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Tinka Discovers High Grade Copper and Gold at Silvia Project – Surface Samples Up to 12.3% Copper and 18.6 G/T Gold

VANCOUVER, BC / ACCESSWIRE / October 7, 2021 / Tinka Resources Limited ("Tinka" or the "Company") (TSXV:TK)(BVL:TK)(OTCQB:TKRFF) is pleased to announce…

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VANCOUVER, BC / ACCESSWIRE / October 7, 2021 / Tinka Resources Limited (“Tinka” or the “Company“) (TSXV:TK)(BVL:TK)(OTCQB:TKRFF) is pleased to announce initial high grade copper-gold surface sampling results from the Silvia NW target, one of several prospective areas within the Company’s 100%-owned Silvia Project which was recently acquired (see news release dated July 12, 2021). Silvia NW is located in the Huanuco region of central Peru, 30 km from the Company’s flagship Ayawilca project and 90 km along strike south of the Antamina copper mine (see Figure 1).

Silvia NW is prospective for copper-gold skarn mineralization along a 3 km x 1 km trend that has seen minimal exploration and no drilling. Tinka’s detailed sampling at “Area A”, one of three mineralized zones at Silvia NW (see Figure 2), has discovered high-grade copper-gold mineralization associated with apparently continuous outcrops of skarn covering an area of approximately 400 metres by 100 metres, open in all directions. Widespread scree intermittently covers the outcrops and has limited the lateral extent of this early sampling (see Figures 3, 4 & 5).

Highlights of sampling from Area A at Silvia NW:

  • A total of 108 trench and rock chip samples were collected over a 400 m x 100 m area of semi-continuous skarn:
    • Average grade of all samples is 0.79% copper & 0.60 g/t gold (1.24% CuEQ*);
    • Copper ranges between 0.01% to 12.31% Cu, and gold ranges between 0.01 g/t to 18.60 g/t Au;
  • There is a strong positive correlation between copper and gold;
  • Copper occurs as chalcopyrite with chalcocite and covellite (and minor copper oxides) in green garnet-magnetite skarn associated with quartz feldspar porphyry (QFP) dikes – mineralization occurs in both limestone (“exoskarn”) and QFP (“endoskarn”);
  • Skarn mineralization is open in all directions under shallow scree cover;
  • Rock samples are representative, non-selective, trench or continuous rock chip samples (1-2m wide) covering various rock types including skarn, QFP and limestone;
  • Exploration is continuing at Area A, B and C along the 3 km northeast-southwest trend.

Dr. Graham Carman, Tinka’s President and CEO, stated: “We are very excited to announce the discovery of high grade copper-gold mineralization in our initial sampling at Silvia NW, located in an underexplored Andean region of central Peru close to our flagship Ayawilca project. We believe that these initial sampling results, covering a surface area of approximately 400 m x 100 m, show the outstanding potential for a large and high-grade skarn deposit that has previously not been recognized. The high levels of gold associated with the copper mineralization is a big positive, as gold significantly increases the potential value of the mineralization. The skarn remains open in all directions.”

“We believe that we could be seeing the early indications of a high potential, high quality copper-gold prospect at Silvia NW. Exploration is continuing at target Areas B and C with mapping and detailed sampling along the 3 km trend, where additional skarn bodies have been reported in both areas.”

“In addition to our current exploration activities, Tinka continues to advance its outstanding Ayawilca zinc-silver project which we believe is one of the best undeveloped zinc projects in the Americas. A Mineral Resource estimation update was recently released (see news release dated September 27, 2021). A Preliminary Economic Assessment (PEA) for the Ayawilca deposit will be disclosed within weeks.”

* Copper Equivalent (CuEQ) is calculated assuming 100% recovery of copper and gold using a Gold Conversion Factor of 0.751, calculated from a nominal copper price of US$3.30/lb and a gold price of US$1,700/oz.

Geology and Sampling Results at Area A

Tinka’s exploration activities at Silvia NW have concentrated to date on detailed mapping and sampling of skarns at Area A, located at the southwestern end of the target area (Figure 2). The skarns are hosted by the Cretaceous Jumasha Formation, a thick (> 2km) sequence of limestones that form a major part of the fold and thrust belt in central Peru and host to several major skarn deposits in Peru (including Antamina). The limestone at Area A has been intruded by quartz feldspar porphyry dikes and sills (QFP) which appear to control the copper-gold skarn mineralization.

Skarn occurs both in the limestone (as exoskarn) and in QFP (as endoskarn) over an apparently continuous area of approximately 400 metres x 100 metres (see Figure 3). There is widespread scree cover in-between outcrops of skarn limiting outcrop (Figures 4 & 5). Tinka geologists believe that the skarn mineralization could continue over a larger area beneath the scree on the lower slopes and floor of the valley. On the edges of the outcropping skarn zones, limestones show minor to weak skarn development and are weakly mineralized or unmineralized. Limestone outside of the skarn zones have developed localised hornfels and minor skarn veining.

The skarns are dominated by green garnets with or without magnetite and other calc-silicates (Figure 6). Sulphides in the outcrops are common (typically partially oxidised) and dominated by chalcopyrite and pyrite with minor covellite, chalcocite, and malachite.

Table 1 below highlights the copper-gold trench sampling results presented in this release (also highlighted in Figure 3) along with selected other metals. Table 2 is a summary of the surface samples by rock type. Zinc, along with silver, is anomalous in many of the samples while arsenic is not significant.

Table 1. Highlights of surface sampling at Area A presented in this release

Sample type

No. Samples

Length m

Cu %

Au g/t

Ag g/t

Zn %

As ppm

CuEQ %*

Trench & Chip

21

30 X 10 m area

1.56

1.12

14.20

0.50

189.0

2.40

including

1

1.00

12.31

18.60

82.00

0.16

870.0

26.28

including

1

1.00

1.87

1.24

12.20

0.34

621.0

2.80

Trench

1

2.00

3.79

2.49

31.50

3.97

69.6

5.66

Trench

3.50

0.31

0.19

2.35

3.67

60.6

0.45

Trench

3

6.00

1.88

0.38

7.13

0.07

30.6

2.16

Trench

1

1.00

0.55

0.78

2.90

0.70

95.8

1.14

Trench

17

34.00

0.42

0.19

2.44

0.20

23.2

0.56

including

2

4.00

1.04

0.48

2.55

0.03

36.8

1.40

Trench

8

16.00

0.50

0.28

6.76

0.27

50.4

0.70

including

1

2.00

0.90

1.43

22.20

0.25

50.6

1.98

Trench

1

0.60

1.25

0.45

6.90

2.98

73.0

1.59

Trench

1

1.00

1.21

2.93

8.50

3.73

31.0

3.41

Chip

1

0.50

0.88

0.49

5.30

0.16

1.5

1.25

Trench

1

2.00

1.30

0.57

7.50

5.85

37.0

1.73

Chip

1

0.70

1.49

10.80

11.00

5.31

60.8

9.60

* Copper Equivalent (CuEQ) is calculated assuming 100% recovery of copper and gold using a Gold Conversion Factor of 0.751, calculated from a nominal copper price of US$3.30/lb and a gold price of US$1,700/oz.

Table 2. Summary of sampling at Area A by rock type

Average by Rock Type

No. Samples

Cu %

Au g/t

Ag g/t

Zn %

As ppm

CuEQ %

Area A
Endo Skarn

66

1.09

0.83

8.73

0.79

83.18

1.71

Exo Skarn

16

0.81

0.59

5.50

1.31

78.48

1.25

Limestone

7

0.01

0.01

0.20

0.07

19.74

0.02

QFP

19

0.03

0.02

0.40

0.02

13.07

0.05

TOTAL Area A

108

0.79

0.60

6.20

0.69

66.00

1.24

* Copper Equivalent (CuEQ) is calculated assuming 100% recovery of copper and gold using a Gold Conversion Factor of 0.751, calculated from a nominal copper price of US$3.30/lb and a gold price of US$1,700/oz.

Notes on sampling and assaying

Trenches were dug up to a depth of 1 metre, where possible, across areas of outcrop (partially weathered) to test the grade of skarn and adjacent limestones and intrusions. Trench samples are continuous samples collected with hammer and chisel over 1 to 2 metre intervals. In areas of sporadic outcrop, samples are taken as semi-continuous rock chips. Tinka believes that the samples are representative of the outcrop and non-selective. Samples were bagged and labelled in the field. Samples were sent to Certimin laboratory in Lima where samples were dried, crushed to 90% passing 2mm, then 1 kg pulverized to 85% passing 75 microns. Gold was analysed by fire assay on 30 g (method G0108) and multi-element analysis by ICP using multi-acid digestion (method G0176). Gold assays above 10 g/t Au were re-assayed by a high-grade fire assay method and a gravimetric finish (method G0014). Copper assays over 1% Cu were re-assayed by atomic absorption (method G0039). Standards and blanks were not inserted by Tinka but were inserted at the laboratory.

Figure 1 – Location of Silvia NW target area with selected mining claims in central Peru

Figure 2 – Simplified geological map of Silvia NW highlighting Areas A, B & C

Figure 3 – Highlights of copper-gold trenching and rock chip results at Area A

Figure 4 – Photo of Area A highlighting copper-gold skarn outcrops (darker shade) and scree, viewing SE

Figure 5 – Photo of Area A highlighting copper-gold skarn outcrops (darker shade) and scree, viewing South

Figure 6 – Photograph of Exoskarn from Area A. Green garnets are pervasive throughout the rock, while copper is observed as turquoise-coloured malachite replacing chalcopyrite

The Qualified Person, Dr. Graham Carman, Tinka’s President and CEO, and a Fellow of the Australasian Institute of Mining and Metallurgy, has reviewed and verified the technical contents of this release.

On behalf of the Board,
Graham Carman
Dr. Graham Carman, President & CEO

Further Information:
www.tinkaresources.com

Mariana Bermudez
1.604.685.9316
[email protected]

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About Tinka Resources Limited

Tinka is an exploration and development company with its flagship property being the 100%-owned Ayawilca zinc-silver-tin project in central Peru. The Ayawilca Zinc Zone deposit has an estimated Indicated Mineral Resource of 19.0 Mt grading 7.15% Zn, 16.8 g/t Ag & 0.2% Pb and an Inferred mineral resource of 47.9 Mt grading 5.4% Zn, 20.0 g/t Ag & 0.4% Pb (dated August 30, 2021 – see news release dated September 27, 2021). The Ayawilca Tin Zone has an estimated Inferred Mineral Resource of 8.4 Mt grading 1.02% Sn (also dated August 30, 2021). An NI 43-101 report will be released in November 2021.

Tinka holds 46,000 hectares of mining claims in central Peru, one of the largest holders of mining claims in the belt. Tinka is actively exploring for copper-gold skarn mineral deposits at its 100%-owned Silvia project.

Forward-Looking Statements: Certain information in this news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively “forward-looking statements”). All statements, other than statements of historical fact are forward-looking statements. Forward-looking statements are based on the beliefs and expectations of Tinka as well as assumptions made by and information currently available to Tinka’s management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations: timing of planned work programs and results varying from expectations; delay in obtaining results; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; equipment failure, unexpected geological conditions; imprecision in resource estimates or metal recoveries; success of future development initiatives; competition and operating performance; environmental and safety risks; the Company’s expectations regarding the Ayawilca Project PEA; the political environment in which the Company operates continuing to support the development and operation of mining projects; risks related to negative publicity with respect to the Company or the mining industry in general; the threat associated with outbreaks of viruses and infectious diseases, including the novel COVID-19 virus; delays in obtaining or failure to obtain necessary permits and approvals from local authorities; community agreements and relations; and, other development and operating risks. 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. Although Tinka believes that assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, Tinka disclaims any intent or obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release

SOURCE: Tinka Resources Limited

View source version on accesswire.com:
https://www.accesswire.com/667120/Tinka-Discovers-High-Grade-Copper-and-Gold-at-Silvia-Project–Surface-Samples-Up-to-123-Copper-and-186-GT-Gold





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Kiplin Metals Looks to Expand Uranium Project Portfolio Athabasca, Saskatchewan, Canada

 

Vancouver, British Columbia – TheNewswire – October 25th, 2021  – Kiplin Metals Inc. (the “Company”) (TSXV:KIP) (Frankfurt: 17G1) announces…

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Vancouver, British Columbia – TheNewswire – October 25th, 2021  – Kiplin Metals Inc. (the “Company”) (TSXV:KIP) (Frankfurt: 17G1) announces that its board of directors has commenced a strategic review of several uranium projects in Athabasca, Saskatchewan, Canada with the plan to expand the Company’s project portfolio.

Peter Born, Director of the Company commented; “after considerable consultation with our strategic advisors, the board has determined that, given the deep technical knowledge of our team, combined with the global initiative to transition the world’s energy needs away from fossil fuels, the company has initiated a strategic review of several uranium projects in Athabasca, Saskatchewan.  The company’s technical team has extension experience with uranium exploration and we are confident the addition will bring significant value to Kiplin Metals shareholders.”

About Kiplin Metals

Kiplin Metals is an early-stage exploration and development mining company.  The Company’s management understands that the greatest value creation for shareholders is through the discovery, and development of mineral resources, therefore the company focuses on project that can provide such impact.  Kiplin Metals has the rights to two highly perspective minerals exploration assets in Canada, a region in the world known for its resources, collaborative regulatory structure and stable economic and political environment.  

The Exxeter Gold Project covers an area of 715ha located in Val d’Or Quebec, one of the premier gold camps in the world which produced over 113.4M oz Au by the end of 2019. The project covers 3.8km of the Cadillac Tectonic zone, which is the principal geologic structure responsible for cold mineralization in the Val d’Or.

The Lac Rochester Copper Project is located on the eastern border of the Val d’Or mining camp, 50km southeast of the city of Val D’Or, and 14km south of the Company’s flagship property, the Exxeter Gold Project. Past exploration of the Lac Rochester Copper Project has identified multiple high copper and iron values, concurrent with a large, northeast trending magnetic anomaly.

For further information, contact the Company at 604-622-1199.

On behalf of the Board of Directors,

“Peter Born”

Director

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

Copyright (c) 2021 TheNewswire – All rights reserved.



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Klondike Gold Closes First Tranche Raising $2,242,851

NEW YORK, NY / ACCESSWIRE / October 25, 2021 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTC PINK:KDKGF) ("Klondike Gold" or the "Company") is pleased to…

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NEW YORK, NY / ACCESSWIRE / October 25, 2021 / Klondike Gold Corp. (TSXV:KG)(FRA:LBDP)(OTC PINK:KDKGF) (“Klondike Gold” or the “Company”) is pleased to announce that further to its news release of September 30, 2021, the Company has closed the first tranche (the “First Tranche”) of its non-brokered private placement financing, raising $2,242,851.25 of which $1,935,000 is flow through funds. The Company anticipates to close the balance of the financing in the coming weeks.

In closing the First Tranche, the Company issued 9,675,000 flow-through units at the price of $0.20 per unit, comprising of 9,675,000 common shares which are “flow through” shares for Canadian income tax purposes and 4,837,500 warrants. The Company further issued 1,759,150 non-flow-through units at a price of $0.175 per unit, comprising of 1,759,150 common shares and 879,575 warrants.

All warrants issued in the First Tranche of the financing are exercisable at a price of $0.25 per share until October 22, 2023.

All securities issued in connection with the First Tranche are subject to a four month and one day statutory hold period expiring on February 23, 2022, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

The Company intends to use the proceeds from the financing to continue exploration and development of the Company’s Yukon properties, as well as for general working capital.

ABOUT KLONDIKE GOLD CORP.

Klondike Gold Corp. is a Vancouver based gold exploration company advancing its 100%-owned Klondike District Gold Project located at Dawson City, Yukon Territory, one of the top mining jurisdictions in the world. The Klondike District Gold Project targets gold associated with district scale orogenic faults along the 55-kilometer length of the famous Klondike Goldfields placer district. To date, multi-kilometer gold mineralization has been identified at both the Lone Star Zone and Stander Zone, among other targets. The Company is focused on exploration and development of its 586 square kilometer property accessible by scheduled airline and government-maintained roads located on the outskirts of Dawson City, YT within the Tr’ondëk Hwëch’in First Nation traditional territory.

ON BEHALF OF KLONDIKE GOLD CORP.

“Peter Tallman”
President and CEO
(604) 609-6138
E-mail: [email protected]
Website: www.klondikegoldcorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

“This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Klondike in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Klondike’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Klondike disclaims any obligation to update or revise any forward-looking information or statements except as may be required.”

SOURCE: Klondike Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/669603/Klondike-Gold-Closes-First-Tranche-Raising-2242851





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Discovery Harbour Announces Results from First of Five Drill Holes on Caldera Gold Property, Nevada

Vancouver, British Columbia–(Newsfile Corp. – October 25, 2021) – Discovery Harbour Resources Corp. (TSXV: DHR) (OTC Pink: DCHRF) (FSE: 4GW) (the "Company"…

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Vancouver, British Columbia–(Newsfile Corp. – October 25, 2021) – Discovery Harbour Resources Corp. (TSXV: DHR) (OTC Pink: DCHRF) (FSE: 4GW) (the “Company” or “Discovery Harbour“) announces that the first of five drill holes results have been received from the Company’s Caldera drill program. Selected core from each of the five holes has been sent for analysis, with the next results expected in late November. The initial drill hole, CP21-01, has anomalous gold results up to 324 parts per billion gold over 1.4 metres. The drillhole intersected primarily volcanic tuffs, moderate to strong propylitic and argillic / sericitic alteration as well as multiple fault zones.

The Company completed drilling a total of slightly over 1900 metres, testing five low sulphidation epithermal gold targets (see map below) on the Caldera Property. Each hole was deeper than any previous drilling on Caldera and each site was selected to test the boiling zone, typically found at approximately 300+ metres below the paleo-surface, where precious metals are concentrated. The Caldera gold property lies in a fertile gold region at the intersection of the Walker Lane and Northumberland Gold Belts northwest of Tonopah, Nevada.

Caldera Gold Project, Completed Drill Holes

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/1559/100776_fc1ee2a344e1c8fb_001full.jpg.

Alan Morris, CPG, is the Qualified Person for Discovery Harbour as defined in NI 43-101 and has reviewed and approved the technical contents of this news release.

About Discovery Harbour
Discovery Harbour is focused on sourcing, exploring and developing mineral properties in mining-friendly jurisdictions. Its current primary focus is the drill program on Caldera, a low sulphidation epithermal gold project in Nevada. Additionally, Discovery Harbour has an agreement with Newcrest Mining Limited on its Fortuity 89 property in Nevada.

ON BEHALF OF THE BOARD OF DISCOVERY HARBOUR RESOURCES CORP.

“Mark Fields”

Mark Fields, B. Sc. (Geology), B.Comm.(Hon.)
President and Chief Executive Officer
Discovery Harbour Resources Corp.
Tel: (604) 681-3170
Fax: (604) 681-3552

Disclaimer for Forward-Looking Information
This news release contains forward‐looking information that involves various risks and uncertainties regarding future events. Such forward‐looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Discovery Harbour, such as statements that Discovery Harbour intends to pursue the Caldera Project. There are numerous risks and uncertainties that could cause actual results and Discovery Harbour’s plans and objectives to differ materially from those expressed in the forward‐looking information, including: (i) adverse market conditions; (ii) exploration results, (iii) permitting requirements or (iv) the financial position of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward‐looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Discovery Harbour does not intend to update these forward‐looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100776







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