VIPR Industries Signs Exploration Contract to Commence Drilling Program on Its Msangachuki-Londoni Gold Tenements
March 31 2011 - 9:00AM
Marketwired
VIPR Industries Inc. (PINK SHEETS: VIPR) ("VIPR") announces it has
signed a contract and formally engaged JICL Consulting of Tanzania
to undertake a diamond core drilling programme on its
Msangachuki-Londoni, Singida Gold prospect property, located in
Singida, Tanzania.
After gathering quotes from various mining contractors, VIPR
made the decision to once again engage JICL to execute a Diamond
Core drilling program which is as a result of JICL's expertise and
familiarity of VIPR's Singida property. The drilling programme is
slated to begin within the next 45 days, but could take as long as
60 to 90 days to commence. The long delay's stem from the expected
delivery of a new drill rig JICL has purchased from Europe that is
presently in transport, and obligations JICL has to other clients
prior to commencing the drilling program on VIPR's Singida
property. The newly purchased rig owned by JICL will also allow for
some reduced costs to VIPR on this programme and any subsequent
exploration programmes.
The drilling program was as a result of its most recently
completed MMI reconnaissance exploration programme and prior
programmes performed on its Twenty Gold Concessions, all conducted
by JICL on its Msangachuki-Londoni, Singida Gold prospect property.
JICL concluded a need for taking additional samples at deeper
levels, which can only be obtained by a RAB/DD/RC drilling
programme.
The JICL drilling program will encompass holes taken to depths
of 120 metres with a minimum of 50 samples to be taken. Once
completed, the samples are then to be shipped to SGS Laboratories
in Tanzania for analysis.
JC Barbeck of VIPR commented, "VIPR is pleased to be undertaking
the next phase of exploration on our Singida-Londoni prospect
property as per JICL's recommendations and guidance. Although there
are no assurances, we hope the results will exhibit the same
positive attributes as previous exploration programmes performed by
JICL".
About VIPR Industries Inc.
VIPR Industries Inc. is a precious metals exploration and
development company focused on Gold, Uranium, Diamonds and other
precious metal resources and reserves through mergers, acquisitions
and resource development.
Safe Harbor
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
(The "Act"). In particular, when used in the preceding discussion,
the words "pleased," "plan," "confident that," "believe," "expect,"
or "intend to," and similar conditional expressions are intended to
identify forward looking statements within the meaning of the Act
and are subject to the safe harbor created by the Act. Such
statements are subject to certain risks and uncertainties and
actual results could differ materially from those expressed in any
of the forward-looking statements. Such risks and uncertainties
include, but are not limited to, general economic conditions,
inherent mining risks, market conditions, competitive factors, the
ability to successfully complete additional financings and other
risks described in the Company's filings and website, which all
investors are advised to view at
viprindustries.com/motion.asp?menuid=6266&lgid=1&siteid=100382.
All investors are cautioned that mineral deposits on adjacent
properties are not indicative of similar results on our
properties.
For more information please visit
http://www.viprindustries.com.
Contacts: VIPR Industries Inc. Investor Relations +1(702)
940-0494 +1(702) 942-3397 (FAX) info@viprindustries.com
www.viprindustries.com