Tinka Resources Ltd (CVE:TK) (OTCPK:TKRFF) described as "exceptional' recent zinc grades found during drilling of three holes at its flagship Ayawilca project in Peru.
One returned some of the best zinc intersections ever drilled at the South Ayawilca part of the property, both within and immediately outside of the zinc resource boundary, the Vancouver-based firm said.
It hit four separate, gently dipping zones with downhole thicknesses of between 9 and 29 metres and grading between 11.8% and 14.0% zinc, within an overall downhole interval of 170 metres.
Another hole hit very high-grade silver, the company said in Tuesday's statement.
Dr Graham Carman, Tinka's chief executive, said that the hole which hosted four zones of mineralization with outstanding zinc grades confirmed the continuity of the mineralization and increased confidence in Tinka's geological model.
"We are also excited by the high grade Silver Zone discovery in hole A19-167, originally a 2017 Tinka drill hole that was recently deepened to test extensions of the silver mineralization encountered in hole A19-163," he added.
"The success of A19-167 proves that Ayawilca has very high-grade silver mineralization which is believed to have developed around the edge of the Ayawilca Zinc Zone. This recent discovery offers a new exploration target and potentially significant precious metal upside to supplement the very large zinc resource."
Resource estimate last year
A resource estimate last year for the Ayawilca zinc zone showed a higher confidence indicated resource of 11.7 million tonnes, containing 1.8 billion pounds of zinc, 983 tonnes of indium, 5.8 million ounces of silver and 42 million pounds of lead.
Meanwhile, the Colquipucro silver oxide deposit contains 2.9 million tonnes of indicated resources grading 112 g/t silver, for 10.4 million ounces of silver.
"The 2019 drill program at South Ayawilca is greatly improving our understanding of the structural and lithological controls of the high grade zinc mineralization," said Carman.
Highlight intercepts at South Ayawilca also included 28.7 metres at 14% zinc, 14 g/t silver, 0.1% lead and 101 g/t indium from 214.6 metres, including 18.65 metres at a grade of 17.4% zinc, 11 g/t silver and 68 g/t indium from 221.5 metres.
Shares added 6.45% to C$0.16 in Toronto on the day.
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