Yukon Territory

Canada’s Yukon Territory is a mining-friendly jurisdiction with long history in mining, starting with the 1897 Klondike Gold Rush. Mining remains an important part of its culture today as the Yukon experiences a modern gold rush. The Tintina Gold Belt, which extends from British Columbia to Alaska, is underexplored in its central section spanning the Yukon Territory including where it crosses the un-glaciated Dawson Range. The geologic potential in the Dawson Range is demonstrated by production mines and significant exploration and mine development projects, including the company’s Sonora Gulch Project:

·      Capstone Mining Corp. (TSX.CS) is producing gold and copper from its Minto Mine

·      Western Copper and Gold (NYSE:WRN) is permitting their prefeasibility study for surface mine development of the Casino Project , a gold and copper porphyry deposit

·      Kaminak Gold (TSX-V.KAM) is exploring the important discovery at its Coffee Gold Project

Other important developments in the central section of the Tintina Gold Belt include:

·      Alexco Resource Corp.(NYSE.AXU, TSX.AXR) is producing silver from its underground Keno Hill Mine

·      Yukon Zinc is a private company ramping up production of silver and zinc at their underground Wolverine Mine

·      ATAC Resources (TSX-V.ATC) has discovered a sediment-hosted, Carlin Trend-type gold deposit in the Rau Trend at its Rackla Gold Project

Across the territory from the Dawson Range, along the Yukon-Northwest Territories border near British Columbia, is the Hyland Gold Belt, an eastern extension of the larger Tintina Gold Belt. Northern Tiger’s 3Ace and Sprogge Projects are located in the Hyland Gold Belt, where the company’s discovery of a bonanza-grade outcrop with visible gold in 2010 sparked a gold rush to this area. Several other exploration groups have recently acquired claims in this area that has seen a few historic high-grade gold showings but is largely underexplored. With the impressive 3Ace discovery, historic gold occurrences, and an active tungsten mine in this area, exploration activities should increase in the emerging Hyland Gold Belt in the coming years. Already, other explorers are looking to join the rush.

COMPANY PROFILE AND KEY MANAGEMENT

Northern Tiger is a Canadian-based resource exploration company focused on gold and copper exploration in Yukon. Northern Tiger is publicly traded on the TSX Venture Exchange. Approximately 40% of the company is owned by institutions, including Haywood Securities and Sprott. The company’s experienced management team has a track record of success and strong community relations in Yukon.

Greg Hayes, CA, is President, CEO and Director and provides financial consulting services to junior exploration companies and other clients in northwestern Canada. He is currently the Chief Financial Officer of Firestone Ventures Inc. and was previously the Chief Financial Officer of Shear Minerals Ltd., both based in Canada. He has been Chartered Accountant since 1997.

Dennis Ouellette is Vice President of Exploration and has been in mineral exploration since 1977 including District Geologist for the Department of Indian Affairs and Northern Development, Yukon Region, and as Manager of the Yukon Chamber of Mines. His previous experience includes working for United Keno Hill Mines, Falconbridge, and Goldquest Exploration (Goldcorp).

Brad Mercer, P. Geo., is an Independent Director of Northern Tiger and Vice President of Exploration for Capstone Mining Corporation. He has managed exploration programs and participated in feasibility evaluations focused in the Americas for 27 years and is credited with discovering eight copper-gold deposits at Capstone’s Minto Mine in the Dawson Range as well as discoveries at the Cozamin Mine in Mexico.

Jesse Duke, P. Geo., is an Independent Director based in Whitehorse, Yukon, and is a long-time Yukon resident with over 20 years of experience working in the mineral industry throughout the north. He is the principal of Ibex Valley Consulting, which provides services to northern mining companies. He was recently the Manager of the Whitehorse office for the environmental consulting firm Gartner Lee Ltd. that supports mining clients in Yukon, Northwest Territories, British Columbia and Alaska. Previously, he was Director of Mineral Development for the Government of Yukon and was involved in the design and implementation of many of Yukon’s mineral industry programs and policies.

Charles Liard McMillan holds an Advisory Board position and is the current elected Chief of the Liard First Nation, based in Watson Lake, Yukon. He has been responsible for operation of the Liard First Nation Government since first elected in 2003. Chief McMillan has been successful in implementing capital revenues for many new First Nation projects. He is active in negotiating an agreement with the Yukon Government with respect to the development, management and control of oil and gas resources in the Southeast Yukon.

PROJECTS

3Ace Project

3Ace is located on 50,000 acres in the Hyland Gold Belt in southeastern Yukon along the border of the Northwest Territories, approximately 160 km north of Watson Lake. The property is adjacent to all-year access Nahanni Range Road, 40 km from the Cantung Mine operated by North American Tungsten’s (TSX.NTC). Northern Tiger has an option to earn 100% interest on the property.

In July 2010, a massive visible gold sample assaying at 4,820.6 kg/tonne gold (140.6 ounces/ton), was found at a Main Zone vein outcrop.

In 2011, a $6 million exploration program at 3Ace and the adjacent Sprogge Project continued exploration in the Main Zone and extended to additional targets. Nine new gold occurrences were identified at 3Ace, including the new Kaiser Trend, a 1,500 m by 250 m gold-in soil anomaly, extension of the Green Zone East target to 1,250 m by 500 m, location of an outcrop of quartz pebble conglomerate with gold-bearing quartz veins as a lode deposit, and the source of several gold-in-soil anomalies.

Highlights of the drill program in the Main Zone, the source of the amazing quartz vein outcrop with visible gold, include:

• 4.61 g/t gold over 35.0 m, including 106.21 g/t over 1.0 m

• 2.58 g/t gold over 53.0 m, including 17.72 g/t over 2.0 m

• 4.37 g/t over 10.0 m and 70.11 g/t over 1.1 m

Numerous gold assays from soil geochemistry and drill intercepts imply 3Ace has potential for both surface and underground mining targets with high-grade veins and wider zones with disseminated low-grade mineralization.

Geologically, the drill core indicated the holes are high in this orogenic-type deposit, so mineralization could continue much deeper. The bonanza-grade assays also imply this is an exceptionally rich system and potentially related to a very large underlying gold deposit.

Sprogge Project

Sprogge is a 14,000 acre property adjacent to the east boundary of 3Ace. The property was optioned in April 2011 from Newmont and Alexco, who will have a first right of offer on any proposed sale of the property for four years. Sprogge is on trend with 3Ace and, due to its close proximity, was explored in conjunction with 3Ace in the $6 million exploration program in 2011 that identified a 3km long trend of alteration and sulfide mineralization at Sprogge.

The 2011 program at Sprogge consisted primarily of mapping and prospecting with the goal of identifying specific targets for drill testing in 2012. The 2,400 m by 1,200 m Sugar Bowl Zone hosts geochemical targets that make a strong case for further drill testing: Rock chip samples taken along a 2.5 km ridge contain numerous multi-gram gold values up to a maximum of 34.8 g/t, and including 6.9 g/t  gold over 12.0 m and 9.6 g/t gold over 4.0 m.

The full potential in the target area remains to be explored. In 2000, NovaGold started a drill program that was restricted due to poor weather conditions to the lowest elevations along the northern boundary of the surface anomaly. The four holes that were drilled (762 m) revealed considerable hydrothermal alteration, but did not replicate the grades found in the surface exploration. Most of the Sugar Bowl Zone remains to be drill tested and a number of other geochemical targets warranting follow up have been identified on the property.

Sprogge also has potential for a large halo of disseminated low-grade gold mineralization, and is being prospected for surface lode mine potential. The adjacent claims at 3Ace and Sprogge total 225 km², but only 5% of property has been sampled. With ample anomalous gold assays to follow up on, there is potential for many new lode discoveries that could be part of an overall very large deposit.

Sonora Gulch Project

Sonora Gulch is located in the Tintina Gold Belt in the Dawson Range in south-central Yukon and is 40 km west of Capstone’s high-grade Minto Mine. Exploration at Sonora Gulch has outlined a 9 km² gold-in-soil anomaly containing a large multi-center porphyry system. A Titan geophysics survey indicated potential for a large porphyry deposit with similar age rocks and targets as the nearby Casino project by Western Copper and Gold.

Past drilling intercepted high-grade gold in three separate zones:

·         Amadeus Zone 15.3m of 6.2 g/t gold and 64m of 1.0 g/t gold

·         Nightmusic Zone: 26.6m of 5.0 g/t gold, 11.9 g/t silver and 0.23% copper

·         Gold Vein Zone: 6.0 m of 7.6 g/t gold and 155.5 g/t silver

 

In 2011, a 2,649 m diamond drill campaign was completed. The primary focus was the Gold Vein Zone, a 1.4 km by 500 m wide geochemical anomaly. Drilling intercepted thick intervals of near-surface, bulk tonnage mineralization, including:

·         0.42 g/t gold and 3.8 g/t silver over 94.0 m

·         0.45 g/t gold and 3.0 g/t silver over 234.0 m

·         0.44 g/t gold and 2.6 g/t silver over 110.0 m

 

 

 

A NI 43-101 Compliant Technical Report completed in March 2011 by Watts, Griffis and McOuat Ltd. recommended a 16,400 m drill program. Targets include both structurally or lithologically controlled gold-silver mineralization and bulk tonnage porphyry mineralization.

 

Northern Tiger’s 2012 plan is to focus on exploring high-grade mineralization at 3Ace and Sprogge. Because of its large bulk tonnage but low-grade porphyry, the company is considering a joint venture to continue exploration at Sonora Gulch, which also shows high-grade visible gold in quartz veins and in valley as placer deposits.

 

Exploration Alliance with Capstone Mining

Northern Tiger has an exploration alliance with Capstone Mining subsidiary Minto Explorations Ltd. on five projects near Capstone’s high-grade copper-gold Minto Mine. The benefits to the company of this strategic alliance are cooperation on long term strategies in the Minto area, sharing technical expertise, and access to infrastructure to support exploration in the region.

 

CONCLUSION

Based on 2011 results, the company’s priority for the 2012 season will be further exploration of the high-grade mineralization at the 3Ace and Sprogge Projects in the Hyland Gold Belt. The 2011 exploration program identified nine new gold occurrences at 3Ace and a 3km long trend of alteration and sulfide mineralization at Sprogge. Only 5% of the 225 km² 3Ace and Sprogge properties have been sampled. Northern Tiger built a 50-man camp at 3Ace/Sprogge to support further exploration.

 

Soil geochemistry and drill intercepts imply 3Ace has potential for both surface and underground mining targets with high-grade veins and wider zones with disseminated low-grade mineralization. The drill core indicated the holes are high in this orogenic-type deposit, so mineralization could continue much deeper. The bonanza-grade assays also imply this is an exceptionally rich system and potentially related to a very large underlying gold deposit. Sprogge is on trend with 3Ace and has potential for a large halo of disseminated low-grade gold mineralization. It is being prospected for surface lode mine potential. With ample anomalous gold assays to follow up on, there is potential for many new lode discoveries that could be part of an overall very large deposit.

 

At Sonora Gulch, a Titan geophysics survey indicated potential for a large porphyry deposit with similar age rocks and targets as the nearby Casino project by Western Copper and Gold and consistent with bulk tonnage porphyry mineralization. Northern Tiger is considering options to leverage exploration resources needed for the large-scale porphyry deposit.

 

Northern Tiger has aligned its strategic position with exploration results to take advantage of the potential in both the Dawson Range and the Hyland Gold Belt. Sound strategy, deep local expertise, and strong community and First Nation support position the company to continue to be a leader in the New Yukon Gold Rush.

 

Northern Tiger 3 Year Stock Chart

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-- Posted Tuesday, 8 May 2012 | Digg This Article | Source: GoldSeek.com

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