White Gold Extends Historical Arc Deposit Strike Length by 250m and Continues to Extend and Define the Golden Saddle Footwall Zone Beyond Historical Resource Limits
November 20, 2017
White Gold Corp. (TSX.V: WGO) (the "Company") is pleased to announce additional results from reverse circulation (“RC”) holes completed along trend with the historical Arc deposit (the “Arc deposit”)(1) and the historical Golden Saddle deposit (the "Golden Saddle deposit" or “Golden Saddle resource”)(1) located on the White Gold Property, Yukon. The results reported herein further define a significant extension of the Arc deposit 250m along strike and also extend the Golden Saddle Footwall Zone along strike and towards surface. Additional drill results are pending from the Golden Saddle and Arc deposits as well as the newly defined Golden Saddle East and Ulli’s targets and will be released in due course. Detailed maps related to the drilling and additional information can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
(1) See information regarding historical resources/deposits below
- Strike length of gold mineralization at Arc deposit extended by 29% (250m) along trend to the west from previous limit of historic drilling.
- Golden Saddle Footwall Zone further defined along a 300m mineralized zone with mineralization also being further extended 50m along strike length.
- Golden Saddle RC drilling continued to validate historical drilling within the historical Golden Saddle resource area with WHTGS17RC-010 intersecting 10.67m of 10.09 g/t Au within a broader intercept of 28.96m of 3.99g/t Au from 59.44m depth and WHTGS17RC-013 intersecting 6.1m of 9.52 g/t Au within a broader intercept 13.12m of 7.47 g/t Au from 68.58m depth.
Arc Exploration Update
The Arc deposit occurs adjacent to the Golden Saddle deposit, approximately 400m to the south. Historic drilling on the Arc was limited and widely spaced (typically >100m between drill collars), but defined an east-west trending, north dipping zone of mineralization over 850m of strike and extending 400m down dip. Historic estimates of inferred mineral resources on the Arc include 170,470 ounces contained within 4.37Mt at a grade of 1.21 g/t Au(1). In addition to the continuation of the mineralization along trend, there appears to be strong potential for subparallel zones of mineralization below the historic resource area based on historic drilling and revised geologic interpretation of the Arc deposit.
WHTARR17RC-001 to 003 RC holes were drilled as shallow reconnaissance holes to approximately 100m depth to evaluate for near surface continuation of Arc Zone mineralization to the west and to potentially identify near surface projects of subparallel zones of mineralization to the Arc. The holes were placed as a fence along a north-south oriented ridge approximately 250m west of the Arc deposit area with collar locations approximately 100m apart and all three holes directed at an azimuth of 180o and dip of -60o. RC hole WHTARR17RC-002 successfully intercepted 1.52 g/t Au over 12.19m from 79.25m depth with the hole ending in mineralization at 91.44m. This intersection corresponds to the projection of the Arc Zone and extends mineralization approximately 250m to the west. True thickness is estimated to be between 65 - 95% of the reported intercepts. Assay results range from trace to 4.19g/t Au. Significant results are detailed in the table below.
Jodie Gibson, VP, Exploration of the Company commented: “The results of the 2017 drill program received to date confirm the potential to significantly expand both the Golden Saddle and Arc deposits, and I look forward to receiving the additional drill results from the Arc as well as initial drill results from the Ulli’s and Golden Saddle East targets. Furthermore, new geologic mapping and geophysical interpretation on the property indicate the potential for additional sub-parallel zones of mineralization that will be the focus of future exploration programs on the property as well as the newly identified and/or other undrilled targets.”
|Arc - 2017 RC Drill Holes|
|Hole ID||From (m)||To (m)||Interval (m)||Au (g/t)|
|*Hole Ended in Mineralization|
Golden Saddle Exploration Update
RC Holes WHTGS17RC-014 & 015 were drilled in close proximity to historic diamond hole WGGS10D0121(2) (“Hole 121”) and infill a 150m gap in the footwall zone between Hole 121 and hole WGGS10D0138(2). The holes are on section with previously reported diamond hole WHTGS17DD-0171(3) and together define 300m of mineralization along the Footwall Zone that is a 50m step-out beyond the limits of historic resource estimates.
RC hole WHTGS17RC-014 was drilled at an azimuth of 160o, dip of -60, and to a depth of 186m, and intercepted a 12.19m zone averaging 1.83 g/t Au from 128.02m depth. This intercept corresponds to the Footwall Zone and extends mineralization 95m up-dip from Hole 121.
RC hole WHTGS17RC-015 was drilled from the same site as WHTGS17RC-014 at an azimuth of 160o, dip of -77, and to a depth of 189m. The hole returned an upper intercept of 4.57m averaging 1.22 g/t Au from 21.34m depth and a lower intercept of 21.34m averaging 0.95 g/t Au from 135.64m depth; including 10.67m of 1.59 g/t Au from 138.68m depth. The lower intercept corresponds to the Footwall Zone and extends mineralization 50m up-dip from Hole 121.
RC holes WHTGS17RC-010 and 013 were drilled in close proximity to historic diamond holes at a dip of -90 for QA/QC purposes. Both intercepts were equivalent or slightly higher grade than the historic diamond holes. WHTGS17RC-010 was drilled in close proximity to historic diamond hole WD-009(4) for QA/QC purposes and returned 3.99 g/t Au over 28.96m from 59.44m depth; including 10.09 g/t Au over 10.67m from 62.48m depth. WHTGS17RC-013 was drilled in close proximity to historic diamond hole WD-013(4) for QA/QC purposes and returned 7.47 g/t Au over 13.12m from 68.58m depth; including 21.5 g/t Au over 1.52m from 68.58m depth and 9.52 g/t Au over 6.096m from 74.68m depth.
True thickness is estimated to be between 65 - 95% of the reported intercepts. Assay results range from trace to 21.5g/t Au. Significant results are detailed in the table below.
(2) Reported in the Independent Technical Report for the White Gold Project, Dawson Range, Yukon, Canada by Gilles Arseneau, P.Geo. dated Sept. 15th, 2017 and is available on SEDAR
(3) Reported in the Company’s news release dated Nov. 6, 2017, and is available on SEDAR
(4) Reported in Underworld Resources Inc. (“UW”) news release UW2008 – NR#6 dated Aug. 6, 2008 and is available on SEDAR
|Golden Saddle - 2017 RC Drill Holes|
|Hole ID||From (m)||To (m)||Interval (m)||Au (g/t)|
The 2017 drilling campaign on the White Gold Property represents the first drilling program on the property since the previous operator, Kinross Gold Corp. A total of 4,432m over 31 RC holes and 1,295m over 4 diamond holes have been completed by the Company in 2017 on the White Gold property. This includes 4,151m of drilling on the Golden Saddle deposit with additional drilling on the Arc deposit and newly identified Golden Saddle East and Ulli’s target areas. Complete results have been reported for 18 of the RC holes and 4 diamond drill holes to date. Assays for the additional holes will be reported in due course.
(1) Information Regarding Historical Resources/Deposits
All historical scientific and technical information relating to the White Gold Properties is based on and derived from the 43-101 report titled "White Gold Property Dawson Range Yukon, Canada" dated March 3, 2010, prepared by Lars Weiershäuser, P.Geo, Marek Nowak, P.Eng and Wayne Barnett, Pr.Sci.Nat. of SRK Consulting (Canada) Inc.) (the “Technical Report”) available on Sedar and other information available to the Company as referenced herein. The property was historically explored by Underworld Resources from 2007 - 2009 and included the discovery of the Golden Saddle and Arc deposits. In 2010, Underworld reported a resource estimate of 1,004,570 ounces contained in 9.80 Mt at a grade of 3.19 g/t Au in an Indicated category, with an additional 407,410 ounces contained in 5.02 Mt at a grade of 2.5 g/t Au in an Inferred category for the Golden Saddle deposit. At the Arc deposit, the initial resource included 170,470 ounces contained within 4.37 Mt at a grade of 1.21 g/t Au in the inferred category (reported in Underworld Resources New Release UW2010-NR#2 dated January 19, 2010 and the Technical Report. Kinross purchased Underworld shortly after the initial resource was released in 2010 and explored the property from 2010 - 2012. In 2013, Kinross released the results of a resource estimate for the Golden Saddle deposit and reported a resource of 840,000 ounces within 9.79 Mt at a grade of 2.67 g/t Au in an Indicated category, with an additional 125,000 ounces within 2.17 Mt at a grade of 1.8 g/t Au in an Inferred category (reported in Kinross Gold Corp.'s 2016 Mineral Reserves and Resource Statement). Both Underworld's and Kinross' resource estimates are considered historical estimates and the Company is not treating them as current mineral resources. Although the Company believes these sources to be generally reliable, such information is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other inherent limitations and uncertainties. In addition to the Golden Saddle and Arc deposits, there are numerous other targets known on the property that warrant follow-up work (for more information see Yukon Assessment Report #'s 095338, 096206, & 096207). The information contained herein is subject to all of the assumptions, qualifications and procedures set out in the Technical Report and reference should be made to the full details of the Technical Report which may be obtained from the Company by contacting email@example.com. Disclosure of the historical estimates in this news release is derived from the Technical Report and other information as set forth above previous press releases of the company as available on Sedar and has been judged to be relevant and therefore suitable for disclosure, however should not be relied upon. There are numerous uncertainties inherent in the historical estimates, which are subject to all of the assumptions, parameters and methods used to prepare such historical estimates and reference is made to the full text of the Technical Report with respect thereto. The historic estimates of mineral resources were estimated in conformity with generally accepted CIM “Estimation of Mineral Resource and Mineral Reserve Best Practices” Guidelines. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There are no other recent estimates or data are available to the Company as at the date of this news release and a detailed exploration program is required to be conducted by the Company in order to verify or treat the historical estimate as a current mineral resource. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves and the Company is not treating the historical estimate as current mineral resources.
The Company encourages individuals interested in the Company to visit its website (www.whitegoldcorp.ca) to further understand the size and scope of the Company’s projects in the White Gold District.
The analytical work for the 2017 program has been performed by Bureau Veritas Commodities 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 soil samples were using procedure SS80 (dry at 60 C and sieve 100g at -80 mesh) and analyzed by method AQ201 (aqua regia digestion and ICP-MS analysis). All rock, GT Probe, RAB, RC, and diamond core samples were prepared using procedure PRP70-250 (crush, split and pulverize 250 g to 200 mesh) and analyzed by method FA430 (30g fire assay with AAS finish) and AQ200 (0.5g, aqua regia digestion and ICP-MS analysis). Samples containing >10g/t Au were reanalyzed using method FA530 (30g Fire Assay with gravimetric finish). Metallic-screen analysis may also be utilized if coarse gold mineralization is encounter (FS600).
Jodie Gibson, PGeo, VP, Exploration of the Company is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), and 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 on any of the Company’s properties to date, and it is uncertain if further exploration will result in any such target being delineated as a mineral resource.
The reported work was completed using industry standard procedures, including a quality assurance/quality control (QA/QC) program consisting of the insertion of certified standards, blanks, and field duplicates into the sample stream. The qualified person detected no significant QA/QC issues during review of the data.
About White Gold Corp.
The Company owns a portfolio of 19,438 quartz claims across 30 properties covering over 390,000 hectares representing approximately 40% of the Yukon’s White Gold district. Preliminary exploration work has produced several prospective targets. The claim packages are bordered by sizable gold discoveries including the Coffee project owned by Goldcorp Inc., Western Copper and Gold Corporation’s Casino project, and the Golden Saddle and Arc deposits acquired by the Company in June 2017 from Kinross Gold Corp. The Company has outlined an aggressive exploration plan to further explore its properties. For more information visit www.whitegoldcorp.ca.
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", "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, to: the anticipated benefits to the Company and its shareholders respecting the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the White Gold properties; future growth potential of the Company, including whether any mineral resource will be established in accordance with NI 43-101 at any of the Company’s properties; exploration results; and future exploration plans.
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; failure to identify mineral resources; 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 White Gold properties and the Company’s other 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; 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 under the heading "Risks and Uncertainties" in the Company’s most recently filed management’s discussion and analysis. 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 any obligations 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.