Tinka Commences Drilling at the Ayawilca Zinc-Silver Project
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 October 8, 2020
TINKA COMMENCES DRILLING AT THE AYAWILCA ZINC-SILVER PROJECT
Vancouver, Canada – Tinka Resources Limited ( “Tinka” or the “ Company”) ( TSXV & BVL: TK )
(OTCPK: TKRFF) is pleased to announce that the Company has commenced a 7,000 metre drill program at
the Company’s 100% owned Ayawilca zinc-silver project in central Peru. The 20-hole program is anticipated to
take approximately three months to complete. The timing of the completion of the drill program may vary as a
result of the Company’s health and safety measures implemented to prevent the spread of COVID-19.
The drill program has two objectives: firstly, to convert inferred resources to indicated resources in areas at the
project with thick, high grade zones of mineralization; and, se condly, to test for extensions of zinc and silver
mineralization down-dip of known zones in several planned step-out holes. Later in the program, step-out holes
will also be drilled to test new exploration targets at the Colqui Silver Zone.
Two drill rigs are on site and will test the extensions of the high-grade mineralization within the Ayawilca Zinc
Zone (West and South areas – Figure 1). A third rig is expecte d to be added to the program by the end of
October. Hole A20-169 is designed to test a zone within the inf erred resource which is 50 to 75 metres down-
dip of hole A18-118 which intersected 23.9 metres grading 9.2% zinc & 15 g/t silver from 270 metres and 9.8
metres grading 17.0% zinc & 25 g/t silver from 334 metres. Hol e A20-170 is testing an area 70 metres from
A17-071 which intersected 12.6 metres grading 11.6% zinc & 35 g/t silver from 332 metres depth.
President and CEO of Tinka, Dr. Graham Carman, stated: “It is exactly 12 months since Tinka was last drilling
at Ayawilca, and our team is very excited to be back drillin g again after what has pro ven to be a challenging
year due to the severe impact of the pandemic in Peru. This will be a busy time for the Company, as we aim to
increase our mineral resource inventory especially in the indicated resource category as well as test new targets.
We are targeting two styles of mineralization; zinc-rich massive sulphide mineralization typical of the Ayawilca
Zinc Zone, and silver-rich mineralization which occurs in carbonate veins and replacements on the margins of
the sulphide deposit. We expect to release the drill resu lts as soon as they become available and can be
interpreted within the context of our geological model. Tinka has put in place enhanced health protocols to
keep our employees, contractors and community workers as safe as possible.”
About Ayawilca: The Ayawilca Zinc Zone (sulphide) contains an estimated 1.8 b illion pounds zinc and 5.8
million ounces silver in the Indicated category, and 5.6 billion pounds zinc and 25.2 million ounces silver in the
Inferred category ( see news release dated November 26, 2018 ). The Colqui Silver Zone (oxide) contains an
estimated 14.3 million ounces silver in the Indicated category and 13.2 million ounces silver in the Inferred
category, with mineralization starting from surface (see link to Technical Report dated July 2, 2019).
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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Figure 1. Progressive 2020 drill hole map
About Tinka Resources Limited
Tinka is an exploration and devel opment company with its flagship property being the 100%-owned Ayawilca
zinc-silver project in central Peru. The Ayawilca Zinc Zone has an estimated Indicated resource of 11.7 Mt
grading 6.9% zinc, 15 g/t silver & 0.2% lead and an Inferred resource of 45.0 Mt grading 5.6% zinc, 17 g/t silver
& 0.2% lead (dated November 26, 2018). The Colqui Silver Zone (oxide) has an estimated Indicated resource
of 7.4 Mt grading 60 g/t silver, and an Inferred resource of 8. 5 Mt grading 48 g/t silver occurring from surface
(dated May 25, 2016). A Preliminary Economic Assessment for the Zinc Zone was released on July 2, 2019 (see
release). The Qualified Person, Dr. Graham Carman, Tinka’s President a nd CEO, and a Fellow of the
Australasian Institute of Mining and Metallurgy, has reviewed and verified the technical contents of this release.
Forward Looking Statements: Certain information in this news re lease contains forward-looking statements and forward-
looking information within the meaning of applicable securities laws (collectively "forward-looking statements"). All
statements, other than statements of historical fact are forwar d-looking statements. Forward-looking statements are based
on the beliefs and expectations of Tinka as well as assumptions made by and information currently available to Tinka's
management. Such statements reflect the current risks, uncerta inties and assumptions related to certain factors including,
without limitations: timing of planned drill programs and resul ts varying from expectations; delay in obtaining results;
expectations regarding the Ayaw ilca Project PEA; the potential impact of epidemics, pandemics or other public health
crises, including the current outbreak of the novel coronavirus known as COVID-19 on the Company’s business, operations
and financial condition; changes in world metal markets; changes in equity markets; uncertainties relating to the availability
and costs of financing needed in the future; equipment failure, unexpected geological conditions; imprecision in resource
estimates or metal recoveries; success of future development in itiatives; competition and operating performance;
environmental and safety risks; delays in obtaining or failure t o o b t a i n n e c e s s a r y p e r m i t s a n d a p p r o v a l s f r o m l o c a l
authorities; community agreements and relations; and, other dev elopment and operating risks. Should any one or more of
these risks or uncertainties mate rialize, or should any underly ing assumptions prove incorrect, actual results may vary
materially from those described herein. Although Tinka believe s that assumptions inherent in the forward-looking
statements are reasonable, forwar d-looking statements are not g uarantees of future performance and accordingly undue
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reliance should not be put on such statements due to the inhere nt uncertainty therein. Ex cept as may be required by
applicable securities laws, Tinka disclaims any intent or obligation to update any forward-looking 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