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Plant being transported
PERTH, Western Australia, Dec. 15 /CNW/ - Tiger Resources Limited (ASX/TSX code: TGS) is pleased to advise that construction has continued to proceed safely, on time and on budget for the Stage 1 development at the Kipoi Copper Project in the Democratic Republic of Congo (DRC).
Tiger remains on schedule to start commercial production in the first quarter of 2011. The Company plans to produce approximately 35,000t per annum of copper for three years from the first stage of the development at Kipoi.
The development team has so far achieved 128,759 man-hours without lost time injury.
Key developments during the past month include the freighting of the heavy media separation (HMS) plant from Johannesburg, South Africa to Kipoi, with the first truck arriving on 27 November. Steelwork for the HMS plant has also started to be delivered to site with four truckloads arriving during the past week. Group Five has mobilised its cranes and accommodations facility and will commence plant erection during December.
Mining of waste material is also continuing on schedule with 69,088 bank cubic meters of material being removed from the Kipoi Central pit during November.
In addition to these key developments, the access road to Kipoi has been completed and the waste dam construction is continuing with mobilisation of civil earthworks equipment to prepare the embankment.
The Kipoi Project covers an area of 55 sq kms 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 principal 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. 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 (HMS) plant to produce the equivalent of 35,000tpa of Copper.
The Company is currently undertaking a feasibility study to evaluate the economic viability of constructing an SXEW plant (Stage 2) targeted to come on stream within three years of the start of the HMS operation. It is envisaged that ore from Kipoi Central, Kipoi North and Kileba South and the other deposits within the Kipoi Project and within the nearby Lupoto Project would be processed at the Stage 2 phase.
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 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.
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