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10.4 metres grading 44% zinc 'not a typo' confirms Tinka Resources chief executive

Tinka Resources Ltd (CVE:TK) chief executive Dr Graham Carman speaks to Proactive Investors about the latest stellar drilling results to emerge from the company's flagship Ayawilca zinc project in Peru.

Out of seven holes just announced, the highlight was 10.4 metres grading 44.0% zinc within a zone consisting of more than 90% zinc sulphides. "It even surprised the geologists out on the field," says Carman.

Carman explains, "we put out a resource update late last year, and basically since then we've been drilling busily away trying to grow the resource... the current resource sits at 42 million tonnes at 7% zinc equivalent, which is already a significant resource." The latest results lift the grade of the project, and have also revealed previously unknown depths to the favourable geology.

"We're planning to do a PEA in the final quarter of this year, but prior to that we need to do a resource upgrade, and whilst we're getting these spectacular drill holes it may be that we push out the timing slightly because we think that's a good problem to have... We've got the three rigs turning, they're all doing step-out drill holes, we expect to be drilling to at least mid-August at which time we'll make a call... we believe that Ayawilca will be developed sometime in the next three to five years" says Carman.

Quick facts: Tinka Resources Limited

Price: 0.205 CAD

Market: TSX-V
Market Cap: $69.85 m

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South Ayawilca drilling could reveal a 'world class discovery', says Tinka...

Dr Graham Carman, chief executive of Tinka Resources Ltd (CVE:TK) talks Proactive Investors' Andrew Scott through their the first two holes of this year's 10,000 metre drill program at Ayawilca in Peru. A17-056 and A17-057 were drilled at South Ayawilca - around 400 metres from the...

on 5/4/17

2 min read