Tinka Resources Limited (TSXV: TK; OTCPK: TKRFF) has announced positive results from the Preliminary Economic Assessment (PEA) prepared for its 100%-owned Ayawilca zinc project in central Peru.

Ayawilca will have a 21-year mine life with average head grades of 6.05% Zn, 18.3g/t Ag, 67.1g/t In and 0.25% Pb. The project will have an average annual production of approximately 101,000 tonnes of zinc recovered in concentrate and approximately 906,000 ounces of silver in a silver-lead concentrate.

“The PEA shows that the Ayawilca Zinc project, which is located in one of the world´s most prolific polymetallic belts, is shaping up to be one of the best new zinc development projects in the Americas with strong economics and a long mine life of over 20 years. The excellent PEA results are a major milestone and justify the continued advancement of Ayawilca towards production while exploration drilling is continuing with the aim of discovering additional high grade zinc resources,” stated  CEO, Dr. Graham Carman.

The Ayawilca Zinc Zone has not been fully delineated and is open in several directions, including to the east and northeast.

Exploration drilling is currently ongoing.

Next steps

The company intends to continue to advance the Ayawilca Zinc Project towards production and next steps will include:

Obtain the required permits for infill drilling to support a Prefeasibility Study. Further expansion of the drill permits will be required in 2020 in order to test exploration targets outside of the current drill permitted areas; optimization studies will be completed to evaluate potential economic improvements, including higher metallurgical recoveries (for both Zn and Pb) and a reduction in the iron content in the zinc concentrate; Tinka will also conduct mineralogical and metallurgical studies on the Tin Zone resources in order to evaluate the economic potential of these resources.

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