An exploration drill program of up to 10,000 metres has commenced with one drill rig operating. It is anticipated a second rig will be mobilized to site within the next few weeks. Several deep holes are planned at West and South Ayawilca to test for structural repetitions of high-grade zinc mineralization in limestones beneath existing zinc resources, which will also double as infill holes. Additional holes will be drilled along strike of existing resources to test for extensions of the mineralization where the resource still remains open.
The Company’s Preliminary Economic Assessment for the Ayawilca zinc project (the “Ayawilca Project PEA”) is progressing well and remains on track to be completed by the end of Q2 2019. The Ayawilca Project PEA is based on the mineral resource estimate as at November 26, 2018 (see news release dated Nov. 26, 2018).
Dr. Graham Carman, Tinka’s President and CEO, stated: “The Company is excited to commence its 2019 drill program. This new program will build on the 2018 drill program which confirmed the presence of high-grade zinc mineralization hosted by a deeper limestone unit lying underneath the current resource. Our geologists have generated detailed 3D models of the deposit and we believe there is excellent potential for additional discoveries of high-grade zinc mineralization. Ayawilca is already one of the largest undeveloped zinc projects in the Americas, but additional discoveries nearby our current resources could ultimately add significant value to the project. We look forward to updating the market with these drill results in the coming months, as well as announcing the results of the PEA before the end of Q2 2019.”
Source: Company Press Release
