Jul 19 2013
Northern Tiger Resources Inc. ("Northern Tiger" or the "Company") is pleased to announce that their Korat and Del Projects have been approved for funding under the Yukon Mining Incentives Program ("YMIP"). Through YMIP, the Yukon Government will fund 50% of the planned $70,000 exploration programs at each of the projects.
"We are pleased to have the Yukon Government approve two of the Company's projects for YMIP funding," says Greg Hayes, President of Northern Tiger. "The cost-sharing agreement allows us to advance two of our promising early stage projects on a very cost effective basis."
Korat
The Korat Property is fully enclosed within Comstock Metal Ltd.'s ("Comstock") QV Property, where a recent discovery has returned drilling results up to 2.3 g/t gold over 89.9 metres.
Korat hosts an 800-metre long gold-in-soil anomaly within a larger 1,600-metre pathfinder anomaly (see news release dated November 8, 2012). 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 Golden Saddle deposit and Comstock's new QV discovery.
An exploration program of in-fill soil sampling, rock sampling, mapping and prospecting has been planned, followed by trenching of promising targets. Similar exploration methodologies have been highly successful at identifying other recent White Gold discoveries.
DEL
The DEL Project is approximately 30 kilometres southeast of the Capstone Mining Corp's operating Minto Mine, and 10 kilometres north of Copper North Mining Corp.'s Carmacks Copper deposit.
Soil sampling in 2010 and 2011 outlined a 400-metre by 300-metre area of anomalous copper-in-soils that remains open to the west and to the south. In 2012, an IP and magnetic geophysical survey resulted in the definition of a moderate chargeability anomaly that partially overlapped the copper-in-soil anomaly. An expansion of both the soil grid and the IP survey has been planned to fully define the anomalous area and assist in identifying the most promising drill targets.
CFO Resignation
Mr. Darcy Ogrodnick has tendered his resignation as Chief Financial Officer of the Company to pursue other interests. Director Pamela Strand will take over as interim Chief Financial Officer.
"Mr. Ogrodnick has been a valuable member of the Northern Tiger's management team since the Company's inception in 2008," says Greg Hayes, President of Northern Tiger. "We are sorry to lose his valuable contribution, but wish him the very best in his future endeavours."
This News Release has been reviewed and approved by Dennis Ouellette, B.Sc., P.Geol., a Qualified Person as defined by NI 43-101.
Northern Tiger Resources Inc. (NTR: TSX-V) 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 has intersected 4.6 g/t gold over 35.0 metres (including 106.2 g/t gold over 1.0 metre) at the Company's flagship 3Ace Project in southeast Yukon. The Sonora Gulch copper-gold-silver porphyry project in central Yukon also has also returned significant drill results, including 0.45 g/t gold and 3.0 g/t silver over 234.0 metres.
For further information please contact:
Greg Hayes, President and CEO
[email protected]
Source: http://www.northern-tiger.com/