Kileba resource uplift 16.5% to 155,600t copper
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
PERTH, Western Australia, Aug. 28, 2012 /CNW/ - Tiger Resources Limited (ASX/TSX: TGS, "Tiger") is pleased to announce an upgrade to the resource and a re-classification of Inferred Mineral Resources to Indicated Mineral Resources status at Kileba at the Company's Kipoi Copper Project, in the Democratic Republic of Congo (DRC). The upgrade to the Indicated Mineral Resource is part of the Definitive Feasibility Study (DFS) being conducted for the SXEW development at Kipoi.
- Maiden Indicated Mineral Resource at Kileba of 128,200t copper
- Inferred Resource of 27,400t copper
- Total contained copper in the Indicated and Inferred status has increased by 16.5% to 155,600t from 133,000t
- Kileba resource extension drilling program is complete assays pending
Tiger has updated the Kileba resource estimate on completion of the 64 hole drilling programme that was designed to increase confidence in the existing JORC-standard Inferred Mineral Resources.
A maiden Indicated Mineral Resource has been declared of 128,200t of copper, primarily a result of re-classification from Inferred to Indicated status and a 16.5% increase in the total contained copper at Kileba to 155,600t. Cube Consulting Pty Ltd completed the resource estimation and advised that the Indicated Mineral Resources developed at Kileba have been classified according to recognised industry standards and are reported in accordance with the JORC Code 2004 guidelines.
A further 29 hole diamond drilling (DD) program totalling 2,824.5m was completed at Kileba in July with assay results pending. This program targeted mineralisation that lies outside the boundaries of the current Kileba ore body envelope where the mineralisation is open along strike and at depth. A further resource update will be generated once the assay results are provided by the independent laboratory in South Africa.
Table 1: Kileba Mineral Resource estimated by Cube Consulting Pty Ltd
|Grade Tonnage Reported above a Cut off of 0.5% Copper|
|Classification||Category||Tonnes (MT)||Cu Grade (%)||Co Grade (%)||Copper (000'T)||Cobalt (000'T)|
Figure 2: Kipoi Project Geology and Mineral Resources
Full details are available in a release that has been filed with SEDAR and is posted on the Company's website at www.tigerresources.com.au
ESTIMATION AND REPORTING OF KILEBA MINERAL RESOURCES
- The updated Mineral Resource estimate for the Kileba copper and cobalt deposit was completed in August 2012 by Cube Consulting Pty Ltd on behalf of Tiger Resources Ltd.
- Mineralisation at the Kileba deposit is hosted within Upper Roan sedimentary rocks. It occurs as stratiform, layer-parallel and structurally remobilised mineralisation in fault breccias and veins. Sulphide copper mineralisation occurs predominantly in deformed siltstones but also extends into the adjacent dolomites and volcanic rocks. The bulk of mineralisation occurs as broad zones of malachite (supergene copper carbonate mineral) which is best developed adjacent to fractured and brecciated siltstones. Weathering of primary mineralisation has led to lateral dispersion and the formation of coherent zone of supergene mineralisation.
- The drill database used in the Mineral Resource estimate is based on 102 diamond drill holes, 40 Resource Definition Reverse Circulation (RC) holes. Sample recovery is considered to have been to industry standard for the lithologies under consideration for both RC and diamond cored drilling.
- Resource definition drilling was carried out along northeast - southwest fences ranging typically from 25 x 25 metre to 50 x 50 metre drilling pattern.
- While Cube provided support during the drilling and wireframe development Cube has accepted the database from Tiger as validated.
- Wireframes were generated on cross sectional interpretations based on available geology and assay data available. A lower cut off of approximately 0.3% Cu was used to define mineralised envelopes.
- Data was domained by host lithologies and weathering classification.
- Variography was used to characterise the spatial continuity within the mineralised domains and to determine appropriate estimation inputs to the interpolation process.
- The deposit was interpolated using Ordinary Kriging of 5 metre downhole composited drilling data into a three dimensional block model of panel size 20m x 20m x 5m. A further process of Local Uniform Conditioning (LUC) was applied to produce a model suitable for reporting above grade cut-offs and for mine planning based on an SMU size of 5m x 5m x 2.5m and a selection of grade cut-offs. The LUC has also incorporated an Information Effect correction to allow for some effect of incomplete information on the local recoverable model result.
- The Mineral Resource has been classified and reported in accordance with the JORC Code 2004 guidelines. Resource classification is based on confidence in the geological domaining, drill spacing and geostatistical measures.
- The current resource model provide robust global estimates of the in situ Cu and Co mineralisation in the Kileba deposit.
The results will be used in support of the DFS being conducted for a Stage 2 SXEW facility at Kipoi.
The Kipoi Project covers an area of 55 square km and is located 75km north‐north‐west of the city of Lubumbashi in the Katanga Province of the DRC. The project contains a 12km sequence of mineralised Roan sediments that host at least five known deposits: Kipoi Central, Kipoi North, Kileba, Judeira and Kaminafitwe.
The Company has reported JORC-compliant resources at three of the deposits: Kipoi Central, Kipoi North and Kileba. The principal deposit is Kipoi Central, which contains a zone of high grade copper mineralisation within a much larger, lower grade global resource.
The Company has adopted a staged development approach at the Kipoi Project. The high grade zone of mineralisation at Kipoi Central is being exploited during the Stage 1 development. During the three-year operation of Stage 1 900,000tpa of 7% Cu is planned to be processed through the HMS plant with a recovery rate of 61%, to produce the equivalent of approximately 35,000tpa of copper.
The Information in this report that relates to Ore Reserves at Kipoi Central is based on a Reserve estimate compiled by Mr Quinton de Klerk who is a Fellow of the Australian Institute of Mining and Metallurgy ("AusIMM"). Mr de Klerk is a Director and full time employee of Cube Consulting Pty Ltd. Mr de Klerk has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (the "JORC Code") and to qualify as a "Qualified Person" under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr de Klerk consents to the inclusion in this report of the matters based on their information in the form and context in which it appears.
The Information in this report that relates to Mineral Resources at Kipoi Central, Kipoi North, Kileba and Sase Central is based on resource estimates compiled by Mr Mark Zammit and Mr Chris Black, both of whom are members of the Australian Institute of Geoscientists ("AIG"). Mr Zammit and Mr Black are full time employees of Cube Consulting Pty Ltd. Mr Zammit and Mr Black each has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (the "JORC Code") and to qualify as a "Qualified Person" under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr Zammit and Mr Black consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.
The information in this report that relates to Exploration Results is based on information compiled by Mr. Brad Marwood, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Marwood is a Director and full-time employee of the Company.
Mr Marwood has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Marwood consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Caution Regarding Forward Looking Statements and Forward Looking Information: This report contains forward looking statements and forward looking information, which are based on assumptions and judgments of management regarding future events and results. Such forward-looking statements and forward looking information, including but not limited to those with respect to the development of a Stage 1 mining, HMS and spiral system operation and a Stage 2 SXEW plant at Kipoi Central, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the actual market prices of copper, cobalt and silver, the actual results of current exploration, the availability of debt financing, the volatility in global financial markets, the actual results of future mining, processing and development activities and changes in project parameters as plans continue to be evaluated.
SOURCE: Tiger Resources LimitedFor further information:
Tel: (+61 8) 6188 2000
Chief Financial Officer
Tel: (+61 8) 6188 2000
Tel: (+61 0)420 582 887