Tiberon continues to expand Nui Phao deposit

Vancouver — Assay results from 11 step-out holes have expanded Tiberon Minerals’ (TBR-V) Nui Phao tungsten deposit to the east west and south.

Tiberon recently finished a 111-hole drilling campaign which included eight large-diameter metallurgical holes on its Nui Phao deposit, 90 km north of Hanoi, Vietnam. Assay results for the last 11 holes are expected early in the new year. The current indicated resource stands at 12.3 million tonnes grading 0.43% tungsten trioxide, 0.31 gram gold, 0.26% copper and 0.12% bismuth. Another 10.2 million tonnes grading 0.47% tungsten trioxide, 0.26 gram gold, 0.27% copper and 0.13% bismuth was placed in the inferred resource category. Tiberon reports that bench scale metallurgical test work is slated to be finished in January and an updated resource is expected by February.

Highlights from the step-out holes are as follows:

• Hole NP-81a cut three intervals of mineralization. The longest one cut 15.0 metres grading 0.52% tungsten trioxide, 0.71 gram gold, 0.37% copper, 0.27% bismuth and 13.2% fluorite, starting at a depth of 119 metres.
• Hole NP-83 intersected 15.1 metres grading 0.35% tungsten trioxide, 0.26 gram gold, 0.23% copper, 0.11% bismuth and 11.1% fluorite, starting 98.0 metres down-hole.
• Hole NP-85 intersected 17.6 metres grading 0.37% tungsten trioxide, 0.45 gram gold, 0.31% copper, 0.17% bismuth and 10.8% fluorite, starting 16.4 metres down-hole.
• Hole NP-86 cut 22.8 metres grading 0.06% tungsten trioxide, 0.42 gram gold, 0.54% copper, 0.30% bismuth and 10.3% fluorite, at a depth of 63.2 metres.
• Hole NP-87 intersected 20.0 metres grading 0.29% tungsten trioxide, 0.49 gram gold, 0.59% copper, 0.31% bismuth and 13.7% fluorite, at a depth of 116.0 metres.
• Hole NP-88 intersected three intervals of mineralization, the longest cut a 13.1-metre interval that averaged 0.39% tungsten trioxide, 0.18 gram gold, 0.12% copper, 0.10% bismuth and 14.5% fluorite, starting at a depth of 50.0 metres.
• Hole NP-90 intersected 41.2 metres grading 0.30% tungsten trioxide, 0.54 gram gold, 0.31% copper, 0.19% bismuth and 10.2% fluorite, starting at a depth of 44.3 metres down-hole.
• Hole NP-92 intersected four intervals of mineralization starting at a depth of 53.0 metres; the first cut 5.0 metres grading 0.45% tungsten trioxide, 0.31 gram gold, 0.27% copper, 0.14% bismuth and 10.5% fluorite. The second cut 4.0 metres averaging 0.54% tungsten trioxide, 0.48 gram gold, 0.33% copper, 0.15% bismuth and 9.9% fluorite. The third cut 4.0 metres of 0.30% tungsten trioxide, 0.36 gram gold, 0.23% copper, 0.13% bismuth and 9.9% fluorite. The last interval cut 4.9 metres averaging 0.30% tungsten trioxide, 0.30 gram gold, 0.22% copper, 0.13% bismuth and 10.0% fluorite.

The junior explorer has now focused its efforts on the Nui Chiem prospect, 1.5 km north of Nui Phao. Nui Chiem is host to 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.