Kipoi Copper Project - Production Update
PERTH, Western Australia, July 5, 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, July 5, 2011 /CNW/ - Tiger Resources Limited
(ASX: TGS) (TSX: TGS) ('Tiger' or 'the Company') is pleased to provide
a production update from its high-grade Kipoi Copper Project in the
Democratic Republic of Congo (DRC).
Tiger's first stage of production, which utilises a heavy media
separation (HMS) plant, is tracking well to reach its targeted
throughput level of 75,000 tonnes per month.
___________________________________________________________
| MONTHLY PRODUCTION SUMMARY JUNE 2011 |
|___________________________________________________________|
| | | JUNE | UNAUDITED |
|______________________________|______|________|____________|
|Production Statistics | |Forecast| Actual |
|______________________________|______|________|____________|
|Mining | | | |
|______________________________|______|________|____________|
| Ore*|tonnes| 104,300| 107,800|
|______________________________|______|________|____________|
|Stockpiles | | | |
|______________________________|______|________|____________|
| High grade Copper*|tonnes| 75,000| 197,000|
|______________________________|______|________|____________|
| High grade Copper*|grade | 6.45| 6.95|
|______________________________|______|________|____________|
|Processing | | | |
|______________________________|______|________|____________|
| Ore processed*|tonnes| 37,500| 44,557|
|______________________________|______|________|____________|
| Ore processed Grade| % Cu | 6.45| 5.37|
|______________________________|______|________|____________|
| Concentrate*|tonnes| 5,511| 7,053|
|______________________________|______|________|____________|
| Recovery*| % Cu | 55| 63|
|______________________________|______|________|____________|
|Copper in Concentrate produced|tonnes| 1470| 1,345|
|______________________________|______|________|____________|
|Sales | | | |
|______________________________|______|________|____________|
| Copper Concentrate Sold|tonnes| 5,850| 4,496|
|______________________________|______|________|____________|
|* Bolded items indicates out performed Target for the month|
|___________________________________________________________|
Tiger Resources Managing Director Brad Marwood said plant capability had
now been proven.
'Throughput of ore-feed is in excess of the nameplate design capacity,
2,500 tonnes per day, and production is at expected recovery levels,'
Mr Marwood said.
'We are very pleased to have regular daily sales of concentrate, more
than a month of ore stockpiled and available for processing, and the
plant operating and producing at expected levels.
'It is particularly satisfying that we have not had one serious accident
since the commencement of development.'
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 operation of Stage 1
900,000tpa of 7% Cu is planned to be processed through a 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 a 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/July2011/05/c3541.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 3 ) 9622 2159 |
Email: bmarwood@tigerez.com | Email: shills@tigerez.com | Email: nryan@tigerez.com |
Company website: www.tigerresources.com.au