White Gold Corp. (TSX.V:
WGO, OTC – Nasdaq Intl:
WHGOF, FRA: 29W) (the "Company")
is pleased to announce that a new shallow zone of gold
mineralization has been discovered on trend with the Golden Saddle
deposit at the Golden Saddle West (“GS West”) target on its White
Gold property, Yukon. The GS West target is located approximately
750m west of the Golden Saddle deposit, along a structural trend
containing several other targets, including the high-grade Ryan’s
Showing discovery announced September 6, 2018.
Step out and infill drilling at Golden Saddle
has also continued to return significant results, expanding the
footprint and definition of the deposit. Maps to accompany this
news release can be found at
http://whitegoldcorp.ca/investors/exploration-highlights/.
The Company is also currently drilling at its JP
Ross property to follow up on the high-grade Vertigo discovery as
part of its fully funded regional exploration program backed by
partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and
Kinross Gold Corp (TSX: K, NYSE: KGC). Additional results will be
released in due course, along with further results from the
additional testing performed along trend with the Golden Saddle
Deposit on its White Gold property including the Ryan’s Showing
discovery.
Highlights Include:
- WHTGS18D0194 intersected
6.90 g/t over 23.64m from 427.11m depth, within broader
mineralization of 3.76 g/t Au over 66.2m from 385.2m depth and 2.32
g/t Au over 115.61m from 346.24m depth extending the GS Main Zone
and high-grade core of the Golden Saddle deposit by 60m (14%)
down-dip in the area.
- GS West: A new shallow
mineralized zone open at depth and along strike was discovered 750m
to the west of the Golden Saddle deposit along the structural
trend, intersecting Golden Saddle style mineralization in all three
holes, including 1.92 g/t Au over 24m from
117m depth WHTGS18D0184 within broader
mineralization of 2.97 g/t Au over 10m from 118m depth.
- WHTGS18D0193 intersected
3.95 g/t Au over 68m from 210m depth, including 5.42 g/t Au over
47.3m from 225.7m depth, and 9.55 g/t Au over 11.9m from 256m depth
infilling a 70m gap in the GS Main Zone and extending
mineralization towards surface. This intercept represents one of
the strongest and most consistent intercepts of
high-grade (>5 g/t Au) mineralization to date for the Golden
Saddle.
- WHTGS18D0191 extended the
projection of the GS Main Zone approximately 200m (69%) down dip in
the area, intersecting 4.87 g/t Au over 6.3m from 362m depth within
broader mineralization of 1.95 g/t Au over 22.3m from 347.6m
depth.
- The Company continues to
test additional targets along trend with the Golden Saddle deposit
as part of the program designed to expand the existing resource on
the White Gold property, with only limited historical exploration
having been performed in these areas.
“We are very pleased with these results from our
2018 program on the White Gold property. Making up approximately
half of our 2018 budget, the goal of this program was to grow the
Golden Saddle deposit through expansion along strike and down dip
as well as through the discovery of new mineralization within close
proximity to the deposit,” stated Jodie Gibson, VP Exploration of
the Company. “Our program has done just that – making
meaningful step outs to the deposit and also making two significant
discoveries this year along trend with Golden Saddle. With only
limited exploration performed in the area, we are very optimistic
about the potential for additional mineralization in close
proximity to the Golden Saddle deposit.”
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/21134456-434e-4305-99ea-f7527376526b
GS West Target, White Gold
PropertyThe GS West is located approximately 750m west
from the western edge of the Golden Saddle. Drilling on the target
area consisted of 3 wide spaced holes testing over 350m of strike
length. The purpose of the drilling was to evaluate the area for
Golden Saddle style mineralization based on a revised geologic
interpretation and projection of the Golden Saddle structural
system. All three holes hit Golden Saddle style alteration and
mineralization with the most significant results from WHTGS18D0184.
Individual assays ranged from trace to 9.7 g/t Au.
WHTGS18D0184 returned 1.92 g/t Au over 24m from
117m depth, including 2.97 g/t Au over 10m from 118m depth and 8.12
g/t Au over 1.95m from 121.05m depth. The mineralization is
associated with a strongly sericite altered, coarse grained, augen
orthogneiss with pyrite and molybdenite filled fractures, quartz
veining, and localised brecciation. The zone occurs along the
projection of the GS Main structure to the west and highlights the
significant potential for additional zones of near surface
mineralization in close proximity to the Golden Saddle deposit.
The newly discovered zone was targeted with a
revised geologic modeling based on DIGHEM, IP-Resistivity and
historic drilling. The holes were targeting the interpreted
intercept of the GS Main structure with a favorable felsic gneiss
unit that hosts the majority of the resource in the adjacent Golden
Saddle deposit. The discovery highlights the potential for
additional, new surface, zones of mineralization adjacent to the
Golden Saddle. Detailed geological modelling is in progress and
will form the basis of follow up drilling in 2019.
Significant drill results from the Golden Saddle
West target are included in the table below:
Hole ID |
Target Area |
From(m) |
|
To(m) |
|
Int(m) |
|
Au(g/t) |
|
WHTGS18D0184 |
GS West |
117.00 |
|
141.00 |
|
24.00 |
|
1.92 |
|
Incl. |
|
118.00 |
|
128.00 |
|
10.00 |
|
2.97 |
|
Incl. |
|
121.05 |
|
123.00 |
|
1.95 |
|
8.12 |
|
WHTGS18D0185 |
GS West |
146.00 |
|
158.65 |
|
12.65 |
|
0.41 |
|
Incl. |
|
157.90 |
|
158.65 |
|
0.75 |
|
3.99 |
|
And |
|
260.50 |
|
266.00 |
|
5.50 |
|
0.65 |
|
WHTGS18D0186 |
GS West |
290.97 |
|
292.02 |
|
1.05 |
|
1.59 |
|
There is not currently enough information to
estimate true thickness of the mineralization on the GS West at
this time.
Golden Saddle Deposit, White Gold
PropertyA total of 8,745m of diamond drilling over 18
holes was conducted on the Golden Saddle. The drilling included
infill drilling for advanced metallurgical testing; aggressive
step-out drilling down dip to assess continuity of the mineralized
structures to depth and a series of holes for geologic modelling
and to assess the continuity of mineralized zones within the
hanging wall of the deposit. Results for the infill/metallurgical
holes were previously released and include 6.89 g/t Au over 32.0m
from 171m depth, including 11.08 g/t Au over 18.4m from 188m depth.
Results for 10 additional holes are presented in the table below.
Highlights include holes WHTGS18D0191, WHTGS18D0193 and
WHTGS18D0194. Individual assays for the released results range from
trace to 37.5 g/t Au and reported intercepts are estimated to range
from 65 – >95% true thickness.
Significant drill results from the Golden Saddle included in
this release are detailed in the table below:
Hole ID |
Target Area |
From(m) |
|
To(m) |
|
Int(m) |
|
Au(g/t) |
|
WHTGS18D0178 |
Golden Saddle |
448.70 |
|
452.80 |
|
4.10 |
|
1.62 |
|
And |
|
473.00 |
|
478.10 |
|
5.10 |
|
2.50 |
|
Incl. |
|
477.00 |
|
478.10 |
|
1.10 |
|
5.51 |
|
WHTGS18D0183 |
Golden Saddle |
426.00 |
|
480.55 |
|
54.55 |
|
1.20 |
|
Incl. |
|
468.00 |
|
480.55 |
|
12.55 |
|
2.67 |
|
Incl. |
|
475.08 |
|
480.55 |
|
5.47 |
|
4.71 |
|
Incl. |
|
477.90 |
|
480.55 |
|
2.65 |
|
7.02 |
|
And |
|
587.85 |
|
594.00 |
|
6.15 |
|
1.75 |
|
WHTGS18D0187 |
Golden Saddle |
458.55 |
|
488.00 |
|
29.45 |
|
0.90 |
|
Incl. |
|
479.05 |
|
488.00 |
|
8.95 |
|
1.97 |
|
And |
|
505.17 |
|
507.00 |
|
1.83 |
|
3.52 |
|
WHTGS18D0188 |
Golden Saddle |
35.23 |
|
40.72 |
|
5.49 |
|
0.90 |
|
And |
|
248.00 |
|
254.00 |
|
6.00 |
|
1.12 |
|
And |
|
557.00 |
|
565.00 |
|
8.00 |
|
1.30 |
|
Incl. |
|
559.44 |
|
560.42 |
|
0.98 |
|
3.52 |
|
WHTGS18D0189 |
Golden Saddle |
227.00 |
|
244.60 |
|
14.60 |
|
0.32 |
|
Incl. |
|
229.00 |
|
230.00 |
|
1.00 |
|
1.04 |
|
WHTGS18D0190 |
Golden Saddle |
309.35 |
|
317.00 |
|
7.65 |
|
3.07 |
|
Incl. |
|
312.25 |
|
316.00 |
|
3.75 |
|
5.10 |
|
And |
|
551.70 |
|
552.63 |
|
0.93 |
|
9.85 |
|
WHTGS18D0191 |
Golden Saddle |
347.63 |
|
369.90 |
|
22.27 |
|
1.95 |
|
Incl. |
|
362.00 |
|
368.33 |
|
6.33 |
|
4.87 |
|
WHTGS18D0192 |
Golden Saddle |
389.35 |
|
393.7 |
|
4.35 |
|
3.56 |
|
And |
|
434.00 |
|
442.00 |
|
8.00 |
|
1.86 |
|
Incl. |
|
439.68 |
|
440.84 |
|
1.16 |
|
6.44 |
|
WHTGS18D0193 |
Golden Saddle |
210.00 |
|
278.00 |
|
68.00 |
|
3.95 |
|
Incl. |
|
225.70 |
|
273.00 |
|
47.30 |
|
5.42 |
|
Incl. |
|
256.00 |
|
267.90 |
|
11.90 |
|
9.55 |
|
WHTGS18D0194 |
Golden Saddle |
346.24 |
|
451.26 |
|
115.61 |
|
2.32 |
|
Incl. |
|
385.23 |
|
450.75 |
|
66.23 |
|
3.76 |
|
Incl. |
|
427.11 |
|
450.75 |
|
23.64 |
|
6.90 |
|
Incl. |
|
440.20 |
|
450.75 |
|
10.55 |
|
14.21 |
|
|
|
|
|
|
|
|
|
|
WHTGS18D0194WHTGS18D0194
returned 2.32 g/t Au over 115.61m from 346.24m depth, including
3.76 g/t Au over 66.23m from 385.23m depth, including 6.90 g/t over
23.64m from 427.11m depth, including 14.21 g/t Au over 10.55m of
from 440.2m depth. The hole was drilled from the same site as holes
189/190/191, but at an azimuth 80o and -68o dip, and was targeting
the down-dip intersection of the GS Main and a cross-cutting thrust
fault that hosts lenses of ultramafic rocks (serpentinite) within
the core of the Golden Saddle. This intersection appears to be a
significant control on high-grade (>3 g/t Au) mineralization
within the deposit, and the intercept extended the GS Main, and
high-grade core of the deposit, an additional 60m down-dip in the
area.
WHTGS18D0193WHTGS18D0193 is
located 360m east of WHTGS18D0194 and was drilled at an azimuth of
225o and -50o dip. The hole was designed to drill across host
lithologies in the Golden Saddle, which are oblique to
mineralization, for geologic modelling purposes. Additionally, the
hole would test for mineralization associated with lithologic
contacts in the hanging wall of the deposit and infill the GS Main
at depth. The hole returned 3.95 g/t Au over 68m from 210m depth,
including 5.42 g/t Au over 47.3m from 225.7m depth and 9.55 g/t Au
over 11.9m from 256m depth. The intercept corresponds to the GS
Main infilling a 70m gap between holes WD-070 and WHTGS17D0170.
WHTGS18D0191WHTGS18D0191 is
located on the NW portion of the Golden Saddle and was drilled to
assess the down dip potential of the GS Main Zone. The hole was
drilled at a 160o azimuth and -85o dip and returned 1.95 g/t Au
over 22.27m from 347.63m depth, including 4.87 g/t Au over 6.33m
from 362m depth. The intercept extends the projection of the GS
Main approximately 200m down dip from historic hole WD-053.
Two additional holes were drilled on the same
section as WHTGS18D0191, WHTGS18D0189 and 190, at dips of -65o and
-75o; respectively. WHTGS18D0189 is a 75m step-out to WD-053 and
returned 0.32 g/t Au over 14.6m from 227m depth. While WHTGS18D0189
and WHTGS18D0190 are lower in grade due to the intersection of less
favorable schistose lithology, they confirmed the extension of the
GS Main structure. WHTGS18D0190 is a 55m step-out to hole 189 and
returned 3.07 g/t Au over 7.65m from 309.35m depth, including 5.1
g/t Au over 3.75m from 312.25m depth. WHTGS18D0191, detailed above,
was a further 70m step-out to hole 190. Together the GS Main has
been traced from surface to 490m down-dip, and is open at depth, in
this area of the deposit.
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. (TSX: G,
NYSE:GG) with a M&I gold resource(1) of 4.1M 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. The Company has outlined
an aggressive exploration plan backed by partners Agnico Eagle
Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K,
NYSE: KGC). For more information visit www.whitegoldcorp.ca.
(1) 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 encountered (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 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, 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
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 White Gold properties; failure to
expand or identify any additional mineral resources; 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 White
Gold properties and the Company’s other 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 mineral exploration and mining; 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 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, 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 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
ddonofrio@whitegoldcorp.ca
Goldcorp (NYSE:GG)
Historical Stock Chart
From Aug 2024 to Sep 2024
Goldcorp (NYSE:GG)
Historical Stock Chart
From Sep 2023 to Sep 2024