Cassiterite tin mineralisation was intersected in eight drill holes that were part of a recently completed 7,600m programme. The tin mineralisation is believed to be hosted by multiple, flat-dipping lenses, with each lens up to 12m thick with horizontal dimensions of about 200m.
Highlights included 12m grading 3.05% tin, including 2m grading 5.43% tin, which was intercepted 40m above a zinc intercept of 4.1m grading 17.7% zinc.
"The new discovery of tin at South Ayawilca is potentially very important as a complement to the zinc deposit, as it is the first time we have encountered such high grades of tin immediately adjacent to one of the best zones of zinc at the property, an area which would likely be prioritised in the early years of a future mining operation," said Tinka Resources president and CEO Dr Graham Carman.
Tinka said it was prioritising mineralogical test work for the tin mineralisation, including gravitational separation of the cassiterite which had a very high density compared with most other minerals.
The company is also advancing Ayawilca towards a mineral resource update and an updated preliminary economic assessment for release in the September quarter.
Shares in Tinka Resources are trading at C23c, valuing the company at $80 million.