White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF,
FRA: 29W) (the "Company") is pleased to announce diamond
drill results from its flagship White Gold Property, including the
Golden Saddle & Arc deposits and the Ryan’s Surprise discovery,
as well as positive metallurgical test results on its Arc deposit
that indicate the mineralization is non-refractory and a strong
global recovery of 85.2%. This phase of diamond drilling was
designed to target previously underexplored portions of the Golden
Saddle & Arc deposits and surrounding area, as well as the
Ryan’s Surprise discovery, located less than 2km west of the Golden
Saddle deposit. The ongoing fully-funded $13 million 2019
exploration program backed by partners Agnico Eagle Mines Limited
(TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC)
includes diamond drilling on the Vertigo target (JP Ross property),
Golden Saddle & Arc deposits (White Gold property) as well as
soil sampling, prospecting, GT Probe, trenching and RAB/RC drilling
on various other properties across the Company’s expansive and
package located in the prolific White Gold District, Yukon, Canada.
Highlights Include:
- Significant mineralization encountered on Ryan’s
Surprise discovery, 2km west of Golden Saddle. Hole WHTRS19D012
encountered two distinct zones including 2.66 g/t Au over 11.00m
from 93.00m depth and 2.10 g/t Au over 31.78m from 142.22m depth,
including 4.23 g/t Au over 3.06m.
- Drill results from the Ryan’s Surprise expanded on 2018
discovery drill holes, adding down-dip mineralization and
demonstrating the presence of multiple gold zones in addition to
those previously modelled.
- Drilling on the Arc produced some of the best grades to
date, and significantly extended mineralization 300m to the east to
a length of 1,300m, an increase of approximately 23% and infilled
significant gaps in the geological model.
- Preliminary metallurgical testing on the Arc deposit
indicates that mineralization is non-refractory and a strong global
recovery of 85.2%.
- Extended high-grade mineralization at Golden Saddle
deposit in multiple directions. Deposit continues to be open along
strike and at depth.
- Additional drill results for the Vertigo discovery and
the QV deposit are forthcoming and will be released in due
course.
- Regional exploration activity is ongoing across the
White Gold, JP Ross and Hen properties (including Titan target),
with related soil sampling, prospecting, GT Probe sampling,
trenching and RAB/RC drill results to be released in due
course.
Images to accompany this news release can be
found
at http://whitegoldcorp.ca/investors/exploration-highlights/.
“We are extremely pleased with the results to
date on our flagship White Gold property where we have continued to
demonstrate success on all fronts. The latest diamond drill results
continue to demonstrate the continuity of near surface
mineralization on the Golden Saddle and Arc deposits and
surrounding areas. With every drill hole encountering
mineralization, and newly identified targets displaying similar
characteristics to the Golden Saddle and Arc, we are more confident
than ever in our ability to define substantial additional near
surface, high-quality mineralization on this property in close
proximity to our growing flagship deposits, with the significant
new mineralization encountered on Ryan’s Surprise being just one
such example,” stated Jodie Gibson, VP of Exploration, “The
positive metallurgical results on Arc also present a tremendous new
opportunity to significantly increase our resources, with some of
our largest and most underexplored targets having not been
considered high priority until the receipt of these recent results.
We continue to be very active on several new targets across various
properties and are looking forward to the balance of these
results.”
Ryan’s Surprise DiscoveryDrill
results from the Ryan’s Surprise expanded on last year’s discovery
drill holes, adding down-dip mineralization and demonstrating the
presence of multiple significant gold zones in addition to those
previously modelled which remains open in multiple directions.
The Ryan’s Surprise target is located
approximately 2.0km WSW from the centre of the Golden Saddle
deposit. Significant mineralization was first encountered by the
Company in 2018, including holes WHTRYN18RC0001 which intersected
20.64 g/t Au over 6.10m from 83.82m depth and WHTRYN18RC0002 which
intersected 5.02 g/t Au over 13.17m from 121.92m depth.
Previous drilling was directed from north to south on an
interpreted steeply northerly dipping structure. Further
assessment and interpretation of this data by the Company
determined that the zone may actually be steeply dipping to the
south. Accordingly, it was decided to test this
interpretation with 2 northerly dipping diamond holes to explore
the potential for multiple mineralized structures in the area.
The mineralization encountered to date is
partially oxidized and is brecciation and stockwork quartz veining
and fracture controlled to disseminated pyrite in weakly to
strongly sericite altered quartz biotite gneiss, biotite schist,
and amphibolite. The mineralization shows a strong association with
elevated arsenic and has similarities to both the Golden Saddle and
Arc and may represent a new style of mineralization previously
unrecognised on the property. To date the Ryan’s Surprise has
returned some of the best drill results outside of the Golden
Saddle and Arc, and is a strong target for additional drilling.
Drilling
Highlights:WHTRS19D011 This
hole was drilled at an azimuth of 000° and a dip of -60 to a depth
of 176m and crossed WHTRYN18RC001. A mineralized zone was
intersected which ran for 8.70m at a grade of 1.05 g/t Au from
128.65m depth, including 8.22 g/t Au over 1.0m representing
down-dip mineralization from WHTRYN18RC001.
WHTRS19D012 Located 125m
southwest of x011 this hole was also drilled to 176m depth at an
azimuth of 000° and a dip of -60 and is on the same section as
WHTRYN18RC002 which intersected 4.46 g/t Au over 13.72m. xD0012
intersected two zones including an upper zone of 2.6 g/t Au over
11.00m from 93.00m, including 4.23 g/t Au over 3.06m from 93m
depth. Deeper in the hole a series of zones were intersected that
averaged 2.10 g/t Au over 31.78m from 142.22m. Within this and
separated by unmineralized intervals were 2.85 g/t Au over 4.14 m
from 142.33m, 2.39 g/t Au over 4.26m from 154.00m, and 2.83 g/t Au
over 11.50m from 162.50m, including 5.93 g/t Au over 2.07m from
168.66m representing down-dip mineralization from
WHTRYN18RC002.
Arc DepositMetallurgical test
work on the Arc indicates that mineralization is non-refractory and
strong global recovery of 85.2%. Drill results from the Arc were
among the highest grades encountered on the deposit, with several
intercepts grading higher than the grades reported in the 2019
technical report. The reported holes also significantly extended
the footprint of the deposit 300m to the east to a length of
1,300m, an increase of approximately 23% and infilled significant
gaps in the geological model.
Nine holes were completed on the Arc in 2019.
Located immediately south and southeast of the Golden Saddle, the
Arc contributed an estimated 17,000 Indicated ounces (562,000
tonnes at 0.98 g/t Au) and 194,500 Inferred ounces (5,186,000
tonnes at 1.17 g/t Au) to the Company’s 2019 resource
update.
2019 drilling consisted of a first phase of 7
holes (WHTAR19D029 – 035) totalling 1,424m drilled aimed at
extending the known zones, mainly to the east, and infilling large
gaps within the existing resource areas in order to gain additional
geological knowledge of the deposit, as well as to obtain potential
gains in the quality and extent of resources. Later two
additional holes were drilled in the Arc area targeting the surface
geochemistry expression of a potential lower Arc lens (WHTAR19D036
– 037).
Based on the 2019 results, the mineralized
footprint of the Arc has been significantly extended eastward
through holes 29 & 30, along with historic hole WD-014, which
extend the strike of the Arc an additional 300m to the east, to a
length of 1,300m, an increase of approximately 23%. The current
interpretation is that this mineralization corresponds to an
extension of the lower Arc zone, a subparallel zone to the Arc
which is poorly defined in historic drilling. Additionally, on the
western end of the deposit area, hole WHTAR19D034, located 850m
west of hole xD030, infilled a 150-metre gap between historic holes
WD-075 and WD-088, and intercepted a higher grade than typical Arc
intersections, indicating the potential to increase resource grade
with additional infill drilling.
Limited and widely spaced historic drilling on
the Arc has defined two E-W trending, north dipping, zones of
mineralization at least 1,300m along strike and up to 400m
down-dip. Mineralization on the Arc is hosted within breccia zones
with secondary stockwork quartz veining and pyrite mineralization.
These zones are hosted within a meta-sedimentary package consisting
dominantly of biotite rich, locally graphitic, quartzites and
schist. The mineralization shows a strong association with elevated
As & Sb, though it should be noted that there are broad zones
within the Arc with strongly elevated As & Sb without gold
mineralization, indicating the gold is associated with a secondary
event. Initial metallurgical testing on the Arc by Underworld
Resources indicated recoveries on the Arc up to 85%.(1)
Preliminary follow-up metallurgical work by the
Company in 2018 & 2019 indicates mineralization on the Arc
responds well to a combination of gravity concentration (7.4%
recoveries), followed by an Alkaline Atmospheric Oxidation (AAO)
pre-treatment and flotation (81.5% to 87.5% recoveries) with a
global recovery of 85.2%. The test work also indicated that
graphite within the Arc shows negligible pre-robbing behavior and
that the gold mineralization is not encapsulated within sulfide
minerals (pyrite or arsenopyrite) and as such indicates the
mineralization to be non-refractory in nature. This preliminary
work was completed on a single composite of Arc mineralization from
half drill core at the COREM Technical Services facility in Quebec.
While the results are preliminary, they confirm excellent potential
for strong recoveries in the Arc. More detailed metallurgical test
work will be completed on the Arc in upcoming seasons.
(1) See Underworld Resources News Release dated
January 5, 2010. Available on SEDAR.
Drilling
Highlights:WHTAR19D030 Hole x030 was
drilled just outside the Arc Main lens at the east end of the 2019
resource pit, aimed at expanding the Arc zone to the east.
The hole returned 3.64 g/t Au over 5.40m from 132m, including 14.30
g/t Au over 1.30m from 134m and represent higher grades that
average in the area. The mineralization intercepted in holes
29 & 30, along with historic hole WD-014 are interpreted to be
eastern extensions of the lower Arc zone, and together extend the
Arc zone over 300m to the east.
WHTAR19D031Hole x031 is located
175m to the northwest of x030, splitting a gap of ~160m between
historic holes WD-039, WD-042 and WD-081. The hole intersected the
zone where expected and returned 1.28 g/t Au over 16.00m from
102.00m.
WHTAR19D034 Hole x034 is
located 850m west of hole x030, filling in a 150 metres gap between
historic holes WD-075 and WD-088. The main zone was successfully
intersected and returned a 10.09m intercept of 2.92g/t Au from
65.18m, including 3.67 g/t Au over 6.00m from 68m. This is a
much higher grade than most Arc intersections and indicates the
potential to increase resource grade with additional infill
drilling.
Golden Saddle DepositDrill
results from the Golden Saddle deposit expanded the previously
modelled mineralization downdip on the western portion of the
deposit, added near surface mineralization in previously unmodelled
areas and locally increased thickness of the known
mineralization.
The Golden Saddle deposit, including the GS
Main, GS Footwall and GS West zones, consists of a series of
subparallel zones trending NE-SW and dipping to the NW at
approximately 55 degrees with mineralization occurring along
faults, fractures and breccia zones in an overall normal to
strike-slip structural regime. Together, the zones define
mineralization over 1,500m strike length and up to 725m down dip.
This includes a continuous high-grade core of mineralization >3
g/t Au on the GS Main that is up to 50m true-thickness and
traceable over 500m of strike length from surface up to 530m
down-dip.
The results for 3 additional Golden Saddle holes
as well as the remainder of previously released hole WHTGS19D0212
have been received. Two holes targeted the downdip extension of the
GS Main lens on the western edge of the deposit, and the third was
infill targeting the GS Main and GS Footwall lenses.
Drilling
Highlights:WHTGS19D0212As previously
released, hole x212 was an infill hole on the eastern side of the
GS main targeting where the current model was believed to be
underestimating the width of the zone and confirmed this
interpretation returning 4.85 g/t Au over 27.45m from 37.55m depth;
including 6.58 g/t Au over 9m from 51m depth. A second zone of
mineralization, correlating with a GS Footwall lenses, was
intercepted at 211m depth and returned 1.37 g/t Au over 12.00m,
including 2.41 g/t Au over 4.00m from 212m.
WHTGS19D0214Hole x214 is
located 341m to the north of x212, targeting the near surface
extension of the GS Main and GS Footwall zones. The GS Main was
intersected at shallow depth, returning a 5.40m intercept grading
3.83 g/t Au from 18.00m depth. The intersection was in a previously
unmodelled area and will expand the GS Main approximately 30m in
this area. An additional zone corresponding with the GS Footwall
was also intercepted in the hole and returned 2.08 g/t Au over
13.00m from 192m depth.
Drilling Highlights:Individual
assays for the reported results ranged from trace to 11.00 g/t Au.
True thickness for intercepts reported in the Golden Saddle and Arc
are estimated at 85 – 95% true thickness, and there is not enough
information to determine true thickness on the Ryan’s Surprise at
this time. The most significant drill results included in this
release are included in the table below:
HOLE ID |
Target |
FROM (m) |
TO (m) |
Length(m) |
Au g/t |
WHTGS19D0212** |
Golden Saddle |
37.55 |
65.00 |
27.45 |
4.85 |
incl.** |
51.00 |
60.00 |
9.00 |
6.58 |
and |
211.00 |
223.00 |
12.00 |
1.37 |
incl. |
212.00 |
216.00 |
4.00 |
2.41 |
incl. |
213.30 |
215.08 |
1.78 |
3.86 |
WHTGS19D0214 |
Golden Saddle |
18.00 |
23.40 |
5.40 |
3.83 |
and |
115.00 |
116.00 |
1.00 |
1.61 |
and |
192.00 |
205.00 |
13.00 |
2.08 |
and |
212.00 |
214.00 |
2.00 |
1.60 |
WHTAR19D030 |
Arc |
101.3 |
102.70 |
1.40 |
2.38 |
and |
132.00 |
137.40 |
5.40 |
3.64 |
incl. |
134.00 |
135.30 |
1.30 |
11.00 |
WHTAR19D031 |
Arc |
102.00 |
118.00 |
16.00 |
1.28 |
incl. |
104.00 |
108.00 |
4.00 |
2.54 |
WHTAR19D032 |
Arc |
57.90 |
59.00 |
1.10 |
2.50 |
and |
94.15 |
105.00 |
10.85 |
1.59 |
and |
202.00 |
203.00 |
1.00 |
2.88 |
WHTAR19D034 |
Arc |
65.19 |
76.00 |
10.09 |
2.92 |
incl. |
68.00 |
74.00 |
6.00 |
3.67 |
and |
90.00 |
92.00 |
2.00 |
1.45 |
WHTAR19D035 |
Arc |
52.53 |
74.00 |
21.47 |
0.86 |
incl. |
52.53 |
53.28 |
3.75 |
1.82 |
and incl. |
61.00 |
74.00 |
13.00 |
0.87 |
and |
105.00 |
107.00 |
2.00 |
2.50 |
and |
182.14 |
185.00 |
2.86 |
0.84 |
WHTRS19D011 |
Ryan’s Surprise |
33.00 |
34.00 |
1.00 |
8.22 |
WHTRS19D012 |
Ryan’s Surprise |
61.15 |
62.20 |
1.05 |
1.39 |
and |
93.00 |
104.00 |
11.00 |
2.66 |
incl. |
93.00 |
96.06 |
3.06 |
4.23 |
and |
142.22 |
174.00 |
31.78 |
2.10 |
incl. |
142.22 |
146.36 |
4.14 |
2.85 |
and incl. |
154.00 |
158.26 |
4.26 |
2.39 |
and incl. |
162.50 |
174.00 |
11.50 |
2.83 |
incl. |
168.66 |
170.73 |
2.07 |
5.93 |
* True thickness estimated at 80 – 95% of the reported
intervals, and there is not enough information to determine true
thickness on the Ryan’s Surprise at this time.** Top portion of
hole reported in Company’s News Release dated August 8, 2019,
available on SEDAR.
QA/QCThe analytical work for
the 2019 drilling program will be performed by ALS 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 RC chip and
diamond core samples will be prepared using procedure PREP-31H
(crush 90% less than 2mm, riffle split off 500g, pulverize split to
better than 85% passing 75 microns) and analyzed by method Au-AA23
(30g fire assay with AAS finish) and ME-ICP41 (0.5g, aqua regia
digestion and ICP-AES analysis). Samples containing >10g/t Au
will be reanalyzed using method Au-GRAV21 (30g Fire Assay with
gravimetric finish).
The reported work will be completed using
industry standard procedures, including a quality assurance/quality
control (“QA/QC”) program consisting of the insertion of certified
standard, blanks and duplicates into the sample stream.
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 1,039,600 ounces Indicated at
2.26 g/t Au and 508,700 ounces Inferred at 1.48 g/t Au.
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 Newmont Goldcorp
Corporation 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.
(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.
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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