VIPR Industries Reports Positive Grab Sampling Results From Phase I Exploration of Its Singida Gold Property
August 11 2008 - 2:30AM
Marketwired
VIPR Industries Inc. (PINK SHEETS: VIPR)(FRANKFURT: VIN) ("VIPR")
is pleased to report that grab samples taken from its Singida Gold
Property have returned positive assay results of up to 4.86 grams
of gold per tonne. Initial results from the Phase I surface
sampling program confirm gold mineralization on VIPR's Singida Gold
Property warranting further exploration.
Surface sampling conducted as part of the Phase I exploration
program at VIPR's Singida Gold Property has identified anomalous
gold values. Fifty (50) rock and soil samples were taken every 50
meters from east to west and every 500 meters from north to south
for a square kilometer of widely spaced sampling. The Southern and
Eastern African Mineral Centre of Tanzania utilized the fire assay
method to confirm gold mineralization in the majority of the
samples, including one that returned a gold assay result of 4.86
grams per tonne. A diagram detailing the location and results of
the report can be viewed at the company's website or by Clicking
Here. A more detailed report on the results will be posted
shortly.
Mr. Mike Gerstner, President & CEO of VIPR Industries,
commented: "These positive sampling results are the latest of
several highly promising indicators of our Singida Gold Property's
potential to host an economically significant resource base. Our
concessions lie directly adjacent to and along strike from Shanta
Gold Limited's Singida Project where initial exploration drilling
has identified an indicated resource of 543,000 ounces of gold
worth an estimated $500 million. Third-party aerial magnetic
surveys have highlighted possible gold anomaly hot zones and drill
targets on our property. And small-scale operations by local
artisan miners indicate ore grade gold mineralization on the
surface."
Mr. Gerstner continued: "Based on these factors VIPR believes
additional exploration of the Singida Gold Property's potential is
warranted. We are gearing up to move into the next phase of
exploration, preparing a strategy and budget for our discussions
with potential investors and partners. We are extremely pleased
with the project's initial results and believe our Singida
operations will have a major impact on the company's growth."
On July 28, 2008 VIPR announced the closing of its acquisition
of the Singida Gold Property in Tanzania's Singida Gold Belt from
Kinti Group who has a portfolio of quality assets and expertise
that VIPR can leverage. The Singida Gold Property concessions are
currently undergoing the formal title change process at Tanzania's
Ministry of Energy and Minerals. Tanzania has become one of the
fastest emerging gold producers in Africa, and is now the
continent's third largest gold-producing country after South Africa
and Ghana, possessing a fair and just British style judicial
system. Tanzania hosts several world class mines including
Anglogold Ashanti's 27 million ounce Geita Mine which produced
327,000 ounces in 2007. Barrick Gold operates three mines and
advanced projects with reserves of more than 19.2 million
ounces.
About VIPR Industries
VIPR Industries Inc. is a precious metals exploration and
development company focused on gold, uranium and other high quality
precious metal resources and reserves through mergers, acquisitions
and resource development.
Cautionary "Safe Harbor" Statement: Under the Private Securities
Litigation Reform Act of 1995. Some of the information included in
this press release and other documents by VIPR Industries Inc. (as
well as information included in statements made by its
representatives, about information about the business it is engaged
in or proposes to engage in or about acquisitions) may contain
forward looking statements. Such statements may refer to other
adjacent properties and company's and their announced / reported /
released estimates. Although VIPR is encouraged from its
property(s), there is no assurance that the same or similar
results, or mineralization will be found on VIPR's property(s).
Forward looking statements that do not relate strictly to
historical or current facts, often will be phrased in the future
tense and may include the words "may," "could," "should," "would,"
"believe," "expect," "anticipate," "estimate," "intend," "plan" or
other words or expressions of similar meaning. Forward looking
statements that relate to VIPR Industries Inc. ("VIPR") or its
present or proposed business are based on VIPR's current beliefs
and expectations about future events and include statements that
reflect management's beliefs, plans, objectives, goals,
expectations, anticipations and intentions with respect to VIPR's
financial condition, results of operations, future performance and
business, including statements relating to VIPR's business strategy
and VIPR Industries current and future development plans. Factors
that could cause actual results to differ materially from
projections include, among others, precious metals prices,
decisions and activities of the operator of the various properties,
unanticipated grade, geological, metallurgical, processing or other
problems the operator may encounter, changes in project parameters
as plans continue to be refined, economic and market conditions, as
well as other factors described elsewhere in this press release or
any other filings submitted by VIPR. In addition, acquired royalty
interests on certain projects are subject to risks associated with
conducting business in a foreign country, including application of
foreign laws to contract and other disputes, foreign environmental
laws and enforcement and uncertain political and economic
environments. Most of these factors are beyond the Company's
ability to predict or control. The Company disclaims any obligation
to update any forward-looking statement made herein. Readers are
cautioned not to put undue reliance on forward-looking
statements.
Contacts: VIPR Industries Inc. Investor Relations (416) 644-8648
Email: info@viprindustries.com Website: www.viprindustries.com