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| Minerals: |
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Copper-Gold |
| Location: |
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Dawson Range, in the South-central Yukon |
| Area: |
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20,000 acres |
| Ownership: |
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100% by Northern Tiger, subject to Capstone Mining Corp.'s back-in rights |
Overview
These 5 Dawson Range projects - BOND, DAD, MEL, DEL and LED - were acquired by Northern Tiger from Capstone Mining Corp.'s wholly owned subsidiary, Minto Explorations Ltd., in June 2008. The five properties encompass exploration targets where previous prospecting encountered copper mineralization similar to that hosting Capstone's Minto Mine.
In addition, Northern Tiger and Capstone have a Regional Exploration Alliance Agreement (through Capstone's wholly-owned subsidiary Minto Explorations Ltd.), which provides for input and cooperation on planning and executing exploration programs and long term strategies for the area, sharing of technical expertise to assist in exploration and project advancement, and access to Capstone's infrastructure to facilitate area exploration.
DAD Property
Exploration work on DAD has identified a strong geophysical anomaly coincident with a copper-in-soil geochemical anomaly that was tested with two diamond drill holes (404 metres) in 2010. The holes cored short lengths of the target Granite Mountain Batholith (host to the Minto copper-gold deposit) before intersecting an unmapped sequence of pyrite rich meta-sedimentary rocks. This unit is interpreted to be the source of the chargeability anomaly. Copper values up to 363 ppm and gold up to 103 ppb were returned over short intervals.
MEL Property
An airborne geophysical survey has identified a number of magnetic targets on the MEL property, located immediately to the north of the Minto Mine.
Capstone Mining Corp.'s Back-In Rights
Under its agreement with Capstone, they retain back-in rights to acquire a 65% interest in any of Northern Tiger's projects located within a 50 km radius of the Minto Mine that are found to have mineralization amenable to processing in existing Minto Mine facilities. The back-in rights are triggered within 30 days of Northern Tiger presenting Capstone with an independent preliminary economic assessment prepared in accordance with National Instrument 43-101 on a particular property. Capstone will pay to Northern Tiger two times the expenditures spent on the applicable property to the date of acquisition and become sole operator.
The back-in rights may also be triggered within 30 days of Northern Tiger presenting Capstone with a National Instrument 43-101 compliant positive pre-feasibility study. Capstone will pay to Northern Tiger three times the expenditures spent on the applicable property to the date of acquisition and will become sole operator.
Work Program 2011:
A ground geophysical survey to follow up on anomalous copper samples at the BOND property was completed in 2011. Additional prospecting, sampling and mapping were also done on the DEL and LED properties.
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