Tinka Drills 5.7 Metres at 32.6% Zinc at Ayawilca
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 September 5, 2019
TINKA DRILLS 5.7 METRES AT 32.6% ZINC AT AYAWILCA
Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “ Company”) (TSXV & BVL: TK )
(OTCPK: TKRFF ) i s pl e a s e d t o an no un ce a s s a y re s u l t s f or t wo r ec e nt hol e s d r illed at the Company’s
100%-owned Ayawilca Property in central Peru. Drilling is conti nuing with one rig ope rating at the South
Ayawilca area, with the focus on expanding and upgrading the hi gh-grade ‘Zinc Zone’ mineralization as
defined in the Company’s recent Preliminary Economic Assessment (PEA).
Hole A19-163 intercepted two intervals of high grade zinc mineralization close to the margin of the current
inferred resource. The hole intersected one of the highest grade intervals ever drilled at South Ayawilca. In
addition, a new style of silver-r ich mineralization with dissem inated zinc - lead was intersected deeper in
hole A19-163 within a down-faulted limestone more than 100 metr es beneath the current resource, with
mineralization remaining open to the west and at depth. The foo tprint of the mineralization at Ayawilca
continues to expand, and still offers exciting exploration upside.
Key Highlights from hole A19-163:
Zinc Zone:
34.7 metres grading 6.7% zinc, 11 g/t silver and 86 g/t indium from 171.0 metres, including
o 5.7 metres grading 9.7% zinc, 12 g/t silver and 147 g/t indium from 199.1 metres; and
5.7 metres grading 32.6% zinc, 20 g/t silver and 89 g/t indium from 228.0 metres; and
Lower Silver Zone:
13.9 metres grading 1.0% zinc, 0.6% lead and 128 g/t silver from 397.7 metres, including
o 0.6 metres grading 5.4% zinc, 3.5% lead and 818 g/t silver from 397.7 metres depth.
Note: True thicknesses of the Zi nc Zone intersections are estim ated to be at least 85% of the downhole
thicknesses. The true thickness of the Lower Silver Zone inters ection cannot be determined at this time as
insufficient data is available.
Recent drilling has significantly advanced the geological model and understanding of the geometry of the
high grade zinc mineralization at the western end of South Ayaw ilca. The second hole reported here, A19-
164, was drilled up-dip from hole A19-163 at a shallower angle (50 degree dip) to test for extensions of the
existing zinc mineral resource but did not encounter mineraliza tion. A19-164 is interpr eted to have drilled
into the roof zone of a hinge of an anticline fold, the core of which hosts very high grade mineralization in
multiple lenses or ‘mantos’, including those intercepted in A19-163.
Dr. Graham Carman, Tinka’s President and CEO, stated: “The ongoing drill program at South Ayawilca is
focused on the expansion and upgrading of high-grade resources in the Zinc Zone. We are excited that new
drill holes like A19-163 continue to intersect exceptional zinc gr ades. The recently completed PEA shows
that the project economics is sensitive to zinc grade, so expansions or upgrading of these higher grade zinc
resources will have a positive impact on the project economics in future studies.”
“With the discovery of the Lower Sil ver Zone in hole A19-164, we have proven that mineralization exists
within a deeper limestone at South Ayawilca, 100 to 150 metres beneath the existing resource, open to the
west and at depth. The Lower Silver Zone so far consists of disseminated sulphides hosted in strongly altered
limestone where the original rock has been almost completely replaced by iron - manganese carbonates, a
style of mineralization and alteration that had previously been encountered only in vein form around the
edges of the massive sulphide mineralization. Furt her drilling is planned for the Lower Silver Zone,
including the deepening of a 2017 drill hole (A19-167 ) which is currently in progress. Holes A19-165 and
166 were recently completed and assays are pending.”
2
Figure 1. Conceptual West-East Cross Section A-A’ Highlighting Results of A19-163 (in yellow)
Note: Hole A19-165 is projected onto the cross section
Discussion –Geological Model Updated
This release presents results for two new holes from South Ayaw ilca (A19-163 and A19-164). Hole A19-
163 intersected two high grade intervals of zinc mineralization on the edge of the existing mineral resource
between 170 and 240 metres depth (see Figure 1). The zinc intercepts in this hole consist of reddish-coloured
massive sphalerite (see Figure 2), a style of zinc mineralization with relatively low iron.
The Lower Silver Zone mineralization in hole A19-163 is hosted by recrystallized and altered limestone at
approximately 400 metres depth, separated from the Zinc Zone resource by a reverse fault (the Colquipucro
Fault system – see Figures 1 & 3). The fault displacement is believed to be post-mineral, so the downthrown
western fault block could host extensions of the high-grade zin c mineralization as we ll as the silver-rich
mineralization. Hole A19-164 did not intersect significant min eralization up-dip from A19-163, and is
interpreted to have remained in the barren roof zone of a tightly folded anticline structure (Figure 1).
The 2019 drilling has highlighted several complexities in the s tructure of the Ayawilc a deposit, which is
assisting us greatly in understanding the controls and distribution of the high grade mineralization. A shallow
east-dipping contact between phyllite and limestone is interpreted to be an early low-angle thrust fault which
pre-dates mineralization. The thrust fault was important in the preparation of the host rocks (brecciation) and
likely occurred at the same time as the anticline folding. These low angle structures acted as feeders for the
zinc mineralization and the anticline fold acted as a structural trap. Some of the highest grades encountered
at Ayawilca are found within the limestone core of the anticline.
The mineralization is interpreted to be displaced by the post-m ineral Colquipucro Fault, with a possible
offset of at least 100-150 metres vertically, with additional unknown lateral displacement. The Lower Silver
Zone mineralization occurs within this downthrown block, and remains open and untested to the west.
3
Table 1 – Summary of new drill holes assays from Ayawilca
Hole From (m) To (m) Interval (m) Zn % Pb % Ag ppm In ppm
A19-163 118.80 120.05 1.25 25.58 0.01 33 243
and 171.00 205.70 34.70 6.68 0.10 11 86
incl 199.10 204.80 5.70 9.71 0.01 12 147
and 228.00 233.70 5.70 32.64 0.02 20 89
and 397.70 411.60 13.90 1.04 0.64 128 2
incl 397.70 398.30 0.60 5.43 3.45 818 1
A19-164 no significant results
Note: True thicknesses of the zinc intersections in Table 1 are estimated to be at least 85% of the downhole
thicknesses as the zinc mineralization at Ayawilca is generally flat-dipping replacement of layers or ‘mantos’
hosted by limestone and/or sandstone. The true thickness of the silver intersection cannot be determined at
this time as insufficient data is available.
Figure 2. Drill core of high grade interval (228-233.7 m) grading 32.6% zinc, 0.02% lead, 20 g/t silver.
Sphalerite is noted by the reddish colour
4
Figure 3. Map of Ayawilca showing 2019 drill holes and Zinc Mineral Resources
Table 2 – 2019 Drill Collar Information (coordinates are in UTM Zone 18S WGS84 datum)
Hole ID Easting Northing Elevation Azimuth Dip Depth m
A19-163 333047 8845065 4197 260 -65 496.6
A19-164 333047 8845065 4197 260 -50 257.8
A19-165 333047 8845065 4197 280 -62 463.5
Notes on sampling and assaying
Drill holes are diamond HQ or NQ size core holes with recoveries generally above 80% and often close to 100%. The
drill core is marked up, logged, and photographed on site. The cores are cut in half at the Company’s core storage
facility, with half-cores stored as a future reference. Half-core is bagged on average over 1 to 2 metre composite inter-
vals and sent to ALS laboratories in Lima for assay in batches. Standards and blanks are inserted into each batch prior
to departure from Tinka’s core storage facilities. At the labor atory samples are dried, crushed to 100% passing 2mm,
then 500 grams pulverized for multi-element analysis by ICP usi ng multi-acid digestion. Samples assaying over 1%
zinc, lead, or copper and over 100 g/t silver are re-assayed using precise ore-grade AAS techniques.
5
Qualified Person
Dr. Graham Carman, Tinka’s President and CEO, reviewed, verified and compiled the technical contents of
this release. Dr Carman is a Fellow of the Australasian Institute of Mining and Metallurgy, and is a qualified
person as defined by National Instrument 43-101.
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) located in the zin c-lead-silver belt of central Peru, 200
kilometres northeast of Lima. The Ayawilca Zinc Zone contains 1 1.7 Mt of Indicated Resources grading
6.9% zinc, 0.2% lead, 15 g/t silv er 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 Z one contains an Inferred Mineral Resource
of 14.5 Mt at 0.63% tin, 0.21% copper & 18 g/t silver (November 26, 2018 release). The Colquipucro silver
oxide deposit contains 2.9 Mt of Indicated Resources grading 11 2 g/t silver (for 10.4 Moz Ag) and 2.2 Mt
Inferred Resources grading 105 g/t silver (for 7.5 Moz Ag) in h igh grade lenses within a preliminary open
pit shell using a $46/t NSR cut off (November 26, 2018 release) . A Preliminary Economic Assessment for
the Ayawilca Zinc Zone was released on July 2, 2019 (see 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
Forward Looking Statements: Certain information in this news release contains forward-looking statements and forward-looking
information within the meaning o f applicable securities laws (c ollectively "forward-looking statements"). All statements, other
than statements of historical fac t are forward-looking statemen ts. 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, 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, equipment 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 results may vary materially from those described herein. Although Tinka
believes that assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees
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