Tiger Resources Limited Increases Mining Interests In The Democratic Republic Of The Congo Says CEO David Zukerman
Perth-based junior explorer Tiger Resources Limited (ASX: TGS) has made a second investment in the world class Zambia Congo Copper Belt located in the Katanga Province in the southern region of the Democratic Republic of Congo (DRC).
(PRWEB) October 4, 2005 -- Perth-based junior explorer Tiger Resources Limited (ASX: TGS) has made a second investment in the world class Zambia Congo Copper Belt located in the Katanga Province in the southern region of the Democratic Republic of Congo (DRC).
In another joint venture with Groupe Orgaman, a large Belgium owned Congolese trading house, Tiger will have the right to explore for and develop any mineral deposits discovered in an area of nearly 300 square kilometres located 65 kilometres southeast of the Shinkolobwe Uranium and Gold deposit.
"This is a very good partnership because it combines our exploration expertise with the capabilities of a local operator in a highly prospective area with the potential for significant uranium, copper, cobalt, gold and palladium discoveries," said Tiger Resources Executive Director, David Zukerman.
Tiger has been appointed technical manager of the project and will share all exploration expenditure and costs associated with initial exploration and preparation of a Bankable Feasibility Study on a 50/50 basis with Orgaman.
"This is a good deal because our initial upfront investment is only A$15,000 and yet the existing geological mapping of the area is very promising. For example, copper deposits at Lupoto located on the same mineralised trend within 10 kilometres of our tenement include estimates of nearly five million tonnes at 4.4 per cent copper," Mr Zukerman said.
Tiger and Orgaman will have a minimum exploration spend of US$250,000 for the first year followed by US$750,000 for the second 12-month period.
"This adds to and enhances our first investment at Kabolela where historical mining has produced nearly 440,000 tonnes of ore grading 4.84 per cent copper and 2.38 per cent cobalt," Mr Zukerman said.
About Tiger Resources Limited
Tiger Resources Limited is an early identifier of world-class mining deposits in emerging resource provinces around the globe.
About Orgaman
Groupe Orgaman has been operating in the Congo for over 70 years and has extensive interests in farming, agriculture, food production and distribution, transport, shipping, property development and resources. They are also the Congolese partners of ASX listed MOTO Gold Mines Limited (ASX:MOE, TSX:MGL) and the Tiger Resources Limited partnership represents the companys second investment in the world renowned Zambia Congo Copper Cobalt Belt.
Contact: Thomas Murrell, 8M Media & Communications +61 417 984 996 or Executive Director, David Zukerman on T: +61 8 9481 7833, M: +61 401 285 571.
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