Vancouver — The latest results from an ongoing drill program over the Nui Phao property in Vietnam continue to yield promising tungsten-bismuth-copper-gold values for Calgary-based junior Tiberon Minerals (TBR-V).
Hole NP-34 was collared 100 metres west and 50 metres north of the previous drilling. It returned 28 metres grading 0.51% tungsten trioxide, 0.33% copper, 0.27% bismuth and 1.08 grams gold per tonne from 153 metres down-hole.
Some 35 metres south of hole NP-5 (79 metres grading 0.39% tungsten trioxide, 0.23% copper, 0.13% bismuth and 0.4 gram gold), hole NP-36 cut two zones ranging up to 0.33% tungsten trioxide, 0.21% copper, 0.1% bismuth and 0.3 gram gold over 112 metres from 40 metres down-hole.
Holes NP-35 and NP-37 tested the northern edge of the mineralizing system in the Da Lien granite.
Hole NP-35 cut two zones, including 0.31% tungsten trioxide, 0.2% copper, 0.07% bismuth and 0.26 gram gold over 20 metres from 93 metres down-hole.
Hole NP-37 cut 4 metres grading 0.34% tungsten trioxide, 0.34% copper, 0.03% bismuth and 0.04 gram gold from 37 metres down-hole.
Tiberon is encouraged that the mineralization continues into the granite body. Based on geophysical data, the system probably ends 50 metres north of holes NP-35 and NP-37.
The encouraging results have prompted the junior to add an additional 6,000 metres of drilling to the current program.
“The majority of this program will be utilized on delineation holes,” says Loren Komperdo, Tiberon’s president. “The balance will be used on other target areas of the Nui Phao project.”
Designed to test the grade, width and continuity of a zone previously identified by the Geological Survey of Vietnam, the drill program covers a 2-km-long geophysical anomaly.
In addition to the drilling, Tiberon is nearing completion of metallurgical scoping tests. “The study will characterize the separability of the ore,” says Komperdo.
Mineralization on the property is hosted in skarns and pyrrhotite-rich retrograde equivalents
In March 1999, Tiberon and Vietnam Resources Corporation settled all outstanding litigation concerning the Nui Phao project.
Under the terms of the settlement, Vietnam Resources relinquished all rights to the property in return for 1 million shares of Tiberon. The companies have released each other from all claims or actions.
Tiberon now has a 70% interest in the Nui Phao project. The other 30% is held by Vietnamese parties.
The 32.1-sq.-km Nui Phao Exploration License is located in Thai Nguyen Province of northern Vietnam and is 90 km north of Hanoi.
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