Tinka Drills 8 Metres Grading 31% Zinc & 225 Grams PER Tonne Silver at Ayawilca
TINKA DRILLS 8 METRES GRADING 31% ZINC & 225 GRAMS PER TONNE SILVER AT AYAWILCA
Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “Company”) (TSXV & BVL: TK) (OTCPK: TKRFF) is pleased
to announce assay results for seven drill holes from the ongoing resource expansion and infill drill program at the
Ayawilca project in Peru. Hole A20‐177 intersected very high grade vein‐style zinc‐silver‐lead mineralization outside
of the zinc resource at about 100 metres depth. Three holes (A20‐178, 177 & 175) also successfully intersected high
grade manto‐style zinc mineralization at the Camp area. Hole A20‐179 was an infill hole at the West area which
intersected two wide zones of mineralization with better than expected zinc grades. The other three holes intersected
extensions of zinc‐rich mineralization at the South area (holes A20‐176, 174, 172). Tinka has now completed 6,500
metres of the planned 7,500 metres in the resource drilling program. Sixteen holes have been completed with two in
progress (A21‐185 & 186) and at least two more are planned before the end of the program. Results are now reported
for half of the drill holes in the current program.
Drill Highlights:
Camp area:
Hole A20‐177
*19.2 metres @ 15.6% zinc. 1.5% lead & 154 g/t silver from 101.1 metres depth, including
o *1.9 metres @ 24.9% zinc, 7.7% lead & 604 g/t silver from 101.1 metres depth; and
o *7.8 metres @ 31.3% zinc, 1.7% lead & 225 g/t silver from 112.5 metres depth; and
34.0 metres @ 7.4% zinc & 8 g/t silver from 290.0 metres depth, including
o 16.6 metres @ 9.5% zinc & 10 g/t silver from 298.3 metres depth;
Hole A20‐178
42.1 metres @ 6.3% zinc & 14 g/t silver from 281.9 metres depth, including
o 20.4 metres @ 9.8% zinc & 15 g/t silver from 289.5 metres depth, including
o 7.9 metres @ 16.7% zinc & 27 g/t silver from 302.0 metres depth.
Hole A20‐175
*1.2 metres @ 43.6% zinc & 212 g/t silver from 136.5 metres depth; and
16.4 metres @ 4.4% zinc & 7 g/t silver from 235.7 metres depth.
West Area:
Hole A20‐179
31.9 metres @ 6.0% zinc & 15 g/t silver from 224.1 metres depth, including
o 11.8 metres @ 8.4% zinc & 32 g/t silver from 242.0 metres depth; and
34.6 metres @ 7.0% zinc & 6 g/t silver from 270.0 metres depth, including
o 12.2 metres @ 9.4% zinc & 5 g/t silver from 276.0 metres depth.
South Area:
Hole A20‐176
11.2 metres @ 5.3% zinc & 27 g/t silver from 336.2 metres depth.
Hole A20‐174
1.2 metres @ 10.3% zinc & 4 g/t silver from 318.6 metres depth.
Hole A20‐172
*0.9 metres @ 5.9% zinc, 5.3% lead & 733 g/t silver from 178.7 metres depth; and
7.2 metres @ 5.1% zinc & 15 g/t silver from 277.2 metres depth.
Mineralization is mostly associated with gently‐dipping sulphide “mantos” hosted in limestones. True thicknesses of
the mantos are estimated to be at least 90% of the downhole thicknesses. The intervals marked * are vein‐style
hosted by sandstones and have an unknown true thickness. Refer to map and cross sections in Figures 1 and 2.
January 28, 2021
T: 604.685.9316 [email protected]
TSXV & BVL: TK OTCPK: TKRFF
NEWS RELEASE
President and CEO of Tinka, Dr. Graham Carman, stated: “The 2020‐21 Ayawilca drill program continues to deliver high‐
grade zinc mineralization with significant silver credits. We are particularly excited about the very high‐grade zinc‐silver
vein intersection in hole A20‐177, one of the best grade intersections we have ever had at Ayawilca and especially
attractive as it occurs at shallow depth. The vein‐style mineralization was intersected at a low‐angle to the drill core
axis so the true width of the vein is currently unknown. The thick vein is hosted in the quartz sandstone member of the
Goyllar Formation which was not previously considered as a favourable host rock. The shallow nature of the
mineralization (about 100 m depth) opens up the possibility for high‐grade zinc‐silver‐lead resources much closer to
surface than previously thought. We plan to follow up this vein with more drilling before the end of the current program
to better define its geometry and extent.”
“Drill holes at the Camp area have also discovered strong manto‐style zinc mineralization outside of the current resource
hosted within the limestones. Drilling is continuing currently at the South area with two rigs operating. We expect the
program to be completed in February, after which time the data will be compiled for a resource and PEA update. We
continue to believe that Ayawilca is perfectly positioned to take advantage of the current positive market sentiment
towards base metals, and we look forward with anticipation to the results for the final half of the drill program.”
About Ayawilca: The Ayawilca Zinc Zone contains an estimated 1.8 billion 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 contains an estimated 14.3 million ounces silver in the
Indicated category and 13.2 million ounces silver in the Inferred category (see 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
Figure 1. Plan showing progress of the 2020‐2021 drill program
Figure 2. Cross sections of South (A‐A’), Camp (B‐B’) and West (C‐C’) areas, looking northwest
Table 1 – Summary of the latest results from the 2020‐2021 drill program at Ayawilca
Drill Hole
From
(m) To (m) Interval
(m) Zn % Pb % Ag ppm In ppm
A20‐172 178.70 179.60 0.90 5.86 5.25 733 15
and 277.20 284.40 7.20 5.12 0.05 15 39
A20‐174 318.60 319.70 *1.10 10.30 <0.01 4 165
A20‐175 57.25 57.70 *0.45 19.25 0.10 22 55
and 136.50 137.70 *1.20 43.59 0.47 212 745
and 235.70 252.10 16.40 4.35 0.02 7 15
and 301.80 304.50 2.70 8.17 <0.01 10 838
A20‐176 336.15 347.30 11.15 5.32 0.13 27 83
A20‐177 101.10 120.25 *19.15 15.55 1.47 154 257
incl 101.10 103.00 *1.90 24.90 7.71 604 271
incl 112.50 120.25 *7.75 31.31 1.72 225 566
and 290.00 353.60 63.60 5.69 0.10 12 134
incl 290.00 324.00 34.00 7.36 0.10 8 75
incl 298.30 314.90 16.60 9.47 0.07 10 102
A20‐178 281.90 324.00 42.10 6.31 0.06 14 66
incl 289.50 309.90 20.40 9.79 0.05 15 97
incl 302.00 309.90 7.90 16.70 0.08 27 231
A20‐179 195.20 201.40 *6.20 4.11 0.08 7 <1
and 224.10 256.00 31.90 6.03 0.38 15 19
incl 242.00 253.80 11.80 8.41 0.90 32 37
and 270.00 304.60 34.60 6.98 0.04 6 25
incl 276.00 288.20 12.20 9.39 0.01 5 39
Notes to Table 1: * denotes vein style mineralization which has unknown true thickness. All other intersections are
manto style and true thicknesses are estimated to be at least 90% of downhole thicknesses.
Table 2 – Drill Collar Information for latest holes (coordinates are in UTM Zone 18S WGS84 datum)
Drill hole Easting Northing RL m Azimuth Dip Total Depth
A20‐172 333,243 8,845,118 4223 325 ‐ 82 332.3
A20‐174 333,143 8,845,234 4227 0 ‐ 90 395.9
A20‐175 332,880 8,845,526 4230 256 ‐ 82 339.7
A20‐176 333,259 8,845,234 4227 255 ‐ 75 368.6
A20‐177 332,874 8,845,482 4236 200 ‐ 88 383.0
A20‐178 332,924 8,845,448 4233 0 ‐ 90 371.7
A20‐179 332,660 8,845,883 4256 0 ‐ 90 320.0
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 intervals and sent to ALS laboratories in
Lima for assay in batches. Standards and blanks are 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 ICP using 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.
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 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).
Forward Looking Statements: Certain information in this news release 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 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
drill programs and results varying from expectations; delay in obtaining results; expectations regarding the Ayawilca Project PEA;
the potential impact of epidemics, pandemics or other public health crises, including the current coronavirus pandemic 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 initiatives; competition
and operating performance; environmental and safety risks; 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
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 therein. Except 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