Tinka Announces Filing of Ni 43-101 Technical Report ON the Ayawilca Property, PERU
TINKA RESOURCES LIMITED
#1305 – 1090 WEST GEORGIA STREET
VANCOUVER, B.C. V6E 3V7
Tel: (604) 685 9316 Fax (604) 683 1585
Website: www.tinkaresources.com
TSXV & BVL: TK OTCPK: TKRFF
NEWS RELEASE January 9, 2019
TINKA ANNOUNCES FILING OF NI 43-101 TECHNICAL REPORT ON THE AYAWILCA
PROPERTY, PERU
Vancouver, Canada – Tinka Resources Limited ( “Tinka” or the “ Company”) ( TSXV & BVL: TK )
(OTCPK: TKRFF ) Vancouver, Canada announces that the Company has filed an updated independent
National Instrument 43-101 Technical Report (the “ NI 43-101 Technical Report”) on the Mineral Resource
Estimate for the Ayawilca Proper ty, Department of Pasco, Peru, in support of the Company’s news release
dated November 26, 2018 ( t h e “News Release ”). There are no material differences in the NI 43-101
Technical Report from the information disclosed in the News Release.
Part of the Zinc Zone Mineral Resource is now classified as Ind icated, incorporating a higher-grade portion
of the deposit. In addition, the updated Inferred Mineral Resou r c e i s o f a s i m i l a r s i z e a n d g r a d e t o t h e
previous Zinc Zone resource reported in November 2017. The upd ated Tin Zone Inferred Mineral Resource
is also substantially larger. Thi s resources update follows a v ery successful drilling program, with the
Company completing approximately 20,000 metres during 2018.
Key Highlights of Updated Mineral Resources at Ayawilca
Indicated Zinc Zone Mineral Resource of 11.7 million tonnes grading 6.9% zinc, 0.16% lead,
84 g/t indium and 15 g/t silver (8.1% zinc equivalent "ZnEq"), containing:
o 1.8 billion pounds of zinc;
o 983 tonnes of indium;
o 5.8 million ounces of silver; and
o 42 million pounds of lead.
Inferred Zinc Zone Mineral Resource of 45.0 million tonnes grading 5.6% zinc, 0.23% lead, 67
g/t indium and 17 g/t silver (6.7% ZnEq), containing:
o 5.6 billion pounds of zinc;
o 3,003 tonnes of indium;
o 25.2 million ounces of silver; and
o 230 million pounds of lead.
Inferred Tin Mineral Resource of 14.5 million tonnes grading 0.63% tin, 0.21% copper, and 18
g/t silver (0.70% tin equivalent "SnEq"), containing:
o 201 million pounds of tin;
o 67 million pounds of copper; and
o 8 million ounces of silver.
The Tin Zone and Zinc Zone resources do not overlap. The Miner al Resources have an effective date of
November 26, 2018 and are reported above an NSR cut-off value o f US$55/tonne, as estimated by Roscoe
Postle Associates Inc. (“RPA”) of Toronto, Canada. Other key assumptions, parameters, and methods are:
CIM definitions were followed for Mineral Resources.
Prior to compositing to two metre lengths, high Sn, In, and Ag values were cut to 4%, 350 g/t to 550
g/t, and 100 g/t to 170 g/t depending on area, respectively. Block model grades within the wireframe
models were interpolated by inverse distance cubed.
The NSR value was based on estimated metallurgical recoveries, assumed metal prices and smelter
terms, which include payable factors, treatment charges, penalties, and refining charges.
Density was estimated to be between 3.5 t/m3 and 3.7 t/m3 for the Zinc Zones and 3.9 t/m3 for the
Tin Zone
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The drill hole spacing within the area assigned as Indicated category commonly ranges from 40 m to
70 m
For the Zinc Zone
o Metal price assumptions were: US$1.15/lb Zn, US$300/kg In, US$15/oz Ag, and
US$1.00/lb Pb. Metal recovery assumptions were: 90% Zn, 75% In, 60% Ag, and 75% Pb.
The NSR value for each block was calculated using the following NSR factors: US$15.34
per % Zn, US$4.70 per % Pb, US$0.18 per gram In, and US$0.22 per gram Ag.
o The NSR value was calculated using the following formula:
NSR = Zn(%)*US$15.34+Pb(%)*US$4.70+In(g/t)*US$0.18+Ag(g/t)*US$0.22
o The ZnEq value was calculated using the following formula:
ZnEq = NSR/US$15.34
For the Tin Zone:
o Metal price assumptions were: US$9.00/lb Sn, US$2.85/lb Cu, and US$15/oz Ag. Metal
recovery assumptions were: 86% Sn, 75% Cu, and 60% Ag. The NSR value for each block
was calculated using the following NSR factors: US$155.21 per % Sn, US$37.59 per % Cu,
and US$0.22 per gram Ag.
o For the Tin Zone, the NSR value was calculated using the following formula:
o US$NSR = Sn(%)*US$155.21+Cu(%)*US$37.59+Ag(g/t)*US$0.22
o The SnEq value was calculated using the following formula:
o SnEq = NSR/US$155.21
There are no known legal, politi cal, environmental or other ris ks that could materially affect the potential
development of the Mineral Resources.
The Updated Mineral Resources disclosed in this press release h ave been estimated by Ms. Dorota El Rassi,
P.Eng., and Mr. David Ross, P.Geo., both employees of RPA and i ndependent of Tinka. By virtue of their
education and relevant experience, Ms. El Rassi and Mr. David R oss are “Qualified Persons" for the purpose
of National Instrument 43-101. The Mineral Resources have been classified in accordance with CIM
Definition Standards for Mineral Resources and Mineral Reserves (May, 2014). Both Ms. El Rassi, P.Eng.
and Mr. David Ross, P.Geo. have read and approved the contents of this news release as it pertains to the
disclosed Mineral Resource estimates.
The NI 43-101 Technical Report may be found under the Company’s profile on SEDAR at www.sedar.com
and on the Company’s website at www.tinkaresources.com.
As announced by the Company on November 28, 2018 , the Company’s Preliminary Economic Assessment
(“PEA”) on th e Ayawilca Zinc and Tin Pro ject in Peru , is well underway. Wood (formerly Amec Foster
Wheeler) in Lima, Peru, has been engaged as lead consultant to prepare the PEA.
About Tinka Resources Limited
Tinka is an exploration and development company with its flagsh ip property being the 100%-owned
Ayawilca carbonate replacement de posit (CRD) in the zinc-lead-s ilver belt of central Peru, 200 kilometres
northeast of Lima. The Ayawilca Zinc Zone contains 11.7 Mt of I ndicated Resources grading 6.9% zinc,
0.2% lead, 15 g/t silver and 84 g/t indium and 45.0 Mt Inferred Resources grading 5.6% zinc, 0.2% lead, 17
g/t silver and 67 g/t indium. The Ayawilca Tin Zone contains a n Inferred Mineral Resource of 14.5 Mt at
0.63% tin, 0.21% copper & 18 g/t silver (November 26, 2018 release). A maiden PEA is underway, with
results anticipated in the first half of 2019. The Qualified Person, Dr. Graham Carman, Tinka’s President
and CEO, and a Fellow of the Australasian Institute of Mining a nd Metallurgy, has reviewed and verified the
technical contents of this release.
On behalf of the Board,
“Graham Carman”
Dr. Graham Carman, President & CEO
Investor Information:
www.tinkaresources.com
Rob Bruggeman 1.416.884.3556
Company Contact:
Mariana Bermudez, 1.604.699.0202
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Forward Looking Statements: Certain information in this news release contains forward-look ing statements and forward-looking
information within the meaning of applicable securities laws (c ollectively " forward-looking statements "). All statements, other
t h a n s t a t e m e n t s o f h i s t o r i c a l f a c t a r e f o r w a r d - l o o k i n g s t a t e m e nts. Forward-looking statements are based on the beliefs and
expectations of Tinka as well as assumptions made by and inform ation currently available to Tinka's management. Such statemen ts
reflect the current risks, uncertainties and assumptions relate d to certain factors including, without limitations, drilling r esults, the
Company’s expectations regarding the Ayawilca Project PEA, capi tal and other costs varying significantly from estimates,
production rates varying from estimates, changes in world metal markets, changes in equity markets, uncertainties relating to the
availability and costs of financing needed in the future, equip ment failure, unexpected geological conditions, imprecision in resource
estimates or metal recoveries, success of future development in itiatives, competition, operating performance, environmental an d
safety risks, delays in obtaining or failure to obtain necessar y permits and approvals from local authorities, community agree ments
and relations, and other development and operating risks. Shoul d any one or more of these risks or uncertainties materialize, or
should any underlying assumptions prove incorrect, actual resul ts may vary materially from those described herein. Although T inka
believes that assumptions inherent in the forward-looking state ments are reasonable, forward-looking statements are not guaran tees
of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty ther ein.
Except as may be required by applicable securities laws, Tinka disclaims any intent or obligation to update any forward-lookin g
statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this news release