Northern Tiger grabs high grade gold in Yukon

Vancouver – Northern Tiger Resources’ (NTR-V) share price jumped after releasing impressive grab samples from its recently optioned 3Ace property in southeastern Yukon.

Nine samples were taken on and around the discovery vein on the property in a five-metre-by-15-metre area. Each sample weighed over two kilograms.

Assay results for the samples included 4,820.6 grams gold per ton and 4,259.31 grams gold while the average gold grade for the samples was 1,762.4 grams gold per tonne.

The company’s stock price gained 6.5¢ or 33% on the day the results were released and a further 3.5¢ or 13.5% the following day to close at 29.5¢. Roughly 6 million shares were traded over the two days. The company has 62.8 million shares outstanding and 83.7 million fully diluted.

Northern Tiger optioned the property in April from Yukon prospector Alex McMillan, who discovered a quartz vein with abundant free gold on the property. The company can earn a 100% interest in the property by making cash payments of $500,000, issuing 2 million shares and spend $700,000 on exploration over four years. McMillan keeps a 2% net smelter return royalty on the property that could increase if resource thresholds are met or reduced by payments from Northern Tiger.

The 3,000-ha 3Ace property sits 160km north of Watson Lake. The company continues to work through an initial six week surface exploration program on the property.

Northern Tiger has several other exploration properties in the Yukon including its 5,260-ha. Sonora Gulch project where the company recently started a 3,000-metre drill program.