White Tiger Mining Corp.: Marshall Lake Copper-Silver-Gold Project-IP Surveys Traces RM Zone 600 m
23 Março 2011 - 1:15PM
Marketwired Canada
White Tiger Mining Corp. (the "Company" or "White Tiger") (TSX
VENTURE:WTC)(FRANKFURT:W0I). In connection with the Company's Marshall Lake
project (located 30 km west of Nakina, Ontario), White Tiger is pleased to
report that further detailed IP (induced polarization) surveys have been
completed at 50 m line spacing (to infill the Company's previously completed 100
m line IP surveys). The recent IP surveys were designed to assist the Company in
following the strike extension of the near surface copper-silver-gold discovery
(referred to as the "RM Zone"), which was core drilled in November 2010. The
recent infill IP surveys also indicate the existence of another geophysical
anomaly as a possible northeast extension to the RM Zone that was not observable
from the previous 100 m IP survey. The Company believes that the geophysics
indicates a link between the RM Zone and the historical showing known as the
"Lease Zone" (see the Company's news releases dated November 3, November 17 and
December 1, 2010).
The RM Zone has now been traced for 600 m and the Phase 2 core drilling program
(soon to be underway) has been designed to test the west sub parallel section
(which has been traced for 200 - 250 m in strike length), and the northeast
potential extension for an additional 300 m. The southern section joins the RM
Zone trend at the "Lease Zone" showing, which suggests a possible fold
structure. Markers (such as a fragmental volcanic unit observed along the
southern flank of the RM Zone) will be used to define the structure.
The initial 2,300 m Phase 2 core drilling program is designed to define the
potential strike extension which will then be followed up by detailed infill
drilling to potentially identify a measured or indicated NI 43-101 resource.
Drilling is expected to continue through most of April 2011. Further updates
will be released as drilling proceeds and results are received and analyzed.
White Tiger has the option to earn a 50% interest in the Marshall Lake project
from Rainy Mountain Royalty Corporation ("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 RMO. 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.
The Company's geophysical and drill programs for the Marshall Lake project have
been supervised by R. Middleton P.Eng. Further, this news release has been
reviewed and approved by Robert Middleton, P.Eng., who is acting as the
Company's Qualified Person for this project in accordance with regulations under
NI 43-101.
White Tiger Mining Corp.
Ronald A. 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.
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