White Tiger Gold Ltd.
TSX : WTG

White Tiger Gold Ltd.

September 28, 2011 07:17 ET

White Tiger Gold Announces Positive Drilling Results on Its Nasedkino Gold Project

TORONTO, ONTARIO--(Marketwire - Sept. 28, 2011) - White Tiger Gold (TSX:WTG) ("the Company") is pleased to announce assay results from a major diamond drilling program currently being conducted on the Nasedkino and Uryum license areas located in south Siberia, Russian Federation. This announcement represents the first update on the 40,000 meter program which commenced earlier this and contains the assay results for 80 drill holes comprising 8866 meters. The program is designed to increase the conversion of historical Russian approved C1+C2 gold resources into National Instrument 43-101 ("NI43-101") compliant mineral resources and to expand the current limits of the known mineralization at the Zhelanny, Gora 5 and Pridolinny deposits and other new gold prospects such as Gluharinny.

The drilling program is managed by LLC Urangeo-Amur, under the direct supervision of the TOMS Group ("TOMS"), an independent exploration and engineering company with offices in Irkutsk and St Petersburg. TOMS has extensive exploration management experience for a wide range of projects located throughout Russia and the company is approved by the State Government.

Highlights

  • Three diamond drill rigs dedicated to in-fill drilling on the Gora 5, Zhelanny and Pridolinny deposits and a fourth rig is testing 3 new exploration targets on the Uyrum license area. Core recovery has been excellent for the entire drill program averaging in excess of 95%.
  • In-fill drilling on Gora 5 and Zhelanny designed to increase the conversion of historical Russian approved C1 + C2 gold resources deposits has shown that excellent continuity exists between the wide spaced historical drilling results and the new assay results reported in this news release.
  • Drill results from the Zhelanny deposit have returned better gold grades in comparison to the average grade for the total inferred mineral resource for Zhelanny deposit. Notable intersections USING UNCUT ASSAYS include 11.5 meters averaging 72.9 g/t Au in drill hole 607 and 23.2 meters averaging 1.72 g/t Au in drill hole 612 and 8.0 meters averaging 18.56 g/t Au in drill hole 771.
  • Drill results from the Gora 5 have also returned higher gold grades in comparison to the average grade for the total inferred mineral resource for Gora 5 deposit. Notable intersections include 40.0 meters averaging 3.97 g/t Au in drill hole 658 and 23.8 meters averaging 2.44 g/t Au in drill hole 619.
  • Drilling at the Gluharinny prospect has discovered a new zone of gold mineralization. The best intersection includes 8.2 meters averaging 2.22 g/t Au and 18.56 g/t Ag in drill hole 659.

Zhelanny Deposit

The Zhelanny gold-silver-copper mineralization forms a northwest trending zone that is 450 meters in length and is inclined to the northeast at 35-65°. The principal host rocks for the gold mineralization comprise plagioclase-quartz-biotite and plagioclase-quartz-garnet-biotite ± sillimanite gneiss which have experienced retrograde calc-silicate alteration comprising a mineral assemblage of biotite-Kspar-actinolite-scapolite-haematite-carbonate. The dominate iron sulphide mineral is pyrite which ranges in content from 2-5% and is associated with minor pyrrhotite, chalcopyrite and marcasite. Drilling has encountered at least 3 subparallel zones of gold mineralization achieving a maximum combined thickness of 47 meters in drill hole 771. In-fill drilling is being carried out on a 25 x 50 meter grid. The current mineralized intersections reported in Table 1, exhibit good continuity with the historical intersections both along strike and down dip. Visible gold has been recognized in drill holes 607, 753 and 771. The mineralization is open below a vertical depth of 140 m and is potentially open to the south. In total, 73 holes have been drilled on the Zhelanny deposit for 7312 meters of which 40 holes were completed in 2011 for 4186 meters. The current 2011 drilling results including significant gold intersections are reported in Table 1. Assays results for 17 holes are still outstanding.

Table 1: Assay Results Zhelanny Drilling Program (at 0.7 g/t Au cut-off)
Section DDH Depth Azimuth Dip From To Length Au Ag Cu
Line No. (m) (deg) (deg) (m) (m) (m) (ppm) (ppm) (ppm)
LC-520 600 120.0 240 60.0 94.6 101.8 7.2 1.32 1.02 183
LC-520 602 85.0 240 60.0 5.2 11.0 5.8 1.36 2.40 498
LC-520 602 54.6 59.7 5.1 0.75 1.06 172
LC-520 604 65.0 240 60.0 25.2 29.3 4.1 3.92 6.73 2943
LC-520 606 99.6 240 60.0 No Significant Results
LC-520 608 45.0 240 60.0 No Significant Results
LC-530 745 120.4 239 60.5 No Significant Results
LC-540 601 103.1 240 60.0 82.0 86.2 4.2 1.19 1.83 290
LC-540 613 200.0 222 57.2 1.0 4.0 3.0 1.11 18.30 3030
LC-540 613 11.0 24.0 13.0 0.99 27.37 5054
LC-540 603 30.0 240 60.0 No Significant Results
LC-550 753 40.0 239 60.3 27 33 6.0 4.17 n/a n/a
LC-550 753 including 31.2 31.8 0.6 32.35 n/a n/a
LC-560 605 95.0 240 60.0 No Significant Results
LC-560 607 80.0 240 60.0 51.5 63.0 11.5 72.91 3.96 140
LC-560 607 including 54.2 61.0 6.8 122.33 6.23 105
LC-560 610 130.0 240 60.0 No Significant Results
LC-560 611 50.0 240 60.0 No Significant Results
LC-580 609 170.0 240 60.0 62.0 72.5 10.5 2.49 21.44 2241
LC-580 609 170.0 240 60.0 89.9 105.0 15.1 0.92 2.66 508
LC-570 771 108.3 238 59.2 30 48.4 18.4 8.74 n/a n/a
LC-570 753 including 32.3 40.3 8.0 18.56 n/a n/a
LC-570 771 55.0 94.0 39.0 2.28 n/a n/a
LC-580 612 111.5 232 62.4 0.8 6.7 5.9 1.69 2.79 2
LC-580 612 12.5 35.7 23.2 1.72 1.82 6
LC-580 612 39.0 52.8 13.8 1.46 1.06 53
LC-580 614 90.5 240 60.0 3.0 11.7 8.7 1.57 1.21 16
LC-580 616 83.4 240 60.0 No Significant Results
LC-580 617 212.0 240 57.8 No Significant Results
LC-600 647 225.0 243.5 58.0 No Significant Results
*True thickness of the mineralized zone is unknown and is reported as drill hole length

Gora 5 Deposit

The Gora 5 gold-silver-copper mineralization extends along a northwest trend for 880 m in length and is inclined to the northeast at 30-60°. The mineralized zone is thickest between lines 460-480 and appears to be truncated in the southeast by a fault. Good potential exists to extend the gold mineralization to the southwest between lines 450-510 and 550-580 and to the northwest of line 590. The gold mineralization is associated with the same retrograde metasomatic alteration as observed at Zhelanny but contains a higher copper content, a higher Au:Ag ratio of 1:1.45 versus 1:1 and a higher proportion of granite porphyry dykes. A total of 3 subparallel zones of gold mineralization are present in the Gora 5 deposit achieving a maximum combined width of 41.1 meters in drill hole 619. In-fill drilling is being carried out on a 25 x 50 meter grid. The current 2011 mineralized intersections reported in Table 2, exhibit excellent continuity with the historical intersections both along strike and down dip especially between lines 450-510. The mineralization is open below a vertical depth ranging up to 145 meters on the majority of drill sections. In total, 74 holes have been drilled on the Gora 5 deposit for 7464 meters of which 58 holes were completed in 2011 for 5264 meters. The current 2011 drilling results including significant gold intersections are reported in Table 2. Assay results for 12 holes are still outstanding.

Table 2: Assay Results Gora 5 Drilling Program (at 0.7 g/t Au cut-off)
Section DDH Depth Azimuth Dip From To Length Au Ag Cu
Line No. (m) (deg) (deg) (m) (m) (m) (ppm) (ppm) (ppm)
LC-450 651 50.0 240 60.0 26.2 29.2 3.0 0.76 35.08 1667
LC-450 653 106.2 237.5 59.3 79.2 83.0 3.8 1.34 3.08 1297
LC-450 655 80.2 242 60.0 10.0 14.8 4.8 1.42 5.40 296
LC-450 657 91.0 241 59.5 No Significant Results
LC-460 632 100.2 244 58.2 37.2 42.2 5.0 2.01 n/a n/a
LC-460 632 62.8 73.2 10.4 2.37 n/a n/a
LC-460 634 25.0 241 59.3 No Significant Results
LC-460 635 100.3 243 59.6 23.7 36.8 13.1 1.35 0.13 433
LC-460 635 50.3 64.5 14.2 1.07 2.02 2327
LC-460 635 100.0 121.0 21.0 1.06 1.60 1694
LC-460 636 175.5 244 59.7 51.2 84.5 33.3 1.77 1.41 1034
LC-460 636 99.5 104.5 5.0 1.87 4.14 3902
LC-460 636 117.7 127.5 9.8 0.82 2.72 3014
LC-470 658 151.0 243 61.1 109.0 149.0 40.0 3.97 1.42 1418
LC-470 661 126.0 241.5 59.5 83.2 91.0 7.8 2.95 0.29 n/a
LC-470 661 96.0 99.0 3.0 0.89 0.10 36
LC-470 661 112.9 123.2 10.3 1.42 2.49 2251
LC-470 662 100.2 243 59.5 55.7 71.9 16.2 4.79 n/a n/a
LC-470 662 87.9 91.8 3.9 0.78 n/a n/a
LC-470 666 60.0 239 60.1 0.0 6.0 6.0 1.13 0.73 204
LC-470 666 21.6 40.5 18.9 1.90 3.21 1185
LC-470 666 44.8 53.8 9.0 1.00 0.77 479
LC-480 638 190.0 243 59.6 141.8 145.5 3.7 1.12 1.52 586
LC-480 638 159.0 163.6 4.6 4.63 3.03 2127
LC-480 639 127.0 241 60.0 61.9 72.3 10.4 4.43 0.15 113
LC-480 639 75.5 90.8 15.3 1.82 0.48 376
LC-480 639 103.8 113.1 9.3 1.07 1.98 2228
LC-480 642 142.2 243 59.5 88.8 101.8 13.0 1.62 n/a n/a
LC-480 642 106.0 128.2 22.2 3.06 n/a n/a
LC-480 643 36.0 242 59.2 27.4 34.8 7.4 1.56 n/a n/a
LC-480 644 101.2 243 59.7 2.2 6.2 4.0 1.30 0.13 181
LC-480 644 18.4 24.2 5.8 0.75 4.84 1751
LC-480 646 85.1 243 59.7 No Significant Results
LC-490 649 55.1 243 59.7 No Significant Results
LC-490 670 100.1 240 60.2 69.1 84.7 15.6 2.14 n/a n/a
LC-490 672 120.2 238 60.9 74.0 80.6 6.6 1.50 n/a n/a
LC-490 672 94.8 110.5 15.7 1.49 n/a n/a
LC-490 676 170.1 241 60.8 116.2 122.0 5.8 4.33 0.39 718
LC-490 676 142.0 148.2 6.2 1.61 0.45 501
LC-500 648 115.0 243 59.7 97.5 102.5 5.0 5.59 1.68 1171
LC-500 649 55.1 243 59.7 25.0 33.8 8.8 1.18 0.27 141
LC-500 649 37.6 43.2 5.6 0.79 0.17 121
LC-510 679 20.2 241 59.8 4.2 14.8 10.6 1.31 0.30 530
LC-510 681 50.0 241 60.1 No Significant Results
LC-510 682 75.1 242 59.4 No Significant Results
LC-510 683 107.0 243 59.5 99.0 105.2 6.2 3.54 0.93 660
LC-520 650 76.0 242 60.0 9.0 16.0 7.0 1.31 1.51 2869
LC-530 685 45.6 241 59.9 No Significant Results
LC-530 689 106.1 242 58.7 No Significant Results
LC-530 690 133.0 242 60.9 79.4 89.0 9.6 1.16 12.16 4332
LC-540 626 151.0 244.5 60.0 98.8 104.0 5.2 2.36 1.22 583
LC-540 626 110.2 115.4 5.2 2.15 2.75 955
LC-540 628 110.2 240 60.0 14.0 20.8 6.8 1.47 1.41 400
LC-540 628 84.8 90.2 5.4 0.83 0.80 356
LC-540 630 90.2 240 60.0 No Significant Results
LC-550 693 80.1 241 59.9 No Significant Results
LC-550 694 100.1 241 60.1 21.2 25.1 3.9 3.39 n/a n/a
LC-550 694 80.9 85.8 4.9 0.79 n/a n/a
LC-550 699 142.1 242 60.9 No Significant Results
LC-560 623 43.2 243 60.0 No Significant Results
LC-560 624 115.0 241 60.0 No Significant Results
LC-560 625 64.2 244 60.0 No Significant Results
LC-570 700 30.0 240 60.1 No Significant Results
LC-570 701 52.0 244 59.9 No Significant Results
LC-580 619 102.5 240 60.0 37.7 41.5 3.8 0.75 0.25 11
LC-580 619 51.2 75.0 23.8 2.44 1.24 173
LC-580 619 85.0 98.5 13.5 1.54 2.42 711
LC-580 621 50.2 245 58.8 5.0 23.1 18.1 1.94 3.76 806
LC-580 622 23.9 244 60.0 No Significant Results
*True thickness of the mineralized zone is unknown and is reported as drill hole length

Gluharinny Prospect

The Gluharinny gold-silver mineralization is hosted by an altered quartz-feldspar and biotite-amphibolite gneiss and is located 3 kilometers east of the Pridolinny deposit and situated in the Uyrum license area. The gold mineralization was previously identified by wide spaced trenching. The mineralized zone strikes to the northwest and has been traced intermittently for over 1100 meters in length. The gold mineralization is associated with sheeted quartz veining and is open to vertical depth below 100 meters. In total, 33 holes have been drilled on the Gluharinny prospect for 5688 meters. Exploration drilling has been carried out on a wide spaced grid of 200 x 100 meters. The 2011 drilling results including significant gold intersections are reported in Table 3. Assays results for 22 holes are still outstanding.

Table 3: Significant Assay Results Gluharinny Drilling (at 0.7 g/t Au cut-off)
Section DDH Depth Azimuth Dip From To Length Au Ag Cu
Line No. (m) (deg) (deg) (m) (m) (m) (ppm) (ppm) (ppm)
Gl-110 671 200.0 249 59.8 38.2 43.8 5.6 2.50 4.84 403
Gl-150 695 200.0 248 60.8 35.0 42.3 7.3 1.10 n/a n/a
GL-150 713 200.0 247 28.4 No Significant Results
GL-190 665 200.0 248 58.7 No Significant Results
GL-190 675 200.0 249 59.2 No Significant Results
Gl-190 680 200.0 249 59.1 56.8 64.4 7.6 0.95 13.46 378
Gl-230 659 202.0 245 59.0 17.7 25.9 8.2 2.22 18.56 306
Gl-230 659 123.8 127.9 4.1 2.29 2.91 496
Gl-270 687 200.0 248 59.9 58.6 62.7 4.1 2.62 3.81 1225
Gl-310 723 200.0 247 61.4 31.7 35.7 4.0 1.04 n/a n/a
GL-310 728 200.0 244 62.4 No Significant Results
Gl-340 722 200.0 245 62.7 17.6 23.0 5.4 0.72 2.90 551
*True thickness of the mineralized zone is unknown and is reported as drill hole length

Future Exploration Program

The drilling program, currently being conducted on the Nasedkino and Uyrum license areas, is expected to be completed by early December. TOMS will undertake resource modeling once complete assay results is available. TOMS Engineering will carry out further metallurgical and communition tests on mineralized core from the three deposits to assist with flow sheet and grinding circuit design.

Qualified Persons

Mr. Stanley C. Bartlett, P.Geo, Managing Director for Micon International Co. Limited ("Micon") is the independent "qualified person" as defined in NI43-101 who prepared the mineral resource estimates disclosed in this new release. Mr. Bartlett is responsible for the scientific and technical information in this news release and has reviewed, approved and verified the data disclosed herein (including sampling, analytical and test data underlying the scientific and technical information.)

Drilling, logging, sampling and dispatch were under the direct supervision of TOMS, an independent geological consulting and engineering company certified under the Law of the Russian Federation # 128- FZ with the latest revision dated December 29, 2010.

Micon prepared NI43-101 compliant Technical Report on the Nasedkino Project entitled "Nasedkino Project, Chita Region, Russian Federation, Mineral Resources, NI43-101 Technical Report" dated November 22, 2010, a copy of which is available under White Tiger Gold's SEDAR profile at www.sedar.com

Quality Control

Drill core samples are processed in the Company´s on-site preparation facility which is managed by ALS Chita Laboratory LLC ("ALS") and is independent of White Tiger Gold Ltd. The drill CORE SAMPLE pulps are then shipped to ALS´s facilities in the capital city of Chita, Zaibaikal Region, Russian Federation where they are analyzed by Fire Assay with AAS finish. Copper, silver and 33 other elements are analyzed by ICP-AES. White Tiger Gold utilizes industry standard QA/QC protocols with respect to sampling procedures. Blanks, duplicates and international industry certified standards are inserted into the sample stream to monitor laboratory performance. Analytical results of control samples indicate there is no apparent analytical bias or systematic contamination of samples, and accuracy is within the stated specifications of the certified reference material. ALS Chita, an internationally accredited analytical company with 300 offices worldwide.

Additional information including press releases and public documents about White Tiger Gold Ltd. can be viewed at the Company's website, www.whitetigergold.com or at www.sedar.com.

About White Tiger Gold

White Tiger Gold is TSX-listed mining and exploration Company, focused on the development of mineral resources in the Russian Federation. White Tiger Gold currently operates the producing Savkino heap leach gold operation located in southeastern Siberia. Plans are underway to expand gold production at Savkino and continue with the aggressive drill program at the Nasedkino property situated in Chita Region in southeastern Siberia. The Company also holds 3 additional early-stage gold exploration licenses in prospective geological environments located in central and northeast Siberia.

Forward-Looking Information

This news release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding mineral resource estimates (including the potential conversion of historical estimates into estimates that are compliant with NI 43-101), expected results of drilling and other exploration activities, the Company's receipt of certain assay results, potential mineralization, the potential scope of the mineralized area and the Company's exploration and development plans) are forward-looking information.

This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: risks related to the exploration, development and production stages of the Company's properties; uncertainties relating to the availability and costs of financing needed to complete exploration, development and production activities; failure to establish estimated and/or anticipated mineral resources (no assurances can be given that the indicated and/or anticipated levels of gold will be produced from such resources); delays in the exploration and development of, and/or commercial production from, the properties in which the Company has an interest; the uncertainties involved in interpreting exploration results and other geological data; unexpected geological conditions; the speculative nature of mineral exploration and development, including the uncertainty of and the imprecision in mineral resource and reserve estimates; success of future development initiatives; operating performance of facilities; the possibility that the results of future exploration will not be consistent with the Company's expectations; changes in the price of gold or certain other commodities (such as fuel and electricity); fluctuations in the currency markets; changes in equity markets; changes in interest rates; failure to complete financings on favourable terms or at all; exploration, capital and other costs varying significantly from estimates; uncertainties relating to the availability and costs of financing needed in the future; changes in national and local government legislation, taxation, controls, policies and regulations; political developments in Russia; environmental and safety risks; delays in obtaining or failure to obtain necessary permits and approvals from government authorities; and the other risks involved in the mineral exploration business.

Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. Additional information about these assumptions and risks and uncertainties are contained in the Company's filings with securities regulators, including its management's discussion and analysis dated March 30, 2011 (available on the Company's SEDAR profile at www.sedar.com). All of the forward-looking information made in this news release is qualified by the foregoing cautionary statements and those made in the "Risk Factors" section of the Company's most recently filed Annual Information Form dated March 30, 2011 (available on the Company's SEDAR profile at www.sedar.com).

The mineral resource figures disclosed in this news release are estimates and no assurances can be given that the indicated levels of gold will be produced. Such estimates are expressions of judgment based on knowledge, mining experience, analysis of drilling results and industry practices. Valid estimates made at a given time may significantly change when new information becomes available. While the Company believes that the mineral resource estimates disclosed in this news release are well established, by their nature mineral resource estimates are imprecise and depend, to a certain extent, upon statistical inferences which may ultimately prove unreliable. If such estimates are inaccurate or reduced in the future, this could have a material adverse impact on the Company. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Inferred mineral resources are estimated on limited information not sufficient to verify geological and grade continuity or to allow technical and economic parameters to be applied. Inferred mineral resources are too speculative geologically to have economic considerations applied to them to enable them to be categorized as mineral reserves. There is no certainty that mineral resources can be upgraded to mineral reserves through continued exploration.

To view Figure 1: Hole Locations 2011 Drill Program - Nasedkino and Uyrum License Areas, please visit the following link: http://media3.marketwire.com/docs/wtg_928_1x.jpg

To view Figure 2: Drill Hole Location Map - Zhelanny Project, please visit the following link: http://media3.marketwire.com/docs/wtg_928_2.jpg

To view Figure 3: Drill Hole Location Map - Gora 5 Project, please visit the following link: http://media3.marketwire.com/docs/wtg_928_3.jpg

To view Figure 4: Drill Hole Location Map - Gluharinny Project, please visit the following link: http://media3.marketwire.com/docs/wtg_fg4_928.jpg

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