As I said yesterday, this is the news we have been waiting for! To the MOON! Winner winner chicken dinner.
VANCOUVER, Feb. 7, 2011 (Canada NewsWire via COMTEX) -- Tinka Resources Limited (the "Company"), (TSXV - TK; Frankfurt - TLD; Pinksheets -TKRFF).Â Mr. Andrew Carter, President, reports that the Peruvian authorities have granted the Company a modification to the existing 50 hole drill permit for the Colquipucro silver project, west-central Peru. The modification is for a further 8 holes to test the Ayawilca zone located 1.5 km south of the NI43-101 compliant 20.3 million ounce silver resource (see press release dated April 24, 2008) known as Zone 1. The Company is seeking a drill contractor to undertake this drill program as soon as possible.
The Ayawilca zone occurs in the same favorable sandstone unit that hosts the Zone 1 silver resource. The zone is located adjacent to a major transverse fault system, and the sandstone is intensely brecciated.Â An induced polarization (IP) geophysical survey, consisting of 14 line-kilometres, was completed at Ayawilca (see press release dated August 24, 2010) and was contiguous with the IP survey performed over Zone 1 in 2007 (see press release dated March 1, 2007). The inversion model of the IP data produced a target underlying the Ayawilca zone that trends east-southeast for 600 metres and plunges gently to the east.
Mr. Carter said: "The Company's new management team in Peru, which has been put in place over the last four weeks, has worked diligently to resolve all observations from the relevant governmental authorities in what has been a complicated and protracted process. We are pleased that this important step of obtaining the modified drill permit to test the Ayawilca zone has now been achieved as it will allow the Company to advance the project to the next level."
The Company's Qualified Person, John Nebocat (P.Eng.), has reviewed and approved the contents of this news release.
On behalf of the Board,
Andrew Carter, President & CEO
Forward Looking Statements This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management.Â Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events.Â 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.Â
Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.
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SOURCE: Tinka Resources Limited