Tiger Resources Limited - High Grade Diamond Drilling Results at Kileba

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

PERTH, Western Australia, July 6, 2012 /CNW/ - Tiger Resources Limited (ASX/TSX:TGS, "Tiger") is pleased to announce high-grade results from a diamond drilling (DD) programme at Kileba, a deposit within the boundaries of the  Company's Kipoi Copper Project mining licence area (PE 533) in the Democratic Republic of Congo (DRC).

Tiger has received results for 24 DD holes of the 64-hole programme.  Results for the remaining 40 DD holes are pending.

The results will be used to upgrade Kileba's existing JORC-standard Inferred mineral resource of 9.5mt at 1.40% Cu containing 133,000 tonnes of copper, in support of the feasibility study currently being undertaken for a Stage 2 solvent extraction- electro winning (SXEW) facility at Kipoi.

Highlights

• Copper mineralisation was intersected in all 24 DD holes assayed to date (KLBDD038 to KLBDD061)
• The Kileba Priority 1 DD program was completed in March 2012, with a total of 8,295m drilled in 64 DD holes. The most significant intersections include:
• KLBDD059: 149.2m @ 3.55% Cu (including 94.3m @ 5.68% Cu)
• KLBDD045: 124.1m @ 3.44% Cu (including 97.3m @ 4.15% Cu)
• KLBDD046: 63.7m @ 2.12% Cu
• KLBDD055: 46.0m @ 3.56% Cu (including 25.0m @ 6.61% Cu)
• Assay results confirm the continuity of copper oxide mineralisation across the middle of the Kileba deposit.
• Mineralisation remains open at depth and to the north and south of Kileba.
• A follow-up Priority 2 drilling program of 29 holes is underway, with the last hole currently being drilled.

Full details are available in a release that has been filed with SEDAR and is posted on the Company's website at www.tigerresources.com.au

Background

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 Company has reported JORC-compliant resources at three of the deposits: Kipoi Central, Kipoi North and Kileba. 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 has adopted a staged development approach at the Kipoi Project. The high grade zone of mineralisation at Kipoi Central is being exploited during the Stage 1 development. During the three-year operation of Stage 1,900,000tpa of 7% Cu is planned to be processed through the HMS plant with a recovery rate of 55%, to produce the equivalent of approximately 35,000tpa of copper.

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, 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 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.

 

Brad Marwood
Managing Director
Tel: [phone]
Email: [email protected]

Stephen Hills
Chief Financial Officer
Tel: [phone]
Email: [email protected]

Nathan Ryan
Investor Relations
Tel: [phone]
Email: [email protected]

Company website: www.tigerresources.com.au