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Mining Explorers 2011: Northern Tiger Resources Inc.

 

Last updated 11/6/2011 at Noon



NTR: TSX-V

President and CEO: Greg Hayes, CA

Director: Lori Walton, M.Sc., G.G., P.Geol.

Vice President, Exploration: Dennis Ouellette, B.Sc.

Northern Tiger Resources Inc., formed in April 2008 in Alberta as a spin-off of Firestone Ventures Inc., is an Edmonton, Alberta-based resource exploration company focused on the rapidly developing Dawson Range gold-silver-copper mining district in central Yukon Territory and underexplored regions southeastern and central Yukon. The company also has an exploration alliance with Capstone Mining Corp.'s subsidiary, Minto Explorations Ltd.

In 2011, Northern Tiger divided more than C$7 million in exploration resources among these properties, spending C$6 million to explore the 3Ace project in southeastern Yukon (optioned in April 2010 from longtime Yukon prospector Alex McMillan) and the adjacent Sprogge property, which it optioned in March from Alexco Resource Corp. and Newmont Canada Corp. The junior planned 10,000 meters of diamond drilling primarily on the Main Zone and the Green Zone West, preliminary testing of up to five additional targets on 3Ace and Sprogge, and an extensive surface exploration program with soil, silt and rock sampling; airborne and ground geophysical surveys; trenching; prospecting; and mapping.

It was anticipated that some of the new targets generated from this work will be drill tested as part of the 2011 program.

Northern Tiger also completed construction of a new 45-person camp at the 3Ace property.

By September, the company said it had identified a new bedrock gold occurrence at 3Ace about 1.2 kilometers northwest of the Main zone.

A grab sample from the new area returned 11.2 grams per metric ton gold.

The 2011 exploration program was designed to demonstrate the gold potential of the project and to set the stage for even larger exploration program in 2012.

At the Sonora Gulch Project located in west-central Yukon, the company budgeted C$1 million for 2,500 meters of exploration drilling in 2011.

The junior has identified a 9-square-kilometer (3.5 square miles) gold anomaly at Sonora Gulch with significantly elevated gold values that indicated eight priority targets for additional exploration, including the Amadeus, Nightmusic and Gold Vein anomalies.

The Gold Vein Zone, a 1.4-kilometer-(1 mile) long geochemical anomaly averaging 161 parts per billion gold-in-soils was the primary focus of the 2011 exploration which was completed in July.

During the season, Northern Tiger also completed additional surface exploration including prospecting, sampling, mapping and geophysical surveys on its five Minto-style properties in the Dawson Range; on the Birman and Korat properties in the White Gold district and on the gold-rich Deet Property located 85 kilometers, or 53 miles, northeast of Whitehorse.

The Deet property is located at the headwaters of the Livingstone Creek placer gold camp, which reportedly has produced more than 14,000 ounces of placer gold since 1905.

Cash and short-term deposits: C$8.63 million (April 30, 2011)

Working capital: C$8.74 million (April 30, 2011)

Market capitalization: C$36.59 million (Sept. 9, 2011)

220, 17010 - 103 Ave.

Edmonton, AB, Canada T5S 1K7

Tel: 780-428-3465 • Tel: 780-428-3476

 

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