Vancouver — Calgary-based
The latest holes, 32 and 33, were collared in the Central zone as infill holes to help delineate a tungsten resource minable by open-pit methods. Both holes were drilled vertically. Hole 32 was drilled 60 metres southwest of previously reported hole 27 (77 metres grading 0.31% tungsten trioxide followed by 46 metres of 0.63% tungsten trioxide).
Hole 32 intersected 40 metres grading 0.41% tungsten trioxide, 0.22% copper, 0.11% bismuth and 8.2% fluorite, plus 0.28 gram gold per tonne, starting at a depth of 37 metres. Included was an 8-metre interval grading 0.75% tungsten trioxide, 0.28% copper, 0.13% bismuth, 4.4% fluorite and 0.38 gram gold.
Farther down-hole, a 28-metre interval cut 0.33% tungsten trioxide, 0.12% copper, 0.05% bismuth, 10.6% fluorite and 0.17 gram gold. This included a 6-metre section of 0.5% tungsten trioxide, 0.14% copper, 0.08% bismuth, 15.8% fluorite and 0.17 gram gold.
Hole 33 was collared 200 metres west of hole 18 (16 metres averaging 0.9% tungsten trioxide) and returned the following intercepts starting at a down-hole depth of 27 metres:
– 6.2 metres grading 0.69% tungsten trioxide, 0.41% copper, 0.17% bismuth, 1.7% fluorite and 0.48 gram gold;
– 8 metres grading 0.59% tungsten trioxide, 0.3% copper, 0.07% bismuth, 5.2% fluorite and 0.18 gram gold;
– 2 metres of 1% tungsten trioxide, 0.38% copper, 0.19% bismuth, 14.2% fluorite and 0.5 gram gold;
– 14 metres grading 0.51% tungsten trioxide, 0.34% copper, 0.14% bismuth, 4.8% fluorite and 0.4 gram gold; and
– 44 metres averaging 0.51% tungsten trioxide,, 0.13% copper, 0.11% bismuth, 11.4% fluorite and 0.34 gram gold.
Hole 30 was drilled 200 metres east-southeast of hole 26 (20 metres averaging 1.11% tungsten trioxide). Only minor tungsten mineralization was encountered and no grades above 0.3% tungsten trioxide were encountered.
“We’ll be moving the drill rigs into the rice fields and basically continuing our delineation of the Central zone,” says Tiberon Vice-President Kevin Flaherty. A fifth drill rig is being added to increase the pace of delineation drilling.
Over the past year, drilling has investigated a large geophysical anomaly. Dubbed the Da Lien prospect, it extends for 2 km in an east-west direction and is roughly 600 metres wide. The Central zone, which measures 200 metres wide, carries the highest grades and thickest drill intercepts discovered to date.
A paved road, railroad and a high-voltage powerline run through the middle of the Nui Phao project property.
A scoping study is being conducted by Thibault & Associates, and bench-scale metallurgical work is expected to begin once the scoping study is completed. The company expects to launch a prefeasibility study later, after it has released a resource estimate.
Tiberon is well-financed, having raised $3.7 million in 2000. An additional $1 million has been raised this year through the exercise of warrants.
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