First Sales of Copper Concentrate from Kipoi Copper Project
PERTH, Western Australia, June 16, 2011 /CNW/ --
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
ASX Code: TGS
TSX Code: TGS
PERTH, Western Australia, June 16, 2011 /CNW/ - Tiger Resources Limited
(TSX: TGS) (ASX: TGS) ('Tiger' or 'the Company') is pleased to announce
the first sales of copper concentrate produced at the Kipoi Copper
Project, in the Democratic Republic of Congo's Katanga Copper Belt.
The first shipments of copper concentrate were transported from site on
15 June 2011, and sales are expected to continue steadily as production
is increased to achieve planned plant operating levels over the next
two months.
Tiger will produce an average of 35,000 tonnes per annum of copper in a
25% concentrate over the planned three year operating life of the Stage
1 heavy media separation (HMS) plant at Kipoi.
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 principal 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 will 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/June2011/16/c6616.html
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 3) 9622 2159 |
Email: bmarwood@tigerez.com | Email: shills@tigerez.com | Email: nryan@tigerez.com |
Company website: www.tigerresources.com.au