Tinka Reports Additional Step-Out & Infill Drill Holes at Ayawilca and Highlights Upper Manto Discovery
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 18, 2018
TINKA REPORTS ADDITIONAL STEP-OUT & INFILL DRILL HOLES AT AYAWILCA
AND HIGHLIGHTS UPPER MANTO DISCOVERY
Vancouver, Canada – Tinka Resources Limited ( “Tinka” or the “ Company”) ( T S X V & B V L : T K)
(OTCPK: TKRFF) is pleased to announce results for twelve drill holes from the Company’s ongoing resource
expansion and confirmation drill program at the 100% owned Ayawilca project, central Peru.
Key Highlights:
Five resource step-out drill holes at West, South, Central and Camp areas have all intersected significant
zinc mineralization hosted mostly by Pucara limestone, the main host of the zinc sulphide mineralization;
Hole A18-148 intersected high-grade zinc (5.5 metres grading 10% zinc) 100 metres further east of
the current resource at the Central area, with extensions to be tested later in 2018;
Hole A18-146 intersected high-grade zinc and silver mineralization (1.7 metres grading 2 7% zinc &
1520 g/t silver from 57 metres depth) in an ‘Upper Manto’ hosted by sandstone at the South area, above
and lateral to the known limestone hosted resource. The Upper Manto has been observed in other drill holes
and is considered significant due to its shallow depth and proximity to existing resources;
Hole A18-150 (9.6 metres grading 6% zinc) and adjacent hole A18 -154 have extended known minerali-
zation at the West area 120 metres to the northeast – mineralization remains open;
Seven resource infill holes are also reported from the West and South areas, drilled to improve the Com-
pany’s geological model and to target additional zinc mineralization at depth;
Tinka now plans to update the Ayawilca resource estimate in Q4 2018, while step-out drilling continues.
Graham Carman, Tinka´s President and CEO, stated: “The step-out drill hole results reported in this release
are very positive, and show that the footprint of zinc mineralization at Ayawilca is getting larger. So far in
2018 we have discovered several new areas of significant zinc mineralization, including:
- thick and high-grade intersections up to 150 metres to the northwest of the West Ayawilca resource (e.g.,
hole A18-118);
- the Camp area, which connects West mineralization with the Central area (e.g., holes A18-130 & 134);
- repetitions of mineralized limestone beneath lenses of phyllite at West Ayawilca which can host excep-
tional zinc grades (e.g., 10.4 metres grading 44% zinc, hole A18-129);
- shallow zinc sulphide mineralization hosted by the ov erlying sandstone within a laterally extensive
Upper Manto; and
- extensions to the mineralization east of the Central and West areas (e.g., holes A18-148 & A18-150);
“Zinc mineralization still remains open along strike and down dip in several directions, while other prospec-
tive areas such as Zone 3 continue to offer additional potential.”
“A priority in 2018 has been to identify additional zinc resources with step-out drill holes. In addition, several
infill holes have been drilled, to test for repetitions of the mineralized lim estone beneath and within areas of
known resources where key information was lacking. The infill holes drilled at the South and West areas have
improved our geological model and understanding of the controls of the mineralization, while also confirming
the continuity of grade and thickness of zinc mineralization.”
“Tinka has so far drilled 19,000 metres in 2018, on top of 46,000 metres drilled at the Ayawilca project from
the initial discovery in 2013 to the end of 2017. A resource update is planned for Q4 2018, based on all drill
data to the end of September 2018. An additional 1,000-2,000 metres of drilling is planned for the remainder
of the year, with one rig operating at site. Importantly, the 2018 drill program is on schedule and on budget.”
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“Upon completion of the resource update in Q4 2018, the Company will be in a position to either move ahead
with a Preliminary Economic Assessment in 2019, or to focus on further resource expansion. In the meantime,
we look forward to updating our shareholders with in formation on additional drill results and the upcoming
resource update.”
Highlights – Infill holes at West Ayawilca
Hole A18-141:
89.0 metres at 5.0% zinc, 11 g/t silver & 97 g/t indium from 288.0 metres depth, including
3.0 metres at 22.4% zinc, 30 g/t silver & 129 g/t indium from 374.0 metres depth.
Hole A18-143:
14.0 metres at 9.1% zinc, 10 g/t silver & 15 g/t indium from 146.0 metres depth; and
5.5 metres at 15.1% zinc, 19 g/t silver & 196 g/t indium from 298.0 metres depth, including
2.9 metres at 24.8% zinc, 29 g/t silver & 298 g/t indium from 300.2 metres depth.
Hole A18-145:
42.0 metres at 5.2% zinc, 12 g/t silver & 144 g/t indium from 302.0 metres depth.
Hole A18-137:
12.7 metres at 10.3% zinc, 18 g/t silver & 306 g/t indium from 279.3 metres depth, including
3.2 metres at 25.7% zinc, 35 g/t silver & 638 g/t indium from 286.9 metres depth.
Hole A18-140:
9.0 metres at 8.8% zinc, 10 g/t silver & 78 g/t indium from 283.6 metres depth;
Highlights – Infill holes at South Ayawilca
Hole A18-139:
20.5 metres at 5.6% zinc, 5 g/t silver & 63 g/t indium from 248.0 metres depth, including
2.4 metres at 18.1% zinc, 17 g/t silver & 162 g/t indium from 258.6 metres depth; and
2.9 metres at 15.7% zinc, 0.5% lead & 29 g/t silver from 313.1 metres depth.
Hole A18-142:
19.1 metres at 8.5% zinc, 16 g/t silver & 105 g/t indium from 232.7 metres depth, including
2.1 metres at 38.4% zinc, 31 g/t silver & 525 g/t indium from 243.6 metres depth.
Highlights – Step-out drill holes
Hole A18-148 (Central Ayawilca):
5.5 metres at 9.8% zinc, 8 g/t silver & 42 g/t indium from 378.6 metres depth in limestone.
Hole A18-146 (South Ayawilca):
1.7 metres at 26.9% zinc, 0.9% lead & 1,526 g/t silver from 57.0 metres depth in the Upper Manto.
Hole A18-138 (Camp):
1.5 metres at 19.3% zinc, 100 g/t silver & 138 g/t indium from 146.2 metres depth in limestone.
Hole A18-150 (West Ayawilca):
9.6 metres at 6.3% zinc, 5 g/t silver & 77 g/t indium from 337.9 metres depth in limestone.
Note: All intercepts shown above are down-hole intercepts. True thicknesses of the zinc intersections are
estimated to be at least 85% of the downhole thicknesses.
List of attached figures:
Figure 1 is a drill hole location map highlighting holes with recent results in RED.
Figure 2 is a long section of South Ayawilca A-A’ viewing to the north.
Figure 3 is a long section of West Ayawilca B-B’ viewing to the northwest.
Figure 4 is a cross section of West and South Ayawilca C-C’ viewing to the northeast.
List of attached tables:
Table 1 shows new significant drill intercepts with the strongest intercepts in bold text.
Table 2 summarizes the drill collar information for the recent holes.
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Figure 1. Ayawilca drill hole map highlighting 2018 holes, new release holes & current zinc resources
Summary of Ayawilca Inferred Zinc Zone Mineral Resources (Nov’ 8, 2017)
South Ayawilca 13.3 million tonnes at 9.5% ZnEq (7.6% zinc, 0.2 % lead, 25 g/t silver & 118 g/t indium)
West Ayawilca 9.0 million tonnes at 7.2% ZnEq (6.1% zinc, 0.2 % lead, 14 g/t silver & 64 g/t indium)
Central Zone 13.0 million tonnes a t 5.7% ZnEq (4.7% zinc, 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% lead, 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 recovery 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. Long section of South Ayawilca A-A’ viewing to the north
The Upper Manto within the Goyllar sandstone formation is shown as a 3D projection.
Existing inferred zinc resources are shown by the red & green hatch
Figure 3. Long section of West Ayawilca B-B’ viewing to the northwest
The Upper Manto within the Goyllar sandstone formation is shown as a 3D projection. Recent infill drill
holes at West Ayawilca are not labelled. Existing inferred zinc resources are shown by the red & green hatch
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Figure 4. Cross section of West and South Ayawilca C-C’ viewing to the northeast
The Upper Manto in the Goyllar sandstone formation is shown as a 3D projection. Some recent infill drill
holes are not labelled. Existing zinc resources are shown by the red & green hatch
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Table 1. Recent significant drill intercepts at Ayawilca
Drill hole From m To m Interval m Zn % Pb % Ag g/t Indium g/t A rea Comment
A18-137 178.00 182.10 4.10 2.3 2.8 102 0 West Infill
and 250.00 253.30 3.30 9.4 1.9 58 2 West
and 279.30 292.00 12.70 10.3 0.0 18 306 West
including 286.90 290.10 3.20 25.7 0.0 35 638 West
A18-138 104.70 105.10 0.40 26.7 0.3 75 533 Camp Step-out
and 146.20 147.70 1.50 19.3 0.0 100 138 Camp
and 253.70 256.10 2.40 9.4 0.9 41 0 Camp
and 283.60 285.40 1.80 3.5 4.3 123 0 Camp
A18-139 248.00 268.50 20.50 5.6 0.0 5 63 South Infill
including 258.60 261.00 2.40 18.1 0.1 17 162 South
and 311.90 317.90 6.00 9.7 0.3 21 8 South
including 313.10 316.00 2.90 15.7 0.5 29 11 South
A18-140 174.70 178.20 3.50 3.4 4.6 120 0 West Infill
and 283.60 292.60 9.00 8.8 0.1 10 78 West
A18-141 238.00 250.40 12.40 3.9 0.0 8 3 West Infill
and 288.00 377.00 89.00 5.0 0.0 11 97 West
including 374.00 377.00 3.00 22.4 0.0 30 129 West
A18-142 232.70 251.80 19.10 8.5 0.1 16 105 South Infill
including 243.60 245.70 2.10 38.4 0.1 31 525 South
A18-143 146.00 160.00 14.00 9.1 0.0 10 15 West
including 155.20 157.80 2.60 18.7 0.1 23 20 West Infill
and 262.30 269.60 7.30 6.7 0.0 16 12 West
and 298.00 303.50 5.50 15.1 0.0 19 196 West
including 300.20 303.10 2.90 24.8 0.0 29 298 West
A18-144 results awaited Vetas
A18-145 212.40 221.10 8.70 5.8 0.0 16 0 West Infill
and 283.40 290.20 6.80 5.0 0.0 8 43 West
and 302.00 344.00 42.00 5.2 0.0 12 144 West
including 338.00 340.90 2.90 11.6 0.0 24 364 West
A18-146 57.00 58.70 1.70 26.9 0.9 1536 16 South Step-out
A18-147 results awaited Vetas
A18-148 378.60 384.10 5.50 9.8 0.0 8 42 Central Step-out
and 395.50 409.60 14.10 4.0 0.0 8 58 Central
and 434.40 442.50 8.10 3.0 0.1 36 24 Central
A18-149 results awaited Vetas
A18-150 337.90 347.50 9.60 6.3 0.0 5 77 West Step-out
A18-151 results awaited South
A18-152 results awaited South
A18-153 results awaited South
A18-154 368.80 372.40 3.60 5.3 0.0 6 46 West 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.
Table 2. Summary of Drill Collar Information (coordinates are in UTM WGS84 Zone 18S datum)
Drill Hole Easting Northing Total depth (m) Elevation (m) Azimu th Dip
A18-137 332808 8845769 443.9 4233 200 -80
A18-138 332984 8845394 446.6 4241 000 -90
A18-139 333114 8845103 387.5 4205 150 -85
A18-140 332720 8845725 376.5 4246 020 -82
A18-141 332689 8845605 468.0 4267 020 -78
A18-142 333006 8845202 325.9 4213 125 -85
A18-143 332769 8845563 379.5 4254 020 -85
A18-144 332548 8845705 365.1 4294 060 -72
A18-145 332720 8845725 396.1 4246 320 -87
A18-146 332795 8845121 371.9 4183 000 -90
A18-147 332442 8845956 225.5 4336 190 -60
A18-148 333768 8845426 474.8 4150 000 -90
A18-149 332533 8845783 357.7 4284 335 -45
A18-150 332937 8846026 396.3 4251 000 -90
A18-151 332751 8845055 134.4 4145 090 -65
A18-152 333005 8844940 508.9 4152 000 -90
A18-153 332881 8845300 93.3 4216 060 -60
A18-154 332940 8846022 427.2 4251 090 -75
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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
About Tinka Resources Limited
Tinka is an exploration and development company with its flagship property being the 100%-owned Ayawilca
carbonate replacement deposit (CRD) in the zinc-lead-silver bel t 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.
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 Roscoe 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 purpose of National Instrument 43-101.
The Mineral Resources have been classified in accordance with C IM 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
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.
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 facility,
with half-cores stored as a future reference. Half-core is bag ged on average over 1 to 2 metre composite intervals and
sent to SGS 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 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. Samples assaying over 200 ppm tin are
re-assayed by fusion methods with an AAS finish (method AAS90B).
Forward Looking Statements: Certain information in this news release contains forward-look ing statements and
forward-looking information within the meaning of Certain infor mation in this news release contains forward-looking
statements and forward-looking information within the meaning o f 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 ref lect the current risks, uncertainties and assumptions
related to certain factors including, without limitations, drilling results, the Company’s expectations regarding the ongoing
drill program, the Company’s expectations regarding mineral res ource calculations, capital and other costs varying
significantly from estimates, production rates varying from estimates, changes in world metal markets, changes in equity
m a r k e t s , u n c e r t a i n t i e s r e l a t i n g t o t h e a v a i l a b i l i t y a n d c o s t s of financing needed in the future, equipment failure,
unexpected geological conditions, imprecision in resource estim ates or metal recoveries, success of future development
initiatives, competition, 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, forw ard-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