Tiberon cuts new zone at Nui Phao

Recent drilling by Tiberon Minerals (TBR-V) on the Nui Phao tungsten project in Vietnam has turned up a new style of mineralization.

Hole NP-98, drilled at 60 to the south, cut 17.6 metres of tungsten and fluorite mineralization within the Da Lien granite.

The hole yielded 8 metres (from 41 metres below surface) grading 0.3% tungsten trioxide 0.07gram gold per tonne, 0.02% each of copper and bismuth plus 10.9% fluorite. A lower 9.6-metre interval returned 0.46% tungsten trioxide, 0.04 gram gold, 0.06% copper, 0.01% bismuth and 24.5% fluorite starting at 53 metres. The mineralization differs from that found in the main deposit 40 metres away in that it exhibits lower sulphide content.

The new zone is separated from the main zone by unmineralized granite. Tiberon will now focus on a program of geological and geochemical review of the Da Lien granite since the low sulphide content would produce a poor geophysical signature.

The remaining six infill holes confirm previous results and, especially in hole NP-96, demonstrate the importance of secondary credits at Nui Phao. Hole 96 cut four separate intervals running up to 0.68% tungsten trioxide, 0.44 gram gold, 0.64% copper, 0.4% bismuth and 18% fluorite.

At last report, Nui Phao’s indicated resource stood at 12.3 million tonnes grading 0.43% tungsten trioxide, 0.31 gram gold, 0.26% copper and 0.12% bismuth. In addition, 10.2 million tonnes grading 0.47% tungsten trioxide, 0.26 gram gold, 0.27% copper and 0.13% bismuth were placed in the inferred resource category. An updated resource is expected by February.

Some 1.5 km to the north, Tiberon has completed a 3-hole, 702-metre initial drill program on the Nui Chiem prospect. The holes tested a 900-metre-long, strong geophysical anomaly coincident with gold, copper and zinc soil anomalies at the northwest contact of the Da Lien granite. The zone remains open to the north and west. Assay results are pending.

Previously, chip samples from gossanous specimens at Nui Chiem returned up to 1.8 parts per million gold, 5,100 ppm bismuth and 1,900 ppm copper.

Tiberon holds a 70% interest in the Nui Phao project, with the remainder held by Vietnamese parties.