Resource World Magazine

A P R I L / M A Y 2 0 1 6 www.resourceworld.com 61 p r o F e s s i o n a l d i r e c t o r Y WE PROMISE AND WE DELIVER GOLD, COPPER & TITANIUM PROJECTS WITH DRILL INDICATED RESERVES FOR INITIAL PUBLIC OFFERING Fayz Yacoub Professional Geologist Tel: (604) 831-0424 www.ontrackexploration.com SOUTH AMERICA continued from page 11 copper and gold plays in Andahuaylas- Yauri province, southern Peru, and a polymetallic project in the northwest. On January 27, Panoro announced a non-binding streaming deal with silver Wheaton Corp. [SLW-TSX; SLW-NYSE]. Silver Wheaton will pay Panoro up-front cash payments that total $140 million for 25% of payable gold production and 100% of payable silver production from the Cotabambas Project in Peru. Silver Wheaton will also make produc- tion payments to Panoro based on the lesser of the market price and $450 per pay- able ounce of gold and $5.90 per payable ounce of silver delivered for Cotabambas' life of mine. As part of the deal, Panoro will receive $14 million up to nine years, which it will use to fund project-related corporate expenses. The balance of the $140 million will be payable in instalments during construction of Cotabambas. sandspring Resources Ltd. [SSP- TSXV] is advancing its 100%-owned, 4.1 million-ounce Toroparu gold project in Guyana toward a definitive feasibility study. A prefeasibility study completed in 2013 envisaged an open pit mining operation that would produce in excess of 200,000 ounces of gold per year over an initial 16-year mine life. The Toroparu Project also offers signifi- cant further exploration for both gold and copper. The company recently completed a 3,700-metre drilling program on the Sona Hill prospect 5 km southeast of the main Toroparu deposit. Drill results were encour- aging with highlights that included 23.41 g/t gold over 5.9 metres, 8.45 g/t gold over 4.0 metres and 6.60 g/t gold over 4.5 metres. A 100 km 2 geochemical survey on unex- plored concessions was also completed on the northwest part of the property. tinka Resources Ltd. [TK-TSXV; TKRFF-OTC; TLD-FSE] is advancing the Ayawilca-Colquipucro Project in the silver-lead-zinc belt of Central Peru. The Ayawilca deposit has an estimated inferred resource containing 1.7 billion lbs zinc, 909,000 tonnes indium, 5.8 million ounces silver, and 55 million lbs lead. The Colquipucro deposit contains an estimated mineral resource comprising 14.3 million ounces silver indicated and 13.2 million oz silver inferred. The company unveiled results of a drill campaign at Ayawilca during H2 2015 and Q1 2016. Highlights included hole A15-40, which had an intersect of 1.23% tin, 0.16% copper and 15 g/t silver from 328-378.50 metres. Hole A15-53 returned 5.5% zinc, 92 g/t indium and 11 g/t silver from 344.20-360.7 metres. Tinka is now prioritizing new drill permit renewals and extensions for H2 2016. Speaking with Resource World at PDAC, senior geologist Luis Correa and Chairman of the advisory committee Michael Ballanger explained that Tinka's next targets are located in northeast and southeast zones, with up to 10,000 metres drilling expected. The drivers for the Ayawilca-Colquipurco will be its revised zinc resource and the ini- tial tin resource, Ballanger explained. "Plus we've got a really great exploration team." n

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