White Gold Corp. Identifies New District Scale High Grade Gold Trends on and Contiguous to Vertigo Discovery, JP Ross Property
July 11, 2019
White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the "Company") is pleased to announce it has identified multiple new high-grade gold mineralization trends across its JP Ross property further adding to the Company’s pipeline of regional gold discoveries. The new trends were identified on the Stage Fright, Sabotage, Topaz, and Vertigo targets, all located within 10 km of the Vertigo Discovery. Several additional targets have also been identified on the JP Ross and will be tested in due course. Highlights to date include multiple bedrock samples from trace to 4.65 g/t Au and multiple surface samples from trace to 94.4 g/t Au. These newly discovered mineralized zones were identified using the innovative GT Probe, a proprietary device enabling fast and cost-efficient direct bedrock sampling. These are the first results from the Company’s $13 million fully funded 2019 exploration program, backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC). The 2019 program includes 17,000 metres of diamond drilling which is underway on the Vertigo target (JP Ross property), Golden Saddle & Arc deposits (White Gold property) and QV property, Yukon Canada.
- GT Probe (top of bedrock) sampling yielded results ranging from trace to 4.65 g/t Au, including samples returning 4.65 g/t Au, 4.64 g/t Au and 4.57 g/t Au. 17 samples returned grades of above 1 g/t Au, with anomalous samples clustered in multi-station hits, up to 20m in width, defining multiple zones of mineralization.
- Surface sampling yielded results from trace to 94.4 g/t Au. 11 samples from the area returned >1 g/t Au including highlights of 94.4 g/t, 80.6 g/t, 23.3 g/t, 9.11 g/t, 6.09 g/t & 5.6 g/t Au. All results were associated with elevated Ag (up to 226 g/t), As, Bi, & Pb (up to 2.06%).
- The high-grade GT Probe results on the JP Ross property further support the district scale mineralization modeling produced by the Company through prior soil sampling, Lidar and IP-Resistivity testing. Follow up work for these gold trends will include prospecting and RAB drilling.
- 17,000 metres of diamond drilling is underway on the Vertigo target (JP Ross property) Golden Saddle & Arc deposit (White Gold property) and QV property, with assays 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 newly discovered trends confirming additional near-surface high-grade gold mineralization on our JP Ross property in close proximity and with many similarities to our Vertigo discovery. The results also further validate the district-scale opportunity across our unique portfolio of assets and demonstrate the effectiveness of our systematic and data driven exploration methodologies,” stated David D’Onofrio, Chief Executive Officer. “The White Gold region of the Yukon escaped glaciation, unlike many regions globally, allowing us to utilize more efficient exploration techniques, including soil sampling and our proprietary GT Probe to sample the bedrock. With the success so far in our 2019 program, we continue to be increasingly optimistic that our propriety exploration methodologies will continue to produce more discoveries on our 1 million+ acre land package which represents over 40% of the prolific and under explored White Gold District.”
GT Probe Results
The GT Probe is a track mounted device designed to drive a cased hole through the soil profile to the bedrock interface with samples collected from the final 30cm of the hole and analyzed for gold and other pathfinder elements. The depth of each hole to bedrock was up to 2m with holes located on 2-5m intervals on lines designed to cut across defined soil anomalies. The GT Probe is used as a cost-effective intermediate step between soil sampling and drilling, providing similar data to traditional trenching but with minimal environment impact and more representative sampling. The latest high-grade GT Probe results on the JP Ross property further support the district scale mineralization modeling produced by the Company through prior soil sampling, Lidar and IP-Resistivity testing.
The results to date on the JP Ross further expand on the high-grade discovery made at the Vertigo target in 2018 which returned drill results including 31.35 g/t Au over 6.10m from surface and 17.34 g/t Au over 10.67m and multiple surface samples exceeding 100 g/t Au. GT Probe results this season have confirmed the presence of additional mineralized structures on the Vertigo target as well as the continuity of these structures to other targets, demonstrating a district-scale system of high-grade gold mineralization.
Highlights of results from GT Probe testing on the JP Ross property targets are outlined below:
|Line ID||Target||Au (g/t)|
*Represent consecutive samples at 5m spacing.
- Located 10km northwest of the Vertigo.
- Prospecting on the target returned assays from trace to 94.4 g/t Au. 11 samples from the area returned >1 g/t Au including highlights of 5.61, 6.09, 9.11, 23.3, 80.6 & 94.4 g/t Au. All associated with elevated Ag (trace to 226 g/t), As, Bi, & Pb (up to 2.06%).
- 12 GT Probe lines completed. Anomalous results > 1 g/t Au associated with the western and southeastern lines (trace to 4.64 g/t Au).
- Western lines correspond with strongly anomalous prospecting samples (trace to 80.6 g/t Au) along a N-NE trending zone of quartz veining/brecciation (Loki Vein). The SE lines have individual results from trace to 4.57 g/t Au and form an E-W trending corridor of anomalous Au over 110m strike length that is open in both directions.
- Interpretation of the results is ongoing, but initial indications are that the mineralization is associated with a series of N-NE and E-W trending structures.
- Located 7.5km northwest of the Vertigo.
- Consists of multiple zones of anomalous Au in soils over a 1.5km x 5km NE trending area with values from trace to 1,908.3 ppb Au.
- Detailed infill soil sampling focused on a 450m x 500m area within the Sabotage area in 2018, and returned discreet E-NE and NW trending gold in soil anomalies with values from trace to 295.3 ppb Au.
- Numerous prospecting samples and abundance alteration in the area, results including 1.15 g/t Au & 15.35 g/t Au. The samples are within an apparent N-NW corridor associated with GT Probe anomalies of 4.12 g/t Au & 4.65 g/t Au on separate lines.
- Located immediately south of the Vertigo and road accessible.
- Consists of a series of NE and NW trending gold in soil anomalies over a 500m x 1,500m area with values ranging from trace to 284ppb Au.
- GT Probe sample across a 300m long NE trending soil anomaly returned results from trace to 2.04 g/t Au, and prospecting resulting from trace to 5.24 g/t Au.
- The mineralization is interpreted to be associated with a NE trending structure and follow up work on the target and additional soil anomalies in the Topaz area is ongoing.
- To date, at least 12 mineralized structures are recognized on the Vertigo target over a 2,200m x 650m area, and consist of W-NW trending, steeply dipping zones of quartz veining, brecciation, and fracture-controlled mineralization with disseminated to vein-controlled pyrite-arsenopyrite-galena and locally, visible gold mineralization. The mineralization observed at Vertigo is associated with strongly elevated Ag-Pb-Bi (+/-As-Te) and consists of zones of strong alteration, brecciation, quartz veining and oxidized sulfide mineralization within a felsic gneiss unit.
- GT Probe sampling on the Vertigo in 2019 was designed to evaluate extensions of the mineralized structures to the west and south based on detailed soil sampling, prospecting and geophysical surveys. The GT Probe returned multiple anomalous samples across several lines with values ranging from trace to 2.39 g/t Au.
- Additional prospecting across the trend also returned significant results with individual surface samples ranging from trace to 17.95 g/t Au. Highlights include surface samples of 17.95 g/t Au, 10.1 g/t Au, 9.89 g/t Au, and 7.6 g/t Au. All are associated with strongly anomalous Ag (up to 104 g/t Au), As, Bi, & Pb (up to 0.48%).
The 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 >10g/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.
- 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., 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 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.
Contact Information:David D’Onofrio
Chief Executive Officer
White Gold Corp.