White Tiger Mining Corp.: Geophysical Surveys and 3D Modeling Further Define Copper RM Zone for the Marshall Lake Property Proje
30 Maio 2011 - 12:50PM
Marketwired Canada
White Tiger Mining Corp. (TSX VENTURE:WTC)(FRANKFURT:W0I) (the "Company" or
"White Tiger") is pleased to announce that 3D modeling has been completed for
certain portions of the Marshall Lake copper, silver and gold exploration
project located 30 km west of Nakina, Ontario. The 3D modeling is based on
analytical data from core drill holes GAZN-07-02, GAZN-08-06 and -08 and
RMZ-10-09, -10, -11, -12, -13, -14, -15, -16, -17, -18 and -19. This analysis
has produced a grade cell block model of the "RM Zone" that shows that the Zone
has a sub-vertical dip to the north and has consistent grade, continuity and
good widths between drill holes. The Company believes that with continued
drilling success of mineralization near surface, the RM Zone is potentially
amenable to low cost open pit mining methods.
Additionally, detailed IP (induced polarization) surveys have now been completed
for the RM Zone target area which indicate a possible fold hinge in the vicinity
of the Lease Zone showing (which is to the southwest and converging with the RM
Zone). Also, a parallel (untested) IP zone has been discovered along the north
side of the RM Zone which potentially adds additional near surface
mineralization.
As well, downhole geophysical ("mise-a-la-masse") surveys conducted between
drill hole RMZ11-21 and RMZ 10-15 appear to indicate the presence of a fold
hinge and also suggest continuity and extension of mineralization east and west
of the drill holes within the RM Zone.
In view of these results and analysis, the Company now intends to proceed with a
phase three drill program, which is scheduled to begin in the coming weeks.
White Tiger has the option to earn a 50% interest in the Marshall Lake project
from Rainy Mountain Royalty Corp. ("Rainy Mountain" - TSX-V: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.
For further information, contact Mr. Clive Shallow, Shareholder Communications,
at 604-922-2030, Robert A. Young, Investor Relations, at 604-682-5123 or visit
the Company's website at www.whitetigermining.com (the Company's 3D model, as
referred to above, will also be posted on its website).
White Tiger Mining Corp.
Ronald A. Coombes, President and 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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