Appendix 5B
Mining exploration entity quarterly report
http://www.asx.com.au/asxpdf/20110131/pdf/41whz3hmk6gkbd.pdf
http://www.asx.com.au/asxpdf/20110131/pdf/41whyx8vds055s.pdf
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www.tigerresources.com.au
31 January 2011
DECEMBER 2010 QUARTERLY ACTIVITIES REPORT
HIGHLIGHTS
Kipoi Copper Project – Stage 1 Development
 Commencement of mining operations
 Freighting of heavy media separation (HMS) plant to site
 Commencement of erection of the HMS plant
 Kipoi Stage 1 development progressed within budget and on schedule for plant commissioning in March 2011.
Kipoi Copper Project – Stage 2 Development
 Stage 2 SXEW scoping study progressing with planned completion in Q1 2011
 Drilling programme planned for 2011 to test targets for identification of additional resources for Stage 2 development
Lupoto Copper Project
 2,821m of reverse circulation and 891m of diamond drilling completed during the quarter at Sase Central, Sase South and Mwana East prospects
 Sase Central results received to date confirm existence of significant mineralisation
 Remaining results expected to be received from South African Laboratory in February.
 Sase Central maiden resource estimate planned for Q1 2011
 Significant new targets identified at Sase South and Mwana East
 Follow-up drilling programmes planned for 2011
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Emerging copper producer Tiger Resources Limited (ASX/TSX: TSG) is pleased to report its activities for the December 2010 quarter.
KIPOI COPPER PROJECT (Tiger 60%)
Kipoi Stage 1 Development
The Stage 1 development of the high-grade Kipoi Copper Project, located in the Democratic Republic of Congo’s Katanga copper belt, comprises an open pit mining operation with a crushing and heavy media separation (HMS) plant. The plant will produce a concentrate product averaging 25% copper which will be available for sale to local and export customers. Development activities progressed on time and within budget during the quarter.
Mining Contract
Mining contractor MCK Mining sprl (MCK) commenced mining operations during the quarter and has developed the Kipoi pit with ore exposed ready to feed the plant. During the quarter MCK also completed the access road, plant site earthworks, site establishment and equipment mobilisation. A total of 240,000t of waste material was mined during the quarter. No ore mining was undertaken.
Plant Construction and Installation
During the quarter DRA Mineral Projects (Pty) Ltd completed the design, procurement and infrastructure requirements for the plant. The plant was assembled in Johannesburg, before being disassembled into modules for transport to site. Freighting of the plant components to Kipoi and site erection commenced during the quarter.
Owner’s Works
Significant progress was made with owner managed works during the quarter:
 Refurbishment of the site-based mess and contractor facilities were completed;
 Mining department was established and managed the mining contractor;
 Heap leach pad and slimes dam construction commenced;
 Recruitment of operations personnel commenced;
 Fuel supply contract, catering and medical servicing contracts were finalised;
 The water supply dam was completed and filling commenced prior to the wet season.
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Development Schedule
The Kipoi Stage 1 development continues to make good progress with commissioning planned to commence in March 2011. All contractor and owner works are proceeding within scope, on-time and within respective budgets.
Kipoi Stage 2 Development
Stage 2 SXEW Development Study
Tiger appointed ARCCON, an experienced engineering group based in Perth, to complete an initial study to define the scope and size of a conceptual Stage 2 SXEW operation to produce LME grade copper cathode at Kipoi.
Progress during the quarter included the completion of the life of mine plan schedule, plant design and sizing. Finalisation of costing is expected to be completed during Q1 2011. Under current planning the SXEW facility would have a life exceeding ten years with production scaling up to 50,000tpa of copper metal.
Near Mine Exploration at Kipoi
Exploration plans have been developed to test targets within the Kipoi mining lease that have potential to provide additional feed to the planned infrastructure. Tiger intends to commence drilling of these targets during Q1 2011. The on-site sample preparation facility at Kipoi has been re-commissioned and is currently in use for preparation of samples generated by exploration activities.
LUPOTO PROJECT (100%)
An air core program of 536m, RC drilling program of 2,821m and diamond drilling program of 891m was carried out at Lupoto during the December quarter.
This included an extension and in-fill drilling program at Sase Central, a prospect within the Lupoto licence area.
First assay results received include the following significant intersections:
 48m @ 2.11% Cu intersected in hole SASRC001
 32m @ 1.10% Cu intersected in hole SASAC442
 10m @ 2.10% Cu intersected in hole SASAC443
 35m @ 1.18% Cu intersected in hole SASAC446
Holes SASRC001, SASAC442 and SASAC446 ended in mineralisation.
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The drilling programme successfully extended the strike length and width of mineralisation at Sase Central. Mineralisation is now delineated over a strike length of 700m and with a width extent of up to 300m. Mineralisation remains open along strike and at depth.
Receipt of final results of the drilling program has been delayed through hold-ups in clearing the samples through customs at the South African border. Assay results from the ALS Laboratory in Johannesburg are now expected to be received and available for release during February 2011.
A maiden resource estimate for Sase Central is currently being estimated by geological resource consultants Cube Consulting and is scheduled for completion during Q1 2011.
New targets were discovered using through soil sampling. The new targets, Sase South and Mwana East, will be subject to further investigation in 2011.
CORPORATE
Cash on hand at the end of the quarter was A$13.3 million (US$13.5million).
The Company’s financial year end has been changed to 31 December to align reporting with its DRC subsidiaries. Tiger will therefore prepare an annual report for the 6-month period to 31 December and hold its next Annual General Meeting during May 2011.
BACKGROUND
The Kipoi Project covers an area of 55 sq kms and is located 75km north‐north‐west of the city of Lubumbashi in the Katangan Province of the DRC. The Project contains a 12km sequence of mineralised Roan sediments that host at least five known deposits: Kipoi Central, Kipoi North, Kileba, Judeira and Kaminafitwe. The Company has reported JORC standard resources at three of the deposits. The principle deposit is Kipoi Central which contains a zone of high grade copper mineralisation within a much larger lower grade global resource.
The Company proposes a staged development at the Kipoi Project. The high grade zone of mineralisation at Kipoi Central is proposed to be exploited during the Stage 1 development. During the three year life of Stage 1 a total of 900,000tpa of 7% Cu is planned to be processed through a Heavy Media Separation plant to produce the equivalent of 35,000tpa of copper.
A study is under way for the development of a Stage 2 SXEW facility at Kipoi, that conceptually would have a life exceeding ten years with production scaling up to 50,000tpa of copper.
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For further information in respect of the Company’s activities, please contact:
Brad Marwood
Stephen Hills
Nathan Ryan
Managing Director
Chief Financial Officer
Investor Relations
Tel: (+61 8) 9240 1933
Tel: (+61 8) 9240 1933
Tel: (+614) 20 582 887
Email: bmarwood@tigerez.com
Email: shills@tigerez.com
Email: nryan@tigerez.com
Company website: www.tigerresources.com.au
Caution Regarding Forward Looking Statements: The forward-looking statements made in this report are based on assumptions and judgments of management regarding future events and results. Such forward-looking statements, including but not limited to those with respect to the development of a Stage 1 mining operation at the Kipoi Project involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the actual market prices of copper, cobalt and silver, the actual results of current exploration, the actual results of future mining, processing and development activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's filed documents. There can be no assurance that the Kipoi Project will be successfully developed, that any mineralisation previously disclosed in respect of the Kipoi Project will be proven to be economic, that anticipated metallurgical recoveries will be achieved, that future evaluation work will confirm the viability of deposits identified within the project or that future required regulatory approvals will be obtained.
Scientific or technical information in this report has been prepared under the supervision of Mr Bradley Marwood, Managing Director and a full-time employee of the Company and a Member of the AusIMM (101610.) Mr Marwood has sufficient experience which is relevant to the style of mineralization under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code and to qualify as a “Qualified Person” under NI 43-101. Mr Marwood consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. -----------
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