Tinka Resources (TSX-V:TK) has launched an updated preliminary economic assessment (PEA) examining a silver-first development strategy for its Ayawilca Zinc-Silver-Tin Project in Peru.
The study will assess an open-pit silver operation at Colquipucro before underground zinc-silver-lead mining at Ayawilca. Results are expected by early 2027.
Unlike the 2024 PEA, the update will include Colquipucro, about 2km north of Ayawilca, and examine whether staging the two operations and sharing infrastructure could reduce upfront capital costs.
SRK Consulting will lead the study, while SLR Consulting will update mineral resource estimates (MREs) for both deposits.
Colquipucro’s 2016 MRE comprises 7.4 million tonnes (Mt) of indicated resources @ 60 grams per tonne silver (Ag), containing 14.3 million ounces (Moz). It also includes 8.5Mt of inferred resources @ 48g/t Ag, containing 13.2Moz.
Much of its higher-grade silver mineralisation lies near surface, supporting Tinka’s evaluation of an open-pit scenario.
President and CEO Graham Carman says the study could change the development pathway for Ayawilca.
“The PEA update will evaluate whether a Colquipucro-first development scenario could reduce initial capital requirements for the Ayawilca zinc-silver sulphide operation,” Carman says.
Following a 2025 relogging program, Tinka has reinterpreted the geological controls at Ayawilca, identifying three mineralisation domains at West and South Ayawilca, compared with two previously.
Drilling targets silver-rich veins
Separately, the company says it is preparing a fully funded 5,000m diamond drilling program targeting shallow silver-rich veins at West Ayawilca. Work is expected to begin late in the December quarter, subject to finalising community agreements.
Contractor selection is expected this month, with further drilling planned in 2027 to test zinc-rich areas at East Ayawilca and the tin zone. Results from the upcoming program will not form part of the PEA update.
Tinka Resources is a Canadian explorer and developer focused on base and precious metals in Peru. It also owns the Silvia Copper-Gold Project, where earlier surveys identified two untested geophysical targets.
Write to France Pinzon at Mining.com.au
Main image: Tinka Resources
