White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA:
29W) (the "Company") is pleased to announce additional
results for the 2023 exploration diamond drilling at the Betty Ford
target on the Betty property (Figure 1). The new assay results
include 2.96 g/t Au over 46.5 m from 11.5 m depth in hole
BETFD23D014, including a higher-grade subinterval of 5.03 g/t Au
over 25 m, which significantly expanded the width of the near
surface high-grade gold zone to the south. Results for hole
BETFD23D012 and partial results for hole BETFD23D013 were announced
previously on September 7, 2023, highlighted by 3.38 g/t Au over
53.0m from 7.3m depth in BETFD23D013. Results for hole BETFD23D015
remain pending but are expected to be received and announced in the
near future.
The Betty property lies along strike and
approximately 40 km east-southeast (Figure 2) of Newmont
Corporation’s (NYSE: NEM, TSX: NGT) Coffee gold deposit with
Indicated Resources of 2.14 Moz gold and Inferred Resources of 0.23
Moz gold(2). The Betty property is also contiguous to and 15 km
northeast of Western Copper and Gold Corporation’s (TSX: WRN, NYSE:
WRN) Casino porphyry copper-gold project with Measured &
Indicated Resources of 14.8 Moz gold & 7.6 Blbs copper and
Inferred Resources of 6.3 Moz gold and 3.1 Blb copper(3).
Betty Ford is located approximately 65 km
southeast of the Company’s flagship White Gold Project in
west-central Yukon, Canada, which comprises 16 million tonnes
averaging 2.23 g/t Au for 1,152,900 ounces of gold in the Indicated
Resource category and 19 million tonnes averaging 1.54 g/t Au for
942,400 ounces of gold in the Inferred Resource category (1).
This drill program forms part of the Company’s
2023 fully funded exploration program on its extensive and
underexplored 350,000 hectare land package in the emerging White
Gold District, Yukon, supported by strategic partners Agnico Eagle
Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation
(TSX: K, NYSE: KGC).
“These results have significantly expanded the
width of the near surface gold zone at Betty Ford which remains
open, and are once again amongst the highest-grade drill holes in
the district and are in an area that has produced some of the most
substantial deposits in the White Gold District. The 2023 drilling
has also significantly improved our structural interpretation of
the mineralization controls at this high-grade gold target to aid
in future drill planning, and continues to demonstrate the
expansiveness of gold mineralization in our underexplored district
scale exploration portfolio in a tier 1 mining district,” stated
David D’Onofrio, Chief Executive Officer.
Maps and images accompanying this news release
can be found at
http://whitegoldcorp.ca/investors/exploration-highlights/. Assay
results and drill collar details for Betty Ford are summarized
below in Tables 1 and 2 respectively.
Highlights:
- 2023
exploration diamond drilling (Figure 2) was designed to further
evaluate the zone of near-surface high grade gold mineralization
encountered in 2021 (BETFD21D003: 3.46 g/t Au over 50 m) and 2022
(BETFD22RC004: 8.94 g/t Au over 18.29 m), and also test for the
presence of a mineralized buried porphyry at depth, as well as a
possible feeder contact/structure for the gold mineralization.
- BETFD23D014
intersected 2.96 g/t Au over 46.5 m from 11.5 m depth, including a
high-grade core of 5.03 g/t Au over 25 m from 30 m depth
- BETFD23D014
increased the width of the high-grade gold zone by at least 50%,
remaining open for further expansion and intercepted the highest
grades to date in the eastern portion of the zone.
- The high-grade
mineralized oxide gold zone has now been traced for 175m along
strike, 75m depth and up to 90m in width to date, and is open for
expansion with the breccia strike known to extend for at least 500m
which remains largely untested.
- Recent gold
intersections within the sulphide domain also suggests the presence
of gold bearing structures beneath the high-grade oxide gold
zone.
- A detailed
video overview of BETFD23D014 diamond drill core can be found here:
https://youtu.be/5222x6aH3QM?si=PlDGcjjWW1euTGNP
- Company
management will be hosting a Live Virtual Webinar today November
8th, 2023 at 11am, to provide further details of the 2023 results
at the Betty Ford Target, see details below.
- The Company
will be attending and presenting at the Yukon Geoscience Forum
2023, see details below.
- Additional
results from the Company’s 2023 exploration program to be announced
in due course.
Live Webinar Corporate
Update
Company management will be hosting a live
virtual webinar to provide an overview of the Betty Ford
target and 2023 results released to date and followed by a live
interactive Q&A session. Interested parties are encouraged to
register and attend below.
Date: November 8th, 2023Time: 11 am ET / 8 am
PTRegistration: https://events.6ix.com/preview/reviewing-the-geology-of-the-betty-ford-gold-drill-results
Betty Ford Target
The Betty property comprises 860 quartz claims
which cover an area of 17,127 hectares and hosts several
prospective exploration targets including Betty Ford, Mascot
(BETMAS22RC005: 1.14 g/t Au over 27.43 m; BETMAS22RC004: 1.24 g/t
Au over 3.05 m, 1.48 g/t Au over 9.14 m & 4.13 g/t Au over 7.62
m), Betty White, Betty Grable and Betty Black. The property is
transected by the Coffee Creek Fault which exerts important
structural controls on Newmont’s Coffee gold deposit 40 km along
strike to the west-northwest.
Gold mineralization at the Betty Ford target is
hosted in a polylithic breccia unit along an east-west striking
splay structure located approximately 1.5 km south of and parallel
to the Coffee Creek Fault. The target, which forms an approximately
1 km long east-west trending gold-in-soil anomaly with gold values
ranging from trace up to 1,961 ppb Au, was initially RAB drill
tested by the Company in 2018 with hole BETFRDRAB18-002
intersecting near surface gold mineralization averaging 1.08 g/t Au
over 50.29 m from 4.57 m depth. During 2021 and 2022, the Company
completed 11 diamond drill holes totalling 2,297 m and 2 RC holes
totalling 201 m to further test the target along an approximately
250 m strike length. This drilling has continued to intersect a
broad zone of near-surface gold mineralization within the
polylithic breccia host unit that has returned 1.17 g/t Au over
48.00 m in hole BETFD21D001, 3.46 g/t Au over 50.0 m in
BETFD21D003, 1.50 g/t Au over 55.15 m in BETFD22D007, and 8.94 g/t
Au over 18.29 m in BETFD22RC004 including 21.73 g/t Au over 6.10 m.
Thus far, mineralization has been traced for approximately 175 m
along strike and to a vertical depth of 75 m. The zone remains open
primarily to the east for a minimum of 100 m and further evaluation
of the target is recommended. In the eastern region of Betty Ford,
an approximately 95m wide clast-supported breccia has been
identified, which is interpreted to be more distal to the main gold
bearing portion of the breccia. Future drilling will be focused in
this area to test for additional near-surface gold mineralization.
Finally, a second, 5-10m wide breccia unit also appears to be
present approximately 30-50 m north of the main gold bearing
breccia. To date, this second breccia has only been intersected in
the sulphide domain, with the potential for near-surface gold
mineralization in the oxide domain remaining untested.
The 2023 diamond drilling program (Figure 3) at
the Betty Ford target comprised 4 holes totaling 1,165 m that was
designed to test: 1) the presence of a mineralized buried porphyry
at depth beneath the polylithic breccia unit; 2) a possible feeder
contact/structure identified from VLF-EM surveying; 3) a strong
gold-in-soil anomaly in the area of an eastern gully and
interpreted fault structure; and 4) controls on higher grade gold
mineralization such as that intersected in hole BETFD22RC004.
Betty Ford - 2023 Diamond Drilling
Results and Interpretation
Assay highlights for the 2023 Betty Ford diamond
drilling program are summarized below in Table 1. Results for hole
BETFD23D012 and partial results for BETFD23D013 were previously
announced and provided in a Company news release dated September 7,
2023. Results for hole BETFD23D015 remain pending but are expected
to be announced in the near future.
Hole BETFD23D014 (Figure 4) was drilled to test
the eastern and southern extension of gold mineralization within
the central polylithic breccia and to test for a possible fault
which appears to offset the breccia further to the east dextrally.
The hole collared in oxidized mineralized breccia, which then
passed through a transitional zone to approximately 60 m in depth.
The targeted fault was intersected at a depth of approximately 190
m. In the polylithic breccia, the hole intersected 2.96 g/t Au over
46.50 m from 11.50 m depth, which included a higher-grade
subinterval of 5.03 g/t Au over 25.00 m (Figure 5). These results
continue to demonstrate the high-grade potential of the breccia in
the eastern portion of the central polylithic breccia, where,
approximately 50 m to the west, hole BETFD21D003 intersected 3.46
g/t Au over 50 m. Most importantly, this hole has extended the host
breccia unit to the south to a minimum of 75 m wide, where previous
interpretations estimated the breccia in this area to be
approximately 50 m wide.
Detailed petrographic studies and structural
analysis suggest two separate controls on gold mineralization.
Within the oxide and transitional domains, gold is hosted primarily
within the matrix of the breccia and typically occurs along grain
boundaries of pyrite and lesser sphalerite. Within the sulphide
domain, at depths greater than approximately 75 m, gold
mineralization may be hosted in discrete microfractures, suggesting
a more significant structural component to gold mineralization
within the breccia at depth. Various types of porphyry clasts are
abundant within the breccia, along with the presence of at least
two distinct in situ porphyry dykes which crosscut the breccia
unit. Age dating of these dykes is currently underway to determine
potential associations with the nearby Casino porphyry deposit. The
current interpretation of Betty Ford suggests the breccia is part
of a magmatic-hydrothermal breccia pipe or a diatreme-related pipe.
Geochemical and hyperspectral studies on the core samples further
suggest gold mineralization may have been deposited within a low
sulphidation epithermal environment. Both interpretations indicate
the presence of an underlying porphyry.
Table 1. Highlights of 2023 Diamond
Drilling Gold Assay Results for the Betty Ford Target.
Hole No. |
From (m) |
To (m) |
Length (m)* |
Au (g/t)** |
BETFD23D012*** |
166.70 |
175.00 |
8.30 |
1.20 |
Including |
174.00 |
175.00 |
1.00 |
5.51 |
BETFD23D013*** |
7.30 |
60.30 |
53.00 |
3.38 |
Including |
18.00 |
24.30 |
6.30 |
7.19 |
And |
38.80 |
43.15 |
4.35 |
8.00 |
BETFD23D014 |
11.50 |
58.00 |
46.50 |
2.96 |
Including |
30.00 |
55.00 |
25.00 |
5.03 |
BETFD23D015 |
Assays Pending |
* All drill hole intercepts reported herein are
core lengths. Currently there is insufficient data to estimate true
thicknesses.** Gold assays are uncapped.*** See Company news
release dated September 7, 2023.
Table 2. Collar details for 2023 Diamond
Drill Holes at the Betty Ford Target.
Hole Number |
Collar Location (UTM NAD83 Zone 7) |
Azimuth |
Dip |
Length |
Easting (m) |
Northing (m) |
Elevation (m) |
(°) |
(°) |
(m) |
BETFD23D012 |
624,600 |
6,963,430 |
855 |
0 |
-70 |
201 |
BETFD23D013 |
624,701 |
6,963,607 |
856 |
175 |
-75 |
503 |
BETFD23D014 |
624,724 |
6,963,561 |
870 |
20 |
-60 |
250 |
BETFD23D015 |
624,577 |
6,963,583 |
816 |
195 |
-50 |
211 |
TOTAL |
4 holes |
|
|
|
|
1,165 |
Yukon Geoscience Forum 2023
The Company will be presenting a corporate
update and Betty Ford technical overview at the upcoming Yukon
Geoscience Forum 2023. Management will also participate in a
Q&A session for each presentation. Interested parties are
encouraged to register and attend.
Website:
https://yukonminers.org/geoscience/Event Dates: November 19th to
22nd, 2023Location: Kwanlin Dün Cultural Centre
Corporate PresentationDate
& Time: November 19, 2023 at 11:20am PSTPresenter: Terry Brace,
VP of Exploration
Betty Ford Technical
Presentation: Date & Time: November 22, 2023 at
11:30am PSTPresenter: Cameron Norton, Exploration Manager
QA/QC
Analytical work for the 2023 diamond drilling
program was performed by Bureau Veritas, an internationally
recognized analytical services provider, at its South Vancouver,
British Columbia laboratory. Sample preparation was carried out at
its Whitehorse, Yukon facility. All diamond drill core samples were
prepared using the PRP70-250 package, where samples were weighed,
dried, and crushed to greater than 70% passing a 2mm sieve, then
pulverized to greater than 85% passing 75 microns). Core were then
analyzed in accordance with BV’s FA430 and MA250 packages, for both
gold analysis by fire assay (30g fire assay with AAS finish) and
ultra-trace multi-element ICP analysis (0.25 g, 4 acid digestion
and ICP-MS analysis).
The reported diamond drilling sampling program
work was completed using industry standard procedures, including a
quality assurance/quality control (“QA/QC”) program consisting of
the insertion of standard, blank, and duplicate samples into the
sample stream. BV also runs a comprehensive QA/QC program of
standards, duplicates, and blanks within each sample stream.
About White Gold Corp.The
Company owns a portfolio of 17,584 quartz claims across 30
properties covering approximately 350,000 hectares representing
over 40% of the Yukon’s emerging White Gold District. The Company’s
flagship White Gold project hosts four near-surface gold deposits
which collectively contain an estimated 1,152,900 ounces of gold in
Indicated Resources and 942,400 ounces of gold in Inferred
Resources(1). Regional exploration work has also produced several
other new discoveries and prospective targets on the Company’s
claim packages which border sizable gold discoveries including the
Coffee project owned by Newmont Corporation with Indicated
Resources of 2.14 Moz at 1.23 g/t Au, and Inferred Resources of
0.23 Moz at 1.01 g/t Au(2), and Western Copper and Gold
Corporation’s Casino project which has Measured and Indicated
Resources of 7.6 Blb Cu and 14.5 Moz Au and Inferred Resources of
3.3 Blb Cu and 6.6 Moz Au(3). For more information visit
www.whitegoldcorp.ca.
(1) See White Gold Corp. technical report titled
“2023 Technical Report for the White Gold Project, Dawson Range,
Yukon, Canada ”, Effective Date April 15, 2023, Report Date May 30,
2023, NI 43-101 Compliant Technical Report prepared by Dr. Gilles
Arseneau, P.Geo., available on SEDAR+.(2) See Newmont Corporation
10-K: Annual report for the year ending December 31, 2022, in the
Measured, Indicated, and Inferred Resources section, dated February
23, 2023, available on EDGAR. Reserves and resources disclosed in
this Form 10-K have been prepared in accordance with the Regulation
S-K 1300, and do not indicate NI43-101 compliance.(3) See Western
Copper and Gold Corporation technical report titled “Casino
project, Form 43-101F1 Technical Report Feasibility Study, Yukon
Canada”, Effective Date June 13, 2022, Issue Date August 8, 2022,
NI 43-101 Compliant Technical Report prepared by Daniel Roth, PE,
P.Eng., Mike Hester, F Aus IMM, John M. Marek, P.E., Laurie M.
Tahija, MMSA-QP, Carl Schulze, P.Geo., Daniel Friedman, P.Eng.,
Scott Weston, P.Geo., available on SEDAR+.
Qualified PersonTerry Brace,
P.Geo. and Vice President of Exploration for the Company is a
“qualified person” as defined under National Instrument 43-101 –
Standards of Disclosure of 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:The expected
benefits to the Company relating to the exploration conducted and
proposed to be conducted at the White Gold properties; the receipt
of all applicable regulatory approvals for the Offering; 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; ongoing
uncertainties relating to the COVID-19 pandemic; and those factors
described under the heading “Risks Factors” in the Company’s annual
information form dated July 29, 2020 available on SEDAR+. 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 TSXV nor its Regulation
Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this
news release.
For Further Information, Please
Contact:
Contact Information:David
D’OnofrioChief Executive OfficerWhite Gold Corp.(647) 930-1880
ir@whitegoldcorp.ca
Request Meeting:
https://calendly.com/meet-with-wgo/15min
Photos accompanying this announcement are available at:
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https://www.globenewswire.com/NewsRoom/AttachmentNg/9cbee558-de6e-47b1-b36b-2acc088fa2e4
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