Mr. Patric Barry reports
TIGER GRANTED GOVERNMENT LICENSE OVER PHILIPPINE GOLD AND COPPER AREA
Tiger International Resources Inc. has been issued EP 0006 by the Philippines Department of Mines and Geosciences Bureau with management attending the signing ceremony in Baguio, Republic of the Philippines, last week.
Tiger intends to conduct additional drilling in order to expand prior resource estimates. The location is in the Baguio gold belt, an established area of mineralization in the north of Luzon, and where folding and faulting has moved the vein complex to an angle of about 70 degrees. Prior drilling established a resource estimate which was determined by vertical drilling and trenching, such a technique missing much of the vein complex on the project. By conducting 45-degree-angle drilling, Tiger expects to develop a three-dimensional view of the gold vein structure which, with data derived from prior exploration, will lead to a new resource estimate in time.
Tiger plans to update the existing NI 43-101 report on the project and will commence drilling later in the year. Planned will be the angle drilling of the gold complex and one of more deep holes to test for occurrence of copper porphyry at depth. The Philex gold and copper mine, the largest mine in the Philippines, lies three kilometres from this project, and the same trends that created the resource for Philex likely exist on this project. Should porphyry exist at depth, the gold mining program will be designed so as to remove overburden, thus granting access to the copper porphyry for mining.
Patric Barry, president of Tiger International, comments: "The approval of this licence after five years of application puts a project of magnitude in the company, and I am optimistic that this will again be a producing mine. It was in production prior to World War 2 when the Japanese invasion halted all mining, and current mining technology further enhances its economic potential."
He also said: "Prior drilling and resource estimates were conducted before present NI 43-101 standards were mandated. Thus no resource estimates are published and will be determined following the drilling program outlined above."