- Tiger Resources Board approves commencement of Kipoi Central Stage 1
- Site works at Kipoi are underway
- The Minister of Mines for Katanga has publicly endorsed the start up
of the development and confirmed the Government's support for the
PERTH, Western Australia, July 8 /CNW/ - Perth-based emerging copper miner Tiger Resources Ltd (ASX/TSX - TGS) ("Tiger" or the "Company") is pleased to announce the commencement of mine development at Kipoi Central following board approval to proceed with the Stage 1 Project.
Pre-production works that have started include improving road access to the site, refurbishing accommodations, installing communications, purchasing mine services equipment, plant site earthworks and preparing storage facilities for the slimes, fines and floats produced from the Heavy Media Separation (HMS) plant. The Company is also recruiting key operational personnel.
A contract with MCK Trucks SPRL for the mining works is expected to be executed before the end of July 2010, with mobilisation and commencement of mining works immediately thereafter.
Contractual arrangements with DRA Mineral Projects (Pty) Ltd for the capital works at Kipoi Stage 1 including construction and installation of the HMS plant are also expected to be finalised in July 2010.
Based on the short construction and pre-strip period, and the relatively simple nature of the proposed development and operation, the Company is targeting commencement of production late in the fourth quarter of 2010, ramping up to full production in the first quarter 2011.
Recently the Provincial Minister of Mines, his Excellence Kitungwa Juvenal, visited the Kipoi Project site where he publicly confirmed the project had the support of both the National and Provincial Governments. He also stated that he looked forward to attending the official opening of the mine along with the National Minister of Mines and the Governor of Katanga.
The Kipoi Project covers an area of 55km(2) and is located 75km north-north-west of the city of Lubumbashi in the Katangan 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 standard resources at three of the deposits. The principle deposit is Kipoi Central which contains a zone of high grade copper mineralisation within a much larger lower grade global resource. The Company proposes a staged development at the Kipoi Project. The high grade zone of mineralisation at Kipoi Central is proposed to be exploited during the Stage 1 development, which is intended to commence production at the end of 2010. During the three year life of Stage 1 a total of 900,000tpa of 7% Cu is planned to be processed through a Heavy Media Separation plant to produce the equivalent of 35,000tpa of Copper.
Company website: www.tigerresources.com.au.
Caution Regarding Forward Looking Statements: The forward-looking statements made in this report are based on assumptions and judgments of management regarding future events and results. Such forward-looking statements, including but not limited to those with respect to the development of a Stage 1 mining operation at the Kipoi Project, 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, risks related to mining operations, including political risks and instability and risks related to international operations, the actual market prices of copper, cobalt and silver, 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. There can be no assurance that the Kipoi Project will be successfully developed, that all of the funding required for the Stage 1 development will be available, that any mineralization previously disclosed in respect of the Kipoi Project will be proven to be economic, that anticipated metallurgical recoveries will be achieved, that future evaluation work will confirm the viability of deposits identified within the project or that future required regulatory approvals will be obtained.
SOURCE Tiger Resources Limited
For further information: For further information: in respect of the Company's activities, please contact: David Young, Joint Managing Director, Tel: (+61 8) 9240 1933, Email: email@example.com; Brad Marwood, Joint Managing Director, Tel: (+61 8) 9240 1933, Email: firstname.lastname@example.org; Reg Gillard, Chairman, Tel: (+61 8) 9240 1933, Email: email@example.com