NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
PERTH, Western Australia, July 6, 2012 /CNW/ - Tiger Resources Limited
(ASX/TSX:TGS, "Tiger") is pleased to announce 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).
Tiger has received results for 24 DD holes of the 64-hole programme.
Results for the remaining 40 DD holes are pending.
The results will be used to 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 feasibility study currently being
undertaken for a Stage 2 solvent extraction- electro winning (SXEW)
facility at Kipoi.
Copper mineralisation was intersected in all 24 DD holes assayed to date
(KLBDD038 to KLBDD061)
The Kileba Priority 1 DD program was completed in March 2012, with a
total of 8,295m drilled in 64 DD holes. The most significant
KLBDD059: 149.2m @ 3.55% Cu (including 94.3m @ 5.68% Cu)
KLBDD045: 124.1m @ 3.44% Cu (including 97.3m @ 4.15% Cu)
KLBDD046: 63.7m @ 2.12% Cu
KLBDD055: 46.0m @ 3.56% Cu (including 25.0m @ 6.61% Cu)
Assay results confirm the continuity of copper oxide mineralisation
across the middle of the Kileba deposit.
Mineralisation remains open at depth and to the north and south of
A follow-up Priority 2 drilling program of 29 holes is underway, with
the last hole currently being drilled.
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
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 55%, 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 Limited
For further information:
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