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VIPR Industries Inc. (VIPR) announces that it has started identifying target zones for furtherexploration on its Singida-Londoni Gold property.
The company has been analyzing data previously receivedfrom its Singida-Londoni Property which it now intends toadvance at a more rapid pace due to recent events regardingexploration financing. VIPR has recently received smalltranches of funding and is expecting further more significanttranches to be put towards additional exploration, detailsof which to be made shortly available. The commencementof the next phase of exploration is contingent upon variousfactors including the additional funding and is to consistof; ground magnetic survey and geological mapping, a minimumof 20 pits and 20 trenches on a 200m grid, approximately200 soil samples are expected to be collected on a 100mX 100m grid covering the whole tenement, and data processingand interpretation. The soil survey is designed to tightenthe spacing of the soil grids to allow further definitionof drill targets and to explore new areas, as part of theCompany's on-going exploration program. The final reporton the suggested target zones are to be sent to its ChiefOperating Officer and Chief Geologist, Michael Sandidge,for review and input prior to any final decisions.
JC Barbeck, President and CEO of VIPR commented, "We areeager to further expand on positive data and focus on obtainingadditional affirmative results that can lead to a drillingprogram. The area has been proven to be a positive assetfor various other company's currently operating in thisregion, which VIPR hopes to also be a beneficiary of."
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This news release contains forward-looking statements withinthe meaning of the Private Securities Litigation ReformAct of 1995 (The "Act"). In particular, when used in thepreceding discussion, the words "pleased," "plan," "confidentthat," "believe," "expect," or "intend to," and similarconditional expressions are intended to identify forwardlooking statements within the meaning of the Act and aresubject to the safe harbor created by the Act. Such statementsare subject to certain risks and uncertainties and actualresults could differ materially from those expressed inany of the forward-looking statements. Such risks and uncertaintiesinclude, but are not limited to, general economic conditions,inherent mining risks, market conditions, competitive factors,the ability to successfully complete additional financingsand 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.
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