Tinka Resources Limited (TKRFF)

[douginil]

Tinka Provides Update On Peru Activities

Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “Company”) (TSXV & BVL: TK) (OTCPK: TKRFF) is pleased to advise that the Company’s employee in Peru who tested positive to COVID-19 as disclosed on March 26th has now fully recovered from the virus and is in good health. To the best of our knowledge, there are no other cases of COVID-19 infection amongst Tinka employees or in the communities associated with our activities in the Pasco region of Peru.

The state of emergency in Peru has been in place since March 15th and is now extended until May 24th following a recent announcement by the government of Peru. Mining is one of the key sectors of the Peruvian economy, and the government has indicated that mining will be one of the first industries to recommence after the lockdown eases, using a phased stage approach. The restart in mining will begin with large operations and strategic mining projects under construction, while exploration and development projects like Ayawilca will commence a short while after.

Tinka’s employees in Peru have been in self-isolation during the lockdown, while our community relations team has continued to engage with the local communities in preparedness for an increase in work activities to follow. Prior to the restart of exploration activities, Tinka will be required (along with all resource companies) to obtain approval from government bodies for its own health protocols. The protocols will incorporate self distancing, disinfection procedures and COVID-19 testing among other measures. The Company is planning for the next exploration phase at Ayawilca to commence during the latter part of 2020, which 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 West and South.

Tinka is well funded, following the investment by Buenaventura and Sentient in January 2020, and has no debt. The Company has also taken steps to reduce its overhead costs to match reduced levels of activities.

President and CEO of Tinka, Dr. Graham Carman, stated: “Tinka’s fundamentals remain strong following the strategic financing completed early in 2020, underpinned by our 100% owned Ayawilca zinc-silver project. The safety of our employees and their families and our nearby communities remains our highest priority, and our Peruvian management team is to be congratulated for its decisive response to prevent the spread of COVID-19 at our project camp. Corporate administration costs have been reduced during this lockdown period as we aim to preserve the Company’s cash position. We look forward to updating the market as our field activities in Peru recommence in coming weeks.”




Read at:
https://www.tinkaresources.com/news/tinka-provides-update-on-peru-activities-2020-05-11