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,
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
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