White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF,
FRA: 29W) (the "Company") is pleased to announce the first
ever drill results on the Titan target, Hen property, Yukon.
Rotary-Air-Blast (“RAB”) drilling followed up on high-grade
prospecting and GT Probe results and intercepted 72.81 g/t Au over
6.09m from 10.67m depth, including 136.36 g/t Au over 3.05m at
12.19m depth within a 32m zone of mineralization, one of the
strongest drill holes ever in the White Gold District, Yukon,
Canada. The Titan is the most recent high-grade near surface gold
discovery generated by the Company’s methodological data driven
exploration strategy. The Titan is located on the road-accessible
Hen property and consists of a 650m x 650m gold in soil anomaly
with multiple other prospective targets that show similar
geophysical characteristics to the mineralization encountered in
these drill holes. The Company’s previous exploration results on
the Titan include grab samples of 605 g/t Au, 497 g/t Au, and 113
g/t Au and soil samples of up to 113 g/t Au, being the highest soil
value ever recorded within the Company’s White Gold District
database of 400,000+ soil samples. 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) includes 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:
- First ever drilling on the Titan intersected 72.81 g/t
Au over 6.09m from 10.67m depth, including 136.36 g/t Au over
3.05m, within a 32m zone of mineralization and remains open in all
directions.
- Previous Titan exploration results include grab samples
of 605 g/t Au, 497 g/t Au, and 113 g/t Au with
fine grained visible gold observed, and soil
samples of up to 113 g/t Au, the highest ever in the Company’s
400,000+ soil sample database.
- The Titan target hosts multiple other untested targets
across a 650m x 650m magnetic anomaly with similar geophysical
characteristics to those of the drilled
mineralization.
- Titan is located on the road-accessible Hen property,
contiguous to the JP Ross property, less than 15km from the Vertigo
discovery and 25km from the Golden Saddle & Arc
deposits.
- Additional regional exploration activity & drill
results from the White Gold and JP Ross 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 about the drill results
confirming the discovery of high-grade, near-surface gold
mineralization. These results represent the first pass drilling on
the new Titan discovery, and are another successful demonstration
of our methodical data-based exploration strategy, including our
step by step approach of a regional soil program, ground
geophysical surveys, GT probing, trenching, geological mapping and
other activities. The process led us to directly target this unique
magnetite rich mineralization, and again demonstrate that the White
Gold District is very prospective ground for various styles of gold
mineralization. Follow up activity on the property will be very
interesting as we have already identified multiple additional
targets within 400 meters of the Titan discovery,” stated Shawn
Ryan, Chief Technical Advisor.
Titan Discovery, Hen
PropertyThe Titan discovery is located on the
road-accessible Hen property, contiguous to the JP Ross property,
approximately 15km north west of the Vertigo discovery and
approximately 25km north east of the Golden Saddle & Arc
deposits on the White Gold property. The Hen property is situated
within a prolific placer mining camp where abundant, coarse placer
gold has been recovered from creek gravels on North Henderson Creek
immediately east of the Titan.
After soil samples collected on the target
returned the highest grade ever noted in the Company’s soil
database with results up to 113 g/t Au, announced earlier this
year, prospecting samples were collected across the Titan.
Mineralized material consisted of strongly sheared and oxidized
mafic rocks with disseminated to massive magnetite, fine grained
visible gold and strong calc-silicate alteration in the surrounding
alteration halo. Assays for the samples returned 78.3 g/t Au, 113
g/t Au, 497 g/t Au, and 605 g/t Au. All are associated with
elevated Bi, Cu (up to 0.17%), Fe (up to 36.1%), P (up to >1%)
and U.
These high-grade drill results, prospecting
samples, soil samples and other positive exploration results are
particularly significant as they are the first occurrence of
mineralization ever discovered on the Hen property, which has
previously seen only limited reconnaissance-stage ridge and spur
soil sampling and no drilling. The Company continues to plan and
perform follow-up work to obtain an initial estimate of the
potential size, scale and number of mineralized gold structures.
Based on these strong prospecting, GT Probe and soil results the
RAB drilling on Titan was fast tracked in order to complete a
preliminary program this field season and gain insight on the
target to plan for a more comprehensive program in 2020.
Titan RAB Drill ResultsThree
RAB drill holes were placed on the Titan totalling 220.97m as an
initial drill test and follow up to previously announced high-grade
soil, GT Probe, and rock grab sample results. The first two holes
were drilled to the north of the discovery pit and oriented due
west at a dip of -60o beneath a northly trending magnetic high
feature which is interpreted to be associated with gold
mineralization on the target. The third was drilled immediately
south of the discovery pit and drilled vertically. Individual
assays for the drilling ranged from trace to 226 g/t Au. The
individual drill sites will be discussed below with their location
referenced to the discovery pit.
HENTTN19RAB-01Hole 1 was
collared 20m to the east-northeast of the initial discovery pit and
cut the sheared contact that hosts mineralization and was drilled
beneath the plunging shoot where mineralization occurs.
HENTTN19RAB-02Hole 2 was
collared 33m to the north of Hole 1 and approximately 45m
north-east of the discovery pit. The hole returned a significant
zone of mineralization consisting of 72.81 g/t Au over 6.09m from
10.67m depth, including 136.36 g/t Au over 3.05m from 12.19m depth.
The high-grade interval consisted of two 1.52m samples returning
47.3 g/t Au and 226 g/t Au.
The high-grade interval occurs at the top of a
broader interval that returned 32m of 14.82 g/t Au, and
consistently anomalous mineralization (>0.1 g/t Au) is noted
further down the hole to a depth of 83.82m. It is currently unclear
if mineralization noted below the high-grade interval is in-situ or
potentially cross-contaminated, however, the assays do correspond
with elevated resistivity and magnetic susceptibility measurements
to approximately 40m depth indicating the mineralization may be in
place. Completed assay results for the hole is included in the
table below.
HENTTN19RAB-03Hole 3 was
located at the southern end of the discovery pit and drilled
vertically, with the purpose of testing the near surface
mineralization observed in the pit and was drilled to 19.81m depth,
with 1.52m of 2.24 g/t Au returned from surface. The hole was
drilled immediately south of where the mineralized shoot projects
to surface and appears to have only clipped the mineralization at
the top of the hole.
Significant drill results are detailed in the
table below. There is not enough information to assess true
thickness of mineralization intersected by the drilling at this
time.
Table 1: Summary Table of Titan RAB
Drilling Results
Hole ID |
From (m) |
To (m) |
Length (m) |
Au (g/t) |
HENTTN19RAB-002 |
10.67 |
42.67 |
32.00 |
14.82 |
incl. |
10.67 |
16.76 |
6.09 |
72.81 |
incl. |
12.19 |
15.24 |
3.05 |
136.36 |
HENTTN19RAB-003 |
0.00 |
1.52 |
1.52 |
2.44 |
Preliminary InterpretationBased
on currently available data, including surface and drill hole
geochemistry, geophysics, and structural measurements from the
discovery pit and optical downhole televiewer surveys on the RAB
holes, gold mineralization on the Titan is currently interpreted to
occur along discrete high-grade, shallowly north plunging, shoot(s)
along a NW striking, NE dipping shear contact between an upper
mafic to ultramafic unit and lower metasedimentary units.
The mineralization has a strong relationship
with elevated Bi-Cu-Fe-P+/-U and is associated with strong
shearing, semi-massive to massive magnetite, calc-silicate
alteration, and fine-grained visible gold within the mafic to
ultramafic units.
One shoot has been initially drill tested on the
Titan and based on the current interpretation it is exceptionally
high-grade, near-surface, and open in all directions. Additionally,
the mineralization has a strong association with magnetite and
associated, northly trending, magnetic high in geophysical surveys
over the target. Multiple additional northly trending magnetic
highs are noted across the Titan and may represent additional,
untested, trends of mineralization.
Hole HENTTN19RAB-001 cut the sheared contact
that hosts mineralization, and was drilled beneath the plunging
shoot where mineralization occurs. Additionally, hole
HENTTN19RAB-003 was drilled immediately south of where the
mineralized shoot projects to surface and only clipped the
mineralization at the top of the hole. This is visualized in a
long-section across the Titan, and is still early to determine on
what is controlling the interpreted plunge and localization of the
mineralization.
Table 2: Complete Assay Results for
HENTTN19RAB-02
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
0.00 |
1.52 |
1.52 |
0.022 |
1.52 |
3.05 |
1.52 |
0.031 |
3.05 |
4.57 |
1.52 |
0.268 |
4.57 |
6.10 |
1.52 |
0.122 |
6.10 |
7.62 |
1.52 |
0.185 |
7.62 |
9.14 |
1.52 |
0.20 |
9.14 |
10.67 |
1.52 |
0.24 |
10.67 |
12.19 |
1.52 |
9.54 |
12.19 |
13.72 |
1.52 |
47.30 |
13.72 |
15.24 |
1.52 |
226.00 |
15.24 |
16.76 |
1.52 |
8.57 |
16.76 |
18.29 |
1.52 |
0.702 |
18.29 |
19.81 |
1.52 |
0.983 |
19.81 |
21.34 |
1.52 |
3.70 |
21.34 |
22.86 |
1.52 |
1.46 |
22.86 |
24.38 |
1.52 |
1.29 |
24.38 |
25.91 |
1.52 |
0.886 |
25.91 |
27.43 |
1.52 |
1.255 |
27.43 |
28.96 |
1.52 |
0.531 |
28.96 |
30.48 |
1.52 |
1.14 |
30.48 |
32.00 |
1.52 |
0.678 |
32.00 |
33.53 |
1.52 |
2.88 |
33.53 |
35.05 |
1.52 |
0.322 |
35.05 |
36.58 |
1.52 |
0.374 |
36.58 |
38.10 |
1.52 |
0.342 |
38.10 |
39.62 |
1.52 |
0.369 |
39.62 |
41.15 |
1.52 |
0.369 |
41.15 |
42.67 |
1.52 |
2.56 |
42.67 |
44.20 |
1.52 |
0.333 |
44.20 |
45.72 |
1.52 |
0.382 |
45.72 |
47.24 |
1.52 |
0.133 |
47.24 |
48.77 |
1.52 |
0.714 |
48.77 |
50.29 |
1.52 |
0.294 |
50.29 |
51.82 |
1.52 |
0.149 |
51.82 |
53.34 |
1.52 |
0.257 |
53.34 |
54.86 |
1.52 |
0.217 |
54.86 |
56.39 |
1.52 |
0.288 |
56.39 |
57.91 |
1.52 |
0.39 |
57.91 |
59.44 |
1.52 |
0.133 |
59.44 |
60.96 |
1.52 |
0.08 |
60.96 |
62.48 |
1.52 |
0.252 |
62.48 |
64.01 |
1.52 |
0.343 |
64.01 |
65.53 |
1.52 |
0.358 |
65.53 |
67.06 |
1.52 |
0.09 |
67.06 |
68.58 |
1.52 |
0.265 |
68.58 |
70.10 |
1.52 |
0.245 |
70.10 |
71.63 |
1.52 |
0.167 |
71.63 |
73.15 |
1.52 |
0.079 |
73.15 |
74.68 |
1.52 |
0.468 |
74.68 |
76.20 |
1.52 |
0.174 |
76.20 |
77.72 |
1.52 |
0.05 |
77.72 |
79.25 |
1.52 |
0.062 |
79.25 |
80.77 |
1.52 |
0.11 |
80.77 |
82.30 |
1.52 |
0.048 |
82.30 |
83.82 |
1.52 |
0.457 |
83.82 |
85.34 |
1.52 |
0.009 |
85.34 |
86.87 |
1.52 |
0.03 |
86.87 |
88.39 |
1.52 |
0.0025 |
88.39 |
89.92 |
1.52 |
0.022 |
89.92 |
91.44 |
1.52 |
0.007 |
91.44 |
92.96 |
1.52 |
0.087 |
92.96 |
94.49 |
1.52 |
0.05 |
94.49 |
96.01 |
1.52 |
0.062 |
96.01 |
97.54 |
1.52 |
0.05 |
97.54 |
99.06 |
1.52 |
0.045 |
99.06 |
100.58 |
1.52 |
0.027 |
The Company also announces that Andrew Hamilton
P.Geo, Senior Geologist with the Company, has been promoted to
Exploration Manager. Jodie Gibson P.Geo will step down as VP
Exploration and continue to support the Company as a Technical
Advisor.
QA/QCThe analytical work for
the 2019 drilling program will be performed by ALS Canada Ltd. an
internationally recognized analytical services provider, at its
Vancouver, British Columbia laboratory. Sample preparation was
carried out at its Whitehorse, Yukon facility. All RC chip and
diamond core samples will be 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
will be reanalyzed using method Au-GRAV21 (30g Fire Assay with
gravimetric finish).
The reported work will be 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 22,040 quartz claims across 35
properties covering over 439,000 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 508,700 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., Vice President of Exploration for the Company is a
“qualified person” as defined under National Instrument 43-101
Standards of Disclosure for 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:; 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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