Tiberon tags new zone (December 10, 2001)

Vancouver — Drilling 1 km northeast of Tiberon Minerals‘ (TBR-V) Nui Phao tungsten deposit in northern Vietnam has cut a new zone of mineralization.

Highlights to date of the ongoing program are as follows:

– The zone was intersected first by hole 75, which returned 0.45% tungsten trioxide, 0.35% copper and 0.15% bismuth, plus 0.33 gram gold per tonne, over 6 metres at a down-hole depth of 27 metres.

– Hole 78, moving some 50 metres north and west, hit 5.6 metres grading 0.35% tungsten trioxide, 0.4% copper, 0.14% bismuth and 0.47 gram gold at 46 metres down-hole.

– Hole 73, collared 700 metres west of the discovery hole, failed to intersect any significant mineralization.

– Hole 74 extended the mineralization to the south by returning 36 metres grading 0.47% tungsten trioxide, 0.23% copper, 0.14% bismuth and 0.37 gram gold from 67 metres down-hole.

– Hole 70 tested the western portion of the deposit, cutting 0.28% tungsten trioxide, 0.35% copper, 0.18% bismuth and 0.67 gram gold over 8 metres from 162 metres down-hole.

The junior recently tabled a indicated resource of 12.3 million tonnes grading 0.43% tungsten trioxide, 0.26% copper, 0.12% bismuth and 0.31 gram gold for the deposit. Another 10.2 million tonnes grading 0.47% tungsten trioxide, 0.27% copper, 0.13% bismuth and 0.26 gram gold were placed in the inferred resource category. Updated estimates are expected in February 2002.

Mineralization on the property is hosted in skarns and pyrrhotite-rich retrograde equivalents.

Earlier this year, the Vietnamese government granted Tiberon an extended exploration licence over the project. The licence covers 47.9 sq. km, up from the original 32.2 sq. km, and includes the right to explore and exploit gold in addition to polymetallic resources.

Drilling is now complete on the Nui Phao deposit, and the rigs have moved over to the Nui Chiem prospect, where three holes are to be sunk. The Nui Chiem prospect, 1.5 km north of Nui Phao, hosts a strong geophysical anomaly with a 900-metre strike length that remains open to the north and west; it is associated with a coincident copper and gold-in-soil anomaly and with silicious pyritic rock float. Chip samples from the more gossanous specimens returned up to 1.8 parts per million gold, 5,100 ppm bismuth and 1,900 ppm copper.

Previously, two vertical holes were drilled into the prospect with a small portable scout drill. Hole 6 hit fresh rock at a depth of 53 metres but was unable to penetrate it to any significant extent. The other hole intersected only highly weathered material. Tiberon considers the target a possible copper-gold skarn.

Tiberon holds a 70% interest in the Nui Phao project, with the remainder held by Vietnamese parties.

The property is in Thai Nguyen province, 90 km north of Hanoi.

Visionary Mining (VIN-V) has changed its name to Nu-Vision Resource (NVC-V) on a 1-new-for-12-old-share basis.