Northern Tiger Resources identifies new gold anomaly at Korat Project in Yukon's White Gold District
Friday, Nov 09, 2012
Northern Tiger Resources Inc. (TSX VENTURE:NTR) ("Northern Tiger" or the "Company") is pleased to provide an update on its Korat Project in the White Gold District. An 800-metre long gold-in-soil anomaly has been identified within a larger 1,600-metre long pathfinder element anomaly. The Korat anomaly features a similar pathfinder geochemical suite and straddles the same prominent regional magnetic high feature that is closely associated with both Kinross Gold Corporation's ("Kinross") Golden Saddle deposit and Comstock Metal Ltd.'s ("Comstock") new QV discovery, where recent drilling has returned results up to 2.3 g/t gold over 89.9 metres.
"Korat's anomaly is connected to the same prominent geophysical structure associated with two of the most important White Gold discoveries - Kinross' Golden Saddle deposit and Comstock's new QV discovery," says Greg Hayes, President of Northern Tiger. "With a similar suite of pathfinder elements and the right geology, Korat is a compelling new White Gold exploration target."
Comstock's discovery is being characterized as remarkably similar to Golden Saddle, and both are closely associated with a strong regional magnetic high feature that continues through the Korat property. The Korat Project consists of 40 Yukon Quartz Mining Claims (2,066 acres) and is completely surrounded by Comstock's QV property. The Korat anomaly is approximately 8 kilometers north of Comstock's new drill discovery and 18 kilometers north of Kinross' Golden Saddle deposit which hosts a measured and indicated gold resource of 1,005,000 ounces and an inferred resource of 407,000 ounces.
A total of 543 soil samples, 44 rock samples and 15 silt samples have been collected on the property. The soil anomaly includes gold-in-soil values up to 100 ppb and is associated with a similar suite of pathfinder elements to Comstock's QV discovery, including arsenic (trace to 320 ppm), antimony (trace to 17 ppm), barium (trace to 2090 ppm), and molybdenum (trace to 42 ppm). Maps of the anomalies will be posted on the Company's website at www.northern-tiger.com.
Government regional scale mapping indicates that the northern half of Korat is underlain primarily by a metasiliclastic package and the southern half by orthogneiss, which is one of the primary hosts of mineralization at both Golden Saddle and Comstock's QV discovery. Only limited property scale mapping has occurred due to lack of outcrop, but additional rock units identified on the property by Company geologists include both amphibolite (also hosts mineralization at Golden Saddle) and feldspar porphyry (porphyry dikes reported in QV drilling).
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 soil samples were analyzed by ALS Chemex of North Vancouver, British Columbia. Rock samples were analyzed using 50 gram fire assay and 48 element ICP analysis. Soil samples were analyzed using 25 gram aqua regia digestion and 51 element ICP analysis.
Northern Tiger Resources Inc. (TSX VENTURE:NTR) 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 at the Company's flagship 3Ace Project in southeast Yukon has intersected up to 4.6 g/t gold over 35.0 metres (including 106.2 g/t gold over 1.0 metre). The Sonora Gulch copper-gold-silver porphyry project in central Yukon has also returned significant drill results, including 0.45 g/t gold and 3.0 g/t silver over 234.0 metres.