Having terminated all work programs in Vietnam,
The 42-claim Ruby property is in the Tertiary Bennett complex, which is host to numerous mineral showings in the Yukon and neighboring British Columbia.
Previous work resulted in the discovery of several zones of high-grade, fault-controlled silver-gold vein mineralization. The two main targets, the Connie and Steve veins, were sampled by a previous operator in 1988.
The Steve vein was continually chip-sampled in three places along 35 metres of the vein’s known 90-metre strike length. The three sites returned grades averaging 2,920 grams silver and 7.1 grams gold per tonne over a 1.9-metre width.
The Connie vein, 49 metres east of Steve, was discontinuously traced over a 146-metre strike length before being obscured by talus. Assays for four continuous chip samples returned an average of 3,359 grams silver and 0.7 gram gold over a width of 2.1 metres.
This summer, Tiberon plans to carry out mapping, sampling and an induced-polarization survey, followed by drilling of the two mineralized veins.
No further work is planned for the company’s projects in Vietnam. The option agreement for the Coi Ky silver-lead-zinc project has been dropped, while work at Nui Phao (tin-copper-silver-gold) has been stalled by a legal dispute with Vietnam Resources. Tiberon has asked the court to rescind a 1997 letter agreement between the partners, owing to an alleged failure to meet obligations of that agreement. Vietnam Resources has countersued.
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