Tiger Resources Announces High Grade Results at Sase Central
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
PERTH, Western Australia, April 3, 2013 /CNW/ - Tiger Resources Limited (ASX/TSX:TGS, "Tiger") is pleased to announce high-grade copper results from a diamond drilling (DD) programme at Sase Central, which lies within the boundaries of the Company's 100%-owned Lupoto Copper Project, in the Democratic Republic of Congo.
Highlights
- A 15-hole infill and resource extensional diamond drilling (DD) programme for 2,226.9m was completed at Sase Central in December 2012. Assay results have been received for all DD holes.
- Significant intersections from the programme included:
- SASDD043: 36.6m @ 3.20% Cu (73.0m - 109.60m) including 5.0m @ 4.96% Cu (73.0m - 78.0m) including 6.0m @ 9.01% Cu (89.6m - 95.6m)
- SASDD044: 38.5m @ 3.65% Cu (54.9m - 92.5m) including 6.5m @ 7.52% Cu (57.5m - 64.0m) including 1.0m @ 7.03% Cu (82.0m - 83.0m) including 5.0m @ 5.69% Cu (86.5m - 91.5m)
- SASDD045: 4.5m @ 4.82% Cu (33.5m - 38.0m), 8.5m @ 4.84% Cu (43.0m - 51.5m), 6.0m @ 1.69% Cu (66.0m - 72.0m), and 7.3m @ 0.64% Cu (88.5m - 95.8m)
- SASDD043: 36.6m @ 3.20% Cu (73.0m - 109.60m) including 5.0m @ 4.96% Cu (73.0m - 78.0m) including 6.0m @ 9.01% Cu (89.6m - 95.6m)
- Assay results add further confidence to the continuity and distribution of copper oxide mineralisation across the Sase Central deposit.
- The programme confirms that the mineralisation remains open at depth and towards the east.
- The results will be used to support the preparation of a revised resource estimate.
The full copy of the announcement is available in a release that has been filed with SEDAR and is posted on the Company's website at www.tigerresources.com.au
Sase Central (PR-2214)
The 15-hole DD programme of 2,226.9m was designed as an infill drilling and resource extension programme to support an upgrade of the existing JORC-inferred resource of 11.9Mt @ 1.3% Cu for 151,000t Cu into JORC-indicated resource status.
Previous diamond drilling programmes in 2008 and 2010 confirmed the continuation of the mineralisation envelope towards the east, with the 2012 DD programme assay results from SASDD046 enhancing confidence of a further extension of the mineralisation in an east-north-east direction.
The Sase Central deposit is situated along a major east-west trending fault system which supports the conclusion that the mineralised envelope will continue towards the east. An intersecting lineament aligned to the regional north-west to south-east regional tectonic trend may have provided the structural setting for mineralisation to occur.
The assay results from the programme will be used to support a revised resource estimate.
Background
The Sase Central deposit is located within the 100%-owned Lupoto Permit (PR-2214). The northern boundary of the permit is located approximately 10km to the south of the Kipoi Project. The permit is located in an area of intersecting splay structures associated with a major project scale fault system, the Sase fault zone. Faulted breccias related to the fault system represent exploration targets. Mineralisation at Sase is hosted in intensely brecciated sedimentary rocks, mainly carbonaceous siltstones, shales and dolomites of the lower kundelungu group. These stratigraphic units are known to host one of the world's largest Pb-Zn-Cu deposits at Kipushi, 50km west of Lubumbashi in the DRC.
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 Kipoi Stage 2 solvent-extraction electro-winning (SXEW) plant is under development and is targeted to come on-stream in 2014. Ore reserves from the Kipoi Central, Kipoi North and Kileba deposits within the Kipoi Project area will be processed during the Stage 2 operations.
Caution Regarding Forward Looking Statements and Forward Looking Information: This report contains forward looking statements and forward looking information, which are based on assumptions and judgments of management regarding future events and results. Such forward-looking statements and forward looking information, including but not limited to those with respect to the Stage 1 mining, HMS and spiral system operations and the development of a Stage 2 SXEW plant at Kipoi Central, 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 availability of debt financing, the volatility in global financial markets, the actual results of future mining, processing and development activities and changes in project parameters as plans continue to be evaluated. There can be no assurance that the Stage 1 HMS plant will operate in accordance with forecast performance, that anticipated metallurgical recoveries will be achieved, that future evaluation work will confirm the viability of deposits identified within the project, that future required regulatory approvals will be obtained, that the Stage 2 expansion of the Kipoi Project will proceed as planned and within expected time limits and budgets or that, when completed, the expanded Kipoi Stage 2 project will operate as anticipated.
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 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.
| Table 1: Sase Central DD holes completed during Q4 2012 DD programme with assay results | ||||||||||||||||||||||
| Collar ID | Easting (m) |
Northing (m) |
Azimuth (o) |
Incl (o) |
EOH (m) |
From (m) |
To (m) |
Interval (m) |
% Cu | |||||||||||||
| 5084450.0 | 5084450.00 | 8733908.00 | 0.00 | -90.00 | 150.00 | 19.30 | 21.30 | 2.00 | 0.45 | |||||||||||||
| 32.30 | 70.80 | 38.50 | 0.58 | |||||||||||||||||||
| 72.80 | 74.80 | 2.00 | 1.58 | |||||||||||||||||||
| 97.20 | 103.00 | 5.80 | 0.81 | |||||||||||||||||||
| 119.60 | 135.50 | 15.90 | 1.51 | |||||||||||||||||||
| SASDD038 | 508450.00 | 8734008.00 | 0.00 | -90.00 | 160.00 | 11.80 | 14.80 | 3.00 | 0.79 | |||||||||||||
| 31.80 | 86.90 | 55.10 | 0.65 | |||||||||||||||||||
| including | 64.80 | 69.80 | 5.00 | 1.58 | ||||||||||||||||||
| 92.60 | 96.70 | 4.10 | 1.40 | |||||||||||||||||||
| SASDD039 | 508350.00 | 8733900.00 | 0.00 | -90.00 | 149.50 | NSR | ||||||||||||||||
| SASDD040 | 508350.00 | 8734002.00 | 0.00 | -90.00 | 131.60 | 34.30 | 38.30 | 4.00 | 0.46 | |||||||||||||
| 63.30 | 70.30 | 7.00 | 0.33 | |||||||||||||||||||
| 95.70 | 104.60 | 8.90 | 0.61 | |||||||||||||||||||
| SASDD041 | 508293.00 | 8734072.00 | 180.00 | -60.00 | 170.30 | 144.25 | 160.70 | 16.45 | 0.77 | |||||||||||||
| SASDD042 | 508500.00 | 8733800.00 | 0.00 | -90.00 | 130.50 | NSR | ||||||||||||||||
| SASDD043 | 508553.00 | 8733882.00 | 0.00 | -90.00 | 130.00 | 73.00 | 109.60 | 36.60 | 3.20 | |||||||||||||
| including | 73.00 | 78.00 | 5.00 | 4.96 | ||||||||||||||||||
| including | 89.60 | 95.60 | 6.00 | 9.01 | ||||||||||||||||||
| SASDD044 | 508552.00 | 8733978.00 | 0.00 | -90.00 | 170.00 | 54.00 | 92.50 | 38.50 | 3.65 | |||||||||||||
| including | 57.50 | 64.00 | 6.50 | 7.52 | ||||||||||||||||||
| including | 82.00 | 83.00 | 1.00 | 7.03 | ||||||||||||||||||
| including | 86.50 | 91.50 | 5.00 | 5.69 | ||||||||||||||||||
| SASDD045 | 508650.00 | 8733877.00 | 180.00 | -60.00 | 135.00 | 33.50 | 38.00 | 4.50 | 4.82 | |||||||||||||
| 43.00 | 51.50 | 8.50 | 4.84 | |||||||||||||||||||
| 66.00 | 72.00 | 6.00 | 1.69 | |||||||||||||||||||
| 88.50 | 95.80 | 7.30 | 0.64 | |||||||||||||||||||
| SASDD046 | 508800.00 | 8733995.00 | 180.00 | -60.00 | 188.30 | 74.50 | 80.50 | 6.00 | 0.38 | |||||||||||||
| 83.50 | 87.50 | 4.00 | 1.63 | |||||||||||||||||||
| 130.10 | 141.60 | 11.50 | 0.95 | |||||||||||||||||||
| SASDD047 | 508800.00 | 8733820.00 | 180.00 | -60.00 | 120.00 | NSR | ||||||||||||||||
| SASDD048 | 508550.00 | 8734030.00 | 0.00 | -90.00 | 143.30 | NSR | ||||||||||||||||
| SASDD049 | 508455.00 | 8734035.00 | 0.00 | -90.00 | 170.00 | 38.50 | 44.50 | 6.00 | 1.05 | |||||||||||||
| SASDD050 | 508650.00 | 8733985.00 | 180.00 | -60.00 | 139.10 | 44.00 | 53.50 | 9.50 | 0.39 | |||||||||||||
| 71.00 | 76.50 | 5.50 | 0.50 | |||||||||||||||||||
| SASDD051 | 508750.00 | 8733932.00 | 0.00 | -90.00 | 139.30 | 57.00 | 59.00 | 2.00 | 0.67 | |||||||||||||
| 86.60 | 113.60 | 27.00 | 1.42 | |||||||||||||||||||
Notes:
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SOURCE: Tiger Resources Limited
For further information in respect of the Company's activities, please contact:
Brad Marwood
Managing Director
(+61 8) 6188 2000
[email protected]
Stephen Hills
Chief Financial Officer
(+61 8) 6188 2000
[email protected]
Nathan Ryan
Investor Relations
(+61 0) 420 582 887
[email protected]
Company website: www.tigerresources.com.au
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