TORONTO, Jan. 09, 2020 (GLOBE NEWSWIRE) -- 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 on the road accessible JP Ross property, in the prolific White Gold District, Yukon, Canada. Generated through the Company’s methodical data driven exploration strategy, the Company’s first ever drilling on these targets was performed as follow up to the previously announced results from 2019 exploration including detailed soil sampling, GT Probe, trenching, geophysical and other prospecting activities. High-grade gold was intercepted of 5 newly identified drill targets located within close proximity to the Company’s Vertigo and Titan discoveries. These targets have unique geochemical signatures and distinct geologic anomalies and include the Stage Fright, North Frenzy, Sabotage, Vertigo and several others. 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.
- White Gold Corp’s data driven exploration methodology successfully confirms gold mineralization across multiple additional target areas on JP Ross property with first drilling by White Gold Corp.
- JP Ross targets drilled are all associated with regional scale structures, and indicate strong potential for additional discoveries on trend, further enhancing the Company’s exploration pipeline.
- Stage Fright target drill hole JPRSF19RAB-005 intersected 2.31 g/t Au over 16.76m from 30.48m depth, including 5.44 g/t Au over 4.57m.
- North Frenzy target drill hole JPRNF19RAB-002 intersected 5.45 g/t Au over 4.57m from 13.72m depth, including 12.95 g/t Au over 1.52m.
- Sabotage target drill hole JPRSAB19RAB-011 intersected 3.42 g/t Au over 7.62m from 6.1m depth.
- Lifeboat target drill hole JPRLB19RAB-001 intersected 5.41 g/t Au over 3.05m of Au from 3.05m depth.
- Vertigo target drill hole JPRVER19RAB-022 intersected 6.33 g/t Au over 3.05m from 62.48m depth including 11.5 g/t Au over 1.53m representing a newly discovered East-West structure located 150m South of the main Vertigo target.
- Drill results further extend and validate multiple recognised gold trends over a 15 km by 15 km area, including the Vertigo, Stage Fright, Sabotage, Frenzy and Lifeboat targets, as well as additional emerging targets on underexplored portions of the property, located in a prolific placer mining camp.
- Additional regional drill results from the other properties to be released in due course.
Images to accompany this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
“We are very excited by these new discoveries in such close proximity to the Vertigo and Titan in our initial drill campaign on these targets. These drill results continue to validate the abundance of high-grade mineralization on the road accessible JP Ross Property, and the regional scale of the mineralized system. Furthermore, the quick and accurate delineation of these anomalies through our disciplined and systematic exploration methodologies including detailed soil sampling, GT probe, trench, prospecting and geophysical evaluation is a testament to our scientific and data driven approach and provides additional confidence in the prospectivity for our follow up exploration on these and our many other regional targets,” stated Shawn Ryan, Chief Technical Officer.
2019 RAB Drilling on JP Ross Property
A total of 1,644m of RAB drilling over 27 shallow holes was conducted on the JP Ross property in 2019, evaluating 8 target areas with a few initial holes drilled on each target. The targets were generated from soil sampling, prospecting and geologic mapping, GT Probe sampling, trenching, and geophysical data. Assay values for the drilling ranged from trace to 12.95 g/t Au. There is not currently enough information to determine true thickness of the reported results. Notable mineralization was encountered in the majority of the holes with highlights from the RAB drill program detailed below.
The Stage Fright is located 9.2km to the NW of Vertigo and covers multiple gold in soil anomalies over a 2,700m x 400m, NE trending zone. RAB drilling on the target followed up on GT Probe and prospecting results that included multi-station GT Probe hits >1 g/t Au and prospecting samples up to 94.2 g/t Au associated with E-W and NE trending structures. Highlights of the RAB drilling include:
JPRSF19RAB-005 was drilled at an azimuth of 130° and a dip of 50°. The hole targeted a NNW trending structure highlighted by gold anomalies in soil samples, GT probe samples and prospecting samples (up to 80.6 g/t Au) and returned 16.76m of 2.31 g/t Au from 30.48m depth including 4.57m of 5.44 g/t Au.
JPRSF19RAB-004 was drilled 250m to the NW of JPRSFRAB19-005 at an azimuth of 180° and dip of 50°. The hole targeted anomalous gold in soils, GT probe samples, and prospecting samples (up to 94.4 g/t Au); intersecting 13.72m of 0.2 g/t Au from 67.06m depth, ending in mineralization.
Mineralization in both holes is associated with a NE-SW trending zone of anomalous soils which remains underexplored and is open in both directions.
The Sabotage is located approximately 7.8km NW of the Vertigo and covers an area of multiple gold in soil anomalies over a 5,800m x 3,600m NE trending area. RAB drilling focused on the central portion of the target and followed up on soil, prospecting, GT Probe, and trenching on the target. Highlights of the RAB drilling include:
JPRSAB19RAB-011 was drilled at an azimuth of 025° and dip of 60°. The hole targeted anomalous Au in soil samples, prospecting samples and several anomalous trench samples showing grades up 14.4 g/t Au and 31.1 g/t Ag. The hole returned 7.62 m of 3.42 g/t Au from 6.1m depth.
Results suggest that Au Is associated with increased Pb, As and Ag values in a NW-SE trending system which remains under explored and open in multiple directions.
The North and South Frenzy areas are located 9.2km and 7.6km N of the Vertigo, respectively, and cover multiple soil anomalies over a 3,400m x 2,700m N-S area. Individual soil assays range from trace to 2,964 ppb Au. Anomalous zones at the north end of the area (North Frenzy) generally trend N-S and have a strong associated with anomalous As, Ag, Bi, & Pb. The best-defined anomaly consists of a N-S trending zone of >100 ppb Au, traceable for 950m. Anomalous zones on the southern end of the area (South Frenzy) appear to be associated with NW and NE oriented structural corridors and are typically gold only anomalies. The most significant RAB results were returned from the North Frenzy area and highlights include:
JPRNF19RAB-002 was drilled at an azimuth of 270° and a dip of 60°. The hole targeted a North-South trending structure traceable for over 1,100m along strike; identified in both air and ground geophysical surveys; soil sampling GT probe sampling, prospecting, and trenching. The hole returned 4.57m of 5.45 g/t Au from 13.72m depth; including 1.52m of 12.95 g/t Au.
Drilling results indicate the mineralization is related to a N-S striking, steeply east dipping, structural zone associated with quartz-sericitie alteration, brecciation, minor quartz veining and anomalous As-Pb. The mineralization is open down dip and along strike in both directions.
The Lifeboat target is located 7km NW of Vertigo between the Sabotage and Frenzy target areas. It consists of a 450m x 500m gold in soil anomaly that lies on the intersection of NE and E-W oriented structural trends defined by geophysical and LiDAR surveys of the area. RAB drilling targeted discreet structural trends on the target highlighted by soil, GT Probe, trench, and geophysical data. Highlights from the drilling include:
JPRLB19RAB-001 was drilled at an azimuth of 180° and dip of -50°. The hole targeted heavily altered, oxidized and mineralized trench samples associated with 400m, E-W trending, gold in soil anomaly. The hole returned 3.05m of 5.41 g/t Au from 3.05m depth.
The system remains underexplored and open for additional drilling to the both the east and west.
RAB holes were drilled on the Vertigo target stepping out 900m to the West from the previously explored footprint and up to 400m to the SE of the heart of the anomaly. Mineralization at the Vertigo is hosted within a network of WNW trending, moderate to steeply south dipping, shallow structures that are subparallel to topography. Individual structures are typically up to 3m and host high-grade mineralization associated with quartz veining, brecciation, and strong sericite-quartz alteration with local fine-grained visible gold, disseminated to locally massive arsenopyrite, galena, chalcopyrite and pyrite.
The high-grade intervals pinch and swell both laterally and vertically with the strongest mineralization occurring where the structures cross lithologic contacts; particularly fine-grained amphibolite and felsic gneiss. The high-grade mineralization occurs within broader envelopes of lower grade mineralization (<0.1 g/t Au) that define a SE plunge to the overall system. Highlights from the drilling include:
JPRVER19RAB-022 was drilled at an azimuth of 020° and a dip of 60°. Drilling targeted a secondary East-West structure located 150m South of the main Vertigo target identified by GroundMag geophysics and highlighted by gold anomalies in soil samples, prospecting samples. Drilling successfully returned 3.05m of 6.33 g/t Au from 62.48m depth including 1.53m of 11.5 g/t Au representing a newly discovered high grade structure on the Vertigo Target.
JPRVER19RAB-023, JPRVER19RAB-024, JPRVER19RAB-025 stepped out approximately 400m southeast of the main Vertigo target. Drilling targeted additional structures highlighted by Ground Mag geophysics, anomalous gold in soil samples and prospecting samples. All three holes did not reach target depth due to ground conditions, but all ended in alteration and gold mineralization, leaving this area open for extension.
The system also currently appears to have been cut by at least 3, late, NE oriented structures which have locally truncated and offset the mineralization.
The 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.
Jodie 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 JP Ross property, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Cautionary Note Regarding Forward Looking Information
This 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.
Chief Executive Officer
White Gold Corp.