Microsoft Word - TGR news release 12 March 2015-1.docx
TIGER INTERNATIONAL RESOURCES, INC. (TGR.V)
NEWS RELEASE - MARCH 12th, 2015
TSX-V: TGR
US OTC: TGILF
UPDATE ON EXPLORATION AT ITOGON GOLD PROJECT
TIGER INTERNATIONAL RESOURCES, INC. (TGR.V) is pleased to provide the following update on activities at the Itogon gold project, Philippines.
The Itogon project is 100% held by Tiger International's Philippine subsidiary Cordillera Tiger Gold Resources, Inc. ("Cordillera Tiger") under an exploration permit granted by the Philippine government.
ECR Minerals plc ("ECR") of London, United Kingdom has the right to earn a
50% interest in the Itogon project and is currently the operator of the project, through Cordillera Tiger. The text below is excerpted from a news release by ECR made March 12th, 2015. A copy of the full ECR news release may be obtained from www.ecrminerals.com
- Excerpt begins -
Progress of Drilling
Three diamond drill holes (EDD001, EDD002 and EDD003) have been completed since the current drilling programme commenced on 22 January
2015. A fourth hole, EDD004, is more than three quarters complete.
EDD004 did not form part of the programme as initially planned and as announced by the Company on 22 December 2014, but has been designed subsequently to follow up positive indications from the logging of core from EDD002.
Following completion of EDD004, the drill rig will be moved to the ERC002 drill pad. There it is planned that the rig will attempt to extend ERC002 and intercept a structure which was intercepted at depth by EDD002 and which is thought to be of geological significance.
ERC002 is a 150m reverse circulation (RC) hole drilled in April 2014 as part of ECR's first drilling programme at Itogon. ERC002 returned wide intercepts at depth (15m at 3.29g/t gold from 82m, with 2m at 18.25g/t from 92m; and 17m at 1.57g/t gold from 101m, with 3m at 5.45g/t gold from 103m).
Excluding EDD004, 439.5m has been drilled to date in the current programme, as summarised in Table 1 below. The target depth of EDD004 is
120m. The Company therefore remains well within its budgeted number of metres for this programme (990m).
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Table 1:
2015 Diamond Drilling at Itogon Gold Project, Philippines
Holes Completed to 12 March
2015
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|
Hole
ID
|
Plan
ID*
|
Depth
|
|
EDD001
|
Plan
001
|
206.3
|
|
EDD002
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Plan
025
|
112.0
|
|
EDD003
|
Plan
015
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121.2
|
|
EDD004
|
n/a
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Target 120m
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* Refers to designation in ECR's announcement dated 22 December 2014
Decisions regarding further drilling in the current programme will be made on the basis of evolving geological interpretations and assay results as they become available.
Core samples from EDD001 and EDD002 are at ECR's chosen independent laboratory for analysis. Core samples from EDD003 will be despatched to the laboratory shortly.
Images of the current drilling programme at Itogon may be viewed at:
http://www.ecrminerals.com/itogon-drilling-mar2015
Channel Sampling Results
A vein striking approximately NW and dipping approximately 45 degrees to the SW was exposed in the preparation of the EDD002 drill pad. The vein was sampled over 10m of strike using six 1m channel samples, each 2m apart.
Assay results from the six channel samples are reported in Table 2 below. The directors of ECR consider the grades to be encouraging.
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Table 2:
February 2015 Channel Sampling on EDD002 Drill Pad
Itogon Gold Project, Philippines
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|
From
(m)
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To
(m)
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Apparent
Width
(m)
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Grade
(g/t gold)
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|
0.0
|
1.0
|
1.0
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2.97
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|
0.0
|
1.0
|
1.0
|
0.61
|
|
0.0
|
1.0
|
1.0
|
1.63
|
|
0.0
|
1.0
|
1.0
|
0.93
|
|
0.0
|
1.0
|
1.0
|
14.62
|
|
0.0
|
1.0
|
1.0
|
7.83
|
Stephen Clayson, Chief Executive Officer of ECR, commented:
"Today's announcement is intended to keep shareholders up to date with progress at Itogon, and I hope illustrates the great effort being focused on the current drilling programme to ensure that maximum effect is obtained. We look forward to reporting material results of drilling when they are available."
QA/QC
Sampling was carried out under geological supervision. A secure chain of custody was maintained in the transport and storage of all samples, which were shipped to and analysed by Intertek Testing Services Philippines, Inc. ("Intertek"), an internationally accredited independent analytical laboratory in Metro Manila.
Upon arrival at Intertek samples were sorted, dried, crushed, split, and a fraction was pulverised. The method of analysis for gold was fire assay (50g charge) with AAS finish.
QA/QC measures including the use of blanks and standards were implemented by Intertek in relation to the analysis of the samples. The assay data reported is considered acceptable in the context of these measures.
Assay values have been expressed in this announcement as g/t (grams per tonne) gold but are received from the laboratory expressed as ppm (parts per million) gold. For the purposes hereof ppm gold and g/t can be considered equivalent.
- Excerpt ends -
QUALIFIED PERSON
Andrew Tunningley, a Member (Chartered Professional - Geology) in good standing of The Australasian Institute of Mining and Metallurgy ("AusIMM"), is responsible for the work programme being implemented on the Itogon project by ECR and has supervised the preparation of (and in doing so has verified) and approved all technical information contained in this news release.
Mr Tunningley's standing and membership designation with respect to AusIMM, and the nature and extent of his experience which is relevant to the style of mineralisation and type of deposit under consideration at the Itogon project and to the activity which he is undertaking in relation thereto, enable him to qualify for the purposes of this news release as a Qualified Person as defined in Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr Tunningley is an independent geological consultant to ECR and has no other relationship of any kind with ECR. Mr Tunningley has no relationship of any kind with Tiger International.
ABOUT TIGER INTERNATIONAL
Tiger International is a Canadian resource exploration and development company. The Itogon gold project is located in an established gold mining district known as the Baguio Gold Belt on the island of Luzon in the north of the Philippines, and benefits from an extensive historical dataset.
The Itogon project is 100% held by Tiger International's Philippine subsidiary Cordillera Tiger Gold Resources, Inc. under an exploration permit granted by the Philippine government.
ECR Minerals plc of London, United Kingdom has the right to earn a 50% interest in the Itogon project and is currently the operator of the project, through Tiger International's Philippine subsidiary Cordillera Tiger.
FOR FURTHER INFORMATION PLEASE CONTACT:
Patric Barry, President, Tiger International Resources, at (949) 362.1600 or by email to [email protected]