White Gold Corp. (TSX.V:
WGO, OTC – Nasdaq Intl:
WHGOF, FRA: 29W) (the "Company)
is pleased to announce Rotary-Air-Blast (“RAB”) drill results from
its Betty property located in Yukon, Canada, with numerous drill
holes across several target areas encountering near surface gold
mineralization. The gold mineralization was encountered along the
eastern extension of the Coffee Creek fault which hosts the
adjacent Coffee deposit owned by Goldcorp Inc. (TSX: G, NYSE: GG)
currently being developed as an open pit and heap leach gold mine
with commercial production anticipated to begin in 2021. These
results represent a new discovery on a previously undrilled target,
discovered through the Company’s systematic and data driven
regional exploration program backed by partners Agnico Eagle Mines
Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE:
KGC).
Maps to accompany this news release can be found
at http://whitegoldcorp.ca/investors/exploration-highlights/.
Highlights Include:
- At the Betty Ford target,
BETFRDRAB18-002 returned 1.08 g/t Au over 50.29m from 4.57m depth,
including 2.24 g/t Au over 9.41m from 19.81m depth with the top
25.91m of the hole showing oxidized mineralization and additional
shallow mineralization encountered in other holes along
trend.
- At Betty White target, gold
mineralization was intersected in every hole with individual
results ranging from trace to 3.61 g/t Au.
- Gold mineralization
encountered across multiple target areas highlights the large-scale
potential of the mineralized system, with additional targets
remaining undrilled.
- The Betty property is
contiguous to the Coffee project owned by Goldcorp and hosted in
the same regional structure, with very limited drill testing
performed on the Betty property to date.
- Additional results from the
JP Ross and White Gold properties are in progress and will be
announced in due course.
“The discovery on the Betty Ford target is a
very significant finding, intersecting over 50 meters of near
surface gold mineralization at grades comparable to the adjacent
Coffee project, along trend and with structural similarities. We
are also very encouraged with the discovery of gold mineralization
encountered on other targets across the Betty property which
indicates the presence of a broader gold system,” stated Jodie
Gibson, VP Exploration. “The Betty property remains
underexplored and we believe that this preliminary shallow drill
program has just scratched the surface of the mineral potential
along the very prospective Coffee Creek fault. Furthermore, this
marks the fourth new discovery by our team this season, further
increasing confidence in our exploration methodology and providing
greater understanding of the regional geology and the prospects for
additional discoveries. We look forward to applying our effective
and efficient exploration techniques across our land package which
now totals over a million acres in the White Gold District.”
Betty PropertyThe Betty
Property is located 58km SW of the Golden Saddle deposit and 62km
SSW of the Vertigo discovery along the continuation of the Coffee
Creek fault. 145km SW of Dawson City, the property is contiguous to
both Goldcorp’s Coffee and Western Copper and Gold’s Casino
properties to the east. The property consists of a 12km trend of
anomalous gold in soils (trace to 7,288 ppb Au) associated with
both intrusion-related and structurally controlled style gold
targets. Historic RC drilling from the property include
results(1) of 7.1 g/t Au and 209 g/t Ag over 13.7m from hole
BETR12-022, 29.8 g/t Au over 3.1m from hole BETR12-012, and 1.5 g/t
Au over 21.3m from hole BETR12-007.
2018 ExplorationThe 2018 drill
program on the Betty property consisted of 1,827m drilled over 28
holes on 6 target areas. Additional exploration work included the
collection of 916 soil samples, 103km2 of LiDAR surveys and
geologic mapping and prospecting. Results ranged from trace to 4.59
g/t Au, with the most significant results encountered on the Ford
and White target areas.
Significant drill results from the Betty
property included in this release are detailed in the table
below.
Hole ID |
Target |
|
From(m) |
|
To(m) |
|
Int(m) |
|
Au(g/t) |
|
BETFRDRAB18-001 |
Ford |
|
19.81 |
|
44.20 |
|
24.39 |
|
0.94 |
|
Including |
|
|
25.91 |
|
30.48 |
|
4.57 |
|
2.25 |
|
Including |
|
|
27.43 |
|
28.96 |
|
1.52 |
|
4.59 |
|
BETFRDRAB18-002 |
Ford |
|
4.57 |
|
54.86 |
|
50.29 |
|
1.08 |
|
Including |
|
|
19.81 |
|
28.96 |
|
9.41 |
|
2.24 |
|
BETFRDRAB18-003 |
Ford |
|
0.00 |
|
13.72 |
|
13.72 |
|
0.75 |
|
BETWHTRAB18-016 |
White |
|
15.24 |
|
24.38 |
|
9.14 |
|
0.59 |
|
And |
|
|
79.25 |
|
96.01 |
|
16.76 |
|
0.43 |
|
BETWHTRAB18-017 |
White |
|
54.86 |
|
56.39 |
|
1.52 |
|
3.03 |
|
BETWHTRAB18-018 |
White |
|
89.92 |
|
99.06 |
|
9.14 |
|
0.47 |
|
BETWHTRAB18-019* |
White |
|
57.91 |
|
80.77 |
|
22.86 |
|
0.47 |
|
BETWHTRAB18-020 |
White |
|
45.72 |
|
48.77 |
|
3.05 |
|
1.08 |
|
BETWHTRAB18-021 |
White |
|
13.72 |
|
18.29 |
|
4.57 |
|
1.80 |
|
Including |
|
|
15.24 |
|
16.76 |
|
1.52 |
|
3.61 |
|
BETBLKRAB18-003 |
Black |
|
6.10 |
|
10.67 |
|
4.57 |
|
0.82 |
|
*Hole ends in mineralization |
Interpretation of the results is ongoing and there is not
currently enough information to estimate true thickness of the
mineralized zones. Holes not listed above contained no significant
values.
Ford TargetThe Ford target is located in the
centre of the Betty property, near the crest of an E-W oriented
ridge and consists of a 950m x 200m zone of strongly anomalous gold
in soils ranging from trace to 1,962 ppb Au. Drilling on the Ford
target consisted of 504m of shallow (<100m) RAB drilling over 6
holes covering a 220m x 160m area within the central portion of the
soil anomaly and was designed to follow up on a series of
interpreted E-W trending structures in the area. The most
significant results were returned from the southern end of the
anomaly in drill holes BETFRDRAB18-001 to 003.
BETFRDRAB18-001 – Az: 180, Dip: -60o,
Depth: 100.58mBETFRDRAB18-001 was the eastern most hole
drilled in the area and returned 24.39m of 0.94 g/t Au from 19.81m
depth; including 10.67m of 1.26 g/t from 19.81m depth. The hole was
drilled based on an interpreted E-W oriented structure in the area
based on soil geochemistry and historic geophysical surveys.
BETFRDRAB18-002 – Az: 180, Dip: -60o,
Depth: 100.58mBETFRDRAB18-002 was drilled 103m to the west
of BETFRDRAB18-001 and was targeting the same interpreted
structure. The hole returned 50.29m of 1.08 g/t Au from 4.57m
depth; including 19.81m of 1.63 g/t Au from 10.67m depth.
BETFRDRAB18-003 – Az: 000, Dip: -60o,
Depth: 100.58mBETFRDRAB18-003 was drilled to the north
from the same drill site as BETFRDRAB18-002. The hole appears to
have intersected the edge of the mineralized zone intersected in
holes 001 & 002 above, returning 13.72m of 0.75 g/t Au from
surface.
Mineralization in all three holes consists of
strongly quartz-sericite altered biotite gneiss with quartz veining
and is strongly oxidized to approximately 26m depth; transitioning
to disseminated pyrite at depth. The mineralization is
currently interpreted to occur along an E-SE trending, steeply
dipping, structure that is open along strike in both directions and
at depth. Individual assays from the Ford ranged from trace to 4.59
g/t Au, and is “gold only” with no significant geochemical
associations.
White Target
The White target is located approximately 730m
downhill to the south of the Ford target and consists of a 150m x
2,000m, NE trending zone of strongly anomalous gold in soils
ranging from trace to 1,266 ppb Au. Drilling on the White target
consisted of 605m of shallow (<100m) RAB drilling over 7 holes
covering 670m of strike length within the central portion of the
soil anomaly. Anomalous gold mineralization was intersected in
every hole with individual results ranging from trace to 3.61 g/t
Au.
The mineralization is hosted within
quartz-biotite schist and is associated with a NE-SW trending,
steeply south dipping, fault zone and adjacent fractures
interpreted as a splay of the Coffee Creek Fault; located 800m to
the north. Individual structures are associated with
silicification, brecciation, and minor quartz veining within a
broader halo of pervasive sericite alteration. The gold
mineralization correlates with strongly elevated arsenic and
antimony; has been traced from surface to 90m depth; and is open
along strike and at depth. Strong oxidation is noted up to 50m
depth, with partial oxidation extending to over 90m
depth.
About White Gold Corp.The
Company owns a portfolio of 21,218 quartz claims across 34
properties covering over 423,000 hectares representing over 40% of
the Yukon’s White Gold District. The Company’s flagship White Gold
property has a mineral resource of 960,970 ounces Indicated at 2.43
g/t gold and 282,490 ounces Inferred at 1.70 g/t gold as set forth
in the technical report entitled “Independent Technical Report for
the White Gold Project, Dawson Range, Yukon, Canada”, dated March
5, 2018, filed under the Company’s profile on SEDAR. Mineralization
on the Golden Saddle and Arc is also known to extend beyond the
limits of the current resource estimate. Regional exploration work
has also produced several other prospective targets on the
Company’s claim packages which border sizable gold discoveries
including the Coffee project owned by Goldcorp Inc. with a M&I
gold resource (2) of 3.4M oz and Western Copper and Gold
Corporation’s Casino project which has P&P gold reserves(2) of
8.9M oz Au and 4.5B lb Cu. For more information visit
www.whitegoldcorp.ca.
(1)
See Ethos Gold Corp News Release dated June 26, 2012,
available on SEDAR (2)
Noted mineralization is as disclosed by the owner of each
property respectively and is not necessarily indicative of the
mineralization hosted on the Company’s property.
QA/QCThe analytical work for
the 2018 program has been performed by Bureau Veritas Commodities
Canada Ltd., an internationally recognized analytical services
provider, at its Vancouver, British Columbia laboratory.
Sample preparation was carried out at its Whitehorse, Yukon
facility. All GT Probe, RAB, RC, and diamond core samples were
prepared using procedure PRP70-250 (crush, split and pulverize 250
g to 200 mesh) and analyzed by method FA430 (30g fire assay with
AAS finish) and AQ200 (0.5g, aqua regia digestion and ICP-MS
analysis). Samples containing >10g/t Au were reanalyzed using
method FA530 (30g Fire Assay with gravimetric finish).
Metallic-screen analysis may also be utilized if coarse gold
mineralization is encounter (FS600).
The work was completed using industry standard
procedures, including a quality assurance/quality control (QA/QC)
program consisting of the regular insertion of certified standards
and blanks into the sample stream. The qualified person detected no
significant QA/QC issues during review of the data.
Qualified PersonJodie Gibson,
P.Geo. and Vice President of Exploration for the Company is a
“qualified person” as defined under National Instrument 43-101 (“NI
43-101”) and has reviewed and approved the content of this news
release.
Cautionary Note Regarding Forward
Looking InformationThis news release contains
"forward-looking information" and "forward-looking statements"
(collectively, "forward-looking statements") within the meaning of
the applicable Canadian securities legislation. All statements,
other than statements of historical fact, are forward-looking
statements. Any statement that involves discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans",
“proposed”, "budget", "scheduled", "forecasts", "estimates",
"believes" or "intends" or variations of such words) are not
statements of historical fact and may be forward-looking
statements. In this news release, forward-looking statements
relate, among other things, to: the anticipated benefits to the
Company and its shareholders respecting the Company’s objectives,
goals and exploration activities conducted and proposed to be
conducted at the White Gold, Betty and other properties; future
growth potential of the Company, including whether any further
mineral resources will be established in accordance with NI 43-101
at any of the Company’s properties; exploration results; and future
exploration plans.
These forward-looking statements are based on
reasonable assumptions and estimates of management of the Company
at the time such statements were made. Actual future results may
differ materially as forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to
materially differ from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors, among other things, include: the expected
benefits to the Company relating to the exploration conducted and
proposed to be conducted at the Betty, White Gold and other
properties; failure to expand or identify any additional mineral
resources; the preliminary nature of metallurgical test results;
uncertainties relating to future financing; fluctuations in
securities and currency markets and commodity prices; change in
national and local government, legislation, taxation, controls,
regulations and political or economic developments; risks and
hazards associated with the business of mineral exploration
(including environmental hazards, industrial accidents, unusual or
unexpected formations pressures, cave-ins and flooding); employee
and indigenous relations; availability of necessary licenses,
permits and approvals; the unlikelihood that properties that are
explored are ultimately developed into producing mines; geological
factors; actual results of current and future exploration; changes
in project parameters as plans continue to be evaluated; title to
properties; and those factors described under the heading "Risks
and Uncertainties" in the Company’s most recently filed
management’s discussion and analysis. Although the forward-looking
statements contained in this news release are based upon what
management of the Company believes to be reasonable assumptions,
there can be no assurance that forward-looking information, or the
material factors or assumptions used to develop such
forward-looking information, will prove to be accurate.
Accordingly, readers should not place undue reliance on
forward-looking statements. The Company does not undertake any
obligations to release publicly any revisions for updating any
voluntary forward-looking statements, except as required by
applicable securities law.
Neither the TSX Venture Exchange (the
“Exchange”) nor its Regulation Services Provider (as that term is
defined in the policies of the Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
Contact Information:David
D’Onofrio Chief Executive Officer White Gold Corp. (416) 643-3880
ir@whitegoldcorp.ca
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