NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
PERTH, Western Australia, May 17, 2012 /CNW/ - Tiger Resources Limited (ASX/TSX:TGS, "Tiger") is pleased to announce the results of the drilling recently completed at Kipoi Central at the Company's Kipoi Copper Project, in the Democratic Republic of Congo (DRC). The results will be used to upgrade the existing resource, in support of the Definitive Feasibility Study (DFS) being conducted for the Stage 2 SXEW development at Kipoi.
- Copper was intersected in all 12 Diamond Drilling (DD) holes and 5 Reverse Circulation (RC) holes completed from the 20 hole Priority 1 program at Kipoi Central, with strong continuity and increased width of mineralisation. The last three DD holes drilled all ended in mineralisation at depths in excess of 150m.
- The most significant intersections include:
- KPCDD146 36.9m @ 4.55% Cu (including 13m @ 10.41% Cu)
- KPCDD148 60m @ 2.6% Cu (including 32m @ 4.23% Cu)
- Assay results confirm the continuity of copper oxide mineralisation across widths +500 metres through the middle of the Kipoi Central deposit.
- Mineralisation remains open at depth and to the west of Kipoi Central.
- An additional Priority 2 drilling plan is being prepared with the aim of defining a western extension to the DFS resource, adding to the resource defined by the current program.
- The Kipoi Central resource estimation has commenced and is scheduled for release within the next month.
Full details, including drill cross-sections, are available in a release that has been filed with SEDAR and is posted on the Company's website at www.tigerresources.com.au
Kipoi Central is one of five known copper deposits contained in a 12km sequence of mineralised Roan sediments within the Kipoi Project area (PE533), and is approximately 1km to the west of Tiger's operating HMS plant. Tiger is completing a DFS assessing the commercial benefits of a SXEW plant and will use these drill results to develop resources for the DFS.
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 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.
For 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