ltd (CVE:TK) is no doubt making good progress in scaling up its zinc project in Peru where it could be on to a 'world class' discovery.

The Ayawilca zinc zone already has an inferred mineral resource of 18.8 million tonnes at 8.2% zinc equivalent, and the firm has been focused recently on the South Ayawilca zone, where it has promisingly hit good grades in a bid to expand the potential resource.

Newsflow has been thick and fast and it looks set to continue, with an updated resource estimnate earmarked for the last quarter of 2017.

Today (August 15), it said latest drill results continued to expand the resource's footprint and highlight additional targets.

Results have now been reported for 25 of the 35 holes completed in the 2017 drill campaign, and todays five hole results covered  the West Ayawilcq, South Ayawilca and Central zones.

Shares on the move..

Shares have also rallied. Tinka stock stood at 22 cents at the beginning of March and is today at 59 cents - up 1.72% on the day.

In April, chief executive Dr Graham Carman, said of the first two holes of this year's 10,000 metre drill program at Ayawilca, they were "undoubtedly" the best adjacent  holes ever sunk at the deposit.

Highlights included 51.9 metres at 10.1 % zinc and 62 grams per ton (g/t) silver, and 14.9 metres at a very impressive 20.6 % zinc.

"These grades are pretty spectacular," he told Proactive at the time.

"You don't get those sort of thicknesses and grades everyday in drillholes  in a new property."

 

WATCH  - South Ayawilca drilling could reveal a 'world class discovery', says Tinka Resources' Graham Carman So what are the Ayawilca property and the firm's other assets?

Ayawilca is a 150 sq km huge area of land 200 km northeast of Lima in the Department of Pasco, Central Peru. It is 40 km northwest of the world-class Cerro de Pasco zinc-lead-silver mine, and 100 km south of the giant copper-zinc Antamina mine.  Tinka owns 100% of the concessions.

Tinka also has the Colquipucro near surface silver deposit, which is what bought the company into the area in the first place (and where zinc was found beneath the silver) which lies around 2 kilometres north-northwest of zinc discovery.

The higher confidence indicated resource stands at 14.3 million ounces of contained silver at 60 g/t silver, while inferred is 13.2mln ounces at 48 g/t.

In December last year, Tinka discovered a new zinc prospect at Pucarumi, which lies several kilometres northwest of the  inferred zinc resource (18.8mln tonnes grading 8.2% zinc equivalent) and within its existing mining claims in central Peru.

High-grade mineralization grading up to 19% zinc and 8% lead occurs in two subparallel horizons at Pucarumi within Cretaceous-age limestones over a strike length of 1.5 kilometres, the firm revealed

Rising zinc prices...?

And all of Tinka's progress comes encouragingly at a  time of rising zinc prices.

In 2016, the metal commonly used in galvanizing steel, has an excellent 2016, rising around 60%. This year hasn't been quite so meteoric, but the signs  are promising of a further uplift, due to a surge in Chinese steel prices.

One official study this year has forecast global demand of the refined metal would exceed supply by 226,000 tonnes in 2017.

Zinc is now at around the US$2,900 per tonne mark. Earlier this year, Canadian broker RBC Capital noted it believes zinc will advance to $1.35 a pound or $2,976 a tonne over the year and singled out the metal as one with the "best fundamentals".

In August last year, Carman told Proactive that the fundaments for zinc were “absolutely fantastic”.

Tinka is a pre-revenue explorer, and the net loss for the six months to end March was $1.12mln (2016: $361,000). It had cash of $10.8mln at the end of the period compared to $3.7mln at the same time last year.

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Mon, 29 May 2017 11:22:00 +1000 https://www.proactiveinvestors.com.au/companies/news/178432/zinc-firm-tinka-resources-latest-assays-underline-peru-project-s-credentials-178432.html
<![CDATA[News - Tinka Resources extending high grade zinc at Ayawilca project in Peru ]]> https://www.proactiveinvestors.com.au/companies/news/177246/tinka-resources-extending-high-grade-zinc-at-ayawilca-project-in-peru-177246.html Tinka Resources Ltd (CVE:TK) continues to extend high grade zinc mineralisation through drilling at the South Ayawilca part of its zinc project in Peru, it told investors.

It has released results from four new holes - three of which were drilled into the new discovery area at South Ayawilca - while a fourth was drilled at West Ayawilca.

Highlights from the South Ayawilca drilling included  7.9 metres at 29.3 % zinc, 71 g/t (grams per ton) silver and 719 g/t indium from 224.1 metres in depth.

Hole A17-058 at West Ayawilca showed 4.2 metres at 20.2 % zinc, 4.2 % lead and 329 g/t silver from 103.5 metres depth.

Hails first two holes...

Last month, the firm hailed results from the first two holes of this year's 10,000 metre drill program at Ayawilca,  saying they were "undoubtedly" the best adjacent  holes ever sunk at the deposit.

Tinka president and chief executive Dr Graham Carman, told investors: "This set of drill results continues to show significant thicknesses of high grade zinc mineralization at South Ayawilca, as we step out from the recent discovery holes.

"The zinc bodies dip gently to the south, with the thicker zones of mineralization lying between two interpreted west-dipping northeast-trending faults approximately 250 metres apart, appearing to thicken towards the north.

"These structures were likely important conduits for the zinc mineralization.

"The mineralization at South Ayawilca remains open along strike in both directions.

"At West Ayawilca, additional holes are required to fully test the extensions with more holes planned."

Drilling continues with three rigs...

Drilling continues with three rigs at South Ayawilca, focusing on expanding the new zinc discovery to the northeast towards the Central Ayawilca resource.

The firm is also looking forward to commencing drilling at Zone 3, Tinka said today.

Shares fell around 13% in Toronto to $0.65.

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Wed, 03 May 2017 10:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/177246/tinka-resources-extending-high-grade-zinc-at-ayawilca-project-in-peru-177246.html
<![CDATA[Media files - South Ayawilca drilling could reveal a 'world class discovery', says Tinka resources' Graham Carman ]]> https://www.proactiveinvestors.com.au/companies/stocktube/7229/south-ayawilca-drilling-could-reveal-a-world-class-discovery-says-tinka-resources-graham-carman-7229.html Tue, 04 Apr 2017 11:08:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/7229/south-ayawilca-drilling-could-reveal-a-world-class-discovery-says-tinka-resources-graham-carman-7229.html <![CDATA[News - Tinka Resources lauds Ayawilca finds amid zinc price rally ]]> https://www.proactiveinvestors.com.au/companies/news/175870/tinka-resources-lauds-ayawilca-finds-amid-zinc-price-rally-175870.html Tinka Resources Limited (CVE:TK) shares shot up on Monday as it reported highly positive drill results from the  first two holes of its 10,000 metre drill program at its flagship Ayawilca project in Peru.

The two holes were sunk at South Ayawilca - around 400 metres from the existing zinc mineral resource -  and beat the firm's expectations on the grade and thickness of zinc.

WATCH - South Ayawilca drilling could reveal a 'world class discovery', says Tinka resources' Graham Carman

Highlights included 51.9 metres at 10.1 % zinc and 62 grams per ton ( g/t) silver, and 14.9 metres at a very impressive 20.6 % zinc.

So what is the Ayawilca property?

Ayawilca is a 150 sq km huge area of land 200 km northeast of Lima in the Department of Pasco, Central Peru. It is 40 km northwest of the world-class Cerro de Pasco zinc-lead-silver mine, and 100 km south of the giant copper-zinc Antamina mine.  Tinka owns 100% of the concessions.

Starting to come together...

So it's all starting to  now come together for this junior as it advances its drill program here at this project against the backdrop of climbing zinc prices.

Clearly the firm is now looking at what they deem may be a significant discovery.

"The intercepts in these holes are between 60 and 100 metres apart , and we interpret two mineralized bodies gently dipping to the south, formed by replacement of the host sequence, and remaining open in all directions," said chief executive Dr Graham Carman.

He said the focus now was on determining the scale of the mineralization at South Ayawilca, part of this huge project, which lies 200 km northeast of the capital Lima.

The firm says the Ayawilca zinc zone already has an inferred mineral resource of 18.8 million tonnes at 8.2% zinc equivalent, which is open for expansion. There are also resource estimates for a zinc and tin zone.

Very soon the firm says it will have three drill rigs operating at South Ayawilcan and there are plans to mobilise a fourth later this month.

Zinc prices on the up...

And this all comes as zinc appears to be heading only one way this year. It's already up around 12% in the year to date, due to record refined output in China and tight supply after a number of mine closures.

The Canadian broker RBC Capital recently noted it believes zinc will advance to $1.35 a pound or $2,976 a tonne over the year and singled out the metal as one with the "best fundamentals".

Meanwhile, the Bloomberg Commodity Index, which tracks returns for 22 components, climbed 11% in 2016, entering a bull market in June – the first time the index has risen since 2010.

Zinc was last year's best performer, surging by 60% amid supply shortages and mine cutbacks.

With that kind of backdrop, it certainly puts Tinka in a good position going forward.

Think zinc

In August last year, Carman told Proactive that the fundaments for zinc were “absolutely fantastic”.

WATCH -  Zinc fundamentals ‘absolutely fantastic’ says Tinka Resources boss.

Certainly, the firm's share price moved up a gear in May 2016 from a range of C$0.10-0.15 to above C$0.20 in the second half of the year, where it remained.

But in 2017, shares have seen a huge kick, lifting to around $0.65 today from starting the year at around $0.20 mark.

Improved balance sheet

In late February, the firm revealed an improved balance sheet at the tail end of last year.

Total assets rose to C$33.9mln in the three months to December 31 from C$23.8mln in the three months to Sept 30.

Tinka ended 2016 with C$11.7mln cash compared to C$4.8mln in the same period in 2015.

In the same month this year, a milestone was reached in that the Ministry of Energy and Mines in Peru granted the company to the permit to drill at Ayawilca.

Meanwhile, last December, it discovered a new zinc prospect at Pucarumi, which lies several kilometres northwest of the  inferred zinc resource (18.8mln tonnes grading 8.2% zinc equivalent) and within its existing mining claims in central Peru.

High-grade mineralization grading up to 19% zinc and 8% lead occurs in two subparallel horizons at Pucarumi within Cretaceous-age limestones over a strike length of 1.5 kilometres, the firm said.

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Mon, 03 Apr 2017 10:32:00 +1000 https://www.proactiveinvestors.com.au/companies/news/175870/tinka-resources-lauds-ayawilca-finds-amid-zinc-price-rally-175870.html
<![CDATA[News - Tinka Resources hails zinc grade and thickness from first two holes at Ayawilca ]]> https://www.proactiveinvestors.com.au/companies/news/175856/tinka-resources-hails-zinc-grade-and-thickness-from-first-two-holes-at-ayawilca-175856.html Tinka Resources Ltd (CVE:TK) hailed results from the first two holes of this year's 10,000 metre drill program at Ayawilca in Peru, saying they are "undoubtedly" the best adjacent  holes ever sunk at the deposit.

A17-056 and A17-057 were drilled at South Ayawilca - around 400 metres from the existing zinc mineral resource -  and beat the firm's expectations on the grade and thickness of zinc.

WATCH: South Ayawilca discovery could be "world-class", says Tinka boss ... READ - Tinka Resources unveils "exciting" new zinc discovery at Ayawilca READ - Tinka all set for a zinc surge

Highlights from the first hole A17-056 included 51.9 metres at 10.1 % zinc, 62 grams per ton ( g/t) silver and 233 g/t indium from 242 metres depth.

That included an intercept of 14.9 metres at an impressive 20.6 % zinc, 152 g/t silver and 441 g/t indium from 279 metres depth.

These assays come from  surface to 127 metres and from 238 to 294 metres in depth. Results from 127-238 metres depth were reported earlier in March.

Meanwhile, the second hole (A17-057), drilled from the same platform, had highlights of 40.1 metres at 9.1 % zinc, 22 g/t silver and 168 g/t indium from 157.6 metres depth.

That included 15.3 metres at 20% zinc, 2.5 % lead, 102 g/t silver and 263 g/t indium from 264. metres depth.

These above results are from surface to 294 metres in depth.

Some logistical delays to drilling were caused by heavy summer rainfall but Tinka said a third rig will go to the site during the first week of April to accelerate the program.

Tinka chief executive Dr Graham Carman highlighted the credentials of these first two holes, which had exceeded expectations in terms of zinc.

"There are also significant silver and indium credits,” he said.

"The intercepts in these holes are between 60 and 100 metres apart , and we interpret two mineralized bodies gently dipping to the south, formed by replacement of the host sequence, and remaining open in all directions.

"Furthermore, mineralization can be correlated from hole to hole showing good continuity, and aiding our interpretation of this blind target.

"Hole A17-056 has semi-massive to massive sulphide replacement of the entire 150 metre thick carbonate sequence, indicating a very strongly mineralized system."

Carman said the focus now was on determining the scale of the mineralization at South Ayawilca.

"Rig 1 is currently drilling hole A17-059 to test the northwest extension of the discovery at South Ayawilca, while Rig 2 has recently commenced hole A17-060 to test the southeast extension.

"Very soon we will have three drill rigs operating at South Ayawilca.

"We plan to mobilise a fourth rig in late April to test the Zone 3 area located 2 kilometres east of where we are currently drilling," he added.

Tinka shares in Toronto raced up over 15% to $0.67.

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Mon, 03 Apr 2017 09:14:00 +1000 https://www.proactiveinvestors.com.au/companies/news/175856/tinka-resources-hails-zinc-grade-and-thickness-from-first-two-holes-at-ayawilca-175856.html
<![CDATA[News - Tinka Resources unveils "exciting" new zinc discovery at Ayawilca ]]> https://www.proactiveinvestors.com.au/companies/news/174316/ Tinka Resources Ltd (CVE:TK) has been boosted by results from the first hole in its 10,000-metre drill program at Ayawilca, Peru, which has shown a new zinc discovery.

Hole A17-56 lies around 400 metres south of the existing Zinc Zone Inferred mineral resource, and over 250 metres from any previous drill hole at Ayawilca.

The company's president and chief executive Dr Graham Carman said it was "exciting".

"This early success gives the Tinka team a great deal of confidence that our geological models and targeting methods are working. We are drilling a magnetic anomaly at South Ayawilca, and there are several other untested magnetic and zinc anomalies on the property that will be drilled in 2017."

He added: "This discovery at South Ayawilca is very significant. The drill hole contains some high zinc grades, and opens up a large new area to potentially grow our zinc resources, particularly of the higher grade 'chimney style' mineralization we have already identified at West Ayawilca.

"We look forward to completing A17-56 to determine the extent of the mineralization to depth. Upcoming holes will test if this mineralization links up with existing mineral resources at West and/or Central Ayawilca. Given this early success, we are immediately mobilizing a second drill rig to site."

Key highlights from the hole include 62.4 metres at a grade of 5.6 % zinc from a depth of 127.5 metres.

That included a length of 17.9 metres at 11.6% zinc from 127.5 metres.

These results only speak to a depth of 238 metres so far and the hole will continue to the base of the favourable limestone unit, with further high-grade zinc intersections expected.

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Mon, 06 Mar 2017 09:05:00 +1100 https://www.proactiveinvestors.com.au/companies/news/174316/
<![CDATA[News - Tinka Resources reports improved balance sheet ]]> https://www.proactiveinvestors.com.au/companies/news/173949/tinka-resources-reports-improved-balance-sheet-173949.html Tinka Resources Ltd. (CVE:TK) reported an improvement in its balance sheet as it recorded slimmed losses, raised assets and all important for a junior explorer, burgeoning cash.

Total assets rose to C$33.9mln in the three months to Dec 31 from C$23.8mln in the three months to Sept 30.

The comprehensive loss in the three months to Dec 31 fell to C$413,867 from C$453,804 in the same period in 2015.

Tinka ended 2016 with C$11.7mln cash versus C$4.8mln in the same period in 2015.

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Tue, 28 Feb 2017 15:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/173949/tinka-resources-reports-improved-balance-sheet-173949.html
<![CDATA[News - Tinka Resources lists in Mergent manual ]]> https://www.proactiveinvestors.com.au/companies/news/173484/tinka-resources-lists-in-mergent-manual-173484.html Tinka Resources Ltd. (CVE:TK) has been approved by Mergent's for a new listing in Mergent Manuals and News Reports, effective Tuesday.

The listing should help the trading of Tinka's securities in secondary markets in the United States while delivering maximum corporate visibility to the global securities and investment community.

The Mergent Manuals and News Reports are recognized securities manuals in 39 states for purposes of blue-sky manual exemptions.

However, it is recommended that brokers confirm with their compliance/legal department concerning blue-sky laws in specific states and other regulatory laws that might affect them.

Tinka shares were up 1.4% at C$0.36 on Tuesday.

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Tue, 21 Feb 2017 14:56:00 +1100 https://www.proactiveinvestors.com.au/companies/news/173484/tinka-resources-lists-in-mergent-manual-173484.html
<![CDATA[News - Tinka Resources shares gain after receives Ayawilca drilling permit ]]> https://www.proactiveinvestors.com.au/companies/news/173009/tinka-resources-shares-gain-after-receives-ayawilca-drilling-permit-173009.html The Ministry of Energy and Mines in Peru has granted to Tinka Resources Ltd. (CVE:TK) the permit to initiate drilling activities at Ayawilca. A drilling contractor is now mobilizing from Lima to site, with diamond drilling expected to commence on or about Feb. 15. Shares gained more than 4% on Friday.

The drill program will initially utilize one rig, with a second rig expected to mobilize in April. The focus of the drill program will be to expand the existing zinc zone mineralization within newly permitted areas along strike of existing mineral resources, as well as testing new zinc targets outlined by recent geophysical and geochemical programs.

"We are very pleased to commence our 2017 drill program at Ayawilca, which will focus on the discovery of additional high-grade zinc mineralization beyond the existing resource boundaries. I wish to thank our Peru staff and consultants, as well as our local stakeholders, for their tireless efforts in getting these permits finally approved. Going forward, Tinka has a minimum three-year window to advance the project under the conditions of the [environmental impact assessment]. Ayawilca is already a significant zinc resource, and we intend to advance the project as quickly and efficiently as possible through an aggressive step-out drill program throughout 2017,” said Dr. Graham Carman, Tinka's president and chief executive officer.

"Phase I of the drill program will target extensions of the highest grade and thickest parts of the existing zinc zone resource at West Ayawilca. Mineralization there remains open to the south and west. Phase II of the drill program will target the zone 3 and Chaucha areas, which are two of our highest-priority anomalies outside of the resource footprint. This second drilling phase is expected to commence in April, 2017, when at least one additional drill rig will be deployed at the project. We look forward to providing updates on drill results as the program progresses. We expect the drill program to continue until at least July, 2017."

Tinka shares were up 4.2% at C$0.38 on Friday.

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Fri, 10 Feb 2017 14:49:00 +1100 https://www.proactiveinvestors.com.au/companies/news/173009/tinka-resources-shares-gain-after-receives-ayawilca-drilling-permit-173009.html
<![CDATA[News - Tinka cuts expenses and controls losses ]]> https://www.proactiveinvestors.com.au/companies/news/172252/tinka-cuts-expenses-and-controls-losses-172252.html Tinka Resources (CVE:TK) kept a tight rein on its losses by cutting sharply its expenses bill, the company revealed with its full year earnings results.

The comprehensive loss for the year ended Sept 30 was C$1.71mln versus C$1.69mln a year earlier.

Expenses decreased by $484,659, from $1,965,194 during fiscal 2015 to $1,480,535 during fiscal 2016, the company said.

After a firm financial footing, the company’s outlook could turn even more favourable as it explores in the zinc sector.

READ: Tinka all set for a zinc surge ]]>
Thu, 26 Jan 2017 15:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/172252/tinka-cuts-expenses-and-controls-losses-172252.html
<![CDATA[News - What next for zinc after last year's price rally? ]]> https://www.proactiveinvestors.com.au/companies/news/171214/what-next-for-zinc-after-last-year-s-price-rally-171214.html It looks like it's going to be another good year for zinc. In recent weeks, the metal has touched an eight year high, trading at over US$2,800 per tonne.

It is now at around US$2,560 and was one of the top performing commodities in 2016 as the markets supply/demand balance has tightened dramatically.

The market was in deficit through the first 10-months of the year, and official data is expected to show the deficit continued through the year.

Refined zinc metal usage increased this year at the same time that supply cutbacks caused a drop in production.

Even with the zinc pricy rally in 2016, major zinc miners such as global titan Glencore plc (LON:GLEN) are expected to proceed cautiously with any attempt to ramp up mine production.

Other major players include New York listed Teck Resources (NYSE:TECK), which is the third-largest producer of mined zinc in the world.

Toronto listed players include Hudbay Minerals Inc (TSE:HBM) and Lundin Mining Inc (TSE:LUN).

While cutbacks in production have lowered the metal’s supply, an increase in demand has also been a contributing factor to the price rise.

In 2016, China’s increased infrastructure spending boosted demand for the metal used in galvanising steel.

Expectations are that China’s infrastructure spending will continue through the first-half of 2017.

Zinc uses

Zinc is currently the fourth most widely consumed metal in the world after iron, aluminum and copper.

It has strong anticorrosive properties and about one-half of the zinc that is produced is used in zinc galvanizing, which is the process of adding thin layers of zinc to iron or steel to prevent rusting.

Galvanised steel is used for car bodies, street lamp posts, safety barriers and suspension bridges.

The next leading use of zinc is as an alloy; the zinc is combined with copper (to form brass) and with other metals to form materials that are used in automobiles, electrical components, and household fixtures.

Canada-listed players

Tinka Resources Ltd (CVE:TK) is a junior explorer developing its 100%-owned Colquipucro and Ayawilca projects.

In November it reported its environmental impact assessment for the Ayawilca project had been approved.

Here at the Zinc Zone the NI 43 -101 inferred resources are estimated to total 18.8 million tonnes grading 8.2% zinc equivalent (ZnEq).

It has passed several milestones this year.  Last month, the firm discovered a new high-grade zinc prospect at Pucarumi located several kilometres northwest of the company's 100%-owned Ayawilca inferred zinc resource.

Rathdowney Resources Ltd (CVE:RTH) is developing the next generation of zinc deposits in the ore fields of Poland and Ireland.

The Olza project is host to lead and silver as well as zinc and the firm is aiming for a conventional underground operation exploiting 2.16mln tonnes per year.

Nevada Zinc Corp (CVE:NZN)  is another player in the sector. It continues to drill on it Lone Mountain Zinc Project in Nevada.

The  most recently completed Phase 4 drill program hit significant intervals of very near surface high grade zinc mineralization, including assays of up to 5.76% zinc over 41.15 metres.

Arizona Mining Inc (CVE:AZ) holds the Taylor Deposit, which is a zinc-lead-silver carbonate replacement deposit, which has a resource of 31.1 million tons in the indicated category, grading 10.9% zinc equivalent.

Callinex Mines Inc (CVE:CNX, OTCQX: CLLXF) says it has a portfolio of zinc-rich assets in Canada and near term exploration upside with ongoing work programs in Manitoba.

The Point Leamington project has 4.1 million tonnes of inferred resources grading 6.2% Zn Eq (zinc equivalent) containing 1.9 billion pounds of Zn Eq. It has two other projects in the zinc portfolio - Nash Creek and Superjack.

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Thu, 05 Jan 2017 08:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/171214/what-next-for-zinc-after-last-year-s-price-rally-171214.html
<![CDATA[News - Tinka all set for a zinc surge ]]> https://www.proactiveinvestors.com.au/companies/news/171149/tinka-all-set-for-a-zinc-surge-171149.html Zinc could result in the chink of cash for junior explorers like Tinka Resources Limited (CVE:TK) as the company's activities nicely chime with forecasts for a jump in the commodity’s prices in 2017.

To put the excitement into some kind of order, the Bloomberg Commodity Index, which tracks returns for 22 components, climbed 11% in 2016, entering a bull market in June – the first time the index has risen since 2010. Zinc was the year’s best performer, surging by 60% amid supply shortages and mine cutbacks.

With that kind of backdrop, it would be hard for Tinka to put a foot wrong as it waltzes to greater investor applause.

Think zinc

The chief executive of Tinka Resources, Graham Carman, himself agrees. In August he told Proactive Investors' StockTube that the fundaments for zinc are “absolutely fantastic”.

Watch Zinc fundamentals ‘absolutely fantastic’ says Tinka Resources boss

Certainly, the share price moved up a gear in May 2016 from a range of C$0.10-0.15 to above C$0.20 in the second half of the year.

It performed solidly in the second half, reaching mid-2015 highs, and zinc prices rising can only be good news for the stock.

Money managers boosted their combined net-long position, or bets on price gains, across 18 commodities by 9.7% in December, US government data showed, and that’s a reversal on a year earlier.

So, there is a lot to be optimistic about in the Zip-a-Dee-Doo-Dah outlook for zinc.

Tinka making progress at Pucarumi and Ayawilca

Tinka has also been active on the business front, with a series of milestones passed and more to come.

At a time when zinc supplies could be squeezed in 2017, it was therefore capital that Tinka’s most recent news was of a zinc find. Just last month, the company discovered a new high-grade zinc prospect at Pucarumi located several kilometres northwest of the company's 100%-owned Ayawilca inferred zinc resource.

Read Tinka samples up to 19% zinc, 7.9% lead at Pucarumi

Tinka also got the nod from the Peruvian government in November when it reported its environmental impact assessment for the Ayawilca project had been approved.

Read Tinka Resources receives approval for Ayawilca EIA

Perhaps one of the most prestigious events occurred the same month. Not many smaller capitalized stocks can boast an investor the size and significance of a supranational, but that feat landed in Tinka’s lap when the triple-A rated International Finance Corporation, a functionary of the World Bank group of supra investors, increased its stake in the business to 14%.

Read Tinka closes placement, supra investor increases stake

So, with continued strides in Peru and further gains in the price of zinc, Tinka Resources is all set to embrace the opportunities that 2017 may bring.

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Wed, 04 Jan 2017 04:49:00 +1100 https://www.proactiveinvestors.com.au/companies/news/171149/tinka-all-set-for-a-zinc-surge-171149.html
<![CDATA[News - Tinka samples up to 19% zinc, 7.9% lead at Pucarumi ]]> https://www.proactiveinvestors.com.au/companies/news/170819/tinka-samples-up-to-19-zinc-79-lead-at-pucarumi-170819.html Tinka Resources Ltd. (CVE:TK) has discovered a new zinc prospect at Pucarumi located several kilometres northwest of the company's 100%-owned Ayawilca inferred zinc resource (18.8mln tonnes grading 8.2% zinc equivalent) and within its existing mining claims in central Peru.

High-grade mineralization grading up to 19% zinc and 8% lead occurs in two subparallel horizons at Pucarumi within Cretaceous-age limestones over a strike length of 1.5 kilometres.

 

Key highlights: Prospecting by the company's geological team has discovered outcropping zinc mineralization at the Pucarumi prospect over a 1.5-kilometre strike length, located several kilometres from the Ayawilca zinc resource. Channel sampling has returned grades ranging from 0.2% to 19% zinc from 61 samples over an average width of 1.5 to two metres in mineralized Chulec formation limestone. Two subparallel mineralized horizons have been mapped and partially sampled to date, each horizon separated by approximately 50 metres. Samples were continuous channel samples from selected locations. Most samples also contained disseminated galena, with lead grades ranging from 0.01% to 7.9% lead. Systematic sampling of the mineralized horizons and regional soil sampling are continuing.

"The footprint of the Ayawilca zinc project continues to grow as we expand our exploration efforts within the district. We have now found zinc mineralization over 10 kilometres of strike along a discontinuous northwest-to-southeast trend, and identified at least 10 areas with significant zinc mineralization,” said Dr. Graham Carman, Tinka's president and chief executive officer.

He said the zinc mineralization at Pucarumi is hosted in Chulec formation limestone, and is much higher in the stratigraphic sequence than the Pucara formation, where zinc on the property has been identified to date. This proves for the first time that multiple limestone formations on the property are prospective. The zinc at Pucarumi is oxidized, but we would expect to encounter zinc sulphides at depth.”

"We are very much looking forward to commencing our 10,000-to-15,000-metre drill program early in 2017, focusing on immediate extensions of the zinc resource through step-out drilling initially in the South Ayawilca area, and with the testing of new target areas at South Ayawilca, Chaucha and Zone 3," he added.

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Wed, 21 Dec 2016 16:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170819/tinka-samples-up-to-19-zinc-79-lead-at-pucarumi-170819.html
<![CDATA[Media files - Tinka Resources: in synch and in zinc ]]> https://www.proactiveinvestors.com.au/companies/stocktube/6527/tinka-resources-in-synch-and-in-zinc-6527.html Fri, 02 Dec 2016 09:06:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/6527/tinka-resources-in-synch-and-in-zinc-6527.html <![CDATA[News - Tinka Resources receives approval for Ayawilca EIA ]]> https://www.proactiveinvestors.com.au/companies/news/169418/tinka-resources-receives-approval-for-ayawilca-eia-169418.html Tinka Resources Ltd. (CVE:TK) said on Wednesday its environmental impact assessment (EIA) for the Ayawilca project has been approved by the Peruvian government.

The Ministry of Energy and Mines accepted a modified EIA which will allow the company to drill from up to 79 drill platforms within the communities of San Juan de Yanacocha and Huarautambo.

An additional 85 drill platforms will shortly be permitted on adjacent land owned by the community of San Pedro de Pillao.

As reported the company has formalized access agreements with all three local communities for a period of up to four years. Read more.

"We are very pleased to have received the final approval of the Ayawilca EIA, which is a significant milestone for the company,” said Dr. Graham Carman, Tinka's president and chief executive officer.

“Tinka has now filed for the authorization to commence drilling activities with the Ministry of Energy and Mines, a final review process which is a standard procedure in Peru, expected to take several weeks. We have already identified a well-qualified drill contractor ready to commence drilling at the project in January, 2017."

Dr. Carman continued: "Following the recent $11-million financing, Tinka is now fully funded and well positioned to move our Ayawilca project rapidly forward through an aggressive drill program in 2017. The Ayawilca zinc resource remains open in most directions, and we look forward to testing the extensions of the resource mineralization as well as many exciting new zinc (and tin) targets within the Ayawilca district. We believe that Ayawilca has the potential to become a major new zinc district, and we look forward to the opportunity to finally test the property's full potential."

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Wed, 23 Nov 2016 10:28:00 +1100 https://www.proactiveinvestors.com.au/companies/news/169418/tinka-resources-receives-approval-for-ayawilca-eia-169418.html
<![CDATA[News - Tinka closes placement, supra investor increases stake ]]> https://www.proactiveinvestors.com.au/companies/news/169028/tinka-closes-placement-supra-investor-increases-stake-169028.html Tinka Resources Ltd. (CVE:TK) said on Tuesday it has has closed the second and final tranche of its private placement offering of common shares, which was upsized for gross proceeds of C$11mln. The company also revealed that the International Finance Corp., a member of the World Bank supra-national, increased its stake to 14%.

Under the second tranche, the company issued 10,326,750 shares at an issue price of 20 cents per share for gross proceeds of C$2,065,350. The first tranche of the offering closed on Nov. 7, for gross proceeds to the company of C$8,934,650.

Two insiders of the company participated in the second tranche in connection with the exercise of pre-existing participation rights.

International Finance Corp. (IFC), purchased 7.75 million shares at the issue price for gross proceeds of C$1.55-million. IFC now has control over an aggregate of 28,680,232 common shares of Tinka, or approximately 14% of the issued and outstanding common shares of Tinka, and 20.1% assuming the exercise of all of IFC's 15,697,674 warrants.

Sentient Global Resources Fund IV LP (Sentient IV), which also participated in the first tranche, purchased an additional 2,576,750 shares under the second tranche for gross proceeds of C$515,350, resulting in Sentient IV owning an aggregate of 45,867,893 common shares of the company following the closing of the second tranche, or approximately 22.4 per cent of the company's basic shares outstanding, and 24.9% assuming the exercise of all of Sentient IV's 6,976,744 warrants.

The company plans to use the net proceeds from the offering to finance exploration expenditures at the company's Ayawilca project in Peru, as well as for other corporate purposes and general working capital. No commissions or finders' fees were paid by Tinka in respect of the closing of the second tranche.

"We are pleased to close the second and final tranche of the offering, and wish to thank IFC and the Sentient Group for their continued support. We are looking forward to commencing our 10,000-to-15,000-metre drill campaign at the Ayawilca property within a matter of weeks,” said Dr. Graham Carman, president and chief executive officer of Tinka.

“This drill program will initially focus on drill testing the extensions of the high-grade zinc mineralization previously discovered at West and South Ayawilca, followed by the drill testing of new targets east and north of the existing resources at Zone 3 and Chaucha."

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Tue, 15 Nov 2016 16:32:00 +1100 https://www.proactiveinvestors.com.au/companies/news/169028/tinka-closes-placement-supra-investor-increases-stake-169028.html
<![CDATA[News - Tinka closes C$8.9mln first tranche of private placement ]]> https://www.proactiveinvestors.com.au/companies/news/168639/tinka-closes-c89mln-first-tranche-of-private-placement-168639.html Tinka Resources Ltd. (CVE:TK) on Monday closed the first tranche of a private placement, which was subsequently upsized with a second tranche, for gross proceeds of up to C$11mln.

Under the first tranche, the company issued 44,673,250 shares at an issue price of 20 cents per share for gross proceeds of C$8,934,650.

The second tranche of the offering for additional proceeds of up to $2,065,350 is expected to close on or about Nov. 15.

The company plans to use the net proceeds from the offering to finance exploration expenditures at the company's Ayawilca project in Peru, as well as for other corporate purposes and general working capital.

"We are pleased to close the first tranche of the private placement financing, having received strong interest from quality institutional investors such as lead investor JPMorgan Asset Management (U.K.) Ltd. I wish to also thank the Sentient Group for their continued support of the company, along with several other existing shareholders,” said Dr. Graham Carman, president and chief executive officer of Tinka.

"The funds raised will enable the company to execute its exploration objectives in the short to medium term, by drilling 10,000 to 15,000 metres in the upcoming drill campaign at the Ayawilca property in Peru. This drill program will focus on testing the extents of the high-grade zinc and tin deposits already discovered at the property, as well as drill testing high-priority targets lying in close proximity to our existing resources which have never before been drilled. We look forward to an exciting year ahead," he added.

As part of the first tranche, Sentient Global Resources Fund IV LP, an insider of the company, has exercised its pre-existing participation rights in respect of the offering. Pursuant to the first tranche, Sentient IV purchased 11,146,920 shares under the offering for gross proceeds of $2,229,384, resulting in Sentient IV owning an aggregate of 43,291,143 common shares of the company following the closing of the first tranche, or approximately 22.3% of the company's basic shares outstanding and approximately 21.8 per cent fully diluted. In addition, certain directors of the company participated in the offering and purchased an aggregate of 300,000 shares under the offering for aggregate gross proceeds to the company of $60,000.

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Mon, 07 Nov 2016 16:09:00 +1100 https://www.proactiveinvestors.com.au/companies/news/168639/tinka-closes-c89mln-first-tranche-of-private-placement-168639.html
<![CDATA[News - Tinka Resources arranges C$10mln placement ]]> https://www.proactiveinvestors.com.au/companies/news/167243/tinka-resources-arranges-c10mln-placement-167243.html Tinka Resources Ltd (CVE:TK) has arranged a proposed private placement to raise up to 50mln common shares for gross proceeds of up to C$10mln, the company said on Tuesday.

GMP Securities LP has agreed to act as agent for the placement, on a best-efforts agency basis.

All shares to be issued will be subject to a four-month hold period under applicable securities laws in Canada.

The company plans to use the net proceeds from the offering to finance exploration expenditures at the company's Ayawilca project in Peru, as well as for general working capital and corporate purposes.

Last week, the company said it was “very pleased” with the Ayawilca tests. Read more.

The offering is scheduled to close on or about Nov. 1.

The company has agreed to pay the agent a cash commission of 6% of the gross proceeds raised under the offering and issue broker warrants equal to 6% of the number of shares sold.

Each such broker warrant will entitle the agent to purchase one common share at the issue price for a period of 24 months following the closing of the offering. The agent will not be paid a commission or receive broker warrants in respect of any shares sold to certain investors and those purchasing under the company's president's list.

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Tue, 11 Oct 2016 14:56:00 +1100 https://www.proactiveinvestors.com.au/companies/news/167243/tinka-resources-arranges-c10mln-placement-167243.html
<![CDATA[News - Tinka "very pleased" with Ayawilca tests ]]> https://www.proactiveinvestors.com.au/companies/news/166916/tinka-very-pleased-with-ayawilca-tests-166916.html Tinka Resources Ltd (CVE:TK) has been heartened by analysis of initial metallurgical flotation tests of zinc sulphide samples from its Ayawilca project, Peru.

The test work proves the zinc sulphide mineralization from West Ayawilca is amenable to industry standard flotation processing, the company said.

Zinc (Zn) recoveries of 98% were produced in first pass, or rougher, flotation tests from two typical grade composites.

A zinc concentrate grade of 52% Zn was achieved in second pass, or cleaner, flotation.

Indium recoveries were similar to the zinc, Tinka revealed.

Shares shot up 14.3% to C$0.20 on the news.

"Initial bench scale metallurgical tests of Ayawilca zinc mineralization have produced excellent first pass zinc recoveries and a market-ready concentrate, important steps towards de-risking the project,” said Dr Graham Carman, president and chief executive officer of Tinka.

“The tests were carried out on typical-grade zinc mineralization from West Ayawilca. Importantly, indium follows the zinc into the zinc concentrate, where we believe it will be payable,” he continued, adding that the company was very pleased with the metallurgical tests.

The results pave the way for the junior exploration company to commence its 2016-2017 resource expansion/drill program with a high degree of confidence that Ayawilca is, in Dr Carman’s words, “one of the most significant zinc exploration-development projects not only in Peru but internationally."

Ayawilca is located in the highly mineralized zinc-lead-silver belt of central Peru, some 200 kilometres north of Lima and 40 kilometres from Peru's largest historic zinc mine at Cerro de Pasco.

Ayawilca has two separate inferred mineral resource zones of 18.8mln tonnes (Mt) at 8.2% zinc equivalent, and 5.4 Mt at 0.89% tin equivalent, both open for expansion.

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Tue, 04 Oct 2016 14:16:00 +1100 https://www.proactiveinvestors.com.au/companies/news/166916/tinka-very-pleased-with-ayawilca-tests-166916.html
<![CDATA[News - Tinka finalises access agreements at Ayawilca ]]> https://www.proactiveinvestors.com.au/companies/news/166627/tinka-finalises-access-agreements-at-ayawilca-166627.html Tinka Resources (CVE:TK) has signed a four-year access agreement with the third and final community that owns surface rights at the Ayawilca zinc-lead-silver prospect in Peru.

The San Pedro de Pillao community owns the surface rights surrounding the inferred mineral resource, and is where the Colquipucro silver oxide area is located.

“This third and last community agreement means that Tinka can access all of its highest priority targets for the next drill campaign,” said President and chief executive Graham Carman.

“Now, for the first time, Tinka has access to multiple highly prospective areas that have not been previously drill tested, including zinc-bearing gossans at Zone 3 and Chaucha."

Carman added that he expects drilling to begin with the next few weeks.

Earlier this month, Tinka told investors that it had signed agreements with the other two communities that owned the remaining surface rights.

Ayawilca is 100%-owned by Tinka, and has an inferred mineral resource of 18.8mln tonnes at 8.2% zinc equivalent.

In addition to zinc, recent work has also identified “significant silver and lead exploration potential”.

Shares closed on Tuesday at C$0.20.

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Wed, 28 Sep 2016 10:21:00 +1000 https://www.proactiveinvestors.com.au/companies/news/166627/tinka-finalises-access-agreements-at-ayawilca-166627.html
<![CDATA[News - Tinka signs final access deals for Ayawilca resource ]]> https://www.proactiveinvestors.com.au/companies/news/160045/tinka-signs-final-access-deals-for-ayawilca-resource-160045.html Tinka Resources Ltd. (CVE:TK) said on Tuesday it has signed final access agreements with the communities that own surface rights over the Ayawilca inferred mineral resource.

The site has 18.8mln tonnes grading 8.2% zinc equivalent.

The company’s 100%-owned Ayawilca property in central Peru is earmarked for 2016 to 2017 resource expansion drilling.

The agreements with the San Juan de Yanacocha and Huarautambo communities will allow the company to file for the final permit required by the Peruvian government to initiate drilling activities, and for the company to continue exploration up to the end of 2020.

"Reaching agreements with these two communities is a major milestone for Tinka and for the Ayawilca project,” said Dr. Graham Carman, Tinkas President and CEO.

“It is the culmination of many months of negotiations and hard work by our dedicated community relations team. By expanding the area and term of the Yanacocha agreement, and by signing the first agreement with the community of Huarautambo, Tinka will be in a position to initiate resource expansion drilling over our high priority zinc targets at West and South Ayawilca, once final Ministry permits are received. We expect those permits to be issued in the next few weeks, with drilling expected to commence by early November 2016,” he added.

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Tue, 06 Sep 2016 14:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/160045/tinka-signs-final-access-deals-for-ayawilca-resource-160045.html