G2 Goldfields to raise $31 million for Oko project in Guyana
AngloGold Ashanti is purchasing about 9 million shares and a single European investor is picking up the remainder.
Vancouver-based miner Tinka Resources (TSXV: TK) on Thursday released assay results for two recent holes drilled at its Ayawilca property, located in the zinc-lead-silver belt of central Peru, 200 kilometres northeast of Lima.
One hole returned 32.6% zinc, 20 g/t silver and 89 g/t indium over 5.7 metres, and 6.7% zinc, 11 g/t silver and 86 g/t indium over 34.7 metres. The second drill hole did not encounter mineralization.
Drilling is continuing at Ayawilca, with the aim of expanding and upgrading the high-grade Zinc Zone mineralization as defined in the company’s recent preliminary economic assessment (PEA).
Recent drilling has significantly advanced the geological model and understanding of the geometry of the high-grade zinc mineralization at the western end of South Ayawilca, the company says.
“The recently completed PEA shows that the project economics is sensitive to zinc grade, so expansions or upgrading of these higher-grade zinc resources will have a positive impact on the project economics in future studies,” Tinka CEO Dr. Graham Carman says.
