Tinka Resources Ltd. confirmed a significant extension of high-grade zinc to the south of resources at its Ayawilca project in Peru, a relatively recent zinc discovery.
Earlier this year, Tinka started drilling to the south of Ayawilca inferred zinc resources, which stand at 18.8 million tonnes at 8.2% zinc equivalent, comprising 5.9% zinc, 0.2% lead, 15 g/t of silver and 74 g/t of indium.
The company hit a couple of notable intercepts, including 51.9 meters at 10.1% zinc, 62 g/t of silver and 233 g/t of indium in early April, about 400 meters away from resources.
Tinka followed up with more drilling to flesh out the extension, and it now says that the deposit looks to continue about 400 meters south of Ayawilca resources and possibly up to 500 meters.
The company said the latest drilling hit 47.7 meters at 11.3% zinc, 18 g/t silver and 313 g/t indium, along with other, significantly more narrow intercepts, that show the deposit in the southern area connects with the main resource up to about 400 meters away. Tin assays are pending.
Drilling continues, Tinka said, with two rigs targeting the resource area and the newly discovered southern zone. A third drill rig is hitting targets about 700 meters northeast of resources.
A spokesperson could not be immediately reached to comment on ongoing exploration.