What's Happening?
Tinka Resources is reevaluating its Colquipucro silver deposit in Peru due to silver prices reaching record highs. The company plans to reinterpret the geology of the deposit and review metallurgy and silver recovery assumptions. CEO Graham Carman notes that the deposit has been overlooked since the last drilling in 2015. With silver prices more than tripling, Tinka sees this as an opportune time for reassessment. The Colquipucro deposit includes 8,700 meters of drilling data across 49 drill holes, with resources contained in high-grade lenses. This reassessment follows Tinka's recent drilling at the Silvia Gold-Copper Project in Peru.
Why It's Important?
The reassessment of the Colquipucro deposit is significant as it could lead to increased silver production,
capitalizing on the current high market prices. Silver's inclusion on the US critical minerals list and its industrial demand support this strategic move. For Tinka Resources, this could enhance its portfolio and attract investor interest. The potential increase in silver output may also impact the global silver market, influencing prices and supply dynamics.
What's Next?
Tinka Resources will continue its reassessment of the Colquipucro deposit, with potential drilling and exploration activities to follow. The company is also awaiting assay results from its recent drilling at the Silvia Gold-Copper Project. These developments could lead to further exploration and investment in Peru's mining sector. Stakeholders will be watching for updates on resource estimates and production plans, which could affect market perceptions and Tinka's stock performance.
