Tiberon outlines anomaly

Surface sampling by Calgary-based junior Tiberon Minerals (TBR-V) has outlined a tungsten-bismuth-copper gold target at the Nui Phao property in northern Vietnam.

Chip sampling on the southeastern slope of a 600-by-300-metre gossan has defined the mineralized zone over a 265-metre strike length. A total of 82 new samples returned an average of 0.77% tungsten trioxide, 0.47% bismuth and 0.4% copper, as well as 1.03 grams gold per tonne.

A total of 201 samples, collected from almost 200 metres of trenching and pitting over the gossan, returned an average grade of 0.5% tungsten trioxide, 0.39% bismuth, 0.29% copper and 0.82 gram gold. The mineralization occurs below a shallow topsoil cover and remains open to the east.

Through the interpretation of airborne geophysical survey data, Tiberon has identified a magnetic anomaly, which centred on the gossan zone and measures more than 2 km in length. The anomalous zones are characterized by deeply weathered bedrock with limited exposure. Tiberon plans to continue trenching and pitting over the gossan’s southern base, its western end and its northern end, and also over several areas to the east.

In March 1999, the junior settled all outstanding litigation with Vietnam Resources concerning the Nui Phao project. Vietnam Resources relinquished all rights to the property in return for 1 million shares of Tiberon. Tiberon and Vietnam Resources have released each other from all claims or actions. Tiberon now has a 70% interest in the Nui Phao project. The other 30% is held by Vietnamese parties.