Tiberon sizes up resource in Vietnam

Vancouver — With five rigs turning on the Nui Phao tungsten-bismuth-copper-gold property in northern Vietnam, Tiberon Minerals (TBR-V) is preparing to calculate a preliminary resource.

So far, the Calgary-based junior has drilled more than 100 holes on the project, which comprises 32 sq. km about 90 km north of Hanoi. The program is testing the grade, width and continuity of a mineralized zone over a 2-km-long geophysical anomaly identified by the Geological Survey of Vietnam. Mineralization is hosted in skarns and pyrrhotite-rich retrograde equivalents.

Tiberon is also proceeding with a metallurgical bench-scale test, which entails evaluating mineral processing options for the tungsten-bearing rocks. Results are expected early next year.

Tiberon will next drill 2-4 holes at the Nui Chiem prospect, 1.5 km north of Nui Phao. The prospect hosts a strong geophysical anomaly with a 900-metre strike length that remains open to the north and west; it is associated with a coincident copper and gold-in-soil anomaly and with silicious pyritic rock float. Chip samples from the more gossanous specimens returned up to 1.78 parts per million gold, 5,100 ppm bismuth and 1,900 ppm copper.

Previously, two vertical holes were drilled into the prospect with a small portable scout drill. Hole 6 hit fresh rock at a depth of 53 metres but was unable to penetrate it to any significant extent. The other hole intersected only highly weathered material. Tiberon considers the target a possible copper-gold skarn.

Results from recent drilling at Nui Phao are shown in the accompanying table. All the holes were drilled vertically except for no. 62, which was collared at minus 75 to the north.

HoleFrom-ToIntervalTungstenGoldCopperBismuthFluorite