Tinka Resources (TK-V) has a new zinc find on its hands in west-central Peru, and the market is taking notice. The company released its latest results from a single diamond drill hole A12-04A at its Ayawilca project, near Colquipucro in the department of Pasco.
The hole returned highlight intercepts of 20 metres grading 7.1% zinc and 9 grams silver from the 260-metre level, and 12 metres grading 3.3% zinc from the 188-metre level.
The hole was drilled vertically from the same platform as hole 53. Results from hole 53 were released in February, and were highlighted by 10.4 metres grading 7% zinc.
The latest results continue to support Tinka’s decision to start drilling the western part of an induced-polarization anomaly, as the area is getting encouraging early results.
Tinka says the hole intercepted massive and semi-massive sulphides consisting of pyrite, sphalerite, lesser galena, chalcopyrite and arsenopyrite, hosted by sedimentary breccia, greywacke and siltstone that could belong to the Oyon formation, which underlies the Gollyar sandstones.
The geometry of the mineralization is not fully understood, but Tinka believes that mineralization comes from steeply dipping structures that underlie a sedimentary sequence.
Ayawilca is located 1.5 km south of the company’s flagship Colquipucro property, which has inferred resources of 13.9 million tonnes grading 72.98 grams silver for 32.7 million contained oz. silver.
The zinc discovery at Ayawilca was made in 2011, when the company drill tested an induced-polarization anomaly. Only the western portion of this target has been drill tested to date.
Tinka has 74.27 million shares issued on a fully diluted basis. Its share price was up 8%, or 5¢, after releasing the latest drill results, and finished trading on Nov. 7 at 68¢, on 40,000 shares traded.
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