Tinka Resources Limited (TKRFF)

[douginil]

TINKA DRILLS 8 METRES GRADING 31% ZINC & 225 GRAMS PER TONNE SILVER AT AYAWILCA

January 28, 2021

Vancouver, Canada – Tinka Resources Limited (“Tinka” or the “Company”) (TSXV & BVL: TK) (OTCPK: TKRFF) is pleased to announce assay results for seven drill holes from the ongoing resource expansion and infill drill program at the Ayawilca project in Peru. Hole A20-177 intersected very high grade vein-style zinc-silver-lead mineralization outside of the zinc resource at about 100 metres depth. Three holes (A20-178, 177 & 175) also successfully intersected high grade manto-style zinc mineralization at the Camp area. Hole A20-179 was an infill hole at the West area which intersected two wide zones of mineralization with better than expected zinc grades. The other three holes intersected extensions of zinc-rich mineralization at the South area (holes A20-176, 174, 172). Tinka has now completed 6,500 metres of the planned 7,500 metres in the resource drilling program. Sixteen holes have been completed with two in progress (A21-185 & 186) and at least two more are planned before the end of the program. Results are now reported for half of the drill holes in the current program.

Drill Highlights:

Camp area:

Hole A20-177

*19.2 metres @ 15.6% zinc. 1.5% lead & 154 g/t silver from 101.1 metres depth, including
*1.9 metres @ 24.9% zinc, 7.7% lead & 604 g/t silver from 101.1 metres depth; and
*7.8 metres @ 31.3% zinc, 1.7% lead & 225 g/t silver from 112.5 metres depth; and
34.0 metres @ 7.4% zinc & 8 g/t silver from 290.0 metres depth, including
16.6 metres @ 9.5% zinc & 10 g/t silver from 298.3 metres depth;

Hole A20-178

42.1 metres @ 6.3% zinc & 14 g/t silver from 281.9 metres depth, including
20.4 metres @ 9.8% zinc & 15 g/t silver from 289.5 metres depth, including
7.9 metres @ 16.7% zinc & 27 g/t silver from 302.0 metres depth.

Hole A20-175

*1.2 metres @ 43.6% zinc & 212 g/t silver from 136.5 metres depth; and
16.4 metres @ 4.4% zinc & 7 g/t silver from 235.7 metres depth.

West Area:

Hole A20-179

31.9 metres @ 6.0% zinc & 15 g/t silver from 224.1 metres depth, including
11.8 metres @ 8.4% zinc & 32 g/t silver from 242.0 metres depth; and
34.6 metres @ 7.0% zinc & 6 g/t silver from 270.0 metres depth, including
12.2 metres @ 9.4% zinc & 5 g/t silver from 276.0 metres depth.

South Area:

Hole A20-176

11.2 metres @ 5.3% zinc & 27 g/t silver from 336.2 metres depth.

Hole A20-174

1.2 metres @ 10.3% zinc & 4 g/t silver from 318.6 metres depth.

Hole A20-172

*0.9 metres @ 5.9% zinc, 5.3% lead & 733 g/t silver from 178.7 metres depth; and
7.2 metres @ 5.1% zinc & 15 g/t silver from 277.2 metres depth.

Mineralization is mostly associated with gently-dipping sulphide “mantos” hosted in limestones. True thicknesses of the mantos are estimated to be at least 90% of the downhole thicknesses. The intervals marked * are vein-style hosted by sandstones and have an unknown true thickness. Refer to map and cross sections in Figures 1 and 2.

President and CEO of Tinka, Dr. Graham Carman, stated: “The 2020-21 Ayawilca drill program continues to deliver high-grade zinc mineralization with significant silver credits. We are particularly excited about the very high-grade zinc-silver vein intersection in hole A20-177, one of the best grade intersections we have ever had at Ayawilca and especially attractive as it occurs at shallow depth. The vein-style mineralization was intersected at a low-angle to the drill core axis so the true width of the vein is currently unknown. The thick vein is hosted in the quartz sandstone member of the Goyllar Formation which was not previously considered as a favourable host rock. The shallow nature of the mineralization (about 100 m depth) opens up the possibility for high-grade zinc-silver-lead resources much closer to surface than previously thought. We plan to follow up this vein with more drilling before the end of the current program to better define its geometry and extent.”

“Drill holes at the Camp area have also discovered strong manto-style zinc mineralization outside of the current resource hosted within the limestones. Drilling is continuing currently at the South area with two rigs operating. We expect the program to be completed in February, after which time the data will be compiled for a resource and PEA update. We continue to believe that Ayawilca is perfectly positioned to take advantage of the current positive market sentiment towards base metals, and we look forward with anticipation to the results for the final half of the drill program.”

Read at:
https://mailchi.mp/f901a304bc0b/gtc64gwez1?e=e6d14b37f4