Microsoft Word - TGR news release 19 October 2015-1.docx
TIGER INTERNATIONAL RESOURCES, INC. (TGR.V)
NEWS RELEASE - October 19th, 2015
TSX-V: TGR US OTC: TGILF
UPDATE RE ITOGON GOLD PROJECT
TIGER INTERNATIONAL RESOURCES, INC. (TGR.V) is pleased to provide the following update regarding the Itogon gold project, Philippines.
Update on NI43-101 Report
As previously announced, an NI43-101 compliant resource estimate and technical report (together, the 'Report') is being prepared for the Itogon project. The Directors expect the Report to be completed, announced and made available on ECR's website later this month.
In addition to a resource estimate in respect of the supergene enriched gold oxide blanket which occurs from surface in the main prospect area at the Itogon project, the Report will contain an estimate of the potential quantity and grade, expressed as ranges, of a target for further exploration. This target will be in respect of the intermediate sulphidation epithermal vein system which continues below the oxide blanket.
These veins are typical of the gold-rich vein-hosted mines of the Baguio Mining District, where the Itogon project is
located. Up to five steeply dipping, intermediate sulphidation veins have been identified in the main prospect area at Itogon. Individual quartz-sulphide veins are up to several metres wide, and exploration results to date suggest that bonanza ore shoots are likely to be present within the vein system.
Almost 100 rock chip grab samples of vein material have been collected, cut into slabs and assayed for the purposes of preparing the Report. A significant number of samples have returned grades of 15-30 g/t gold, 2-3 oz/t silver and several per cent combined base metals. A small number of samples assayed over 100 g/t gold. Full results of this sampling programme will be disclosed in the Report.
It should be noted that a target for further exploration, although permitted to be disclosed under NI43-101, is not a resource estimate, is conceptual in nature, and is used where there has been insufficient exploration to define the target as a mineral resource and where it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Application for Renewal of Exploration Permit
As announced by the Company on 22 November 2013, the Exploration Permit (the 'EP') pertaining to the Itogon project was renewed with a date of 1 October 2013 for
a two year term (having originally been issued with a date of 15 February 2011 for an initial two year term). Therefore, the most recent term of the EP expired on 30 September 2015. Accordingly, an application for renewal of the EP for a further (third) two year term has been lodged with the Mines & Geosciences Bureau in the Philippines. The Directors expect that the EP will be renewed for a third two year term in due course.
QUALIFIED PERSON
Dr Chris Wilson PhD, a Fellow (Chartered Professional - Geology) in good standing of The Australasian Institute of Mining and Metallurgy ('AusIMM') and a Fellow of the Society of Economic Geologists ('SEG'), 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.
Dr Wilson's standing and membership designation with respect to AusIMM and the SEG, 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. Dr Wilson, through Exploration Alliance SA, is an independent geological consultant to ECR and has no other relationship of any kind with ECR. Dr Wilson 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 District 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 (permit currently subject to an application for renewal).
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]