Tiger Resources Limited - Sase Central Maiden Resource Estimate
05.04.2011 | CNW
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESPERTH, Western Australia, April 5 /CNW/ - Tiger Resources Limited (ASX: TGS) (TSX: TGS) ("Tiger Resources" or "the Company") is pleased to announce a maiden mineral resource estimate, by Cube Consulting Pty Ltd, for the Sase Central copper deposit located within the Company's 100% owned Lupoto Copper Project in the Democratic Republic of Congo (DRC).
Highlights:
- Indicated resource of 3.1Mt at 1.6% Cu containing 49,000 tonnes of copper (and 2,000 tonnes of cobalt) and an Inferred resource of 11.6Mt at 1.3% Cu containing 151,000 tonnes of copper (and 5,000 tonnes of cobalt).
- Resource model based on mineralisation to approximately 150 metres vertical depth. Deposit is amenable to conventional open pit mining.
- Resource estimate shows Sase Central has the potential to extend the life of the planned Stage 2 development at the Company's nearby Kipoi Project.
- Significant potential to increase the maiden resource estimate as mineralisation remains open along strike and at depth. Drilling results indicate potential for high grade sulphide mineralisation at depth.
Mineral Resource Estimate for Sase Central
The resource estimate is based on the results of 5,547.7 metres of diamond drilling, 2,220 metres of reverse circulation drilling and 12,039 metres of air core drilling. Drilling has delineated mineralisation over a strike of 700 metres and a width of 50 metres with mineralisation remaining open along strike and at depth.
Tiger Resources Managing Director, Brad Marwood, said the resource estimate was a highly significant milestone for the Company.
"The deposit includes significant high grade mineralisation, with drill intersections up to 75 metres at 5.94% copper," Mr Marwood said.
"The resource estimate shows Sase Central has the potential to extend the life of the planned Stage 2 development at Kipoi. The deposit is located approximately 25kms to the south of the Kipoi Project and can be accessed by a road that leads directly to Kipoi."
The Company considers there is considerable scope to increase this mineral resource estimate based on potential along strike and at depth. Cube Consulting Pty Ltd has estimated the following Resources for Sase Central:
____________________________________________________________________
| |
| Sase Resource >0.3% Cu |
| |
|____________________________________________________________________|
|Classification| Category |Tonnes |Copper |Cobalt |Copper |Cobalt |
| | | (mt) | (%) | (%) |(000't)|(000't) |
|______________|____________|_______|_______|_______|_______|________|
| Indicated | Oxide | 2.1 | 1.7 | 0.1 | 35 | 2 |
|______________|____________|_______|_______|_______|_______|________|
| |Transitional| 0.6 | 1.5 | 0.0 | 9 | 0 |
|______________|____________|_______|_______|_______|_______|________|
| | Fresh | 0.4 | 1.2 | 0.0 | 5 | 0 |
|______________|____________|_______|_______|_______|_______|________|
| Total - Indicated | 3.1 | 1.6 | 0.1 | 49 | 2 |
|___________________________|_______|_______|_______|_______|________|
| Inferred | Oxide | 1.7 | 1.4 | 0.1 | 23 | 1 |
|______________|____________|_______|_______|_______|_______|________|
| |Transitional| 2.4 | 1.3 | 0.0 | 32 | 1 |
|______________|____________|_______|_______|_______|_______|________|
| | Fresh | 7.5 | 1.3 | 0.0 | 96 | 3 |
|______________|____________|_______|_______|_______|_______|________|
| Total - Inferred | 11.6 | 1.3 | 0.0 | 151 | 5 |
|___________________________|_______|_______|_______|_______|________|
Refer Appendix 1 for explanatory notes regarding the Mineral Resource estimate.
BACKGROUND
The Sase Project is situated within the Lupoto Copper Project (PR2214). The northern boundary of the permit is located approximately 10kms to the south of the Kipoi Project and the project area can be accessed by a road that leads directly to Kipoi.
The Company holds a 100% interest in the Lupoto Permit and Aurum sprl has the right to a 1% NSR from any production.
The Sase Project is located in an area of intersecting splay structures associated with a major project scale fault system, the Sase fault zone. Fault breccias related to the fault systems represent important exploration targets. Several other analogous geological settings have been identified in other parts of the Lupoto Project area. 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 worlds' largest Pb-Zn-Cu deposits at Kipushi, 50km west of Lubumbashi in the DRC.
Company website: www.tigerresources.com.au
The Information in this news release that relates to mineral resources at Sase Central is based on resource estimates compiled by Mr Mark Zammit, who is a member of the Australian Institute of Geoscientists. Mr Zammit is a full time employee of Cube Consulting Pty Ltd. Mr Zammit 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 Zammit consents to the inclusion in this news release of the matters based on their 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 Lupoto Project has been prepared by or under the supervision of Mr Bradley Marwood, Managing Director and a full-time employee of the Company and a member of the Australasian Institute of Mining and Metallurgy ("AusIMM"). Mr Marwood 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 Marwood 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 Marwood 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 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 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.
Appendix 1
ESTIMATION AND REPORTING OF SASE CENTRAL MINERAL RESOURCES
1) The maiden resource estimate for the Sase Central copper cobalt deposit was completed in April 2011 by Cube Consulting Pty Ltd on behalf of Tiger Resources Limited.
2) Mineralisation at Sase Central deposit is hosted in the Lower Kundelungu (Nguba) sedimentary rocks. It is structurally controlled and dominantly hosted in fault breccias and veins associated with fracturing and joint planes. Sulphide copper mineralisation occurs predominately in siltstones. The oxide mineralisation has resulted from supergene enrichment with lateral dispersion forming a high grade cap over the primary mineralisation.
3) Database integrity was assessed by Cube Consulting Pty Ltd.
4) The drill database used in the estimation was based on 36 diamond drill (DD) holes, 22 reverse circulation (RC) holes. Sample recovery was considered within industry norms for both DD and RC drilling.
5) Drilling was carried out in sections perpendicular to the strike of the mineralisation with drill holes spaced at 25m x 50m over the high grade areas and 50m x 50m outside this zone. The maximum depth of resource drilling is 253.3m.
6) Wireframes were generated on cross sectional interpretations based on geology and grade. A lower grade cut-off of approximately 0.3% Cu was used to assist in defining the mineralised envelope.
7) The deposit was interpolated using Ordinary Kriging (OK) grade estimation of 5m downhole composites into 25mN x 25mE x 5mRL parent cells. Quantative Kriging Neighbourhood Analysis was used to optimise parameters for the estimation search strategies.
8) The Mineral Resource have been classified and reported in accordance with the 2004 JORC code. Resource classification is based on confidence in the geological continuity, drill spacing and geostatistical analysis.
9) The current resource model provides a robust global estimate of the in situ Cu with Co mineralisation in the Sase Central deposit.
For further information:
For further information in respect of the Company's activities, please contact:
Brad Marwood Stephen Hills Nathan Ryan
Managing Director Chief Financial Officer Investor Relations
Tel: (+61 8) 9240 1933 Tel: (+61 8) 9240 1933 Tel: (+61 0)420 582 887
Email: bmarwood@tigerez.com Email: shills@tigerez.com Email: nryan@tigerez.com