Northern Tiger Resources samples 8.5 g/t gold over 6.8 metres at Sprogge project, Yukon
Thursday, Nov 15, 2012Northern Tiger Resources Inc. ("Northern Tiger" or the "Company") (TSX VENTURE:NTR) is pleased to announce that trenching on the Sprogge Project has returned assays up to 8.5 g/t gold over 6.8 metres, including 40.5 g/t gold over 1.0 metre. The Sprogge Property is adjacent to the Company's 3Ace Project in the southeast Yukon, where 2012 drilling included intercepts of 1.5 g/t gold over 45.4 metres and 3.6 g/t gold over 8.6 metres (see news release dated October 31, 2012). In addition, the Company has renegotiated its option agreement with Alexco Resource Corp. (TSX: AXR, NYSE-Amex: AXU) and Newmont Canada Corporation, a subsidiary of Newmont Mining Corporation (NYSE: NEM) (the "Vendors").
"The trenching and channel sampling program verified three structures with significant gold mineralization," says Greg Hayes, President of Northern Tiger. "The Meadow and Ridge Zone West structures in particular are now priority drill-ready targets within the larger two kilometer long trend of mineralization and extensive hydrothermal alteration outlined at Sprogge."
The Sprogge Property's geology is similar to that at 3Ace, and includes a thick succession of interbedded calcareous sandstone, quartz pebble conglomerate, and phyllite. The sedimentary rocks are folded and form a large anticline in the central portion of the property. The fold system was subsequently overprinted by southwest and west-striking brittle faults which control the observed distribution of hydrothermal alteration, mineralization, and associated quartz vein systems. Trenching or channel sampling were conducted at three locations during the 2012 exploration program.