VIPR - NEWS: WKN: A0NEFW - NEWS: VIPR Industries Signs Exploration Contract to Commence Drilling Program on Its Msangachuki-Londoni Gold Tenements
Vipr Industries (USOTC:VIPR)
Historical Stock Chart
11, March 2011 to May 2011
VIPR Industries Inc. (OTCBB: VIPR) ("VIPR") announces it has signed a contract and formally engaged JICL Consulting of Tanzania to undertake a diamond core drilling programme on its Msangachuki-Londoni, Singida Gold prospect property, located in Singida, Tanzania.
After gathering quotes from various mining contractors, VIPR made the decision to once again engage JICL to execute a Diamond Core drilling program which is as a result of JICL's expertise and familiarity of VIPR's Singida property. The drilling programme is slated to begin within the next 45 days, but could take as long as 60 to 90 days to commence. The long delay's stem from the expected delivery of a new drill rig JICL has purchased from Europe that is presently in transport, and obligations JICL has to other clients prior to commencing the drilling program on VIPR's Singida property. The newly purchased rig owned by JICL will also allow for some reduced costs to VIPR on this programme and any subsequent exploration programmes.
The drilling program was as a result of its most recently completed MMI reconnaissance exploration programme and prior programmes performed on its Twenty Gold Concessions, all conducted by JICL on its Msangachuki-Londoni, Singida Gold prospect property. JICL concluded a need for taking additional samples at deeper levels, which can only be obtained by a RAB/DD/RC drilling programme.
The JICL drilling program
will encompass holes taken to depths of 120 metres with a minimum of 50 samples to be taken. Once completed, the samples are then to be shipped to SGS Laboratories in Tanzania for analysis.
JC Barbeck of VIPR commented, "VIPR is pleased to be undertaking the next phase of exploration on our Singida-Londoni prospect property as per JICL's recommendations and guidance. Although there are no assurances, we hope the results will exhibit the same positive attributes as previous exploration programmes performed by JICL".
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.
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. All investors are cautioned that mineral deposits on adjacent properties are not indicative of similar results on our properties.
For more information please visit http://www.viprindustries.com.
VIPR Industries Inc.
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