Here is something issued by the Insider Report tonight on Tiger Resources, V.TGR:
Insider Report Special Update--May 12/98
Home Page: www.stockhouse.com/insider
E-mail: hotline@istar.ca
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Name: Tiger International Resources
Symbol: TGR
Exchange: Vancouver
Shares Outstanding: 4.1million
Float: 1.5million
According to our sources, Tiger Resources' work program, at the 5,000-sq km
Springfield Basin property, is now commencing. The heavy media plant arrives
in the morning and should soon begin processing ore.
Something that has not officially appeared anywhere, and is anecdotal
evidence, concerns a recent parcel of gem-quality diamonds found on the
property. In 1990, a Port Augusta Airways pilot flew a package of
diamonds from Port Augusta to Adelaide. The largest stone was 1.5 carats
(gem grade) and those stones were sold into the Adelaide market. No
record or photos exist. Independent prospectors found the stones at the
Springfield property so news of this discovery was never made public
until now.
Dr. Bruce Walsham, formerly the geologist running the earlier
Springfield work program for Freeport, recently confirmed this rumored
discovery. He has no relationship with Tiger Resources and is, in fact,
running a different mining company, which is exploring for diamonds in
another continent, Africa. Dr. Walsham now lives in London (UK).
That previously unannounced discovery, combined with a careful reading
of Dr. Kevin Wills' report describing the Freeport diamonds, makes us
optimistic about TGR's current work program. The Freeport diamonds were
clear, with no inclusions or graphite. (The diamonds would be cloudy if
there were graphite.) The diamonds, expected to be found, should be of
gem size, because the smaller diamonds were angular and sharp. Dr. Wills
concluded that the clear, angular and smaller diamonds had broken away
from the larger diamonds. His report leads us to believe TGR should find
gem quality diamonds at Springfield.
Dr. Kevin Wills is currently overseeing the exploration program, which
is expected to result in the discovery of new diamondiferous kimberlite
pipes. As you may remember, Dr. Wills ran the team that discovered the
world-famous Argyle diamond mine in Australia, which has supplied 1/3 of
the world's diamonds. Recent TGR exploration included investigating the
drainage channels for potential drill targets. It appears that drilling
is likely to focus on the flatland, where one finds the aged drainage
channels. The mapping has been completed and is now being studied.
Drilling is scheduled to start on June 15th. Dr. Wills is using some of
the same theories and techniqures at Springfield, which were used in the
discovery of the Argyle diamond mine.
Those who have closely been following developments at Springfield should
not find this surprising. As we mentioned in an earlier report, TGR is
running an aggressive work program. While the heavy media plant sifts
through the ore for potential diamonds, Dr. Wills' team will continue
studying the data from the drainage channels and drill sites will be
selected. This is a fast-track exploration program and "anything" can
happen during the next 30-60 days.
We are particularly interested in the upcoming 30-day period, in which
TGR begins utilizing the heavy media plant for diamond recovery and
before the drilling period. We believe there exists the possibility of a
surprise diamond discovery.
Insider Report
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