LAS VEGAS, NEVADA -- (Marketwire) -- 09/13/10 -- VIPR Industries Inc. (PINK SHEETS: VIPR) ("VIPR") announces results of its recently completed MMI reconnaissance exploration programme performed on its Twenty Gold Concessions on its Msangachuki-Londoni, Singida Gold prospect property, located in Singida, Tanzania.
JICL Consultants was sub-contracted to undertake the MMI programme, which had commenced in June of this year. Exploration work during this programme involved; Gridding, MMI geochemical sampling and assaying. The MMI geochemical sampling programme is a more consistent form of assaying for the presence of geochemical anomalies than previous programmes and methods undertaken. The Sampling was carried out at a spacing of 100m with 25m sample stations. The technique was categorized as industry standard where all samples were taken at a depth interval ranging between 15cm-25cm below the organic-inorganic soil interface. A total of 444 bulk samples, one kg each, were collected and dispatched to SGS laboratory in Toronto Canada for MMI analysis.
"SGS" Laboratories, located in Toronto Canada is recognized as one of the leading laboratories in the world for assaying of this type of MMI data. They perform gold geochemical & assay testing, mineralogical, metallurgical and environmental analysis. Their analytical procedures are accepted internationally and recognized as being one of the foremost umpire laboratories in the world"
All 444 unconsolidated samples were pulverized to -150 mesh. Only 20 samples out of 444 samples returned consistently background results below the detection limit of 0.01ppb gold. The rest 424 samples returned gold values of up to 0.7 ppb. The reason for the background values could be possibly due to the thick nature of the overburden, which masks the gold dispersion from the bedrock.
The following conclusions are generally evident from this MMI-M exploration survey on the VIPR-Londoni properties in Tanzania.
- The survey has successfully demonstrated that MMI-M partial extractions
on soil samples collected from the VIPR Tanzania terrain can isolate
MMI-M precious and lithologically-sensitive element responses. This
includes the commodity elements Au and Ag, associated element As and Co.
- The VIPR grid is characterized by low-contrast, coincident, broad really
extensive anomalies for Au and As in the central grid area and Fe and Cr
in the western grid area.
- Significant lithologic responses (Fe and Cr) characterize the western
portion of the grid but are not associated with the precious metal
responses.
- The MMI process does not indicate the grade of mineralization
responsible for the production of an MMI anomaly nor does it indicate
the depth of the source region for the anomaly.
In the report presented to VIPR, JICL summarized its programme much in the same way as previous programmes save for some minor variances, recommending moving forward with a targeted drilling programme over the anomalous zones defined by both ground geophysics, conventional and MMI geochemistry to test for mineralization extension to depth. The recommendations, data and report are presently being reviewed by the Company and other qualified personnel. JICL further stated, anomalous zones defined by both geophysics and geochemistry are located within the interpreted mafic rock units and also are proximal to the lineaments (faults/shears) from the recent ground magnetic survey. Hence JICL further concluded a need for taking the samples at a deeper level, which can only be obtained by a RAB/DD/RC drilling programme. The area has been proven to be positive for various other international mining companies, currently operating in this region, which includes companies such as Shanta Gold and Kilimanjaro mining, all within the immediate vicinity. The full report and data can be viewed on the company's website.
Javan Enock, Managing Director and Chairman of JICL Consultants commented "The MMI exploration programme has prioritized certain areas where a targeted drilling programme can commence. The survey has successfully demonstrated that MMI partial extractions on soil samples collected from the VIPR Tanzania terrain can isolate MMI-M precious and lithologically-sensitive element responses. The survey results have marked drill target zones.
JC Barbeck, President and CEO of VIPR Industries commented, "The results of the MMI programme are indicative of previous assaying methods. As in the previous programme, and previously stated, the company has forwarded the JICL results and report to third party independent consultants and industry professionals for review and recommendation. The Company will release those recommendations and decisions moving forward in a subsequent press release and on the company's website."
In addition to the current exploration programme at Londoni, and as recommended by JICL in its report, VIPR has been exploring various other potential property acquisitions within the local vicinity to compliment its existing Tanzanian Gold Tenements. As well as focusing on its Gold and mining business, VIPR has been entertaining other business opportunities in other segments and industries, which it believes could potentially provide revenues in a shorter period of time and reduce any risks that exist in the mining industry. It is the company's objective to attempt to reduce its reliance on external dilutive financing and become self sufficient with its business.
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.
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
