I suspected that something was brewing underneath the surface with Tinka Resources on Thursday when I advised readers to take another hard look at the stock and by gosh we nailed it.
Tinka announced this morning that they have drilled 42 m of 165 g/t silver including 10 m of 354.7 g/t silver at the northern extension of Zone 1 at their Colquipucro project in Peru.
The news hit the wire not long ago and is further confirmation of the massive potential hiding underneath the surface at their property in Peru. Of course if you had been following along since we first started discussing this company you would have known that by now.
VANCOUVER, Feb. 21, 2012 /CNW/ - Tinka Resources Limited (the "Company"), (TSXV - TK; Frankfurt - TLD; Pinksheets -TKRFF), announces the results from three further drill holes testing the northern extension of Zone 1 on the Company's wholly-owned Colquipucro silver-zinc-lead property, west-central Peru. The holes were drilled on the easternmost and central section lines of the known resource.
The holes intercepted oxidized, banded, "zebra-stripe" sandstone and progressed into the underlying sedimentary breccia, greywacke, siltstone and fluidized sulphide unit. This unit is generally quite thin or non-existent elsewhere in the resource area, but each of holes 16 to 19 intercepted many 10's of metres of this lithologic assemblage, not reaching the underlying Pucura limestone. Also, the mineralization in this unit is more oxidized than in holes further downslope or west from here. All holes intercepted the high grade veins/faults/gossan zones within the sandstone roughly perpendicular to the dip of the hole, while the intervening fracture-controlled mineralization in the sandstone was intercepted at about 45 degrees to the inclination of the drill hole, on average. The orientation of the mineralization within the underlying sedimentary breccia is not clear, however, narrow zones of intense oxidation suggest that the mineralized structures in the overlying sandstone may penetrate the underlying unit. The mineralization in holes 17 and 18 remain open at depth and 19 was abandoned at 129 m due to drilling conditions.
Mr Carter said: "These results are extremely positive as they confirm that the mineralization continues north and is open at depth, giving the potential of increasing the size of the resource. Drilling is continuing at Zone 1 testing the northern extension. The Company has elected to withdraw from its option over the Tibillos copper porphyry property due to the drill results. In doing so, the Company will be able to concentrate its efforts and resources into the Colquipucro project.”