Candelaria Mining Corp T.CAN

NTR Northern Tiger samples 4,820.6 g/t Au at 3Ace

[doubledowndave]

2010-07-27 06:38 ET - News Release


Mr. Greg Hayes reports
NORTHERN TIGER RESOURCES VERIFIES HIGH-GRADE GOLD AT 3ACE
Initial grab samples collected on and around the discovery vein on Northern Tiger Resources Inc.'s 3Ace property in the southeast Yukon have verified the high-grade nature of the gold mineralization.
"We are excited about verifying the high-grade gold content of the discovery vein. The nine samples returned values of almost one ounce of gold per ton to 140 ounces per ton," said Greg Hayes, president of Northern Tiger. "In the company's opinion, the tenor of the gold mineralization in the outcropping discovery vein makes the 3Ace property a very compelling prospect in an underexplored region of the Yukon."
Nine grab samples gathered on an initial site visit contained from minor to abundant course visible gold, and returned gold values, which can be seen in the table.
Sample Type Gold assay (grams/ton) Gold assay (ounces/ton)I034662 Vein 4,820.60 140.60I034659 Float 4,259.31 124.23I034658 Float 2,477.09 72.25I034656 Float 2,063.56 60.19I034660 Float 1,416.59 41.32I034657 Vein 591.65 17.26I034661 Float 119.66 3.49I034654 Float 83.58 2.44I034655 Vein 29.88 0.87
The average gold assay from the nine samples was 1,762.4 grams/tonne (51.4 ounces/ton). Each sample weighed in excess of two kilograms. The samples were collected from a five-metre-by-15-metre area. Three of the samples were collected from different locations on the outcropping vein and six samples were collected from float boulders located down slope from the vein. The native gold is distributed as disseminations and fracture coatings and fillings within massive white crystalline quartz vein material. Grab samples are selective by nature and are unlikely to represent average grades for the property. In addition, investors are cautioned that all samples containing course native gold should be considered to have an inherent "nugget effect."
The north-trending discovery vein is hosted in a shear-zone-cutting Yusezya formation of the Upper Proterozoic to Early Cambrian Hyland Group. On the 3Ace property, the formation consists predominantly of quartz-pebble conglomerate and quartz arenite, in places with a calcareous matrix, and black and maroon shales and slates. The quartz-rich sediments act as a brittle host and are subject to extensive fracturing and quartz vein emplacement.
A surface exploration program is under way, including detailed structural mapping, prospecting and regional sampling, as well as chip sampling of native gold and other occurrences. Company geologists are compiling the exploration data and developing appropriate geological and exploration models.
This news release has been reviewed and approved by Dennis Ouellette, BSc, PGeol, a qualified person as defined by NI 43-101. All samples were analyzed by Inspectorate America Corp. of Richmond, B.C. Gold was analyzed by a metallic screen fire assay, and other elements were analyzed with a 50-element, four-acid ICPMS.
We seek Safe Harbor.