Vancouver Results from an ongoing drill program have prompted Tiberon Minerals (TBR-V) to expand its land holdings around the Nui Phao tungsten project in Vietnam.
The junior started drilling the property in September of last year and expects to table a resource estimate by November. This will be followed by metallurgical test results early next year.
The drill program continues to outline the grade, width and continuity of a zone previously identified by the Geological Survey of Vietnam.
Mineralization on the property is hosted in skarns and pyrrhotite-rich retrograde equivalents.
The Vietnamese government has granted Tiberon an extended exploration license over the project. The new license covers 47.9 sq. km, up from the original 32.2 sq. km, and includes the right to explore and exploit gold in addition to polymetallic resources.
Based on the inclusion of gold, Tiberon will begin work on a previously identified copper-gold target.
In March 1999, the junior settled all outstanding litigation with Vietnam Resources with regard to Nui Phao.
Vietnam Resources relinquished all rights to the property in return for 1 million shares of Tiberon. Tiberon and Vietnam Resources have released each other from all claims or actions.
Tiberon now has a 70% interest in the project. The remainder is held by Vietnamese parties.
The 32.1-sq.-km Nui Phao Exploration Licence is in Thai Nguyen province of northern Vietnam and is 90 km north of Hanoi.
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