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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Rainy Mountain Royalty Corp | TSXV:RMO | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.06 | 0.045 | 0.06 | 0 | 00:00:00 |
White Tiger Mining Corp. (the "Company" or "White Tiger") (TSX VENTURE:WTC)(FRANKFURT:W0I) is pleased to announce that a phase one, core drilling program on its Marshall Lake Property has resulted in an exciting new high grade discovery of copper (Cu), silver (Ag) and gold (Au). Under the phase one program, three holes were drilled in a north-south section, 25 metres south or beneath GAZN-08-07 and west of drill hole GAZN-08-06 (as previously released) and all three drill holes have intersected copper sulphide zones. Wide zones of disseminated sulphides are seen in all of the holes and within the disseminated sulphide envelope there are two distinct zones of semi massive sulphides (one being associated with high silica rhyolite and the other being associated with a footwall chlorite alteration-shear zone). It is significant to note that continuity of the sulphide intercepts has been established between the holes. During the current drill program, the strike length of the sulphides has been traced for 125 metres towards the historical Lease Zone, which is 200 metres further to the west. This gives the current "RM Zone" (formerly referred to as the North Gazooma Zone) a potential 325 metre strike length of copper occurrence. "We are very pleased with the results from the initial phase of drilling on the Marshall Lake Property. It is very encouraging that the zone of copper mineralization has extended westward with remarkable continuity," says Ron Coombes, President and CEO of White Tiger Mining Corp. Drill Hole Summary Drill Holes GAZN-10-10, GAZN-10-11 and GAZN-10-15 were all drilled in a north-south section beneath drill hole GAZN-08-07, thus creating a 4 hole cross section. All of these holes intersected high silica rhyolite with disseminated and stringer chalcopyrite. A deeper hole beneath GAZN-10-15, as well as eastern and western step-outs, have also been drilled and assay results are pending. An orientation and location hole, GAZN-10-09, was also drilled but did not encounter significant mineralization. Drill hole GAZN-10-10; a 25 metre southern step out from drill hole GAZN-08-07, intersected 78 metres of 0.42% Cu, 2.05g/t Ag and 0.09g/t Au, including a 5 metre intersection grading 1.89% Cu, 12.04g/t Ag and 0.7g/t Au. Drill hole GAZN-10-11; a 25 metre southern step out from drill hole GAZN-10-10, intersected 32.6 metres of 1.04% Cu, 5.13g/t Ag and 0.15g/t Au, including a 5 metre intersection grading 1.89% Cu, 12.04g/t Ag and 0.7g/t Au. This hole also included this program's highest grade sample to date, grading 9.32%Cu, 49.8g/t Ag and 1.12g/t Au over a 1 metre interval. Drill hole GAZN-10-15; a 25 metre southern step out from drill hole GAZN-10-11, intersected 23 metres of 1.34% Cu, 6.75g/t Ag and 0.29g/t Au, including a 5 metre intersection grading 4.08% Cu, 20.6g/t Ag and 1.12g/t Au. ------------------------------------------------------------------------- Hole From To Width Cu Ag Au Number (metres) (metres) (metres) (%) (g/tonne) (g/tonne) ------------------------------------------------------------------------- GAZN-10-10 38 116 78.0 0.42 2.05 0.09 ------------------------------------------------------------------------- Including 111 116 5.0 1.89 12.04 0.70 ------------------------------------------------------------------------- GAZN-10-11 82 143 61.0 0.69 3.4 0.11 ------------------------------------------------------------------------- Including 110.4 143 32.6 1.04 5.13 0.15 ------------------------------------------------------------------------- Including 117 122 5.0 3.53 18.16 0.52 ------------------------------------------------------------------------- Including 120 121 1.0 9.32 49.8 1.12 ------------------------------------------------------------------------- GAZN-10-15 149 172 23.0 1.34 6.75 0.29 ------------------------------------------------------------------------- Including 155 160 5.0 4.08 20.6 1.12 ------------------------------------------------------------------------- Including 157 159 2 7.25 35.9 2.03 ------------------------------------------------------------------------- In light of the success of this first exploratory phase, a second stage of follow-up drilling is now being planned. Drill core was split at a secure facility in Thunder Bay, Ontario and sample preparation was done by ALS Chemex in Thunder Bay, Ontario. Pulp samples (less than 75 microns) were then sent by secure courier to ALS Chemex in North Vancouver, British Columbia and analyzed by ICP spectrometer ("ICP") using a 0.5g representative pulp dissolved in Aqua Regia (3 acid) digestion. All samples grading over 1.0% Cu were re-assayed with ore grade ICP and Aqua Regia digestion. Gold analysis was done by fire assay with AA ("Atomic Absorption") finish. The Marshall Lake Property is located 30 km west of Nakina, Ontario and access is by all weather gravel road from Hwy 11 and the main CNR rail line is within 22 km to the south of the Property. White Tiger has the option to earn a 50% interest in the Marshall Lake Property 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. This news release has been reviewed and approved by Robert Middleton, P.Eng., who is acting as Qualified Person for the Company's Marshall Lake Property project in accordance with regulations under NI 43-101. 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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