The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

Tinka Releases Independent NI 43-101 Report for the Colquipucro Project, Peru

Thursday, October 18, 2012

Tinka Releases Independent NI 43-101 Report for the Colquipucro Project, Peru08:45 EDT Thursday, October 18, 2012TSXV - TK; Frankfurt - TLD; Pinksheets - TKRFFVANCOUVER, Oct. 18, 2012 /CNW/ - Tinka Resources Limited (the "Company"), (TSXV: TK) (Frankfurt: TLD) (OTCPK: TKRFF), announces the release of an independent NI 43-101 report for the Company's 100 percent-owned Colquipucro project, central Peru. Within this report are the details of the recently announced Zone 1 inferred silver resource calculation (see press release October 15, 2012). A copy of the full report is available on www.sedar.com and the Company's website www.tinkaresources.com. The report also details the results of the second round of metallurgical tests.Mr Carter said: "We are extremely pleased with the details and recommendations in this report and will work towards commencing in-fill drilling at Zone 1 as soon as possible. This second round of metallurgical results provides the Company with further information as to the recoverability of the silver using a significantly lower cyanide concentration than used in the preliminary metallurgical test performed in 2009".Four sets of drill core samples were tested by bottle roll and column leach in 2012 at the metallurgical division of SGS Laboratories in Lima, Peru. Composite samples with nominal head grades of 30, 60, 90 and 120 g/t Ag were selected. The bottle roll tests yielded recoveries of up to 84% Ag and the column leach tests up to 71% Ag after 72 hours. The preliminary bottle roll tests conducted in 2009 were done on two sets of drill core samples using significantly higher cyanide concentrations; these yielded recoveries of up to 90% and 97% Ag after 72 hours.SGS Laboratories observed that in the bottle roll tests with only a 0.1 g/L cyanide concentration, extraction rates were fairly low; however, increasing the cyanide concentration to 0.5 g/L significantly increased the extraction rate for silver by 15%. Plenge Laboratories, for comparison, used cyanide concentrations of 2.0 g/L to 5.0 g/L.The column leach test results closely match the extraction results observed in the bottle roll and benchmark test. As with the bottle roll tests, the higher grade composites also yielded the best silver extractions in solution.SGS made several recommendations to further study and improve the vat leach tests, including use of different particle sizes, changing the irrigation rates, using larger volume of sample and varying the reagent concentrations.The Company has permits in place to conduct the phase 3 drilling program. In-fill drilling will be done along gaps in the existing sections and along intervening sections spaced 50 m apart. The additional drilling should be adequate to upgrade the resources from the inferred to indicated category and core from the program will used for further metallurgical studies.The Company's Qualified Person, John Nebocat (P.Eng.), has reviewed and approved the contents of this news release.On behalf of the Board,"Andrew Carter"Andrew Carter, President & CEOForward Looking Statements This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management.  Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events.  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.Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.SOURCE: Tinka Resources LimitedFor further information: Company Contact: Mariana Bermudez at (604) 699 0202 or email: mbermudez@chasemgt.com website: www.tinkaresources.comInvestor Information Contact: Bay Street Connect Michael D'Amico Tel:   1.647.500.6023 Email: michael@baystreetconnect.com