Vancouver-based Tinka Resources (TSX-V:TK) has advanced to the final step of drilling approvals, anticipating it will have the permit to drill the Silvia Gold-Copper Project in Peru in hand in a matter of weeks.
CEO Dr Graham Carman says Tinka has made significant progress toward securing the drilling permits for the Silvia NW target.
“Surface ownership rights covering the key Silvia NW target were formally issued to the local community in Q3 2024,” he says.
“Tinka concluded successful negotiations for access with the community in Q4 2024.
“A DIA drilling permit allowing up to 40 drill platforms was approved by the Peruvian authorities also in Q4 2024, and a request to initiate activities was filed with the authorities in Q1 2025.
“The company is now awaiting the final step of the drilling permit approval, which is expected to be granted within weeks.”
The Silvia Project, which was bought from BHP (ASX:BHP) in 2021, is located 30km from Tinka’s flagship Ayawilca Zinc-Silver-Tin Project in Peru – considered one of the largest undeveloped zinc resources in the Americas.
Silvia also sits 100km south of the Antamina copper mine – one of the largest copper-zinc mines in the world owned jointly by Teck Resources (NYSE:TECK), BHP, Glencore (LSE:GLEN) and Mitsubishi Corporation (TYO:8058) – in the central Andes of Peru.
Tinka says Silvia is believed to be prospective for gold-copper mineralisation of a similar skarn-porphyry style to Antamina.
Silvia NW is the most advanced of the exploration targets identified on the 10,900-hectare Silvia mining claim package and has not been drill tested previously.
Three areas of copper-gold mineralisation have been identified and sampled at Silvia NW (known as Areas A, B and C) along a 3.5km northeast-southwest trend.
Over 600 channel samples were assayed for gold, copper and pathfinder elements with individual samples grading up to 22 grams per tonne gold and 12% copper.
“Area A target at Silvia NW, which spans several hectares of outcropping mineralisation – approximately 500m by 150m including areas of cover – has returned multiple high-grade samples with an average grade of 0.5g/t gold and 0.5% copper from 261 channel samples,” Carmen says.
“The strong positive relationship between gold and copper is highly encouraging, as this increases the overall grade of the mineralisation and further enhances Silvia’s potential.”
Tinka, which has a market capitalisation of C$16.4 million ($18.5 million), is an exploration and development company focused on advancing its Ayawilca Project, which is at the Preliminary Economic Assessment stage
The Zinc Zone resource stands at 28.3 million tonnes @ 5.82% zinc, 16.4g/t silver, 0.2% lead and 91g/t indium in the indicated category and 31.2 million tonnes @ 4.21% zinc, 14.5g/t silver, 0.2% lead and 45g/t indium in the inferred category.
Meanwhile, the Tin Zone has an indicated resource of 1.4 million tonnes @ 0.72% tin and inferred resource of 12.7 million tonnes @ 0.76% tin.
Write to Angela East at Mining.com.au
Images: Tinka Resources
