White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF,
FRA: 29W) (the "Company") is pleased to announce it has
commenced its $13 million fully funded 2019 exploration program on
its extensive 439,000 hectare land package, representing over 40%
of the prolific White Gold District in Yukon, Canada. A total of
17,000m of diamond drilling and 7,500m of Reverse Circulation
(“RC”) drilling is expected this season as part of the Company’s
systematic data driven exploration plan backed by partners Agnico
Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp
(TSX: K, NYSE: KGC). Exploration activity has commenced on
the JP Ross property focusing on expanding the footprint of the
recent Vertigo discovery and other newly identified high priority
targets along the 14km Vertigo Trend.
A map outlining the targets on the JP Ross
property can be found at
http://whitegoldcorp.ca/investors/exploration-highlights/.
Highlights Include:
- Detailed soil sampling performed in
2018 has proven effective to highlight known mineralization on the
Vertigo discovery and also identified several new targets on the
Vertigo Trend and across the JP Ross property associated with
regional scale structures, demonstrating the potential for multiple
mineralized systems. These areas and will be followed up with the
GT Probe and other work to further assess the size and intensity of
the anomalies and define 2019 drill targets.
- GT Probe sampling has commenced on
the road accessible Vertigo focused on expanding the footprint of
the discovery. The GT Probe will also be testing the other targets
recently defined on the JP Ross property which demonstrate strong
similarities to Vertigo.
- RC drilling scheduled to commence
in early May on the JP Ross property focused on expansion of the
Vertigo along strike. An additional 4 to 5 target areas are
expected to have RC drilling as follow up to the GT Probe
program.
- Diamond drilling is anticipated to
commence in June on the Vertigo discovery. 10,000m of diamond
drilling is planned on the Vertigo to evaluate geometry as well as
the lateral and vertical continuity of mineralized structures
discovered in 2018.
“2018 was a very successful year for White Gold,
producing multiple brand-new discoveries including the Vertigo,
which returned some of the most significant drill intercepts ever
encountered in Yukon.” stated David D’Onofrio, Chief Executive
Officer. “We are very excited to have kicked off our 2019 program
deploying the GT Probe which has proven to be highly effective in
defining drill targets and was instrumental in all four of our
discoveries in 2018. We are eager to follow up on the
Vertigo, and test other nearby targets defined late last season
through detailed soil sampling, which demonstrate similar
geochemical and structural signatures to the Vertigo. We are
equally as excited to continue expanding both our flagship Golden
Saddle deposit and the recently acquired VG deposit, and to follow
up on our other 2018 discoveries, and to test our new high priority
regional targets for the first time in 2019. Our recent successes
have provided us further confidence in our highly specialized
exploration methodologies, and we believe this could be our most
exciting program to date.”
Vertigo ExplorationThe Company
has deployed the GT Probe on the new high-grade, road accessible,
Vertigo discovery on its JP Ross property - one of four new gold
discoveries made in 2018. The Vertigo consists of a series of W-NW
trending, steeply south dipping structures identified over a 650m
wide corridor that was traced over 300m through RAB/RC drilling in
2018. The overall system has been traced a further 1,700m to the
west through soil sampling, prospecting and geophysical surveys.
The GT Probe work will initially focus on the western extension of
the Vertigo and is designed to evaluate the footprint of the system
and define high priority targets for follow up RC drilling, which
is expected to initiate in early May. The GT Probe is a proprietary
track-mounted rig designed to take samples from the soil-bedrock
interface, resulting in sampling that is both cost effective and
with minimal environmental impact.
The combination of GT Probe sampling and
detailed infill soil sampling led the Company to the discovery of
the Vertigo in 2018. Furthermore, it highlighted the potential for
previously unrecognized narrow (<10m) zones of high-grade
material (>10 g/t Au) that would have been overlooked using
traditional exploration methodologies.
The Vertigo is one of the Company’s most
significant discoveries from the 2018 exploration season, with
drilling highlights including, Hole JPRVERRAB18-014/JPRVERRC18-013
intersecting 22.47 g/t Au over 30.46m from surface ending in
mineralization; Hole JPRVERRAB18-001 intersecting 56.25 g/t Au over
3.05m within a broader intercept of 17.34 g/t Au over 10.67m from
3.05m depth; Hole JPRVERRAB18-006 intersecting 103.90 g/t Au over
1.53m within a broader intercept of 31.35 g/t Au over 6.10m from
surface. Multiple high-grade grab samples were also encountered
including 304.3 g/t, 156.2 g/t and 139.9 g/t among others.
New Targets on the JP Ross
PropertyThe GT Probe will be also utilized across the JP
Ross property to follow up on several high priority targets defined
through detailed soil sampling in 2018. Results from the GT Probe
and other specialized exploration activity completed on the targets
will guide follow up RAB/RC drilling. Details regarding the initial
high priority targets to be tested is outlined below:
Topaz
- Located immediately south of the Vertigo and road
accessible.
- Consists of a series of NE and NW trending gold in soil
anomalies over a 500m x 1,500m area with values ranging from trace
to 284ppb Au.
- Similar geochemical signature to the Vertigo
(Au-Ag-Bi-Pb+/-As).
- Rock samples from area returned grades up to 2.79 g/t Au.
Sabotage Trend
- Located 7.5km northwest of the Vertigo.
- Consists of multiple zones of anomalous Au in soils over a
1.5km x 5km NE trending area with values from trace to 1,908.3 ppb
Au.
- Detailed infill soil sampling focused on a 450m x 500m area
within the Sabotage area in 2018, and returned discreet E-NE and NW
trending gold in soil anomalies with values from trace to 295.3 ppb
Au.
- At least 12 other target areas along the Sabotage trend will be
detail soil sampled in 2019 with follow up GT Probe and other
exploration work as warranted.
Frenzy Trend
- Located 8.5km north of the Vertigo and road accessible.
- Consists of a series of gold in soil anomalies over a 1.5km x
3.5km N-NE trend with values ranging from trace to 1,141.6 ppb
Au.
- Detailed infill soil sampling focused on two areas along the
Frenzy Trend in 2018. The first covered a 450m x 500m area near the
southern end of the trend and returned both NE and NW trending gold
in soil anomalies with values from trace to 623.4 ppb Au. The
second was at the northern end of the trend covering a 400m x 450m
area and returned a N-S trend gold in soil anomaly over the length
of the grid with values from trace to 492.8 ppb Au.
- Detailed soil sampling to be completed on at least 6 other
target areas along the Frenzy Trend in 2019, with follow up GT
Probe and other work as warranted.
Additional detailed soil sampling will also be
conducted on multiple other target areas on the JP Ross property
including Suspicion (4.5km SE of Vertigo), Stage Fright (9.5km NW
of Vertigo; adjacent to Sabotage), Psycho (6km NE of Vertigo), and
Xman (12km N-NE of Vertigo) with follow up GT Probe sampling,
geophysical surveys, prospecting, and trenching as warranted.
About White Gold Corp.The
Company owns a portfolio of 22,040 quartz claims across 35
properties covering over 439,000 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 Au and 282,490 ounces Inferred at 1.70 g/t Au 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(1) of 3.4M oz and Western Copper and Gold Corporation’s
Casino project which has P&P gold reserves(1) of 8.9M oz Au and
4.5B lb Cu. For more information visit www.whitegoldcorp.ca.
- 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.
Qualified PersonJodie Gibson,
P.Geo., Vice President of Exploration for the Company is a
“qualified person” as defined under National Instrument 43-101
Standards of Disclosure for Mineral Projects, 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 and are based on expectations, estimates and projections
as at the date of this news release. 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 and phrases or stating that certain actions, events or
results "may" or "could", "would", "might" or "will" be taken to
occur or be achieved) are not statements of historical fact and may
be forward-looking statements. In this news release,
forward-looking statements relate, among other things, the
Company’s objectives, goals and exploration activities conducted
and proposed to be conducted at the Company’s properties; future
growth potential of the Company, including whether any proposed
exploration programs at any of the Company’s properties will be
successful; exploration results; and future exploration plans and
costs and financing availability.
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:; expected
benefits to the Company relating to exploration conducted and
proposed to be conducted at the Company’s properties; failure to
identify any additional mineral resources or significant
mineralization; the preliminary nature of metallurgical test
results; uncertainties relating to the availability and costs of
financing needed in the future, including to fund any exploration
programs on the Company’s properties; business integration risks;
fluctuations in general macroeconomic conditions; fluctuations in
securities markets; fluctuations in spot and forward prices of
gold, silver, base metals or certain other commodities;
fluctuations in currency markets (such as the Canadian dollar to
United States dollar exchange rate); 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, development and mining
(including environmental hazards, industrial accidents, unusual or
unexpected formations pressures, cave-ins and flooding); inability
to obtain adequate insurance to cover risks and hazards; the
presence of laws and regulations that may impose restrictions on
mining and mineral exploration; employee relations; relationships
with and claims by local communities and indigenous populations;
availability of increasing costs associated with mining inputs and
labour; the speculative nature of mineral exploration and
development (including the risks of obtaining necessary licenses,
permits and approvals from government authorities); 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; soil sampling results being
preliminary in nature and are not conclusive evidence of the
likelihood of a mineral deposit; title to properties; and those
factors described in the most recently filed management’s
discussion and analysis of the Company. Although the
forward-looking statements contained in this news release are based
upon what management of the Company believes, or believed at the
time, to be reasonable assumptions, the Company cannot assure
shareholders that actual results will be consistent with such
forward-looking statements, as there may be other factors that
cause results not to be as anticipated, estimated or intended.
Accordingly, readers should not place undue reliance on
forward-looking statements and information. 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. The Company does not undertake 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. (647) 930-1880
ir@whitegoldcorp.ca
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