Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (38412)	6/11/2009 4:03:50 PM
From: LoneClone	Read Replies (1) \| Respond to of 194794

Northern Tiger Has Grabbed A Strong Position In The Dawson Range Gold Rush By Charles Wyatt minesite.com The two words ‘gold rush’ send a frisson of excitement down the back of anyone interested in mining. Those who are a bit older will remember the rush at Hemlo near the town of Marathon north of Lake Superior after three prospectors discovered gold there in the early 1980s. Two companies, Golden Sceptre and Goliath Resources, secured rights to a large land package in the area, and were subsequently acquired by Noranda. Noranda permitted and built the Golden Giant mine and peak production of 500,000 ozs/year was achieved in the early 1990s. During its 21 year life the mine produced over six million ozs gold. The point of this little bit of history is that there were a lot more junior mining companies who staked ground around Hemlo and, as the excitement grew, the share prices of many rocketed. Now there are signs of a gold rush developing in the rapidly developing Dawson Range, south east of Dawson City in the Yukon. It is still at a fairly early stage, but more and more companies are showing interest, although they’re not after the alluvial gold that caught the eyes of the old timers as they trekked up from Whitehorse to Dawson City on their way to the Klondike goldfields. Some of these old timers stopped their journey long enough to pan rivers and streams in the Dawson Range, but greed for the supposed riches of the Klondike usually drove them on. Dawson Range is on the unexplored eastern end of the Tintina gold belt. This contains at least three big mines to the west over in Alaska. Pogo and Fort Knox are near Fairbanks, and Donlin Creek is further west still. Northern Tiger Resources, the gold-copper-silver exploration company which split off from Firestone Ventures last year, has a prime position on the Dawson Range at its Sonora Gulch project, and it also has an exploration alliance with Capstone Mining, the company which owns and operates the producing Minto mine only 35 kilometres away. Other listed companies with properties in the Dawson Range are Western Copper, Northern Freegold Resources and Underworld Resources. All are reporting successful exploration. Underworld has recently reported an intersection of 104 metres at 3.4 g/t gold at its White Gold project, Northern Freegold’s 2008 drilling results included 9.4 metres at 70.2 g/t gold and 0.21% copper. Western Copper for its part is awaiting permitting of its Carmacks copper mine and has finished a pre-feasibility study on the Casino project. Through its exploration alliance with Capstone Mining, Northern Tiger benefits from a wide range of capabilities, from expertise in early exploration through to mine production in this particular area. It will therefore be able to use Capstone’s proprietary technical expertise to explore for additional Minto–type deposits as well as deploying its extensive historic data to generate additional Dawson Range targets. Capstone has also set up significant infrastructure around Minto and all is being made available to Northern Tiger to reduce local costs. As Greg Hayes, president of the company points out, the Yukon is not the easiest bit of country in which to operate, so the Capstone alliance is vital. Sonora Gulch is Northern Tiger’s prime asset. It’s situated between Underworld Resources and the Minto copper-gold mine, where a hefty increase in the measured and indicated resources of copper and gold has just been reported. Exploration at Sonora Gulch has indicated the existence of a strongly altered system hosting multiple styles of mineralization over at least two kilometres. Two significant zones of gold mineralization have already been discovered along this trend, at the Nightmusic and Amadeus zones, so some geologist must be a lover of Mozart. One hole at Nightmusic hit 26.6 metres grading 5 g/t gold, 11.9 g/t silver and 0.23% copper, and this included 4 metres of 25.8 g/t gold and 6.5 g/t silver. At Amadeus a 15.3 metre intercept graded 6.2 g/t gold and 3 g/t silver including a 5 metre zone of 12.2 g/t gold and 4.8 g/t silver. Northern Tiger also acquired 5 other projects from Capstone with the unlikely names of Bond, Dad, Del, Led and Mel, and it is interesting to note that all are close the Yukon River in what could be crucial positions as the gold rush proceeds. The company has budgeted C$1 million for exploration this year and has just raised C$500,000 towards this by a private placement. The funds will be used for more drilling on Nightmusic as well as for drill testing the Allegro anomaly. More surface exploration is being carried out at Sonora Gulch to delineate future drilling targets and, according to Greg Hayes, a close look will be taken at two of the Minto-style properties to get at least one ready for drilling next year. It will clearly be worth keeping a close eye on news from Northern Tiger as the year proceeds, as this gold rush has a way to go.