Kipoi Copper Project Stage 1 Construction Update
PERTH, Western Australia, March 29 /CNW/ --
Plant Completed and Commissioning Commenced
PERTH, Western Australia, March 29 /CNW/ - Tiger Resources Limited (ASX:
TGS) (TSX: TGS) is pleased to advise that construction of the heavy
media separation (HMS) plant for the Stage 1 development at the Kipoi
Copper Project in the Democratic Republic of Congo has been completed
and commissioning of the plant has commenced.
DRA's commissioning team including equipment vendor specialists are
currently on site. DRA has scheduled 19 days for commissioning of the
HMS plant allowing first production of copper concentrate to occur
during April. Upon completion of the commissioning, it is expected the
plant will be operating at the planned output rate of 3,000 tonnes of
copper per month (35,000tpa copper).
Tiger Managing Director Mr Brad Marwood said 'The plant had been
completed within the planned timeline and within the budgeted costs.'
'I am very pleased with the effort of all of Tiger's personnel leading
to this significant milestone for Tiger and look forward to first sales
of copper concentrate in the near future' Mr Marwood said.
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.
Company website: www.tigerresources.com.au
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.
/NOTE TO PHOTO EDITORS: A photo accompanying this release is available
at http://photos.newswire.ca. Images are free to accredited members of the media/
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/March2011/29/c7302.html
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 |