Tinka Provides Update ON Upcoming Drill Program at 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 September 9, 2020
TINKA PROVIDES UPDATE ON UPCOMING DRILL PROGRAM AT AYAWILCA ZINC-
SILVER PROJECT
Vancouver, Canada – Tinka Resources Limited ( “Tinka” or the “ Company”) ( TSXV & BVL: TK )
(OTCPK: TKRFF) is pleased to provide an update on exploration activities at its 100%-owned Ayawilca zinc-
silver project in Peru. Preparations are underway for a ~7,000 metre drill program consisting of approximately
20 diamond drill holes. Three drill rigs are expected to mobil ize to site and commence drilling by the end of
September 2020. The program will target areas where earlier dri lling identified high grade zinc and silver
mineralization, often outside of the known resources. Most of these zones lie adjacent to the Colquipucro Fault,
an important north-northwest trending regional structure (Figures 1 and 2). It is anticipated that the drill program
will be completed in early 2021, subject to potential delays as a result of the COVID-19 pandemic. A framework
of stringent health and safety measures has been implemented, w hich includes protocols to prevent the spread
of COVID-19, and, as a result, the timing of the start and completion of the drill program may vary.
The 2020 drill program will focus on a combination of resource step-out drilling in areas where mineralization
remains open to increase resources, and infill drilling to upgrade the category of the Ayawilca resources in areas
of high grade mineralization. Priority targets include:
West Ayawilca: Step-out holes down-dip of previous drill hole i ntersections, which include 10 metres
grading 665 g/t silver, 1.4% zinc and 1.9% lead in drill hole A18-131 (not included in resource
estimate) and 31.9 metres grading 9.6% zinc & 19 g/t silver in hole A18-118 (included in inferred
resource) (see news releases dated October 15, 2018, and May 24, 2018).
West Ayawilca: Infill drilling to upgrade Inferred resources in to Measured or Indicated categories
(approximately 50% of program). Current Inferred resource includes drill hole intercepts such as 10.4
metres grading 44.0% zinc & 43 g/t silver in hole A18-129 (see news release dated June 26, 2018).
The Colqui Silver Zone: Step-out holes are planned to test for possible down-dip extensions of the
oxide silver mineralization. Previous drill hole highlights in clude 128 metres grading 91 g/t silver in
CDD4, and 52 metres grading 155 g/t silver in hole CDD43 (see Figure 3).
The Ayawilca Zinc Zone (sulphide) 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 (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).
Tinka has in place a rigorous health protocol including extensi ve COVID-19 testing and monitoring of its
employees, contractors and commun ity workers. Lodgings at the A yawilca camp have been increased to
accommodate additional personnel including community workers, adhering to strict social distancing guidelines
and minimizing movement. A doctor and an ambulance are available at site at all times with appropriate testing
and monitoring equipment. Tinka has also hired a consulting spe cialist doctor based in Lima to assist with
clinical diagnoses and the follow-up of suspect COVID-19 cases. The objective is to avoid COVID-19 infections
at the Ayawilca camp site, and to keep our workers and communities safe.
President and CEO of Tinka, Dr. Graham Carman, stated: “ Tinka is excited to reinitiate its drill programs at
Ayawilca. We have some great targets, including possible extensions of the Zinc Zone, as well as silver-rich
areas not yet included in the resource estimate at West Ayawilca, and at the Colqui Silver Zone. We believe
2
there is significant silver upside which is not currently rea lized. We are taking all necessary steps to minimise
health risks to our employees and communities with strict he alth protocols in place. The health and wellbeing
of our employees and neighbours is of paramount importance, and our team has gone to great lengths to ensure
that the coming program is executed with as low risk as possible.”
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. Geology and Mineral Resources of the Ayawilca Project, highlighting 2020 drill targets
2
Figure 2. Longitudinal section A-A’ (north to south) along the Colquipucro Fault, highlighting 2020
drill targets
Figure 3. Cross section B-B’ (west to east) of the Colqui Silver Zone showing the resource blocks
(coloured by grade) and target zone
2
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 (su lphide) 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 S ilver 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 Ayawilca 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
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