VIPR Industries Reports Positive Sampling Results, Confirms High-Grade Gold Mineralization at New Singida-Londoni Gold Property
April 01 2009 - 9:07AM
Marketwired
VIPR Industries Inc. ("VIPR") (PINK SHEETS: VIPR) is pleased to
report that a grab sampling program conducted on its new
Singida-Londoni Gold Property has confirmed high-grade gold
mineralization and returned assay values of up to 18.2 grams of
gold per tonne. In its report independent geology firm JICL
Consultants of Tanzania, it identified high-grade zones including
18.2 grams per tonne (g/t) and 11.1 g/t, noted the project's "high
potential" and recommended VIPR proceed to the next phase of
exploration. The Singida-Londoni Gold Property encompasses the
newly acquired 20 mining licenses referenced as QDS 123/3.
JICL Consultants, a well regarded third party Geology firm with
extensive experience in Tanzania, recently completed the
reconnaissance mapping and sampling program on VIPR's
Singida-Londoni Gold Property. Using the fire assay method, JICL
defined high-grade geochemical anomalies and confirmed gold
mineralization in the majority of samples taken. According to the
geology report, auriferous quartz veins vary from a few centimeters
on the surface and increase with depth to more than 1 meter.
High-grade zones intersected during sampling, including 18.2 g/t @
1.2m, demonstrate the claim block's potential for a significant
gold resource and warrant further evaluation.
JICL reports that artisan miners are currently excavating high
grades of gold from these overprints at Mwau, Muhintiri, Mang'onyi,
Ihanja and Londoni near VIPR's Singida-Londoni claims. The property
is located next to Shanta Gold Limited's Singida Project, where
Shanta has identified a 543,000 ounce measured, indicated and
inferred resource plus an additional 2+ km strike for testing.
JC Barbeck, President and CEO of VIPR Industries, commented:
"Although these results do not confirm minable reserves, the highly
encouraging grab sample results underscore the potential for
economic gold production at VIPR Industries' Singida-Londoni Gold
Property. Based on the project's comprehensive documentation,
classification as a Primary Mining License with Tanzania's Ministry
of Energy and Minerals, close proximity to a world class discovery,
and successful Phase I sampling revealing very rich mineralization,
VIPR Industries intends to move forward with exploration at
Singida-Londoni."
Mr. Barbeck continued, "These results come on the heels of
positive pitting and trenching results from the Mwamunguli Diamond
Prospect. As announced March 4th, the geology report from
Mwamunguli estimates a minimum resource of 100,000 carats of
diamonds at a value of over $30 million", but cautions that
estimated results could be materially different from actual
results. VIPR presently holds an interest in the property, while
maintaining the exclusive rights to acquire up to 50% ownership of
the Mwamunguli Diamond Prospect.
VIPR acquired the Singida-Londoni Gold Property as part of an
asset exchange with its original Singida Gold Property concessions
purchased in November of 2007. The company believes the
Singida-Londoni claims can be developed at a much faster pace while
retaining first right of refusal on the Singida Gold Property.
A copy of the JICL Geology Report can be viewed on VIPR's
website: www.viprindustries.com.
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.
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
www.viprindustries.com/motion.asp?menuid=6266&lgid=1&siteid=100382.
For more information please visit www.viprindustries.com.
Contacts: VIPR Industries Inc. Investor Relations (702) 940-0440
Email: info@viprindustries.com Website: www.viprindustries.com