Kipoi Copper Project Stage 1 Construction Update
PERTH, Western Australia, Feb. 15 /CNW/ --
Commencement of Production Planned for April 2011
PERTH, Western Australia, Feb. 15 /CNW/ - Tiger Resources Limited (ASX:
TGS) (TSX: TGS) is pleased to advise that construction has continued to
proceed safely with minor delays and on budget for the Stage 1
development at the Kipoi Copper Project in the Democratic Republic of
Congo (DRC).
Tiger now plans to complete plant construction and commence
commissioning in March 2011, with commercial production commencing in
April 2011. The Company expects to produce approximately 35,000t per
annum of copper for three years from the first stage of the development
at Kipoi.
The development team has so far achieved 268,414 man-hours without lost
time injury.
Key developments during the past month include the continuing plant
erection and freighting of the heavy media separation (HMS) plant from
Johannesburg, South Africa to Kipoi. Approximately 85% of the plant has
now been delivered to site. Group Five has recently expanded its
erection team at site to meet the demands of timely erection having
lost time during January and early February due to unexpected weather
conditions and mechanical breakdowns.
Mining of waste material saw 222,000 bank cubic meters removed from the
Kipoi Central pit during January. Construction of the low-grade fines
dam progressed well during the month and is now 37% complete.
Recruitment of operating staff continued as training commenced for
plant operators.
BACKGROUND
The Kipoi Project covers an area of 55 square kms 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-standard resources at three of the
deposits. The principle deposit is Kipoi Central which contains a zone
of high grade copper mineralisation within a much larger lower grade
global resource.
The Company proposes a staged development at the Kipoi Project. The high
grade zone of mineralisation at Kipoi Central is proposed to be
exploited during the Stage 1 development. During the three year life of
Stage 1 a total of 900,000tpa of 7% Cu is planned to be processed
through an HMS plant to produce the equivalent of 35,000tpa of copper.
The Company is currently undertaking a feasibility study to evaluate the
economic viability of constructing an SXEW plant (Stage 2) targeted to
come on stream within three years of the start of the HMS operation. It
is envisaged that ore from Kipoi Central, Kipoi North and Kileba South
and the other deposits within the Kipoi Project and within the nearby
Lupoto Project would be processed at the Stage 2 phase.
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.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2011/15/c2757.html
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 |
Company website:www.tigerresources.com.au