Kipoi Central
Tiger commenced RC and diamond drilling programs at the Kipoi Central deposit in 2007. Significant copper and cobalt mineralisation was found in most holes with a number of intersections recording exceptionally high grade (104.5m @ 8.7% Cu, 109m @ 7.6% Cu, 102.5m at 7.3% Cu, 118.6m @ 7.0% Cu).
On the basis of the significant results received and the extent of the mineralisation defined, Tiger committed to a resource drilling and feasibility programme to determine the viability of establishing a mining operation.
An initial inferred resource estimate for Kipoi Central of 13.4Mt at 3.3% Cu for 439,000 tonnes of contained copper, 20,000 tonnes of cobalt and 1,416,000 ounces of silver was completed in March 2008 by Cube Consulting Pty Ltd. This includes a high grade component, upgraded to a Measured and Indicated Resource, of 2.8Mt at 8.1% Cu containing 230,000 tonnes of copper, 5,200 tonnes of cobalt and 441,000 ounces of silver.
In May 2010, Tiger increased its resource at Kipoi Central from 439,000t Cu to 637,000t Cu of which 535,000t Cu was classified as Measured and Indicated Mineral Resources.
The high grade component of the resource and the metallurgical properties of the ore allowed Tiger to develop a staged development plan that fast tracks production and minimises initial capital expenditures.
Stage 1 of production involves using a HMS and spiral operation to process 900,000tpa of high grade oxide oreto produce a +25% copper concentrate (at a rate of approximately 150,000 tonnes of copper concentrate per annum). The HMS plant will operate for approximately three years before being replaced by a proposed Stage 2 SXEW processing plant. During this three-year period, Tiger is aiming to produce approximately 119,000t of contained copper in concentrate.
During the life of the HMS plant operation Tiger expects that 4.8Mt @ 2.97% Cu ore and unrecovered material from Stage 1 processing will be stockpiled and then used as feed in the planned Stage 2 SXEW processing plant.
Development Timing
Based on the short construction and pre-strip period and the relatively simple nature of the proposed development and operation, the Company plans to be in production by the start of 2011. Tiger has secured the necessary funding and approvals for the project.