Tiberon continues to define Nui Phao

Vancouver — Tiberon Minerals (TBR-V) continues to delineate tungsten mineralization at its Nui Phao project in northern Vietnam.

The latest results include an 85.2-metre section, in hole 46, that runs 0.34% tungsten trioxide, 0.23% copper, 0.12% bismuth, 11% fluorite and 0.34 gram gold per tonne. Lower down in the hole, a 4-metre section averaged 1.21% tungsten trioxide, 0.1% copper, 0.04% bismuth and 0.16 gram gold.

Another hole that warrants inspection is no. 42; it was collared in the central gossan area and cut 84 metres of mineralization in five sections, starting from surface.

The first 28 metres averaged 0.5% tungsten trioxide, 0.29% copper, 0.24% bismuth and 0.54 gram gold per tonne. This was followed by a 10-metre section that averaged 0.31% tungsten trioxide, 0.45% copper, 0.19% bismuth, 2.7% fluorite and 0.38 gram gold from a down-hole depth of 40 metres. The next zone cut 8 metres grading 0.35% tungsten trioxide, 0.19% copper, 0.12% bismuth, 6.9% fluorite and 0.24 gram gold starting at 58 metres down-hole. The fourth zone hit 34 metres grading 0.46% tungsten trioxide, 0.32% copper, 0.17% bismuth, 6.1% fluorite and 0.62 gram gold, starting at a depth of 102 metres down-hole. This zone included a 6-metre interval that averaged 0.91% tungsten trioxide. The last zone cut 4 metres of 0.44% tungsten trioxide, 0.14% copper, 0.03% bismuth, 9.3% fluorite and 0.14 gram gold.

Moving 120 metres to the south, hole 44 cut three zones of mineralization totalling 24 metres, the longest of which measured 16 metres and averaged 0.36% tungsten trioxide, 0.36% copper, 0.15% bismuth, 7% fluorite and 0.39 gram gold, starting from 26.1 metres down-hole. The highest grade tungsten encountered in the hole assayed 0.93% tungsten trioxide over a 4-metre interval, starting at 134.8 metres down-hole.

Hole 45 was drilled 20 metres west of hole 40 (no significant mineralization) and cut three zones of mineralization totalling 20 metres. The highest-grade tungsten interval spanned 6 metres and averaged 1.54% tungsten trioxide, 0.38% copper, 0.14% bismuth, 6.3% fluorite and 0.38 gram gold.

Collared 32 metres west of no. 46, hole 48 hit four zones of mineralization totalling 52 metres. The longest interval was a 30-metre section running 0.4% tungsten trioxide, 0.16% copper, 0.04% bismuth, 11.2% fluorite and 0.16 gram gold starting at 73 metres down-hole. The highest-grade tungsten interval in the hole averaged 0.54% tungsten trioxide, 0.14% copper, 0.05% bismuth, 6.8% fluorite and 0.11 gram gold.

The drill program is designed to test the grade, width and continuity of a zone previously identified by the Geological Survey of Vietnam. It is continuing over the 2-km-long geophysical anomaly.

In addition to the drilling, Tiberon is moving ahead with a metallurgical bench-scale test. Vancouver-based Process Research Associates has been awarded the contract, which is aimed at evaluating the mineral-processing options for the tungsten-bearing rocks.

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

In March 1999, the junior settled all outstanding litigation with Vietnam Resources with regard to the Nui Phao project. Vietnam Resources relinquished all rights to the property in return for 1 million shares of Tiberon. At the same time, Tiberon and Vietnam Resources have released each other from all claims or actions.

Tiberon now has a 70% interest in the Nui Phao project, with the remainder held by Vietnamese parties. The 32.1-sq.-km Nui Phao Exploration Licence is in Thai Nguyen province of northern Vietnam and is 90 km north of Hanoi.