White Gold Corp. (TSX.V:
WGO, OTC – Nasdaq Intl:
WHGOF, FRA: 29W) (the "Company)
is pleased to announce additional Rotary-Air-Blast (“RAB”) and
Reverse Circulation (“RC”) drill results from the Vertigo target on
the JP Ross property, Yukon, Canada. Assays for 3 additional RAB
holes and 11 additional RC holes have been received, returning
additional high-grade mineralization in multiple zones. The RC
drilling further validated the previously announced RAB drill
results and identified new zones of high-grade gold mineralization
along strike and at depth, which remain open in all directions.
Drilling and other geological testing has also been conducted along
the 14km structural trend that hosts the Vertigo and other similar
targets.
Maps to accompany this news release can be found
at http://whitegoldcorp.ca/investors/exploration-highlights/.
Highlights Include:
- JPRVERRC18-006 returned
3.21 g/t Au over 82.3m, including 31.4 g/t Au over 6.1m, including
103.9 g/t Au and 400.0 g/t Ag over 1.52m from surface and three
deeper mineralized zones including 4.92 g/t Au over 6.1m from
36.58m.
- JPRVERRC18-009 returned
14.23 g/t Au over 6.1m, including 38.56 g/t Au over 3.05m from
surface and 6.1 g/t Au over 4.57m from 41.5m. This is the most
eastern drill intercept of the gold zones on the Vertigo target and
mineralization remains open along strike and at
depth.
- JPRVERRC18-003 returned
30.7 g/t Au over 1.52m from surface and 3.98 g/t Au over 7.62m,
including 7.14 g/t Au over 3.05m from 65.53m.
- A total of 17 RAB holes and
21 RC holes have been drilled on the Vertigo target, increasing
strike length of high-grade mineralization to over 305m x 250m.
Additional assay results are pending for RC holes within and beyond
this strike length, within the newly expanded target
area.
- The target area of
mineralization and alteration has been expanded to a footprint of
1,500m x 650m, hosting at least 12 individual zones and remains
open in all directions.
- Additional prospecting and
geological evaluation have been conducted along the 14km trend
which hosts the Vertigo discovery with the goal of identifying
similar gold zones nearby. Assays are pending and will be released
in due course.
“We are continuing to encounter high-grade gold
mineralization at or near surface on the Vertigo target and have
now encountered multiple additional high-grade zones at depth and
along strike,” stated Jodie Gibson, VP Exploration. “These new
results have provided further understanding of the geological model
and show the potential for a large high-grade mineralized
system.”
Drill ResultsA total of 917.45m
of RAB drilling over 17 holes was completed on the Vertigo target.
Several of the RAB holes failed to reach full depth due to
difficult ground conditions adjacent to or within the mineralized
zones. The RAB was converted to an RC system to maximize recoveries
and 1,491 m of RC has been drilled over 21 holes. Some of the RC
holes are within close proximity to previously reported RAB holes
to test for mineralization at depth beyond the limits of the RAB
drilling, up to 100m depth, and to evaluate the geometry of the
mineralized structures. The remainder step out along strike and on
additional structures along the Vertigo target.
Results for 3 additional RAB holes and 11 RC
holes from the Vertigo target have been received and are discussed
below. Individual assays for the reported holes range from trace to
103.9 g/t Au and trace to 400.0 g/t Ag; with significant zones of
alteration and anomalous mineralization noted in all holes except
one. The most significant results were obtained from holes
JPRVERRC18-001, JPRVERRC18-003, JPRVERRC18-06, JPRVERRC18-07 &
JPRVERRC18-09.
Significant drill results from the Vertigo
target included in this release are detailed in the table
below.
Hole ID |
From(m) |
To(m) |
Interval(m) |
Au(g/t) |
JPRVERRAB18-016 |
0.00 |
3.05 |
3.05 |
0.88 |
And |
10.67 |
12.19 |
1.52 |
1.08 |
And |
32.00 |
47.24 |
15.24 |
0.93 |
Including |
33.53 |
36.58 |
3.05 |
2.12 |
Including |
42.67 |
47.24 |
4.57 |
1.10 |
JPRVERRAB18-017 |
4.57 |
6.10 |
1.53 |
0.87 |
And |
27.43 |
36.58 |
9.15 |
1.03 |
Including |
27.43 |
30.48 |
3.05 |
2.16 |
JPRVERRC18-001 |
39.62 |
54.86 |
15.24 |
1.01 |
Including |
41.15 |
42.67 |
1.52 |
2.56 |
Including |
47.24 |
48.77 |
1.53 |
1.74 |
Including |
53.34 |
54.86 |
1.52 |
2.03 |
JPRVERRC18-002 |
62.48 |
65.53 |
3.05 |
0.72 |
JPRVERRC18-003 |
19.81 |
21.34 |
1.52 |
30.70 |
And |
65.53 |
73.15 |
7.62 |
3.98 |
Including |
65.53 |
68.58 |
3.05 |
7.14 |
JPRVERRC18-006 |
0.00 |
82.30 |
82.3 |
3.21 |
Including |
0.00 |
6.10 |
6.10 |
31.40 |
Including |
0.00 |
1.52 |
1.52 |
103.90 |
And |
13.72 |
22.86 |
9.14 |
2.02 |
And |
36.58 |
42.67 |
6.10 |
4.92 |
And |
70.10 |
73.15 |
3.05 |
2.92 |
JPRVERRC18-007 |
10.67 |
12.19 |
1.52 |
6.88 |
And |
30.48 |
32.00 |
1.52 |
9.40 |
JPRVERRC18-008* |
24.38 |
27.43 |
3.05 |
4.00 |
And |
45.72 |
47.24 |
1.52 |
1.25 |
And |
60.96 |
62.48 |
1.52 |
2.20 |
JPRVERRC18-009 |
0.00 |
6.10 |
6.10 |
14.23 |
Including |
0.00 |
3.05 |
3.05 |
38.56 |
And |
15.24 |
18.29 |
3.05 |
2.11 |
And |
41.15 |
45.72 |
4.57 |
6.10 |
Including |
41.15 |
42.67 |
1.52 |
14.80 |
*Hole ended in mineralization. |
Interpretation of the results is ongoing and there is not
currently enough information to estimate true thickness of the
mineralized zones.
JPRVERRC18-001 – Az: 000, Dip: -60°,
Depth: 76.2mJPRVERRC18-001 is located 109m to the SE of
RAB hole JPRVERRAB-014. The hole returned a 15.24m intercept of
1.01 g/t Au from 39.62m depth. Anomalous (>100 ppb Au) zones of
mineralization occur above and below the reported intercept.
Additionally, this is the western most hole received to date and
expands the drilled footprint of mineralization to 305m strike
length.
JPRVERRC18-003 – Az: 000, Dip: -60°,
Depth: 96.01mJPRVERRC18-003 was drilled to the north from
the same location as RAB hole’s JPRVERRAB18-001 & 002. The hole
returned two significant intercepts including 1.52m of 30.7 g/t Au
from 19.81m depth, and 7.62m of 3.98 g/t Au from 65.53m depth;
including 3.05m of 7.14 g/t Au from 65.53m depth.
JPRVERRC18-006 – Az: 180, Dip: -60°,
Depth: 86.87mJPRVERRC18-006 was collared 5m to the south
of JPRVERRAB18-014/RC-013 and intersected 4 zones of mineralization
with additional mineralization distributed between the zones. This
includes a 6.10m zone from surface averaging 31.4 g/t Au, including
1.52m of 103.9 g/t Au from surface; a 9.14m zone averaging 2.02 g/t
Au from 13.72m depth; a 6.10m zone averaging 4.92 g/t Au from
36.58m depth, including 1.52m of 14.4 g/t Au from 39.62m depth; and
a 3.05m zone averaging 2.92 g/t Au from 70.10m depth. Combined, the
zones average 3.21 g/t Au over 82.30m from surface. Excluding the
upper 1.52m of 103.9 g/t Au; the combined intercept averages 80.77m
of 1.3 g/t Au from 1.52m depth.
JPRVERRC18-007 – Az: 180, Dip: -60°,
Depth: 88.39mJPRVERRC18-07 is located 23m to the north and
drilled subparallel to JPRVERRAB18-014. The hole returned two
significant intercepts including 1.52m of 6.88 g/t Au from 10.67m
depth, and 1.52m of 9.40 g/t Au from 30.48m depth.
JPRVERRC18-009 – Az: 180, Dip: -60°,
Depth: 91.44JPRVERRC18-009 was drilled 8m to the NE of
previously reported hole JPRVERRAB18-011 and was drilled to
evaluate the area at depth. The hole returned 3 zones of
mineralization with additional mineralization distributed between
the zones. Results include a 6.10m zone of 14.23 g/t Au from
surface, including 3.05m of 38.56 g/t Au from surface; a 3.05m zone
of 2.11 g/t Au from 15.24m depth; and a 4.57m zone of 6.10 g/t Au
from 41.15m depth, including 1.52m of 14.80 g/t Au from 41.15m
depth. Combined, the zones average 2.70 g/t Au over 45.72m from
surface.
Vertigo Target - JP Ross
PropertyThe Vertigo Target is on the JP Ross property
which is comprised of 2,850 quartz claims covering over 57,000
hectares with at least 14 known target areas and numerous placer
gold bearing creeks. Previously announced drill results on the
Vertigo target range from trace to 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
(JPRVERRAB18-001); 45.00 g/t Au over 3.05m from 1.52m depth, within
a broader intercept of 9.65 g/t Au over 15.24m (JPRVERRAB18-011);
and 23.44 g/t Au over 24.37m (JPRVERRAB18-014). Additional
exploration in the area also encountered multiple high-grade
grab samples including 139.9 g/t, 135.6 g/t and 132.9g/t Au
defining a strike length of approximately 1.5km on the Vertigo
target along a 12km mineralized trend. The Vertigo Target is
located approximately 25km north of the Company’s flagship White
Gold property and is within 2km of an existing road accessible from
Dawson City. Recently staked and acquired claims adjacent to the
property are situated within a prolific placer mining camp where
coarse placer gold is common.
To date, at least 12 mineralized structures are
recognized on the Vertigo target over a 1500m x 650m area, and
consist of W-NW trending, steeply dipping zones of quartz veining,
brecciation, and fracture-controlled mineralization with
disseminated to vein-controlled pyrite-arsenopyrite-galena and,
locally, visible gold mineralization. Drill testing to date has
validated the mineralization over 305m of strike length and it is
open along strike and at 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. (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. 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 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 White Gold and other 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
Photos accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/133932b1-2ccf-40a1-87b9-64d70e278e0b
http://www.globenewswire.com/NewsRoom/AttachmentNg/ba545391-b2e3-4e70-8445-3233550f0ce1
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