PERTH, Western Australia, Aug. 19 /CNW/ - Emerging copper producer Tiger
Resources Limited (ASX / TSX: TGS) ("Tiger" or the "Company") is pleased to
announce further significant resource diamond drilling results from the Kileba
Copper Deposit, located within the boundaries of the Kipoi Project.
Significant Drill Intersects
KLBDD009: 136.5m @ 0.7% Cu, including 7m @ 11.8% Cu and
9.0m @ 8.5% Cu
KLBDD011: 48.5m @ 2.7% Cu and 35.3m @ 2.5% Cu, including
6.0m @ 7.2% Cu
KLBDD012: 17.0m @ 1.8% Cu, 28.0m @ 1.6% Cu and
28.0m @ 1.2% Cu
KLBDD013: 70.5m @ 1.7% Cu
KLBDD015: 22.0m @ 1.3% Cu and 37.5m @ 2.4% Cu
KLBDD022: 46.9m @ 1.7% Cu and 51.9m @ 3.9% Cu
KLBDD024: 13.0m @ 2.4% Cu and 63.0m @ 1.0% Cu
- High grade copper mineralisation delineated over a strike length of
550m to a depth of over 200m.
- Mineralisation remains open along strike for a minimum of a further
- Further resource drilling planned to expand mineralisation.
- Initial resource estimate planned for fourth quarter 2008.
The Kileba Copper orebody is one of five known copper deposits located
within the Kipoi Project which covers a total area of 55km(2). Kileba is
located some 6km to the south east of the Kipoi Central orebody, where the
Company has a Measured and Indicated resource of 2.86Mt at 8.1% Cu containing
232,000 t of Copper Metal (refer news release dated 8 July 2008).
To date the Company has completed 37 diamond holes at Kileba for 6,849m
as part of a resource definition programme over a strike of 550m, with over
800m of mineralised strike yet to be drilled out. Results for the first seven
holes were released on 20 June 2008.
Results have recently been received for a further 13 holes drilled as
part of the resource drilling programme. All results are listed in Table 1.
Drilling at Kileba has identified several sub-parallel intervals of
stratiform and structurally overprinted, steeply south-west dipping lodes of
copper mineralisation (up to 25m true thickness) hosted by Roan sediments over
a strike length of 550m and to depths of 200m. Mineralisation remains open
along strike and at depth. Refer to Figure 1.
Copper oxide mineralisation (malachite mainly) gives way below the base
of oxidation (approximately 100m) to primary sulphide mineralisation.
The Company has planned a further programme of resource drilling along
strike with the potential to extend mineralisation by at least a further 800m.
An initial resource estimate is planned for Kileba in October.
Kileba is one of five known copper occurrences hosted in a 12km-long
fragmented sequence of mineralised Roan sediments that have been mapped within
the boundaries of the Kipoi Project in which the Company is earning a 60%
Kileba is located approximately 6kms southeast of the Kipoi Central
deposit. The Company is well advanced in the completion of a definitive
feasibility study to determine the economic viability to fast track the start
of a Stage 1 mining operation at Kipoi Central leading towards the production
of 35,000tpa of copper metal.
The conceptual target for exploration is to define oxide and sulphide
resources in excess of one million tonnes of contained copper by the end of
2008 to support a production of 100,000tpa of copper metal.
In addition to the Resource Estimate for the Kipoi Central deposit,
initial resource estimates are planned for Kipoi North in August and Kileba in
The Information in this report that relates to Mineral Resources of the
Kipoi Project is based on a resource estimate compiled by Mr Ted Hansen and Mr
Rick Adams, both of whom are members of the Australasian Institute of Mining
and Metallurgy ("AusIMM"). Mr Hansen and Mr Adams are directors of Cube
Consulting Pty Ltd. Mr Hansen and Mr Adams have sufficient experience which is
relevant to the style of mineralisation and type of deposit under
consideration and to resource estimation to qualify as Competent Persons as
defined in the 2004 Edition of the "Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves" (the "JORC Code") and
to qualify as a "Qualified Person" under National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr Hansen and Mr
Adams consent to the inclusion in this report of the matters based on their
information in the form and context in which it appears.
Scientific or technical information in this report other than that
relating to mineral resources of the Kipoi Project has been prepared by or
under the supervision of Mr David Young, Managing Director and a full-time
employee of the Company and a member of the AusIMM. Mr Young has sufficient
experience which is relevant to the style of mineralization under
consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the JORC Code and to qualify as a "Qualified
Person" under NI 43-101. Mr Young has verified the data disclosed in this news
release, including sampling, analytical and test data underlying the
information or opinions contained in this news release. Mr Young consents to
the inclusion in this report of the matters based on his information in the
form and context in which it appears.
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. Forward-looking statements
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.
Assay results in this report were prepared by the independent laboratory,
ALS Chemex, Western Australia.
To view the latest drill results from Kileba please visit:
For further information:
For further information: in respect of the Company's activities, please
contact: David Young, Managing Director, Tel: (+61 8) 9240 1933, Email:
firstname.lastname@example.org; Reg Gillard, Chairman, Tel: (+61 8) 9240 1933, Email:
email@example.com; Nathan Ryan, Investor Relations, Tel: (+61 8) 9240 1933,
Email: firstname.lastname@example.org; Company website: www.tigerresources.com.au