04 Oct Tigris Resources October Newsletter Update
The past 4 months has seen Tigris consolidate its position as the pre-eminent explorer in SE Turkey. Having expanded our team with the addition of key technical personnel, the company has leveraged its local expertise gained in previous years through flyovers, and grass roots exploration to establish a thorough understanding of the whole region thus generate and priorities some exciting new targets.
In doing so we have demonstrated our knowledge of the local conditions and have been able to operate safely in areas which were previously deemed to be too dangerous to work, building good relations with local agencies and communities and using their local knowledge to aid us in finding new areas of interest.
We have two projects drill ready and a list of exciting projects ready for tender.
Three field teams have been reviewing a list of 86 areas which were identified last year. Of these, 6 have been selected for follow up detailed reconnaissance based on significant, anomalous gold in samples.
We now have a better understanding of the dominant style of mineralization in Turkey and are more focused on three particular types of deposits (in order of abundance and importance); IOCG, Porphyry CU-Mo and Cu-Au and epithermal.
The program will be completed by mid-November when the weather will most likely preclude any further field operations.
Over the winter period, the teams will conduct a desktop analysis of the available data and prepare a prioritised list of license acquisitions.
Re-mapping of the Bingol area has been completed and the data is being re-examined in the light of some significant sample results and a better understanding of the area.
An extensive soil sampling programme is commencing which will improve our understanding of the system and help guide the drilling programme, which is due to start in 2014.
We have met our expenditure commitments on Kolonkaya Middle and so will be scaling back work there for the remainder of the year in order to focus on regional exploration. It is intended to drill test the geophysical anomalies identified early this year in the early part of 2014 in conjunction with drilling at Bingol.
About Tigris Resources Limited
Tigris is an exploration and development company focused on the search for gold and copper deposits in the highly prospective Tethyan Metallogenic Belt in southeast Turkey.
Tigris’s ‘Comprehensive Development Strategy’ is designed to enable the exploitation of a range of opportunities with the aim of developing a focussed ground acquisition programme. Running concurrently, the components of the strategy integrate Tigris’s ability to acquire ground via tender, greenfield target generation and joint venture partnerships.
Tigris’s board and management team have a proven record in building companies, discovering, acquiring and developing resource in emerging environments, especially along the Tethyan Metallogenic Belt.