Yukon gold developer/explorer White Gold (TSX-V:WGO, OTC:WHGOF, FRA:29W) announced that summer 2020 drilling has expanded the strategically important Ryan’s Surprise Target at White Gold’s 100% owned Golden Saddle Project in the Yukon. White Gold hit significant gold mineralization in six out of six holes at Ryan’s Surprise including some notable high-grade intersections in hole 13 (17.40 g/t gold over 3.47 meters), hole 17 (10.96 g/t gold over 3.76 meters), and the juicy headline interval in hole 18 (8.69 g/t gold over 12.30 meters).
It’s important to note that the Ryan’s Surprise discovery is located roughly two kilometers west of the Golden Saddle Deposit. The 250 meter x 130 meter wide area where White Gold has identified significant high grade gold mineralization to date, which remains open in all directions, is situated on 500+ meter long anomaly on a 11 kilometer by 5 kilometer mineralized trend, which hosts several additional prospective targets:
Drill results to date at Ryan’s Surprise which are some of the highest ever on the property are highly encouraging, and this target warrants further drilling in order to continue expanding the mineralized footprint. With roughly 1,780,000 ounces gold averaging more than 2 grams/tonne at the nearby Golden Saddle, ARC and VG Deposits a resource at Ryan’s Surprise would contribute meaningfully to the economics of any future mine at Golden Saddle.
White Gold is tapping into something potentially very big along this Ryan’s Surprise structural corridor, and it doesn’t require a huge leap to consider the possibility of a global resource at Golden Saddle (including Ryan’s Surprise, VG, and Arc) eventually reaching 3,000,000+ ounces of gold as White Gold steps out along strike and at depth. The Golden Saddle project already ranks amongst Canada’s top exploration-stage gold deposits with respect to grade and resource size and any additional gold ounces at Ryan’s Surprise would further add economic value to the asset.
White Gold CEO David D’Onofrio stated:
“We are very pleased to have encountered additional high-grade mineralization at the Ryan’s Surprise in new zones and extensions to previously encountered mineralization in multiple directions. These results and the close proximity to our established resources provides further evidence of the growth potential of these projects. We are also further encouraged by the prospectively of the other targets in this area which share geological and other characteristics with this recent discovery,”
White Gold has executed an extensive exploration program this year and we can expect a steady stream of results as assays return from the lab over the next few months.
White Gold also completed diamond drilling and RAB drilling at the Titan Target, which delivered more than six meters of 72+ grams/tonne gold in a RAB hole last summer. There will also be extensive trenching results from the Vertigo Discovery and other targets on the JP Ross Property and lots of other exploration on other high priority properties in the company’s vast portfolio.
Speaking with White Gold CEO D’Onofrio yesterday, he made a point to emphasize that one of his objectives will be to begin to monetize some of White Gold’s asset portfolio over the coming year(s). While the Golden Saddle Project is White Gold’s most advanced centerpiece asset, the company’s massive 420,000 hectare property portfolio across the most prospective areas of the Yukon offers shareholders considerable upside potential as assets begin to be monetized.
Considering the relatively advanced nature of Golden Saddle and the current gold price environment, I value White Gold’s ounces in the ground at C$100 per ounce. This means that the current C$130 million market cap is more than supported by the ~1,780,000 ounce gold resources at Golden Saddle, Arc & VG deposits. This leaves the rest of the company’s property portfolio as pure upside for shareholders.
White Gold shares are extremely attractive at C$1.00 per share, and I see 100%-200% of upside over the next 6-12 months as White Gold delivers results from 2020 exploration and continues to advance its most prospective projects while monetizing its tier-1 property portfolio in the Yukon.
Disclosure: Author owns WGO.V shares at the time of publishing and may choose to buy or sell at any time without notice. Author has been compensated for marketing services by White Gold Corp.
DISCLAIMER: The work included in this article is based on current events, technical charts, company news releases, and the author’s opinions. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. This publication contains forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. This publication is provided for informational and entertainment purposes only and is not a recommendation to buy or sell any security. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SEDAR.com for important risk disclosures. It’s your money and your responsibility.
