Northern Tiger Resources Channel Samples 132.91 g/t Gold over 6.9 Metres Along Strike on New Sleeping Giant Zone Discovery - 3Ace Project, Yukon
Updated at 14:10 CT. Adds image and selected charts near end.
August 8, 2012: Northern Tiger Resources Inc. ("Northern Tiger" or the "Company") (NTR: TSX-V) is pleased to announce that channel sampling on a newly exposed quartz vein exposure in the Sleeping Giant Zone has confirmed the high-grade nature of the gold mineralization previously reported from chip sampling (eleven continuous one metre chip samples taken along the strike of the new vein exposure returned a weighted average of 50.3 g/t gold - see new release dated July 31, 2012). Seven separate continuous channel samples totalling 32 metres now test the entire 25 metre exposed strike length of the vein, and include 132.91 g/t gold over 6.9 metres.
The new high-grade vein segment is exposed for 25 metres along strike, and is estimated to be 3 metres wide (the attitude of the vein and related topography made it impractical to trench the vein across strike). A map and photo of the vein will be posted on the Company's website at www.northern-tiger.com. Additional trenching has also been completed on other Sleeping Giant vein segments, and channel samples have been completed on these new exposures as well. The trenching has also provided additional structural information, and it was determined that drilling completed in 2010 may not have adequately tested the zone (results up to 1.5 g/t gold over 11.9 metres - see news release dated November 25, 2010). As a result, the drill rig was redirected to the Sleeping Giant Zone, and seven holes (366 metres) have been completed with assays pending.
The Sleeping Giant Zone is interpreted to be a series of overlapping (en echelon) massive quartz veins hosted in a shear zone located one kilometre east of the Main Zone where 2011 drilling returned results up to 4.6 g/t gold over 35.0 metres, including 106.2 g/t gold over 1.0 metre (see news release dated October 25, 2011). Individual vein segments, combined with halos of silicified wall rock and quartz stockwork, are up to 25 metres in width. The northeast striking veins are hosted in a north-south striking mineralized trend exposed in an area 125 metres wide by 300 metres long. The Sleeping Giant Zone appears to be structurally similar to the Main Zone, but is exposed over a larger area.
This News Release has been reviewed and approved by Dennis Ouellette, B.Sc., P.Geol., a Qualified Person as defined by NI 43-101. All rock and drill core samples were analyzed by Inspectorate America Corporation of Richmond, British Columbia using 50 gram fire assay and 50-element, 4-acid ICP analysis. When visible gold is noted in drill core samples or regular fire assay values appear abnormally high, the pulp and metallic screen assay method is used to determine the total gold content and gold contents of different size fractions. This is considered industry best practice when dealing with coarse gold mineralization where a nugget effect is suspected. This determination is accepted as the most representative value and is used in the assay database.
|Sleeping Giant Zone - Trench 1 Channel Samples*|
|Individual Gold Assays||Continuous |
|Channel #1||1.37 g/t over 1.0m
1.13 g/t over 0.7m
6.00 g/t over 0.7m
|2.4 metres||2.57 g/t|
|Channel #2||1.03 g/t over 1.0m
0.73 g/t over 0.3m
0.06 g/t over 0.4m
0.61 g/t over 1.1m
12.11 g/t over 1.0m
15.05 g/t over 1.0m
10.98 g/t over 1.0m
159.73 g/t over 0.8m
|6.6 metres||25.58 g/t|
|Channel #3||137.76 g/t over 1.0m
487.89 g/t over 0.6m
106.98 g/t over 0.8m
2.23 g/t over 1.0m
|3.4 metres||156.09 g/t|
|Channel #4||21.73 g/t over 0.9m
334.92 g/t over 1.0m
20.29 g/t over 1.1m
1.75 g/t over 0.4m
8.91 g/t over 1.0m
|4.4 metres||92.62 g/t|
|Channel #5||6.68 g/t over 1.1m
22.15 g/t over 0.9m
46.34 g/t over 1.1m
|3.1 metres||25.95 g/t|
|Channel #6||246.19 g/t over 1.1m
1,881.79 g/t over 1.0m
112.19 g/t over 0.9m
14.33 g/t over 1.0m
19.99 g/t over 1.2m
|5.2 metres||448.92 g/t|
|Channel #7||29.67 g/t over 1.0m
46.41 g/t over 1.1m
7.71 g/t over 1.0m
8.97 g/t over 0.9m
611.12 g/t over 1.3m
35.00 g/t over 0.7m
1.73 g/t over 0.9m
|6.9 metres||132.91 g/t|
|32.0 metres||139.13 g/t|
* Channel samples were taken along the exposed strike of the quartz vein, and are unlikely to represent the averages which would be obtained from samples perpendicular to strike or from drill holes penetrating the vein.
Northern Tiger Resources Inc. (NTR: TSX-V) is a Canadian-based resource exploration company focused on gold and copper exploration in the Yukon, where it has a strong portfolio of projects. Drilling in 2011 intersected 4.6 g/t gold over 35.0 metres (including 106.2 g/t gold over 1.0 metre) at the Company's flagship 3Ace Project in southeast Yukon. The Sonora Gulch copper-gold-silver porphyry project in central Yukon also returned significant drill results in 2011, including 0.45 g/t gold and 3.0 g/t silver over 234.0 metres.
To read the entire news release follow the link below:
August 8, 2012 (Source: Northern Tiger Resources Inc)
Edit at 13:39 to add image of the channel sampling.
Image Source: Northern Tiger Resources
Channel Sample Location Map: http://www.northern-tiger.com/i/pdf/Sleeping-Giant-Channel-Samples-Map.pdf
Edit 2 at 14:00 CT to add short term volume candle chart showing initial reaction to the Channel Sampling news.
Edit 3 at 14:10 CT to add a comparison chart (self explanatory).
Disclosure: Northern Tiger Resources is a Vulture Bargain Candidate of Interest (VBCI) and is our fully fledged Vulture Bargain #7. Members of the GGR team are actively accumulating and hold long positions in NTR.V or NTGSF.