Tiger Resources Limited Acquires Interest in Brazilian Gold Project Announces David Zukerman
Tiger Resources Limited (ASX: TGS), an Australian exploration company based in Perth continues to invest in projects outside of Australia because of the greater potential to find and develop new resources. The company has added Brazil to its list of international interests with two new gold acquisitions in the Tapajos region in northern Brazil.
(PRWEB) May 23, 2005 -- Tiger Resources Limited (ASX: TGS), an Australian
exploration company based in Perth continues to invest in projects outside of
Australia because of the greater potential to find and develop new resources.
The company has added Brazil to its list of international interests with
two new gold acquisitions in the Tapajos region in northern Brazil.
“This is a strategic investment in the world renowned Tapajos district
which has traditionally produced up to 40 per cent of Brazil’s total gold output
in the 1970s and 80s and even now some 80,000 garampeiros (local alluvial
miners) are reported to be producing 200,000 to 300,000 ounces of gold annually
from alluvial mining,” said Tiger Resources Executive Director, David Zukerman.
The two projects are the Bom Jardim Creek project in the southeast state
of Para and the Rosa de Maio project in the state of Amazonas.
High
grade gold bearing quartz veins are the dominant mineralization style of both
projects, with lower grades found in the hosting wall rock alteration.
Preliminary sampling of the Rosa de Maio Project has identified very high gold
values within the quartz veins, including 108 g/t, 60 g/t and 11 g/t gold.
Similar sampling within the Bom Jardin Project returned bonaza grades in excess
of 100 g/t gold.
“We look for projects that include historical mine
workings and favorable geology that are essentially untested for hard rock gold
mineralization using modern exploration technology,” Mr. Zukerman said.
Among the major exploration and mining companies attracted to the region
are Rio Tinto, Barrack Gold, Placer Dome, Phelps Dodge and Kinross Gold.
“Exploration to date within the project area for primary mineralization
has been minimal and drilling has not previously been undertaken so our goal is
to spend a minimum of US$1 million a year on drilling to delineate a
significantly mineralized system,” Mr. Zukerman said.
About Tiger
Resources Limited:
Tiger Resources Limited is an early identifier of
world-class mining deposits in emerging resource provinces around the globe and
has a major investment in two copper cobalt projects in the Democratic Republic
of Congo.
About the Tapajos Province:
Located in northern Brazil,
gold was first discovered in the district in the late 1950s. Official government
estimates of total Tapajos alluvial gold production to 1993 place this at
between 7 million and 10 million ounces, but actual production is believed to be
two to three times higher.
Contact:
Thomas
Murrell
+61893886888
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Source : http://www.prweb.com/releases/2005/5/prweb243255.htm