Tinka Resources (TSX-V:TK) is set to initiate a drilling program at the Silvia Gold-Copper Project in central Peru, after receiving a formal resolution from the Ministry of Energy and Mines.
A 1,500m diamond drilling program is planned to begin in Q4 2025, subject to appropriate funding. Further details on the program are expected in due course.
The company notes there are several potential drill targets covering several kilometres of strike, including Area A which has mineralised outcrops with gold and copper geochemistry, up to 22 grams per tonne gold and 12% copper.
Tinka says Area A should be drill tested first.
CEO Graham Carman says this is an “important” milestone for Silvia as the company can move the project forward without delay, subject to adequate financing.
“Silvia provides Tinka the opportunity to move into gold and copper exploration whilst we continue with the strategic review at our flagship Ayawilca zinc-tin project,” Carman says.
“The Silvia northwest target, which covers three known areas of mineralisation along a four km trend, has been significantly upgraded by Tinka since the acquisition from BHP (ASX:BHP) in 2021.”
Silvia has never been drill tested and consists of 10.906 hectares of granted expiration concessions immediately north of the Raura zinc-copper-silver mine.
Tinka Resources is an explorer and developer focused on its Ayawilca and Silvia assets.
Gold prices rose to around US$3,340 per ounce on Tuesday as investors weighed US-led efforts to end the war in Ukraine, as reported by Trading Economics.
Meanwhile, copper futures hovered around US$4,48 per pound yesterday (18 August), remaining in a sideways trading range as investors continued to assess supply-side disruptions.
Write to Aaliyah Rogan at Mining.com.au
Images: Tinka Resources
