Microsoft Word - 20160706 ASX announcement - cobalt viability study.docx
ABN 52 077 110 304
7 July 2016
TIGER EXAMINES VIABILITY OF COBALT PRODUCTION AT KIPOI
Perth, Western Australia: Tiger Resources Limited (ASX: TGS) ("Tiger") is pleased to announce it has commissioned a study by independent consultant, Mintrex Pty Ltd to investigate the economic viability of producing cobalt at its Kipoi Project in the Democratic Republic of Congo (DRC).
Tiger has a resource of 40,400 tonnes of Measured and Indicated and 5,600 tonnes of Inferred cobalt across the Kipoi Central, Kipoi North, Kileba and Judeira deposits at its Kipoi project. There are additional cobalt resources at the nearby Sase Central deposit, where Tiger has defined 5,000 tonnes of Indicated and 1,000 tonnes of Inferred cobalt. Appendix 1.
The Mintrex study is expected to take 3 months to complete and will examine Tiger's potential processing pathways, with Mintrex to recommend options for future metallurgical testwork.
Tiger Chief Executive Officer Michael Griffiths said the growing global demand for cobalt had encouraged the Company to examine if it could economically convert its resources to a saleable product.
"Cobalt is used in many industries, but its demand is increasing mostly due to its use in batteries and super alloys," he said.
"Tiger is in a position to capitalise on this with our known resource at Kipoi and a strong operating and production record."
Tiger currently produces ~26,000 tonnes of copper cathode per year from the Kipoi project and is currently undertaking debottlenecking works at the plant to increase production capacity at Kipoi to 32,500 tonnes per year.
For further information in respect of the Company's activities, please contact:
Michael Griffiths Chief Executive Officer Tel: (+61 8) 6188 2000
Email: [email protected]
Nathan Ryan
Media
Tel: (+61 0)420 582 887
Email: [email protected]
Company website: www.tigerresources.com.au
Caution Regarding Forward Looking Statements and Forward Looking Information: Reports contain forward looking statements and forward looking information, which are based on assumptions and judgments of management regarding future events and results. Such forward-looking statements and forward looking information, including but not limited to those with respect to the operations of Stage 2 SXEW plant at Kipoi Central, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the actual market prices of copper, cobalt and silver, the actual results of current exploration, the
Level 1, 1152 Hay Street, West Perth, WA 6005 - PO Box 379, West Perth, WA 6872
T: +61 (0)8 6188 2000 F: +61 (0)8 6188 2099 E: [email protected] W: www.tigerresources.com.au
availability of debt financing, the volatility in global financial markets, the actual results of future mining, processing and development activities and changes in project parameters as plans continue to be evaluated.
Appendix 1
The information in this report that relates to the Mineral Resources was first reported by the Company in compliance with JORC 2012 in market releases dated as follows:
Kipoi Central, Kipoi North and Kileba Mineral Resources - 16 April 2015; and Sase Central Mineral Resource - 12 July 2013.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the market announcements referred to above and further confirms that all material assumptions and technical parameters underpinning the mineral resource estimates contained in those market releases continue to apply and have not materially changed.
KIPOI COPPER PROJECT, KATANGA PROVINCE, SOUTH-EAST DEMOCRATIC REPUBLIC OF CONGO (TIGER 95% AT 31 March 2016)
Table A: Kipoi Mineral Resource
|
Kipoi Mineral Resource
Mining depleted to 31 December 2015
Kipoi Central grade tonnage reported above a cut off of 0.3% Copper
Kileba, Kipoi North and Judeira grade tonnage reported above a cut off of 0.5% Copper
|
|
Tonnes Cu Grade
Classification Deposit
(MT) (%)
|
Co Grade (%)
|
Copper (000'T)
|
Cobalt (000'T)
|
|
Measured
|
Kipoi Central
|
5.9
|
2.3
|
0.14
|
136
|
8.1
|
|
Indicated
|
Kipoi Central
|
40.4
|
1.1
|
0.06
|
443
|
25.9
|
|
Indicated
|
Kipoi North
|
4.0
|
1.3
|
0.05
|
54
|
1.8
|
|
Indicated
|
Kileba
|
8.6
|
1.5
|
0.05
|
128
|
4.6
|
|
Total Measured &
|
Indicated
|
58.9
|
1.3
|
0.07
|
761
|
40.4
|
|
Inferred
|
Kipoi Central
|
2.9
|
0.8
|
0.07
|
23
|
2.1
|
|
Inferred
|
Kipoi North
|
1.0
|
1.1
|
0.03
|
12
|
0.4
|
|
Inferred
|
Kileba
|
2.2
|
1.2
|
0.04
|
27
|
0.9
|
|
Inferred
|
Judeira
|
6.1
|
1.2
|
0.04
|
71
|
2.2
|
|
Total Inferred
|
12.2
|
1.1
|
0.05
|
133
|
5.6
|
|
|
|
Total
|
71.1
|
1.3
|
0.06
|
894
|
46.0
|
LUPOTO COPPER PROJECT, KATANGA PROVINCE, SOUTH-EAST DEMOCRATIC REPUBLIC OF CONGO (TIGER 95%)
Table B: SASE Central Mineral Resources
|
SASE Central Mineral Resources July 2013
Grade tonnage reported above a cut off of 0.5% Copper
|
|
Tonnes Cu Grade
Classification
(MT) (%)
|
Co Grade (%)
|
Copper (000'T)
|
Cobalt (000'T)
|
|
Indicated
|
9.6
|
1.39
|
0.05
|
134.0
|
5.0
|
|
Inferred
|
2.8
|
1.21
|
0.03
|
34.0
|
1.0
|
2|P a g e