White Tiger Gold said assay results from drilling at its Nasedkino and Uryum license areas located in south Siberia, have found new gold deposits at one of the prospects.
The Canadian gold miner, in which Russian investor Maxim Finskiy owns large stakes, said it found a new zone of gold mineralization at the Gluharinny prospect, while higher-grade gold was uncovered at the Zhelanny deposit.
White Tiger said core recovery for the entire drill program averaged in excess of 95 percent and the program is expected to be completed by early December.
On Tuesday, the Toronto-based company granted a credit facility of up to $10 million to Century Mining , to help fund its expansion plans both before and after their planned merger.
White Tiger's shares closed at 83 Canadian cents on Tuesday on the Toronto Stock Exchange.