Tinka Resources Limited (CVE:TK) (OTCPINK:TKRFF) (FRA:TLD) has reported assay results from its recently-completed 7,600 metre, 2020-2021 drill program at the Ayawilca project in Peru, which included 12 metres grading 3.1% tin from a depth of 262.0 metres.
The company also said it discovered a new zone of high-grade tin mineralization at South Ayawilca, immediately adjacent to the highest grade zinc resource, as what it called “significant” tin mineralization was intercepted in several of the drill holes.
“The new discovery of tin at South Ayawilca is potentially very important as a complement to the zinc deposit, as it is the first time we have encountered such high grades of tin immediately adjacent to one of the best zones of zinc at the property, an area which would likely be prioritized in the early years of a future mining operation,” Tinka Resources CEO Dr Graham Carman said in a statement.
READ: Tinka Resources steadily advancing one of the largest undeveloped zinc prospects in world
“This new style of tin mineralization appears to be different to that observed previously in the deeper part of the Tin Zone at Central Ayawilca - the new style contains what appears to be ‘clots' of coarse-grained cassiterite mineral grains,” Dr Carman added.
The company noted that this is the first time tin mineralization of such high grade has been discovered at South Ayawilca.
It added that tin mineralization was intersected in eight adjacent drill holes, including seven of the recent holes, in zones that typically contain very minor or no zinc mineralization.
The tin mineralization is believed to be hosted by multiple, flat-dipping lenses with each lens up to 12 metres in thickness and with horizontal dimensions of about 200 metres, remaining open to the north.
With the drill results now fully reported, Tinka said it is advancing Ayawilca towards a resource update and an updated Preliminary Economic Assessment by early 3Q 2021.
A 2018 resource estimate for the Ayawilca Zinc zone showed an estimated 1.8 billion pounds of zinc in the higher confidence Indicated category and 5.8 million ounces silver, along with an Inferred resource of 5.6 billion pounds zinc and 25.2 million silver ounces.
Contact Sean at sean@proactiveinvestors.com