Jun 28 2016
Tinka Resources Limited ("Tinka" or the "Company") is pleased to provide an update of its exploration activities at the Company's 100%-owned Ayawilca project in central Peru. A helicopter-borne magnetic geophysical survey has now commenced, to cover the full 150 km2 of contiguous mineral claims owned by Tinka, with the purpose of identifying new areas prospective for base metal mineralization. Mineral claims and known prospect areas to be covered by the current airborne survey are shown in Figure 1.
Key highlights:
- Helicopter magnetic survey to cover full area of Tinka's mineral claims at Ayawilca, covering an area of approximately 15 kilometres by 10 kilometres;
- Line-spacing of 200 metres will provide a high-quality magnetic geophysical dataset for the first time;
- Magnetic survey to take approximately 1 week to complete, with interpreted results available later in July.
Dr. Graham Carman, Tinka's President and CEO, stated: "For some time, Tinka geologists have realized that the zinc, tin, and silver mineral resources discovered to date at Ayawilca are part of a mineralized district, which continues to grow as drilling advances. The zones of base metal mineralization so far discovered are, in part, associated with magnetic anomalies that have no surface expression. The magnetic anomalies lie beneath a 'cap' of unmineralized sandstone, a rock formation which outcrops extensively throughout the property. We believe the airborne magnetic survey will help identify new prospective areas for base metals beneath the sandstone, as well as put our existing mineral resources into a regional context, and provide Tinka with a powerful exploration tool."
In other news, Tinka continues its preparation for further resource extension drilling later in 2016. This drill program requires the completion of certain permitting procedures, which are well advanced. The Company anticipates the drill permits to be granted during Q3 2016. Resource step-out drilling, and the testing of high-priority new target areas identified by surface sampling and ground geophysics (including South Ayawilca, Zone 3, and Chaucha), can commence once the permits are fully granted.
The qualified person, Dr. Graham Carman, Tinka's President and CEO, and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the technical contents of this release.
To view the map associated with this news release, please visit: http://www.marketwire.com/library/20160627-fig1.jpg.
Source: https://www.tinkaresources.com/