Tiger Announces High Grade Results at Kileba
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
PERTH, Western Australia, Aug. 15, 2012 /CNW/ - Tiger Resources Limited (ASX/TSX:TGS, "Tiger") is pleased to announce more high-grade results from a diamond drilling (DD) programme at Kileba, a deposit within the boundaries of the Company's Kipoi Copper Project mining licence area (PE 533) in the Democratic Republic of Congo (DRC).
The results will be used to upgrade upgrade Kileba's existing JORC-standard Inferred mineral resource of 9.5mt at 1.40% Cu containing 133,000 tonnes of copper, in support of the definitive feasibility study (DFS) being conducted for a Stage 2 solvent extraction-electro winning (SXEW) facility at Kipoi.
- Significant intersections from the final 40 holes of the 64-hole Priority 1 programme at Kileba include:
- KLBDD068: 63.4m @ 2.71% Cu (43.8m to 107.2m)
- KLBDD074: 56.5m @ 3.17% Cu (36.0m to 92.5m)
- KLBDD085: 50.0m @ 2.38% Cu (22.0m to 72.0m)
- KLBDD086: 63.5m @ 3.03% Cu (44.5m to 108.0m) including 18.3m @ 5.48%Cu (73.0m to 91.3m)
- KLBDD092: 107.1m @ 1.61% Cu (from surface) including 52.2m @ 2.40% Cu (0.0m to 52.2m)
- KLBDD093: 69.0m @ 2.74% Cu (22.0m to 91.0m) including 24.2m @ 5.0% Cu (22.0m to 46.2m)
- KLBDD094: 49.0m @ 2.65% Cu (from surface) including 38.0m @ 3.26% Cu (0.0m to 38m)
- KLBDD097: 36.0m @ 1.95% Cu (from surface) Including 5.0m @ 5.63% Cu (20.5m to 25.5m)
- Assay results confirm the continuity of copper oxide mineralisation at Kileba.
- Mineralisation remains open at depth and along strike to the northwest and southeast.
- The Priority 2 DD programme at Kileba of 2,824.5m for 29 holes was completed in July. Assay results are pending.
The drilling programme at Kileba, totalling 93 holes, was designed to convert existing JORC-standard Inferred mineral resources to the Measured and Indicated categories.
Results received for Priority 1 DD holes (KLBDD0062 to KLBDD100) confirm that copper mineralisation is consistent with the proposed resource model.
The drilling campaign confirms the Company's understanding of the structural controls of the Kileba deposit, which appears to be a tight anticline with mineralisation dipping in the axis of the anticline. Kileba South represents the top of the anticline with a shallow plunge to the South and North and copper oxide enrichment reducing as the ground tightens away from the top.
Figure 1: Priority 2 Drill Plan for Kileba
Figure 2: Kileba cross section 17
Figure 3: Kileba cross section 20
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
Table 1: Kileba DD holes completed during June-July 2012 resource upgrade programme with assay results
Cut-off grade of 0.3% Cu used, with a maximum internal dilution of 2m; intercepts less than 3m not included
unless > 1% Cu; assays have been rounded up to two decimal places; intervals with no return have been given
a grade of 0%; assaying performed by ALS Chemex RSA.
Drill holes from KLBDD101 to KLBDD129 are still pending.
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.
Caution Regarding Forward Looking Statements: The forward-looking statements made in this news release are based on assumptions and judgments of management regarding future events and results. Such forward-looking statements 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 results of current exploration, the actual results of future mining, processing and development activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's filed documents.
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr. Brad Marwood, who is a Fellow 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.
SOURCE: Tiger Resources LimitedFor further information:
in respect of the Company's activities please contact:
Tel: (+61 8) 6188 2000
Chief Financial Officer
Tel: (+61 8) 6188 2000
Tel: (+61 0)420 582 887
Company website: www.tigerresources.com.au