Tinka expands zinc mineralization at South & West Ayawilca

36.3 METRES GRADING 5.2 % ZINC INCLUDING 5.5 METRES GRADING 12.5 % ZINC IN HOLE A17-079 MINERALIZATION REMAINS OPEN

VANCOUVER, Aug. 15, 2017 /PRNewswire/ - Tinka Resources Limited ("Tinka" or the "Company") (TSXV: TK) (OTCPK: TKRFF) is pleased to announce assay results of a further five step-out drill holes at the Company's 100%-owned Ayawilca zinc project in central Peru. These results include two holes drilled at each of West and South Ayawilca, with one hole drilled at Central Ayawilca.  Tinka continues to expand the footprint of the zinc mineralization with an aggressive 2017 drill program – approximately 12,000 metres have been drilled in 35 holes completed during the campaign so far, with further step out holes planned for the remainder of the year.

At West Ayawilca, holes A17-079 and A17-080 intersected significant thicknesses of high grade zinc mineralization, and have extended the West Ayawilca zinc zone by approximately 150 metres to the northeast.  Mineralization at West Ayawilca remains open in that direction.  At South Ayawilca, hole A17-078 has intersected manto-style mineralization a further 250 metres east from hole A17-075 (20.8 metres at 5.0 % zinc).  Zinc mineralization remains open at South Ayawilca over approximately 700 metres (see Figures 1 & 2). 

Upcoming holes are planned to test the extensions of South Ayawilca zinc mineralization to the east and south.  Additional holes are planned to follow up the bonanza silver intercept in A17-072 (2 metres at 3,170 g/t silver).

Key Highlights
Hole A17-079 (West Ayawilca):

• 36.25 metres at 5.2 % zinc, 0.2 % lead & 65 g/t indium from 273.25 metres depth, including
• 5.5 metres at 12.5 % zinc & 103 g/t indium from 304.0 metres depth;

Hole A17-080 (West Ayawilca):

• 15.2 metres at 6.0 % zinc & 184 g/t indium from 291.3 metres depth, including
• 1.8 metres at 28.4 % zinc, 34 g/t silver & 1400 g/t indium from 304.7 metres depth;

Hole A17-078 (South Ayawilca):

• 1.2 metres at 8.9 % zinc, 0.3% lead & 380 g/t silver from 190.0 metres depth, and
• 4.3 metres at 7.8 % zinc, 0.1 % lead & 57 g/t indium from 400.1 metres depth;

Hole A17-076 (South Ayawilca):

• 2.8 metres at 4.5 % zinc, 0.4 % lead, 54 g/t silver & 43 g/t indium from 196.7 metres depth;

Hole A17-077 (Central Ayawilca):

• 2.3 metres at 9.2 % zinc, 11 g/t silver & 79 g/t indium from 337.3 metres depth.

Dr. Graham Carman, Tinka´s President and CEO, stated: "The 2017 Ayawilca resource step-out drill program continues to provide excellent results. The drilling is expanding our zinc footprint well beyond resource boundaries, as well as highlighting additional areas for potential discoveries.  South Ayawilca remains open for zinc extensions over a strike distance of at least 700 metres, towards the southeast, and remains one of our primary target areas for upcoming drilling. Significantly, zinc grades improve to the south in some areas associated with massive pyrite replacement rather than pyrrhotite or magnetite, indicating high grade zinc mineralization extends beyond the magnetic geophysical anomalies and opening up new areas to explore. At West Ayawilca, high grade zinc mineralization continues at least 150 metres beyond the 2016 resource boundary to the northeast.  Tinka continues to aggressively drill test zinc targets on the Ayawilca property, heading towards a resource upgrade during the last quarter of 2017."

Results are now reported for 25 holes of the 35 holes completed in the 2017 drill campaign.   Two diamond drill rigs continue to operate at the project currently drilling at Zone 3 (hole A17-092) and South Ayawilca (hole A17-093) – see Figure 1.  Results are pending for several holes at the Valley and Chaucha areas. 

Maps attached: Drill hole locations at Ayawilca (Figure 1); Zinc grade-thickness map (Figure 2); Cross section of West Ayawilca (Figure 3); Geological map with all 2017 drill holes at Ayawilca and Chaucha (Figure 4). 

True thicknesses of the zinc intersections are estimated to be at least 85% of the downhole thickness, except where otherwise noted in footnotes to Table 1. All significant results of the 2017 program are summarized in Table 1 with the strongest intercepts in bold text. Table 2 summarizes all drill collar information to date. 

Table 1.  Summary of 2017 Drill Results from Ayawilca

Notes on sampling and assaying:
Drill holes are diamond HQ or NQ size core holes with recoveries generally above 80% and often close to 100%.  The drill core is marked up, logged, and photographed on site.  The cores are cut in half at the Company's core storage facility, with half-cores stored as a future reference.  Half-core is bagged on average over 1 to 2 metre composite intervals and sent to ALS or SGS laboratories in Lima for assay in batches.  Standards and blanks are inserted into each batch prior to departure from Tinka's core storage facilities.  At the laboratory samples are dried, crushed to 100% passing 2mm, then 500 grams pulverized for multi-element analysis by ICP using multi-acid digestion. Samples assaying over 1% zinc, lead, or copper and over 100 g/t silver are re-assayed using precise ore-grade AAS techniques.

Table 2.  Summary of Drill Collar Information (coordinates are in UTM Zone 18S WGS84 datum)

I 43-101 Technical Report:
On June 29, 2016, Tinka filed an independent National Instrument 43-101 Technical Report (the "NI 43-101 Technical Report") on the Mineral Resource Estimate for the Ayawilca Property, Department of Pasco, Peru in support of the Company's news release dated May 25, 2016.  The NI 43-101 Technical Report was authored by Mr. David Ross. P.Geo., of Roscoe Postle Associates Inc., who is an independent "qualified person" as defined by National Instrument 43-101.  The NI 43-101 Technical Report may be found under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.tinkaresources.com

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

About Tinka Resources Limited
Tinka is an exploration and development company with its flagship property being the 100%-owned Ayawilca carbonate replacement deposit (CRD) in the zinc-lead-silver belt of central Peru, 200 kilometres northeast of Lima. The Ayawilca Zinc Zone has an Inferred Mineral Resource of 18.8 Mt at 5.9 % zinc, 0.2 % lead, 15 g/t silver & 74 g/t indium, and a Tin Zone Inferred Mineral Resource of 5.4 Mt at 0.76 % tin, 0.31 % copper & 18 g/t silver (May 25, 2016). A significant resource expansion drill program began in February 2017 and is ongoing.

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, drilling results, the Company's expectations regarding mineral resource calculations, capital and other costs varying significantly from estimates, production rates varying from estimates, 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, 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