The company has also received final approval of its modified environmental impact assessment for Ayawilca from the Ministry of Energy and Mines which allows Tinka to drill from up to 240 drill platforms within the existing permitted work area at Ayawilca in the next two-to-three years. The permit enables Tinka to carry out all the drilling needed to advance the project through the next phase of exploration and development.
"The very high grade zinc zone near the base of the mineralized interval is typical of some of the almost-pure zinc sulphide intervals we have intersected in several holes at both South and West Ayawilca," said president and CEO Dr Graham Carman.
"Additional infill drilling will be required to upgrade the Ayawilca resource to the measured and indicated classification for a pre-feasibility study. The receipt of this permit is a major milestone for the project."
With drilling completed, Tinka's geologists are now undertaking a review of other significant mineral occurrences at the Ayawilca project and a district-wide exploration programme has commenced to complete mapping and soil sampling of exploration targets within 1-5km of Ayawilca.
Shares in Tinka Resources are trading at C13c, valuing the company at $33 million.