White Tiger Mining Corp.: Drill Hole RMZ11-23 Intersects 62.5 m of 0.60% Copper, 2.7 grams/tonne Silver, Including 24m of 1.01%
May 03 2011 - 9:12AM
Marketwired
Further to the Company's news releases of April 5th, 11th and 20th,
2011, White Tiger Mining Corp. (the "Company" or "White Tiger")
(TSX VENTURE: WTC)(FRANKFURT: W0I) is pleased to report the assay
results from drill holes RMZ11-23 and RMZ11-24 for its Marshall
Lake project. The Marshall Lake Property is a copper, silver and
gold exploration project located 30 km west of Nakina, Ontario, and
is accessible via a good all weather gravel road from Hwy 11 and is
22 km north of the main CNR rail line.
"As the RM Zone on the Marshall Lake Property continues to be
expanded with significant intercepts of mineralization, it appears
that the deposit is near enough to surface to be amenable to low
cost open pit mining methods. We are excited with having the entire
Marshall Lake geological setting under option and the drilling
success that we have had to date certainly warrants more drilling
near term. Prior to re-commencing drilling, further IP (induced
polarization) work, including downhole geophysics and structural
mapping, will be completed. Once all of this data has been compiled
and reviewed, the Company is planning to commence an additional
$1.0 million drill program, which is anticipated to begin in June.
This additional drilling will focus on the continued expansion of
the RM Zone with an emphasis on the suspected fold hinge where the
mineralization has potential to become thicker and richer. It is
our goal to complete enough drilling in 2011 to be in a position to
commence preparation of an NI 43-101 resource report on the
Marshall Lake Property," says Ron Coombes, President and CEO of
White Tiger Mining Corp.
The assay results for drill hole RMZ11-23 are as follows:
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Hole From To Width Cu Ag Au
Number (metres) (metres) (metres) (%) (g/tonne) (g/tonne)
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RMZ11-23 40 150 110 0.30 1.5 0.031
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incl 50 57 7 1.45 6.5 0.159
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incl 71 91 20 0.44 2.0 0.044
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221 241 20 0.62 2.3 0.045
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incl 233 237 4 1.76 6.8 0.115
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incl 232 241 9 1.02 4.0 0.080
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269 331.5 62.5 0.60 2.7 0.064
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incl 269 310 41 0.80 3.5 0.070
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Incl 269 293 24 1.01 4.0 0.090
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incl 278 282 4 2.87 9.5 0.242
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incl 278 279 1 6.71 18.3 0.601
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incl 269 300 31 0.90 3.7 0.078
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The true width of the mineralized zones is estimated to be 66% of the
mineralized intersection.
Drill hole RMZ11-23 was collared 25 metres to the south of and
behind drill hole RMZ11-21, and was designed to test the down dip
extension of mineralization in drill hole RMZ11-21. The widths of
copper mineralization intersected in drill hole RMZ11-23 are
substantially larger than expected, or that the geophysical IP
anomalies indicated, and as a result, we are now reviewing all
previous drill hole data in order to better understand the
structural controls and determine whether these previous holes
should be extended further to assess if the mineralization extends
beyond where previously indicated. Drill hole RMZ11-21 was drilled
over a distance of 190 metres to a mineralized vertical depth from
surface of 134 metres and drill hole RMZ11-23 was drilled over a
distance of 331 metres to a mineralized vertical depth of 218
metres. The diagonal nature of these drill holes is important to
note as it means that the mineralization being encountered is much
nearer to surface than the drilling distances indicate.
Drill hole RMZ11-24 was collared 75 metres to the north of and
in front of RMZ11-21 and was designed to, and it appears to have
intersected, the up-dip projection to the surface of the RM Zone
mineralized sections intersected in drill holes RMZ11-21 and
RMZ11-23. Down-hole geophysics is planned to further confirm. This
will also assist the Company to determine the best drill collar
locations for further drilling of the section.
The assay results for the drill hole RMZ11-24 are as
follows:
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Hole From To Width Cu Ag Au
Number (metres) (metres) (metres) (%) (g/tonne) (g/tonne)
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RMZ11-24 19 41 22 0.44 1.9 0.029
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incl 27 32 5 1.06 4.2 0.101
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56.46 66 9.54 0.28 1.4 0.037
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78 106 28 0.32 1.5 0.038
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incl 82 103 21 0.38 1.7 0.046
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The true width of the mineralized zones is estimated to be 66% of the
mineralized intersection.
The drilling and IP geophysics suggest that both the northern RM
Zone and the southern Lease Zone (which the Company describes as
"limbs") are converging at the Lease Zone surface showing within
the suspected fold hinge (100 metres west of hole RMZ11-21).
Since 2006, White Tiger and its joint venture partners have
spent in excess of $5.0 million on the Marshall Lake project and,
during the last 12 months, White Tiger has completed its first $1.0
million of spending on its option to earn a 50% interest in the
project. The new assay results obtained from drill holes RMZ11-23
and RMZ11-24 are in addition to other past significant results from
the RM Zone in particular, and the Marshall Lake Property, in
general.
Drill core was split at the Marshall Lake property and sample
preparation was done by ALS Chemex in Thunder Bay, Ontario. Pulp
samples (less than 75 microns) were then sent by secure courier to
ALS Chemex in North Vancouver, British Columbia and analyzed by ICP
spectrometer ("ICP") using a 0.5g representative pulp dissolved in
Aqua Regia (3 acid) digestion. All samples grading over 1.0% copper
were re-assayed with ore grade ICP and Aqua Regia digestion. Gold
analysis was done on a 30 gram sample by fire assay extraction with
AA ("Atomic Absorption") finish.
White Tiger has the option to earn a 50% interest in the
Marshall Lake project from Rainy Mountain Royalty Corp. ("Rainy
Mountain") (TSX VENTURE: RMO) and Marshall Lake Mining PLC ("MLM")
by spending $4 million in exploration expenditures over 5 years and
issuing 2 million shares over 4 years to Rainy Mountain. As well,
White Tiger has the additional option to increase its interest to
75% by incurring such additional expenditures as are necessary to
take the project to bankable feasibility stage.
This news release has been reviewed and approved by Robert
Middleton, P.Eng., who is acting as the Company's Qualified Person
for the Marshall Lake property project, in accordance with
regulations under NI 43-101.
White Tiger Mining Corp.
Ronald Coombes, President & CEO
This news release includes certain statements that may be deemed
"forward-looking statements" within the meaning of applicable
securities legislation. All statements, other than statements of
historical facts, that address such matters as future exploration,
drilling, exploration activities, potential mineralization and
resources and events or developments that the Company expects, are
forward looking statements and, as such, are subject to risks,
uncertainties and other factors of which are beyond the reasonable
control of the Company. Such statements are not guarantees of
future performance and actual results or developments may differ
materially from those expressed in, or implied by, this
forward-looking information. Factors that could cause actual
results to differ materially from those in forward-looking
statements include such matters as market prices, exploitation and
exploration results, continued availability of capital and
financing, and general economic, market or business conditions. Any
forward-looking statements are expressly qualified in their
entirety by this cautionary statement. The information contained
herein is stated as of the current date and subject to change after
that date and the Company does not undertake any obligation to
update publicly or to revise any of the forward-looking statements,
whether as a result of new information, future events or otherwise,
except as may be required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: White Tiger Mining Corp. Mr. Clive Shallow Shareholder
Communications 604-922-2030 604-922-2037 (FAX) White Tiger Mining
Corp. Robert A. Young Investor Relations 604-682-5123
info@whitetigermining.com www.whitetigermining.com