Tinka Drills 6 Metres Grading 19% Zinc at Ayawilca, Expands TIN Zone
TINKA DRILLS 6 METRES GRADING 19% ZINC AT AYAWILCA, EXPANDS TIN ZONE
Vancouver, Canada – Tinka Resources Limited ( “Tinka” o r t h e “Company”) (T S X V & B V L : T K) (OTCQB: TKRFF) is
pleased to announce results for five holes in the Company’s ongoing 2022 drill program at the Ayawilca project in
Central Peru. Results reported are for three resource extensio n holes at South Ayawilca (A22‐192, 194 and 195), and
two exploration holes at Central Ayawilca (A22‐190 and 191). Results are pending for two holes (A22‐193 and 196) and
the eighth drill hole in the program, A22‐197, is in progress. Approximately 10 to 12 more drill holes are planned in
the zinc resource definition program.
Drill hole A22‐195 returned very hi gh‐grade zinc results (6 met res grading 18.8% zinc) within a repeated section of
favourable limestone, approximately 10 metres below the main co ntact with the basement phyllite. This high‐grade
zinc discovery is expected to extend the Zinc Zone indicated re source at South Ayawilca by around 60 metres to the
northeast, with mineralization remaining open in that direction. Previous holes in the vicinity may have been stopped
prematurely and did not test the lateral continuity of the repeated limestone in the basement.
In another positive development for the program, strong tin‐cop per mineralization was also intersected underneath
zinc mineralization in hole A22‐190 at Central Ayawilca (32 metres grading 0.36% tin, 0.33% copper and 13 g/t silver),
confirming the tenor of a previous drill hole intersection (48 metres grading 0.47% tin and 0.20% copper in hole A15‐
043). The tin‐copper mineralization (or “Tin Zone”) occurs as cassiterite and chalcopyrite in massive iron sulphide
replacement bodies hosted in limestone, and as vein‐style stock work mineralization in underlying phyllite. Tin Zone
mineralization at Central Ayawilca is interpreted to plunge northwards at a shallow angle and is open at depth.
Key highlights:
South Ayawilca Zinc Zone resource extensions
A22‐195: 6.0 metres at 18.8% zinc from 392.6 metres depth including 3 metres at 27.7% zinc from 395.9 m.
A22‐194: 26.8 metres at 4.2% zinc from 293.0 metres depth including 1.0 metre at 31.6% zinc from 310.1 m.
A22‐192: 16.7 metres at 3.2% zinc, 0.4% lead and 18 g/t silver from 312.3 metres depth.
Central Ayawilca zinc exploration
A22‐191: 36.8 metres at 3.6% zinc from 264.0 metres depth including 6.3 metres at 6.0% zinc from 264.0 m.
A22‐190: 17.9 metres at 3.1% zinc, 0.2% lead and 10g/t silver from 330.4 metres depth.
Tin Zone exploration:
A22‐190: 32.0 metres at 0.36% tin, 0.33% copper and 13 g/t silver from 398 metres depth, including 9.4 metres
at 0.52% tin, 0.28% copper and 11 g/t silver from 412.7 m.
The mineralization in the above holes is associated with sulphide bodies interpreted to be gently‐dipping. True
thicknesses of the mineralized intercepts are estimated to be at least 80% of the downhole thicknesses.
Dr. Graham Carman, Tinka’s President and CEO, stated: “The zinc grades intercepted in drill hole A22‐195 are
exceptional, backing up our belief that the Zinc Zone at South Ayawilca remains open along strike to the northeast.
Drilling for the rest of 2022 will target additional high‐grade zinc mineralization and an increase in the Measured and
Indicated zinc resources at South and West Ayawilca. A second drill rig, which we expect to mobilize within the next
few days, will speed up the drilling and enable the Company to drill simultaneously at both South and West Ayawilca.”
October 11, 2022
T: 604.685.9316 [email protected]
TSXV & BVL: TK OTCQB: TKRFF NEWS RELEASE
“While the Tin Zone was not incorporated into the 2021 Preliminary Economic Assessment for the Ayawilca project, the
tin‐copper‐silver mineralization has the potential to add significant value to the project if it can be shown to be
economic. An inferred mineral resource of 8.4 Mt at 1.0% tin was estimated for the Ayawilca Tin Zone in August 2021.
An important next step for the Tin Zone mineralization will be the results of key metallurgical test work being completed
at a specialist laboratory in Australia, which will be available in Q4 2022”, Dr. Carman concluded.
Discussion of 2022 drill program results
The main objectives of the 2022 drill program at Ayawilca are t o target additional high‐grade zinc mineralization and
to expand the measured and indicated zinc mineral resources. In dicated resources are currently estimated at 19.0 Mt
grading 7.2% Zn, 17 g/t Ag & 0.2% Pb and inferred resources are 47.9 Mt @ 5.4% Zn, 20 g/t Ag & 0.4% Pb (dated August
30th, 2021). Figure 1 highlights the location of the 2022 drill holes at the Ayawilca project.
T h r e e h o l e s w e r e d r i l l e d t o t e s t t h e p o t e n t i a l e x p a n s i o n o f z i nc mineralization at South Ayawilca to the east and
northeast. Hole A22‐192 is believed to have intersected the so uthern edge of the high‐grade zinc mineralization at
South, while A22‐194 and A22‐195 both intersected zones of high‐grade zinc. Hole A22‐195 intersected 6 metres
grading 18.8% zinc within a repeated limestone, the favoured li thology for sulphide replacement, approximately 10
metres below the main contact with the basement phyllite. The upper contact with the repeated limestone is
interpreted as a low angle thrust, and the possibility exists f or more extensive limestone beneath the main phyllite
contact. Previous drill holes nearby may have been stopped too soon, without testing the lateral continuity of the
repeated limestone in drill hole A22‐195 (see Figure 2 – longitudinal section).
Holes A22‐190 and A22‐191 were drilled at Central Ayawilca to test for the lateral extensions of a previous zinc
intercept (19 metres grading 9.0% zinc in hole A12‐08) and to c onfirm the extent of the tin mineralization at depth.
Both holes intersected moderate grade zinc mineralization, while the strong tin grades in hole A22‐190 confirmed good
continuity with previous drill holes (see Figure 3 – cross section).
Table 1. Summary of drill hole geochemical results for 2022 drill program
Hole From (m) To (m) Interval (m) Zn % Pb % Ag g/t In ppm Sn % Cu %
A22‐190 298.30 306.70 8.40 3.0 0.40 6 14
and 330.40 348.25 17.85 3.1 0.23 10 20
and 361.50 450.00 88.50 7 0.22 0.21
incl 3 6 3 . 0 0 371.35 8.35 2 0.45 0.07
incl 3 9 8 . 0 0 4 3 0 . 0 0 32.0 0 13 0.36 0.33
incl 412.65 422.0 0 9.35 11 0.52 0.28
A22‐191 115.30 115.70 0.40 5.5 2.53 212 5
and 264.00 300.80 36.80 3.6 0.02 3 58
incl 264.00 270.30 6.30 6.0 0.07 5 13
incl 298.00 300.80 2.80 8.0 0.00 6 314
A22‐192 312.30 329.00 16.70 3.2 0.44 18 17
incl 324.00 324.90 0.90 8.5 0.04 14 101
A22‐194 196.15 197.35 1.20 33.9 0.03 29 145
and 293.00 319.80 26.80 4.2 0.02 8 131
incl 310.10 311.05 0.95 31.6 0.01 21 381
A22‐195 392.60 398.60 6.00 18.8 0.01 8 91
incl 395.85 398.60 2.75 27.7 0.01 10 130
Notes on sampling and assaying
Drill holes are diamond HQ 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 was
bagged on average over 1 to 2 metre composite intervals and sent to ALS and SGS laboratories in Lima for assay in batches. Standards and blanks
were inserted by Tinka into each batch prior to departure from the core storage facilities. At the laboratory samples are dried, crushed to 100%
passing 2mm, then 500 grams pulverized for multi‐element analysis by ICPMS using multi‐acid digestion. Samples assaying over 1% zinc, lead, or
copper and over 100 g/t silver were re‐assayed using precise ore‐grade AAS techniques. Samples within massive sulphide zones were also assayed
for tin using XRF techniques.
Figure 1. Drill hole map highlighting 2022 drill hole locations and Zinc Zone indicated resources
Figure 2. Southwest‐Northeast longitudinal section through Sout h Ayawilca with new holes and selected past drill
hole intersections (looking north)
Figure 3. North‐South cross section through South and Central Ayawilca (looking west)
Table 2. Drill hole details for 2022 drill program
Drill hole Easting Northing Elevation Azimuth Dip Depth m Area Comment
A22‐190 333281 8845755 4167 180 ‐50 498.95 Central Results HERE
A22‐191 333169 8845799 4182 180 ‐55 478.80 Central Results HERE
A22‐192 333345 8845195 4208 232 ‐74 385.90 South Results HERE
A22‐193 332766 8845659 4237 068 ‐65 365.40 West Results pending
A22‐194 333143 8845231 4226 135 ‐73 380.20 South Results HERE
A22‐195 333149 8845353 4221 148 ‐65 426.90 South Results HERE
A22‐196 333035 8845307 4235 174 ‐45 382.10 South Results pendin g
A22‐197 332912 8845693 4220 264 ‐55 400.00 West Drilling in pro gress
Total 3318.25
Notes: Datum for coordinates: WGS84 18S. Azimuth is true azimuth
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.
On behalf of the Board,
“Graham Carman”
Dr. Graham Carman, President & CEO
Further Information:
www.tinkaresources.com
Mariana Bermudez 1.604.685.9316
About Tinka Resources Limited
Tinka is an exploration and development company with its flagship property being the 100%‐owned Ayawilca zinc‐
silver‐tin project in central Pe ru. The Zinc Zone deposit has a n estimated Indicated Mineral Resource of 19.0 Mt @
7.15% Zn, 16.8 g/t Ag & 0.2% Pb and Inferred Mineral Resource o f 47.9 Mt @ 5.4% Zn, 20.0 g/t Ag & 0.4% Pb (dated
August 30, 2021 ‐ see news release ). The Ayawilca Tin Zone has an estimated Inferred Mineral Res ource of 8.4 Mt
grading 1.0% Sn. Tinka holds 46,000 hectares of mining claims in Central Peru, one of the largest holders of mining
claims in the belt. Tinka is actively exploring for copper‐gold skarn mineral deposits at its 100%‐owned Silvia project.
Forward Looking Statements: Certain information in this news re lease contains forward‐looking statements and forward‐looking
information within the meaning o f applicable securities laws (c ollectively "forward‐looking sta tements"). All statements, oth er
than statements of historical fact are forward‐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, uncertainties and assumptions related to certain factors including, without limitations: timing of planned
work programs and results varying from expectations; delay in obtaining results; 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 initiatives; competition and operating performance;
environmental and safety risks; the Company’s expectations regarding the Ayawilca Project PEA; the political environment in which
the Company operates continuing to support the development and operation of mining projects; risks related to negative publicity
w i t h r e s p e ct t o t h e C o m p a n y o r t h e m i n i n g i n d u s t r y i n g e n e r a l ; t h e t h r e a t a s s o ci a t e d w i t h o u t b r e a k s o f v i r u s e s a n d i n f e ct i o u s
diseases, including the novel CO VID‐19 virus; delays in obtaini ng or failure to obtain necessary permits and approvals from lo cal
authorities; community agreements and relations; and, other dev elopment and operating risks. Should any one or more of these
risks or uncertainties materialize, or should any underlying as sumptions prove incorrect, actual results may vary materially f rom
those described herein. Although Tinka believes that assumptio ns inherent in the forward‐looking statements are reasonable,
forward‐looking statements are not guarantees of future perform ance and accordingly undue reliance should not be put on such
statements due to the inherent uncertainty therein. Except as m ay be required by applicable secur ities laws, Tinka disclaims a ny
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.