Tinka Provides Exploration Update on Huwaymidan Gold Project in Saudi Arabia Including Completion of 3,400-Metre RC Drill Program
Tinka Pivots to Saudi Gold Exploration While Awaiting High-Stakes Peru Assay Results
The news release dated January 12, 2026, provides an exploration update on the Huwaymidan Gold Project in Saudi Arabia. Tinka has completed a 3,400-metre reconnaissance Reverse Circulation (RC) drill program consisting of 46 holes. The program targeted a 10-kilometre orogenic gold trend identified through geological mapping and magnetic surveys. While assay results for the drilling are pending (expected late Q1 2026), the company reported high-grade surface rock chip samples, including a peak of 30.5 g/t gold at the "Ibriz" prospect. This project is currently 94% funded by a Saudi partner, with Tinka holding a 5% carried interest for the first two years.
The impact of the most recent news is moderately positive but remains "Routine" as it lacks the definitive assay data required to re-rate the company. - Strategic Diversification: The news confirms Tinka is successfully executing its strategy to diversify outside of Peru into Saudi Arabia's emerging mining sector. - Low Financial Risk: The Saudi exploration is "carried," meaning Tinka is not burning its own cash for this specific 3,400m program, preserving the C$14.2M raised in October 2025 for its Peruvian assets. - Exploration Speculation: The surface samples (up to 30.5 g/t Au) are high-grade but, as the company notes, are "selective" and do not necessarily reflect the grade of the mineralization at depth. - Pending Catalyst: The true materiality of this project will not be known until late Q1 2026 when RC drill assays are released. Currently, the market is pricing in the potential for a discovery rather than a confirmed resource.
Tinka Resources is a junior explorer traditionally focused on Peru. - Flagship Project: Ayawilca (Peru). It is one of the largest undeveloped zinc-silver-tin deposits in the world. A 2024 PEA showed strong economics, but the project requires high capital expenditure. - Focus Shift: Due to the "Strategic Review" initiated in early 2025, the company has pivoted focus toward the Silvia Gold-Copper project (Peru) and the Huwaymidan Gold project (Saudi Arabia) to find higher-margin, lower-CAPEX opportunities.