White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF,
FRA: 29W) (the "Company") is pleased to announce Rotary
Air Blast (RAB) drill results on multiple newly identified drill
targets located across its White Gold property, in the prolific
White Gold District, Yukon, Canada. Significant gold mineralization
was encountered on several targets located in the area surrounding
the Golden Saddle & Arc deposits. These targets were discovered
through the Company’s proprietary, data driven exploration strategy
and include the McKinnon East, Ulli’s Ridge, Minneapolis Creek and
several other targets. The 2019 RAB drill program was designed to
drill a limited number of holes per target as a preliminary
evaluation of the target areas with preliminary drilling of the
additional new targets and follow up to be performed in 2020. White
Gold Corp’s 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) included 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 land package
located in the prolific White Gold District, Yukon, Canada.
Highlights Include:
- White Gold Corp’s proprietary, data driven exploration
methodology successfully confirms near surface gold mineralization
across multiple additional newly identified targets on the White
Gold property in the area surrounding its flagship Golden Saddle
& Arc deposits.
- First RAB drilling on newly identified target areas
validated prospectivity of multiple gold zones over a 11km by 5km
trend.
- Significant mineralization was encountered on the
McKinnon East, Ulli’s Ridge and Minneapolis Creek targets all
within a 5km radius of the Golden Saddle deposit to be followed up
in 2020.
- Additional new targets on trend remain untested and
will receive first RAB drilling in 2020.
- Results indicate significant potential for additional
gold discoveries outside of current resource areas as targets have
only had limited and shallow drilling to date.
Images to accompany this news release can be
found
at http://whitegoldcorp.ca/investors/exploration-highlights/.
“We are very encouraged with these positive
drill results in such close proximity to our flagship deposits with
our first RAB drilling on newly identified targets. With only a few
holes drilled on each target in a first-pass, shallow drill
program, this further validates the effectiveness of our
exploration methodologies, the large scale of the mineralized
system and the potential for additional new discoveries on this
underexplored trend which has now been expanded to an area of
roughly 55 km2. We look forward to our first drilling on the
additional new targets identified on this trend and following up on
these results in the upcoming season,” stated David D’Onofrio,
Chief Executive Officer.
Geochemical Trends on White Gold
PropertyExtensive soil sampling and other exploration
activity on the White Gold Property has outlined an area
approximately 11 kilometres north south and 5 kilometres east west
of anomalous geochemistry including the Golden Saddle and Arc
deposit resource areas. Surrounding these resource areas are a
number of gold occurrences, which appears to indicate two different
geochemical signatures. The Golden Saddle, Donahue North and South
and McKinnon East and West occurrences appear to be gold only
systems, while the Arc, Ulli’s Ridge, Ryan’s Surprise, Minneapolis
Creek and Teacher’s occurrences have Au-As-Sb-Mo geochemical
signatures. To date most zones outside of the resource areas have
seen only limited and shallow drilling, and significant potential
for additional gold discoveries remains. Highlights from the 2019
RAB drill program on the White Gold property are detailed
below.
2019 RAB Drilling on White
PropertyA total of 1,344m of RAB drilling over 20 holes
was conducted on the White property in 2019, primarily performing
an initial evaluation on 7 of the newly identified target areas
generated from soil sampling, prospecting and geologic mapping, GT
Probe sampling, trenching, and geophysical data as previously
announced on August 22, 2019. Assay values for the drilling ranged
from trace to 4.68 g/t Au. There is not currently enough
information to determine true thickness of the reported
results.
McKinnon EastThe McKinnon East
target is approximately 5.5km to the southeast of the Golden Saddle
deposit and covers a 1,200m x 250m, northwest trending gold in soil
anomaly with values of up to 1,696ppb Au. RAB drilling followed up
on gold anomalies in soil samples, trench grab samples of up to
68.9 g/t Au, prospecting samples of up to 49.9 g/t Au and historic
drilling. Highlights of the historic drilling is shown below. Most
of these highlights occur within broader low-grade intervals.
Hole ID |
From |
To |
Metres |
Au g/t |
WGMK10D0004 |
51.82 |
56.77 |
4.95 |
1.34 |
WHTMK18RC-001 |
118.87 |
128.02 |
9.15 |
1.24 |
Inc. |
120.4 |
123.44 |
3.04 |
2.36 |
WHTMK18RC-002 |
129.54 |
137.16 |
7.62 |
0.96 |
WHTMK18RC-003 |
82.30 |
86.87 |
4.57 |
2.11 |
WHTMK18RC-004 |
16.76 |
19.81 |
3.05 |
4.35 |
Highlights of the 2019 RAB drilling
include:
WHTMKE19RAB-001 was drilled at
an azimuth of 180° and a dip of -60°. This hole targeted an E-W
trending structure, including heavily oxidized material, seen in
nearby trenching which returned values up to 1.51 g/t Au. The hole
returned 15.24 m of 0.519 g/t Au from surface.
WHTMKE19RAB-002 was drilled at
an azimuth of 180° and a dip of -60°. This hole was targeting a
gold in soil anomaly and the western projection of the E-W
structure tested by WHTMKE19RAB-001 and returned 9.15 m of 0.92 g/t
Au from 24.38m depth including 6.09 m of 1.31 g/t Au.
WHTMKE19RAB-003 was drilled at
an azimuth of 180° and a dip of -60°. The hole targeted an E-W
trending structure as seen in in two 2009 McKinnon East trenches
that tested the geochemical anomaly. The hole returned 53.34m of
0.35 g/t Au from 4.57m depth, including 6.1 m of 1.39 g/t
Au.
Compilation of 2019 and historic drill data on
the McKinnon East target indicate that the zone is open for further
testing, particularly to the east and warrants follow up
exploration activity.
Ulli’s RidgeThe Ulli’s Ridge
target is approximately 2.5 km southwest of the Golden Saddle
deposit and covers a 2,000m x 500m, north-northwest trending zone
of gold in soil anomalies with values up to 1,585ppb Au. RAB
drilling followed up on GT Probe results that included
multi-station GT probe hits of up to 1.625 g/t Au prospecting
samples of up to 8.3 g/t Au and trenching samples of up to 1.5 g/t
Au. Highlights of 3 RC holes that were drilled on a single section
in 2017 are shown below.
Hole ID |
From |
To |
Metres |
Au g/t |
WHTULR17RC-001 |
7.62 |
10.67 |
3.05 |
2.58 |
WHTULR17RC-001 |
67.06 |
68.58 |
1.52 |
6.23 |
WHTULR17RC-002 |
97.54 |
99.06 |
1.52 |
9.7 |
WHTULR17RC-003 |
79.25 |
82.30 |
3.05 |
2.19 |
Highlights of the 2019 RAB drilling
include:
WHTULR19RAB-001 was drilled at
an azimuth of 180° and a dip of -60°. The hole targeted gold
anomalies in soil samples, GT Probe samples and prospecting samples
(up to 8.3 g/t Au) and returned 7.62 m of 1.4 g/t Au from 24.38m
depth including 1.52 m of 3.81 g/t Au.
WHTULR19RAB-003 was drilled at
an azimuth of 235° and a dip of -60°. The hole targeted gold
anomalies in soil samples and trench samples (up to 1.5 g/t Au) and
returned 1.53 m of 4.27 g/t Au from 35.05m depth.
Results suggest that Au at the Ulli’s Ridge
target is associated with As and Mo values in a NNW-SSE trending
system which remains under explored and open in multiple directions
and warrants follow up exploration activity. There is a 300 metre
gap between the limited drill testing that has been carried out and
the northernmost 1,000 metres of the anomaly has seen no drill
testing to date.
Minneapolis CreekThe
Minneapolis Creek target is approximately 3.5 km northwest of the
Golden Saddle deposit and covers a strong 1,000m x 250 northwest
trending gold in soil anomaly with values of up to 1,590ppb Au. RAB
drilling followed up on gold anomalies in soil samples, prospecting
samples with values up to 5.02 g/t Au and multi-station GT Probe
hits with values of up to 1.78 g/t Au, all within an airborne
magnetic high.
WHTMCR19RAB-002 was drilled at
an azimuth of 360° and at a dip of -70°. The hole was targeted
based on gold anomalies in soils samples, trench samples and GT
Probe samples and intersected 3.05 m of 1.52 g/t Au from 0.00m. The
hole only reached 10.67m due to ground conditions and did not reach
its target.
Results to date from Minneapolis Creek suggest
that Au is associated with As in a NW-SE trending system which
remains under explored in both directions and warrants follow up
exploration activity.
QA/QCThe analytical work for
the 2019 drilling program was performed by ALS Canada Ltd. an
internationally recognized analytical services provider, at its
North Vancouver, British Columbia laboratory. Sample preparation
was carried out at its Whitehorse, Yukon facility. All RC chip and
diamond core samples were 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 >10 g/t Au
were reanalyzed using method Au-GRAV21 (30g Fire Assay with
gravimetric finish).
The reported work was 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 21,207 quartz claims across 33
properties covering over 422,730 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 508,800 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(1) of 3.4M 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.
Qualified PersonJodie Gibson,
P.Geo., Technical Advisor, and Andrew Hamilton, P.Geo., Exploration
Manager, for the Company are each a “qualified person” as defined
under National Instrument 43-101 Standards of Disclosure for
Mineral Projects, and each has reviewed and approved the content of
this news release.
Potential quantity and grade is conceptual in
nature. There has been insufficient exploration to define a mineral
resource at the White Gold property beyond the Golden Saddle &
Arc existing resource, and it is uncertain if further exploration
will result in the targets being delineated as a mineral
resource.
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’OnofrioChief Executive OfficerWhite Gold Corp.(647)
930-1880ir@whitegoldcorp.ca
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