Tinka Resources Delivering on Mandate to Create Investor Wealth
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Tinka Resources’ Colquipucro silver project is located in western Peru 190 km northeast of Lima. The project lies 40 km northwest of the famed Cerro de Pasco and Colquijirca mines, 35 km east of the Raura mine, and 25 km northeast of Buenaventura´s high grade, 150 million oz Uchuccahacua silver mine. The project consists of 46 claims totaling 102 square km.
Surrounded as it is by major mining projects, Colquipucro has excellent infrastructure, including roads and a power line crossing the project’s boundaries.
Tinka was able to use existing adits, trenches and outcrops for mapping and sampling to define a target that was tested with 15 diamond drill holes in 2007. All but one hole intercepted silver mineralization above a cut-off grade of 30 g/t silver.
Significant drill intervals included 60 m grading 135 g/t silver and 66 m grading 83 g/t silver. High grade intercepts included 10 m grading 625 g/t silver and 8 m grading 551 g/t silver.
Mineralization begins near surface, indicating a low strip ratio.
With three years of surface exploration work now complete, including 2,670 metres of drilling.
Tinka has identified a zone of 200 m east-west by 500 m north-south that extends to a depth of between 100 m and 200 m known as Zone 1.
A NI43-101 compliant resource estimate for Zone 1 determined an inferred silver resource of 5.7 million tonnes grading 111 g/t silver or more than 20 million ounces silver.
Tinka is targeting a total resource of 30 million ounces at Zone 1, and will continue drilling to the north and west to define this in 2011.
Metallurgical testing of the mineralized rock from Zone 1 has demonstrated exceptionally high recovery rates ranging from 90% to 97% with just 72 hours of leaching which is considered to be very fast.
In 2010, Tinka Resources completed an IP survey at Colquipucro. The target of this survey was the undrilled Ayawilca zone, located south of Zone 1. Ayawilca appears to have a similar structural setting to Zone 1 and mineralization has been traced up to 600 meters from the main Ayawilca zone. Tinka will now deploy a drill to test this promising new target with 10 holes. Results are expected to be announced by Q3, 2011.
As the price of silver reaches historic highs, Tinka Resources’ target of 30 million oz silver at Zone 1 could net the company significant upside in its share price. With the addition of resources from other targets at Colquipucro and the company’s planned drill program at the Tibillos porphyry copper property, Tinka plans to deliver on its mandate to create investor wealth.
Copyright 2011 Resource Intelligence Inc.
NOTE: This presentation may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The Issuer relies upon litigation protection for forward-looking statements.
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