Tinka Drills 7.2 Metres Grading 22.7% Zinc and 5.7 Metres Grading 14.9% 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 August 1, 2018
TINKA DRILLS 7.2 METRES GRADING 22.7% ZINC AND 5.7 METRES GRADING
14.9% ZINC AT AYAWILCA
Vancouver, Canada – Tinka Resources Limited ( “Tinka” or the “ Company”) ( TSXV & BVL: TK )
(OTCPK: TKRFF ) is pleased to announce assay results for eight step-out drill holes from the West,
Central, Camp and East Ayawilca areas in the Company’s ongoing resource drill progra m at the Ayawilca
project, Peru. In addition, one infill hole at South Ayawilca is reported.
Key highlights include:
Two high-grade zinc intersections at the newly named Camp area (holes A18-130 & 134) in the
‘gap’ between West and Central Ayawilca include 5.7 metres grad ing 14.9% zinc. This intercept
occurs within a repeated limestone unit underneath phyllite;
At West Ayawilca, two follow-up holes to hole A18-129 (10.4 met res at 44.0% zinc, see press
release dated June 26, 2018 ) have also intersected high-grade zinc mineralization beneath the
known zinc resource. Zinc-rich veins hosted by phyllite in hol e A18-132 (incl uding *6.9 metres
grading 20% zinc) are believed to be feeder structures which have tapped the source for the zinc
mineralization and provide further potential for additional mineralization at depth;
A positive infill hole at South Ayawilca (A18-133) confirms high-grade zinc replacement
mineralization hosted by limestone and sandstone. This hole has improved the geological model in
that area.
Drill Highlights
West Ayawilca
Hole A18-132:
6.8 metres at 12.5% zinc, 28 g/t silver & 57 g/t indium from 120.0 metres depth; and
10.5 metres at 14.0% zinc, 15 g/t silver & 207 g/t indium from 259.6 metres depth; and
*6.9 metres at 20.0% zinc, 0.4% lead, 60 g/t silver & 477 g/t indium from 320.0 metres depth.
Hole A18-135:
12.1 metres at 7.1% zinc, 6 g/t silver & 88 g/t indium from 274.9 metres depth, including
1.8 metres at 15.6% zinc, 14 g/t silver & 367 g/t indium from 285.2 metres depth; and
*0.6 metres at 24.8% zinc, 131 g/t silver & 153 g/t indium from 422.3 metres depth.
Camp
Hole A18-130:
34.0 metres at 6.1% zinc, 4 g/t silver & 129 g/t indium from 294.0 metres depth, including
7.7 metres at 10.3% zinc, 4 g/t silver & 215 g/t indium from 300.3 metres depth;
Hole A18-134:
2.0 metres at 10.1% zinc, 4 g/t silver & 47 g/t indium from 242.0 metres depth; and
5.7 metres at 14.9% zinc, 13 g/t silver & 206 g/t indium from 346.4 metres depth.
South Ayawilca
Hole A18-133 (infill hole):
7.2 metres at 22.7% zinc, 28 g/t silver & 612 g/t indium from 140.0 metres depth; and
27.0 metres at 6.0% zinc, 0.2% lead, 11 g/t silver & 47 g/t indium from 187.0 metres depth; and
38.5 metres at 5.6% zinc, 0.1% lead, 12 g/t silver & 138 g/t indium from 248.8 metres depth.
Note: All intercepts shown above are down-hole intercepts. Tru e thicknesses of the zinc intersections are estimated to
be at least 85% of the downhole thicknesses, except for vein in tercepts (marked). For vein intercepts marked * true
thicknesses are undetermined.
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Dr. Graham Carman, Tinka´s President and CEO, stated: “Tinka continues to expand the footprint of the zinc
mineralization at Ayawilca with its 2018 step-out drill program. The new high-grade zinc intersections in
the Camp area, where we carried out very limited drilling in the past, should allow us to connect the plus
200 metre gap between mineral resources at West and Central Ayawilca (refer to Figure 2). Of particular
interest is that high grade zinc mi neralization in this area was encount ered within a repeated limestone
under a phyllite ‘ledge’, a setting similar to that found in hole A18-129 which intersected exceptional +40%
zinc grades. The repeated and mineralized limestone occurs in multiple locations at the project including at
the Camp and West Ayawilca (refer to Figure 3). It is possible this deeper mineralization is more
widespread than is currently recognized, as holes at the project in the past were typically stopped almost
immediately on hitting phyllite.”
“The main focus for our exploration in coming weeks is to test the repetition for mineralized limestones at
West and Central Ayawilca and to test for extensions to the mineralization along strike at South and Central
Ayawilca. It appears that number of previous holes at West and Central Ayawilca were not drilled
sufficiently deep enough to test for these possible repetitions. Tinka is studying which are the priority holes
to deepen for later in the 2018 drill program.”
“At West Ayawilca, high-grade zinc intercepts beneath the existing resource in holes A18-132 and 135 are
interpreted as feeder veins for the high-grade replacement style mineraliz ation intersected recently in hole
A18-129 (refer to Figure 4). Results for several additional follow-up holes are pending.”
“Several infill holes are underway to further improve the geological model of the deposit and to target
mineralization underneath the existing resources. The first infill hole drilled at South Ayawilca (A18-133)
was positive, intersecting high-grade mineralization st arting at a relatively sha llow depth of 140 metres
within the sandstones.”
“Three drill rigs continue to operate at the project 24/7 (currently drilling holes A18-143, 144 & 145). So
far in 2018 approximately 15,000 metres have been drilled, with a minimum of 5,000 additional metres
planned for this year.”
Figure 1 is a geological map of the project with inset of recent drill area.
Figure 2 is a drill hole location map showing the recent holes at West, South, Camp and Vetas areas.
Figure 3 is a schematic cross section through West and South Ayawilca.
Figure 4 is a schematic cross section through West Ayawilca highlighting 2018 drill holes.
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Figure 1. Geological Map of Ayawilca with current footprint of mineral resources
Summary of Ayawilca Inferred Zinc Zone Mineral Resources (Nov’ 8, 2017)
South Ayawilca: 13.3 million tonnes at 9.5 % ZnEq (7.6 % zin c, 0.2 % lead, 25 g/t silver & 118 g/t indium);
West Ayawilca: 9.0 million tonnes at 7.2 % ZnEq (6.1 % zin c, 0.2 % lead, 14 g/t silver & 64 g/t indium);
Central Ayawilca: 13.0 million tonnes at 5.7 % ZnEq (4.7 % zin c, 0.3 % lead, 13 g/t silver & 54 g/t indium);
East Ayawilca: 7.5 million tonnes at 6.2 % ZnEq (5.1 % zinc , 0.2 % lead, 13 g/t silver & 69 g/t indium);
TOTAL: 42.7 million tonnes at 7.3 % ZnEq (6.0 % zinc, 0.2 % l ead, 17 g/t silver & 79 g/t indium).
Notes:
1 US$55/t NSR cut off was used. Metal price assumptions were US$1 .15/lb Zn, US$300/kg In, US$18/oz Ag, US$1.10/lb Pb. Metal rec overy
assumptions were 90% Zn, 75% In, 60% Ag, and 75% Pb for the ZnEq calculation.
2 The NSR value was calculated using the formula: NSR = Zn(%)*US$15.34+Pb(%)*US$6.15+In(g/t)*US$0.18+Ag(g/t)*US$0.27
3 The ZnEq value was calculated using the formula: ZnEq = NSR/US$15.34
4 Numbers may not add due to rounding
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Figure 2. West & South Ayawilca drill hole map highlighting 2018 holes & current zinc resources
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Figure 3. Cross section of West and South Ayawilca A-A’ viewing to the northeast, highlighting the
2018 step-out drill holes which extend the West Ayawilca footprint significantly
Figure 4. Schematic cross section of West Ayawilca C-C’ viewing to the west, highlighting 2018 drill
holes and interpreted low-angle faults which have ‘thrusted’ faulted blocks on top of each other
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Significant new drill intercepts are summarized in Table 1 with the strongest intercepts in bold text. Table 2
summarizes the drill collar information for the recent holes.
Table 1. Recent significant drill intercepts at Ayawilca
Drill hole From m To m Interval
m Zn % Pb % Ag g/t Indium g/t Area
Comment
A18-123 238.50 239.50 1.00 5.6 7.8 152 0 East Step-out
and 451.30 452.20 0.90 5.3 0.0 4 64
A18-124 212.00 214.00 2.00 3.0 4.0 118 4 Central Step-out
and 266.00 268.00 2.00 4.3 0.0 6 4
A18-125 results awaited Zone 3 Step-out
A18-128 330.60 332.40 1.80 3.9 0.2 7 17 Central Step-out
A18-130 232.40 238.30 5.90 5.3 0.1 19 55 Camp Step-out
and 275.60 277.50 1.90 10.8 0.0 8 203
and 294.00 328.00 34.00 6.1 0.0 4 129
including 300.30 308.00 7.70 10.3 0.0 4 215
A18-131 results awaited Vetas New target
A18-132 120.00 126.80 6.80 12.5 0.0 28 57 West Step-out
and 259.60 270.10 10.50 14.0 0.0 15 207
and 320.00 326.90 *6.90 20.0 0.4 60 477
and 331.80 332.20 *0.40 11.8 0.6 30 291
A18-133 140.00 147.20 7.20 22.7 0.0 28 612 South Infill
and 187.00 214.00 27.00 6.0 0.2 11 47
including 202.00 203.20 1.20 21.0 4.3 96 415
and 248.80 287.30 38.50 5.6 0.1 12 138
including 248.80 250.70 1.90 22.9 0.1 35 1100
including 256.40 257.80 1.40 24.1 0.0 21 571
and 506.20 506.50 0.30 27.9 0.6 405 314
A18-134 242.00 244.00 2.00 10.1 0.0 4 47 Camp Step-out
and 346.40 352.10 5.70 14.9 0.0 13 206
A18-135 250.40 250.90 0.50 13.0 0.1 4 4 West Step-out
and 274.90 287.00 12.10 7.1 0.0 6 88
including 285.20 287.00 1.80 15.6 0.0 14 367
and 422.30 422.90 *0.60 24.8 0.1 131 273
A18-136 316.00 320.00 4.00 5.8 0.0 3 153 Camp Step-out
Note: All intercepts shown in Table 1 are down-hole intercepts. True thicknesses of the zinc intersections
are estimated to be at least 85% of the downhole thickness, exc ept where marked. For vein intercepts
marked * true thicknesses are undetermined.
Table 2. Summary of Drill Collar Information (coordinates are in UTM Zone 18S WGS84 datum)
Drill Hole Easting Northing Total depth (m) Elevation (m) Azimu th Dip
A18-123 333720 8846291 499.6 4170 035 -75
A18-124 333105 8845865 380.3 4202 190 -60
A18-128 333127 8845869 348.7 4198 000 -85
A18-130 332930 8845517 378.7 4226 220 -85
A18-132 332710 8845881 442.4 4258 200 -80
A18-133 333046 8845065 654.8 4195 000 -90
A18-134 332964 8845459 435.4 4231 000 -90
A18-135 332763 8845919 432.5 4250 200 -80
A18-136 332879 8845525 419.7 4235 000 -90
Qualified Person – Mineral Resources: The Mineral Resources disclosed in this press release have bee n estimated by Mr. David
Ross, P.Geo., an employee of Ros coe Postle Associates Inc. (RPA ), and is independent of Tinka. By virtue of his education and
relevant experience, Mr. Ross is a "Qualified Person" for the p urpose of National Instrument 43-101. The Mineral Resources hav e
been classified in accordance w ith CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014). An
independent National Instrument 43-101 Technical Report (the “ NI 43-101 Technical Report ”) on the Mineral Resource Estimate
for the Ayawilca Property, Department of Pasco, Peru has been filed under the Company’s profile on SEDAR at www.sedar.com and
is available on the Company’s website at www.tinkaresources.com
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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
Investor Information:
www.tinkaresources.com
Rob Bruggeman 1.416.884.3556
Company Contact:
Mariana Bermudez, 1.604.699.0202
Notes on sampling and assaying
Drill holes are diamond HQ or NQ size core holes with recoverie s 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 facil-
ity, with half-cores stored as a future reference. Half-core i s bagged on average over 1 to 2 metre composite intervals
and sent to SGS laboratories in Lima for assay in batches. Sta ndards and blanks are inserted into each batch prior to
departure from Tinka’s core storage facilities. At the laboratory samples are dried, crushed to 100% passing 2mm, then
500 grams pulverized for multi-element analysis by ICP using mu lti-acid digestion. Samples assaying over 1% zinc,
lead, or copper and over 100 g/t silver are re-assayed using pr ecise ore-grade AAS techniques. Samples assaying over
200 ppm tin are re-assayed by fusion methods with an AAS finish (method AAS90B).
About Tinka Resources Limited
Tinka is an exploration and development company with its flagsh ip property being the 100%-owned Ayawilca
carbonate replacement deposit (CRD) in the zinc-lead-silver belt of central Peru, 200 kilometres northeast of Lima. The
Ayawilca Zinc Zone Inferred Mineral Resource estimate now consists of 42.7 Mt at 6.0 % zinc, 0.2 % lead, 17 g/t silver
& 79 g/t indium, and a Tin Zone Inferred Mineral Resource of 10 .5 Mt at 0.63 % tin, 0.23 % copper & 12 g/t silver
(Nov. 8, 2017, release). Drilling for resource extensions and the testing of new targets is ongoing.
Forward Looking Statements: Certain information in this news release contains forward-look ing statements and forward-looking
information within the meaning of Certain information in this news release contains forward-looking 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 ongoing drill program, the Company’s expectations regarding mineral resource calculations ,
capital 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 availa bility and costs of financing needed in the future, equipment f ailure,
unexpected geological conditions, imprecision in resource estim ates or metal recoveries, succe ss of future development initiat ives,
competition, operating performance, environmental and safety ri sks, delays in obtaining or failure to obtain necessary permits and
approvals from local authorities, community agreements and relations, and other development and operating risks. Should any one or
more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may var y
materially from those described herein. Although Tinka believe s that assumptions inherent in the forward-looking statements a re
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 therein. Except as may be required by applicable securities laws, Tinka discla ims 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