||Southeastern Yukon; 160 km north of Watson Lake, along Yukon Highway 10, and is adjoined to the east boundary of Northern Tiger's 3Ace Property
||Under option to earn into a 100% interest
Work Program 2012:
- Sprogge is on-trend with the 3Ace Project and due to its close proximity, will be explored in conjunction with 3Ace in 2012.
- Contains the 2,400 by 1,200 metre Sugar Bowl Zone, which hosts compelling geochemical targets that warrant drill testing:
- Rock chip samples taken along a 2.5 km ridge contain numerous multi-gram gold values up to a maximum of 34.8 g/t, and including 6.9 g/t gold over 12.0m and 9.6 g/t gold over 4.0 m.
- A 1,200 metre by 600 metre core area averages more than 200 ppb gold in soils and returned a maximum gold-in-soil value of 10.3 g/t.
- Four holes (762 metres) drilled in 2000 by NovaGold encountered considerable hydrothermal alteration, but did not replicate the grades found in the surface exploration. (The drilling program was hampered by poor weather, however, and was only able to test the lowest elevation targets along the northern boundary of the surface anomaly.)
- Most of the Sugar Bowl Zone remains to be drill tested, and a number of other geochemical targets warranting follow-up have been identified on the property.
- Optioned from Newmont and Alexco in April 2011.
The 2012 program at 3Ace/Sprogge will include 3,000 metres of diamond drilling, as well as additional surface exploration, including trenching, sampling prospecting and mapping. This will include initial drill testing of several Sprogge targets.
The Option Agreement provides Northern Tiger with an option to earn a 100% interest in the property from the Vendors. Under the terms of the proposed agreement, Northern Tiger will be required to make cash payments of $500,000 over a three year period and incur $1,000,000 in exploration expenditures over a four year period. The Vendors will retain a 2% net smelter return interest (NSR) on the property. Northern Tiger can purchase 1% of the NSR for $1,000,000. The Vendors will have a first right of offer on any proposed sale of the property for four years.
Maps & Diagrams