White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA:
29W) (the "Company") is pleased to announce results for
2023 exploration diamond drilling at the Betty Ford target on the
Betty property (Figure 1). Assay results for hole BETFD23D015
include 5.04 g/t Au over 20.85 m within the near-surface oxide
domain from 18.65 m depth, including two higher-grade subintervals
grading 13.34 g/t Au over 2.30 m and 11.47 g/t Au over 2.05 m. A
zone of gold mineralization was also encountered deeper within the
sulphide domain of the host breccia unit, grading 0.44 g/t Au over
28.55 m from 107.85 m depth, and including a subinterval of 1.38
g/t Au over 6.15 m. The 2023 diamond drilling also encountered a
second breccia unit approximately 30 to 50 m north of the main gold
bearing breccia, with the potential for near-surface gold
mineralization in the oxide portion of this breccia remaining
untested.
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).
“We are very encouraged by the structural and
geological setting of Betty Ford, along with the consistency of
wide high-grade gold intersections. Results from the 2023 drilling,
coupled with previously reported drilling since 2021, has
progressively developed a better understanding of the geology and
mineralization at the Betty Ford target. When interpreted alongside
the broader regional geology of the property, the Betty Ford target
and Betty property represent a high priority target for generating
future mineral resources within the evolving White Gold District,”
stated Cameron Norton, Exploration Manager.
Maps and images accompanying this news release
can be found at
http://whitegoldcorp.ca/investors/exploration-highlights/. Complete
assay results and drill collar details for the 2023 Betty Ford
diamond drill program are summarized below in Tables 1 and 2
respectively.
Highlights:
- Hole
BETFD23D015 intersected 5.04 g/t Au over 20.85 m from 18.65 m
depth, including high-grade subintervals of 13.34 g/t Au over 2.3 m
and 11.47 g/t Au over 2.05 m.
- BETFD23D015
also intersected a zone of gold mineralization deeper within the
sulphide domain of the host breccia unit, grading 0.44 g/t Au over
28.55 m from 107.85 m depth, and including a subinterval of 1.38
g/t Au over 6.15 m.
- BETFD23D015 was
drilled primarily to help determine the character and controls on
high-grade gold mineralization encountered in 2022 reverse
circulation hole BETFD22RC004, which graded 8.94 g/t Au over 18.29
m. The gold zone in hole 015 is most concentrated within a
moderately oxidized and notably matrix- rich portion of the
breccia; it appears that the increased concentration of matrix
within the transitional weathering domain may be playing a role in
controlling increased gold grades.
- 2023 drilling
has increased the surface expression of the polylithic breccia host
unit by 90% in width in the western extension, with the gold
bearing portion of the breccia now appearing to be at least 95 m
wide and the southern contact open for expansion at surface.
- Recent gold
intersections in BETFD23D015, BETFD23D012, and BETFD22RC004 within
the sulphide domain suggest the presence of gold bearing structures
at greater depths. BETFD23D015 encountered the broadest
intersection of gold mineralization to date within the sulphide
domain and highlights the additional largely untested deeper gold
potential which was newly encountered in 2023.
- A second
breccia unit was encountered in previously drilled holes 002, and
014, approximately 30 to 50 m north of the main gold bearing
breccia and measures approximately 150 m in strike length, with the
potential for near-surface gold mineralization in the oxide domain
remaining untested.
- 2023 diamond
drilling consisted of four holes totalling 1,165 m (Figure 2) 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.
- The Betty
property hosts several additional prospective targets in close
proximity to Betty Ford which remain largely untested.
- Additional
results from the Company’s 2023 exploration program will be
announced in due course.
- The Company
will be attending and presenting at the Yukon Geoscience Forum
2023, see details below.
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
along the main breccia, with an interpreted strike length of 500 m
which remains open for expansion. Finally, a second, 5-10m wide
breccia unit measuring at least 150 m in strike also appears to be
present approximately 30-50 m north of the main gold bearing
breccia, remaining open. 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 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 & Interpretation
Assay highlights for the 2023 Betty Ford diamond
drilling program are summarized below in Table 1. Results for holes
BETFD23D012 and hole D013 were announced previously on September 7,
2023, and results for hole 014 were announced on November 8, 2023.
The lower portion of hole 013 (364 m to 503 m), which was testing
for a potential mineralized buried porphyry at depth, did not
return significant gold values.
Hole BETFD23D015 was drilled to test the
character and controls of the high-grade gold mineralization (8.94
g/t Au over 18.29 m) previously intersected in reverse circulation
hole BETFD22RC004, which was the highest-grade mineralization
previously intersected at the target, and which also finished in
mineralization with the last sample of the hole returning 1.00 g/t
Au over 1.54 m at a depth of 100.58 m. Hole BETFD23D015 was drilled
20 m northwest of BETFD22RC004 and was designed to closely undercut
the high-grade intersection to characterize the mineralization and
extend the breccia to the southwest. The hole collared in
metasediments and then entered a moderately oxidized polylithic
breccia, which passed downwards into a transition zone to 53.34 m
depth. Within this oxide and transitional polylithic breccia
domain, the hole intersected 5.04 g/t Au over 20.85 m from 18.65 m
depth. The hole then entered a thick region of sulphide domain
polylithic breccia, intersecting 0.44 g/t Au over 28.55 m, with a
subinterval of 1.38 g/t Au over 6.15 m. This intersection in the
sulphide domain represents the broadest intersection of gold
mineralization encountered to date in this lower sulphide domain
and highlights the additional largely untested deeper potential of
the breccia. A fault truncated the breccia at a depth of 143.3 m,
after which metasediments were intersected to the end of the hole
at 248.75 m. The primary intersection within the oxide and
transitional domain of the polylithic breccia appears to be
associated with an increase in matrix concentration. This is
supported by thin section analysis, where gold at least in part
appears to be hosted directly within the matrix of the breccia.
Correlating the deeper sulphide domain gold
intersections in hole BETFD23D015, BETFD23D012 and BETFD22RC004
suggest the presence of a NW-SE oriented gold bearing structure,
which is largely untested. The true width of this structure remains
unknown.
Current Understanding and Next
Steps
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 breccia is bounded by
metasedimentary rocks to the north and south, and drilling to date
indicates significant gold mineralization is confined to the
breccia. 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 the 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 matrix, along with the presence of at
least two distinct in situ porphyry dykes which cross cut the
breccia unit. Age dating of these dykes is currently underway to
determine potential associations with the nearby Casino 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.
Drilling to date has been carried out over an
approximately 500 m strike length, and significant near-surface
gold has been traced for 175 m along strike and vertically to 75 m,
with several occurrences of gold also encountered at greater depths
in the sulphide domain, which remains open. Future diamond drilling
will consist of a series of holes drilled systematically along and
across the breccia body which will be designed to test the extent
and grade of the main gold zone. The gold bearing sulphide domain
also remains largely untested. The Betty property also hosts
several additional untested prospective targets which have seen
minimal previous exploration and no diamond drilling.
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 |
18.65 |
39.5 |
20.85 |
5.04 |
Including |
31.50 |
33.80 |
2.30 |
13.34 |
And |
36.15 |
38.20 |
2.05 |
11.47 |
|
86.25 |
89.15 |
2.90 |
0.80 |
|
107.85 |
136.40 |
28.55 |
0.44 |
Including |
107.85 |
114.00 |
6.15 |
1.38 |
* 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.**** See Company news release dated
November 8, 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. Samples 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
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