Tiger Resources continues to deliver some stunning high grade and broad copper intersections from drilling within the company’s Kipoi Copper Project in the Democratic Republic of Congo.
Impressively, the good news for Tiger is that the new data provides strong support for an upgrade to the current JORC Inferred Resource of 9.5 million tonnes at 1.40% copper for 133,000 tonnes of copper where the company is focussed on delineating Measured and Indicated Resources.
Highlights from the final 40 holes of a 64 hole Priority One diamond drilling program include:
1. 63.4 meters at 2.71% copper from 43.8 meters;
2. 56.5 meters at 3.17% copper from 36.0 meters;
3. 50.0 meters at 2.38% copper from 22.0 meters;
4. 63.5 meters at 3.03% copper from 44.5 meters including 18.3 meters at 5.48% copper;
5. 107.1 meters at 1.61% copper from surface including 52.2 meters at 2.40% copper and
6. 69.0 meters at 2.74% copper from 22.0 meters including 24.2 meters at 5.0% copper.
Importantly the results confirm the continuity of copper oxide mineralization at Kileba which remains open at depth and along strike to the northwest and southeast. Worth noting for investors, Tiger is set for a strong news flow in the short term as the Priority Two diamond drilling program for 29 holes over 2800 meters was completed in July with results currently pending.
Kipoi Project breakdown;
Kipoi covers an area of 55 square kilometers and is located 75 kilometers north north west of the city of Lubumbashi in the Katanga Province of the Democratic Republic of Congo, and contains a 12 kilometer sequence of mineralized Roan sediments that host at least five known deposits: Kipoi Central, Kipoi North, Kileba, Judeira and Kaminafitwe. JORC Resources are already hosted at Kipoi Central, Kipoi North and Kileba. The principal deposit is Kipoi Central, which contains a zone of high grade copper mineralization within a much larger, lower grade global resource.
June production at Kipoi sets record;
Highlighting how Tiger continues to move the project forward at speed, a record of 3,853 tonnes of copper in concentrate produced in month of June 2012. The concentrate grade of 26.2% exceeds nameplate capacity, while the stage 1 HMS plant is on track to achieve production of 35,000 tonnes per annum. Copper produced in concentrate for the June quarter 2012 was also a record of 10,233 tonnes.
Worth noting, the HMS plant is demonstrating levels of performance and product consistency that have made it possible for Tiger to commit to export sales, allowing for the company to focus on driving cost efficiencies to maximize cash generation from the plant.
Tiger plans to use cash flows generated from the Stage 1 HMS operations to construct a Stage 2 solvent extraction electro winning processing plant at Kipoi with a capacity to produce 50,000 tonnes per annum of copper cathode. Tiger said that the Definitive Feasibility Study on the processing plant is progressing well.
Source - Proactive Investors.com
(www.steelguru.com)
