White Tiger Mining Corp. Provides Property Update and Announces Continuation of Drilling at Its Cu-Ag-Au Marshall Lake Property, Ontario
Drilling of the "RM Zone" copper discovery was temporarily postponed by the Company in May 2011 after drill holes RMZ 11-21 and RMZ 11-23 intersected significant widths of copper mineralization from near surface (see the Company's News Releases dated April 5, April 11 and April 20, 2011). Drill hole RMZ 11-21 confirmed the presence of copper mineralization coincident with a significant north-trending IP (induced polarization) anomaly (now known as the "Lease Zone") located southwest of the RM Zone. Drill hole RMZ 11-23 was designed as a step-out hole to test the down-dip extension of the drill hole RMZ 11-21 intercept. Previously announced assay results confirmed similar significant copper mineralization and both Zones remain open to depth and along strike (see the Company's News Release dated May 3, 2011). The temporary drilling postponement gave the Company the opportunity to analyze the results and data from the drilling program earlier this year and to further delineate and correlate significant chargeability anomalies on the adjacent RM and Lease Zones and to expand its IP coverage using east-west and infill lines.
To ensure positional accuracy of the IP geophysical survey, the Company re-surveyed all cut lines and stations with a Trimble Pathfinder ProXRT-2 realtime differential GPS to a positional accuracy averaging less than 35cm. Re-plotting of the IP results (based on adjusted grid lines) has been interpreted to substantiate the presence of a potential fold hinge linking the RM and Lease Zones. In addition, the Company believes that the multi-line continuous chargeability anomalies support the presence of additional near surface mineralization to the north of the RM Zone. The Company currently estimates that the mineralized zones have an aggregate strike length of approximately 900 metres.
Coincidentally, as reported in the Company's News Release dated May 30, 2011, "mise-a-la-masse" downhole geophysical surveys completed from hole RMZ 11-21 and RMZ 10-15 and detailed IP surveys further support the possible convergence of the RM and Lease Zones and have been interpreted by the Company to indicate the presence of a fold hinge in the vicinity of the Lease Zone, which area is the focus of the current drill program presently underway.
Other technical work completed during the recent drilling postponement included 3D modeling of the RM Zone. These results show that the higher grade copper mineralization within the RM Zone is elongate steeply down-plunge to the southeast and remains open to depth. Based on the width and near-surface nature of the mineralization discovered to date, the Company believes that the project will be amenable to low cost open pit mining methods.
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 Mr. Rick Walker, P. Geo., who is acting as the Company's Qualified Person for the current stage of the Company's Marshall Lake property project, in accordance with regulations under NI 43-101. The technical information referred to herein from earlier news releases was reviewed and approved by Robert Middleton, P.Eng., who was acting as the Company's Qualified Person, in accordance with regulations under NI 43-101, for the Marshall Lake property project at the times that such earlier news releases were issued.
White Tiger Mining Corp.
Ronald Coombes
President
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.
Contact Information
White Tiger Mining Corp.
Mr. Clive Shallow, Shareholder Communications
604-922-2030
White Tiger Mining Corp.
Robert A. Young
Investor Relations
604-682-5123
www.whitetigermining.com