Tiger Resources Announces Kipoi Central Resources Increased by 45% to
637,000T Copper Metal and Total Current Resource for Kipoi Project Increased
to 841,600T Copper Metal
PERTH, Western Australia, May 21 /CNW/ - Tiger Resources Ltd (ASX/TSX - TGS) ("Tiger" or the "Company") is pleased to announce a 45% increase in copper resources at the high grade Kipoi Central deposit in the Katanga Province of the Democratic Republic of Congo (DRC). The full text of the announcement is available on the Company's website at www.tigerresources.com.au and under the Company's profile on SEDAR at www.sedar.com
Highlights
- Total copper metal content at Kipoi Central deposit increased from
439,000t Cu to 637,000t Cu of which 535,000t Cu classified as
Measured and Indicated Mineral Resources
- Total Copper at Kipoi Project Increases to 841,600t Cu (cut off 0.5%
Cu)
- Total Project Silver Increases to 3,691,000oz
- Total Project Cobalt Increases to 28,600t
- Revised Mineralised Model Supports Possible Future Resource Growth
- Potential exists for further resource increases.
The large increase in the overall size of copper resource and especially the significant upgrade in the Measured and Indicated Resource category to 535,000t Cu further enhances the potential of the planned Stage 2 SXEW development which is scheduled for 2014.
The revised resource estimate also brings the Company closer to its objective of delineating a resource base of in excess of 1Mt of copper contained in oxide mineralisation within the Kipoi Project.
The updated resource estimate is based on results of drilling that has extended mineralisation along strike from the area supporting the Stage 1 development by a further 400m (to a total of 800m) and over a width of 450m in a southwest direction. The drilling results were obtained from infill and extension drilling completed after the last resource estimate in March 2008. It had been the intention to complete further drilling programmes at Kipoi Central, and to target zones of high grade mineralisation that fall outside of the area considered in the March 2008 estimate before revising the resource estimate. This work had to be postponed due to the downturn in market conditions. Additional resource drilling programmes at Kipoi are proposed for next year after the start up of mining operations.
Drilling was directed by detailed geological mapping and surface sampling that indicated that mineralisation at Kipoi Central, rather than having a narrow focus, is far more pervasive and extends over a significant area. The results of extension drilling along strike show that sulphide mineralisation is present at depth and that potential exists for the expansion of the resource in this direction. Drilling in the western part of the resource has intersected widespread near-surface supergene mineralisation which provides further opportunities for future resource increases at Kipoi Central.
A revised model of the mineralisation at Kipoi Central was developed for the new resource estimate. Mineralisation is interpreted to occur within four major sub-parallel envelopes (lodes). The lodes are modelled as sub-horizontal envelopes having a north or north-easterly strike and with approximately 15 to 40 degrees westerly dips. Mineralisation outcrops in the northeast where it forms the high grade core to the overall body of mineralisation.
May 2010 Mineral Resource for Kipoi Central estimated by CSA Global
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Kipoi Central Deposit
Grade Tonnage Reported above a Cut off of 0.50% Copper
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Category Tonnes Cu Grade Co Grade Ag Grade Copper Cobalt Ag
(MT) (%) (%) (g/t) (000'T) (000'T) (000'Oz)
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Measured 9.18 3.78 0.14 3.68 347 13 1,085
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Indicated 14.28 1.31 0.07 2.29 187 9 1,052
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Mea +Ind 23.46 2.28 0.09 2.83 535 22 2,138
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Inferred 12.02 0.85 0.05 0.47 102 6 182
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Included within this revised resource estimate is the mineralisation that forms the basis for the July 2008 Mineral Resource estimated by Cube Consulting for the purposes of the Stage 1 development (there has been no change to this high grade component of the Mineral Resource).
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Kipoi Central -(High Grade Zone)
Measured and Indicated Mineral Resource (lower cut off 5.0% Copper)
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Tonnes Copper % Cobalt % Copper Cobalt
(M) Grade Grade (000't) (000't)
Measured 1.93 8.5 0.2 164 3
Indicated 0.93 7.4 0.1 68 1
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Total 2.86 8.1 0.15 232 4
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The Information in this report that relates to Kipoi Central Mineral Resources is based on a resource estimate compiled by Dr Bielin Shi who is a Member of the Australasian Institute of Mining and Metallurgy ("AusIMM"). Dr Shi of CSA Global Pty Ltd has 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"). Dr Shi consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
The Information in this report that relates to Mineral Resources at Kipoi North is based on resource estimates 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 and full time employees of Cube Consulting Pty Ltd. Mr Hansen and Mr Adams each 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" (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.
The Information in this report that relates to Mineral Resources at Kileba South is based on information compiled by Dr Simon Dorling, who is a member of the Australian Institute of Geoscientists ("AIG"). Dr Dorling is a full time employee of CSA Global Pty Ltd. Dr Dorling 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 JORC Code and to qualify as a "Qualified Person" under NI 43-101. Dr Dorling consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.
Scientific or technical information in this news release other than that relating to Mineral Resources of the Kïpoi Project has been prepared by or under the supervision of Mr David Young, Joint 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 news release 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. 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, 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 any mineralisation 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.
For further information: in respect of the Company's activities, please contact: David Young, Joint Managing Director, Tel: +61 (0)8 9240 1933, Email: [email protected]; Brad Marwood, Joint Managing Director, Tel: +61 (0)8 9240 1933, Email: [email protected]; Reg Gillard, Chairman, Tel: +61 (0)8 9240 1933, Email: [email protected]; Company website: www.tigerresources.com.au
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