VANCOUVER, BC, June 9, 2020 /CNW/ - Tinka Resources
Limited ("Tinka" or the "Company") (TSXV &
BVL: TK) (OTCPK: TKRFF) is pleased to provide an update
on its exploration activities in Peru.
On Thursday June 4th,
the Government of Peru authorized
the initiation of Phase 2 of the economic reactivation in the
country in the face of the COVID-19 pandemic. Mineral
exploration is included as one of the Phase 2 activities.
Tinka has submitted its COVID-19 health and monitoring protocol to
the Ministry of Health, and is now able to recommence exploration,
at any time, at its Ayawilca property in the Pasco region of
Central Peru. The state of
emergency in Peru is expected to
continue until June 30th.
As such, reactivation of exploration activities will require
additional and carefully planned logistics.
Tinka will reactivate its exploration programs at Ayawilca
cautiously over the course of a period of weeks. A gradual,
cautious approach is essential to ensure our health protocols are
functioning well and as safely as possible, to minimize the risks
of COVID-19 infections to our employees and our nearby
communities.
President and CEO of Tinka, Dr. Graham
Carman, stated: "Tinka is very pleased to get the
go-ahead from the Peruvian government to recommence our exploration
activities, however, we will do so cautiously to minimize risks.
The safety of our employees and their families and our nearby
communities remains our highest priority. The next phase of
the drill program at Ayawilca is planned to commence in August and
continue until December, all going well. This program is
expected to include at least 7,000 metres of infill and step-out
drilling, with a focus on growing and upgrading the high-grade
zinc-silver resources at the West and South zones. Our geological
team has interpreted new drill targets along the Colquipucro Fault,
an important structure which hosts mineralization along a 4 km
trend, which will be a focus in the drill program (see latest
corporate presentation here). Tinka remains well
funded, following the strategic investment by Buenaventura and
Sentient, in January
2020."
About Tinka Resources
Limited
Tinka is
an exploration and development company with its flagship property
being the 100%-owned Ayawilca carbonate replacement deposit (CRD)
located in the zinc-lead-silver belt of central Peru, 200 kilometres northeast of Lima. The Ayawilca Zinc Zone contains 11.7 Mt
of Indicated Resources grading 6.9% zinc, 15 g/t silver, 0.2% lead
and 84 g/t indium and 45.0 Mt Inferred Resources grading 5.6% zinc,
17 g/t silver, 0.2% lead and 67 g/t indium. A Preliminary
Economic Assessment for the Ayawilca Zinc Zone was released on
July 2, 2019 (see release). 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.
On behalf of the Board,
"Graham Carman"
Dr. Graham Carman, President &
CEO
Forward Looking Statements: Certain information in this news
release contains forward-looking statements and forward-looking
information within the meaning of 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 reflect the current risks, uncertainties and assumptions
related to certain factors including, without limitations: timing
of planned drill programs and results varying from expectations;
delay in obtaining results; expectations regarding the Ayawilca
Project PEA; the potential impact of epidemics, pandemics or other
public health crises, including the current outbreak of the novel
coronavirus known as COVID-19 on the Company's business, operations
and financial condition; changes in world metal markets; changes in
equity markets; uncertainties relating to the availability and
costs of financing needed in the future; equipment failure,
unexpected geological conditions; imprecision in resource estimates
or metal recoveries; success of future development initiatives;
competition and 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, forward-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
SOURCE Tinka Resources Limited
