25 Nov Tigris Newsletter November 2014
After a concerted and committed effort and against stiff headwinds on both sides of the Atlantic, we have raised a total of just over CAD $1.3M in IPO funding. We are very grateful to Sprott Global Resource Investments Ltd and to their founder Rick Rule for their continued support and for their inspiring conviction in what are truly trying times.
I am pleased to say that this amount, coupled with our existing treasury and Kirkcaldy’s funds, should be sufficient for Tigris to meet its planned expenditure and satisfy the listing requirements of the Toronto Stock Exchange.
Further saw-cut channel sampling of gold only rock-chip and soil geochemical anomalies around the periphery of and in the host-rocks to the main porphyry copper-gold centre at Uğur Tepe, have returned encouraging results. These results include 18m at 1g/t gold from a new area located to the north and at a significant distance from the main porphyry centre (see Figure below).
This new saw-cut channel sampling, alteration mapping and ongoing ground geophysical work is adding support to our interpretation of a broad and peripheral “ring-fracture” control to gold only mineralization at Uğur Tepe. We consider this important, as if we can outline significant and accessible gold around the periphery of the main porphyry copper-gold centre, it may be sufficient to support open cut development of the lower grade but extensive copper-gold mineralization in the porphyry “core”.
Mines and Money, December 1st-5th London
We are pleased to advise that we have managed to acquire a last-minute discounted booth space for this year’s Mines and Money in London.
As you are aware, we are planning a rebrand of the company to Royal Road Minerals Ltd concurrent with our listing. Royal Road will be one of the first of a new generation of resource companies with new strategies for a reforming sector. Over the past few months we have been conducting research, canvassing shareholders, financiers and industry peers and forming a view of what the market wants and where we think the future of mineral exploration and mining may lie. We are looking forward to discussing this with investors and industry experts in London. You can find us at booth C7 where we will be more than happy to run you through current projects and discuss our strategy.
Dr Tim Coughlin CEO
Project Geologist Uğur Tepe
5-years exploration and mining experience. Geology-Earth Science Çanakkale University. Underground mine geologist with Çanakkale Madencilik, Exploration Geologist and Safety Officer Freeport McMoRan. Okan is busy alteration mapping and overseeing geochemical and geophysical programs at Uğur Tepe.