White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF,
FRA: 29W) (the "Company") is pleased to announce results
from its 2019 soil sampling program on its White Gold & JP Ross
Properties which identified multiple new high priority gold
targets. The goal of the program was to complete detailed soil
sampling on areas where preliminary soil sampling had returned
promising results in order to identify drill targets by better
defining the geometry of mineralized structures. Results on the JP
Ross property targets include up to 2,964 ppb Au on Frenzy, 2,905
ppb Au on Sabotage, 2,279 ppb Au on Rebecca, with White Gold
property targets including samples up to 1,590 ppb Au on
Minneapolis, 1,585 ppb Au on Ulli’s and 1,162 ppb Au on McKinnon,
among multiple others. These soil samples are interpreted as being
in-place and representative of the bedrock below due to the
unglaciated nature of the area, indicating high priority targets
for upcoming follow up activity including probe, trenching and
RAB/RC drilling. These soil samples are part of the Company’s fully
funded $13M exploration program, backed by partners Agnico Eagle
Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K,
NYSE: KGC) which 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 sampling,
trenching and RAB/RC drilling on multiple properties across the
Company’s expansive land package located in the prolific White Gold
District in Yukon, Canada.
Highlights Include:
- 17,100 soil samples completed adding to a very
significant historical database now totaling over 400,000 soil
samples in the White Gold District. The grade, continuity, size and
similarities with previous discoveries of these results further
highlight the potential for additional discoveries on the White
Gold and JP Ross properties. Follow up work on these new targets is
in progress and includes prospecting, GT Probe sampling and RAB
drilling.
- JP Ross Property: --
12,540 soil samples completed across 10
targets. -- 7 samples
>1,000 ppb Au, 31 samples >500 ppb Au, 299 samples >100
ppb Au. -- Results include
up to 2,964 ppb Au on Frenzy target, 2,905 ppb Au on Sabotage
target and 2,279 ppb Au on Rebecca target. --
Extended trends on Vertigo including over
1,500m along strike WNW and over 850m N-S with multiple trends
>50 ppb Au; and on Frenzy N-S zone of >100 ppb Au traceable
for 950m. -- JP Ross
property now has at least four recognised gold trends over a 15 km
by 15 km area including the Vertigo, Stage Fright, Sabotage and
Frenzy Trends, as well as additional emerging targets on
underexplored portions of the property.
- White Gold Property: --
4,560 soil samples completed across 7
targets. -- 6 samples
>1,000 ppb Au, 14 samples >500 ppb Au, 201 samples >100
ppb Au. -- Results include
up to 1,590 ppb Au on Minneapolis target, 1,585 ppb Au on Ulli’s
target, 1,162 ppb Au on McKinnon target. --
Extended trends on McKinnon including over
1,000m WNW zone of >100ppb Au and 600m N-S of >50ppb
Au; and on Ulli's a series of E-W zones up to 500m
long of >100 ppb Au. --
White Gold property trend now identified to
be 12km by up to 4.5km NW trend of anomalous gold in soils with at
least 11 distinct target areas; including the Golden Saddle and Arc
deposits.
- Additional exploration activity continues across the
White Gold, JP Ross and multiple other regional properties, with
related soil sampling, prospecting, GT Probe sampling, trenching,
RAB/RC and diamond drilling results to be released in due
course.
Images to accompany this news release can be
found
at http://whitegoldcorp.ca/investors/exploration-highlights/.
"Soil sampling has been the most effective tool
in gold exploration in the White Gold district. This year’s soil
sampling program was designed to pin down anomalous structures on
both the JP Ross and the White Gold properties. Sampling was done
on 5m to 10m station spacing and 50m line spacing on the JP Ross
and 25m station spacing on 50m line spacing on the White. The
results were even better than expected with some beautiful linear
soil anomalies 20-30m wide, some running up to 750m long showing
up, where previous 50m space soil sampling barely gave us any
indications. The JP Ross project had 54 Mini Grids put in and the
White property had 17 Detail Grids. The gold soil anomalies
produced from these Detail and Mini Grids will be followed up by GT
Probe lines and trenching, with the intent to RAB drill up to 35
holes on the JP Ross and up to 25 holes on the White. I look
forward to next round of drilling as we will be targeting the
highest probability areas of our newly defined gold anomalies."
SummaryA total of 17,100 soil
samples have been collected across the JP Ross and White Gold
properties in the 2019 exploration program, with most sampling
conducted as infill grids on existing, coarsely defined anomalies
with the goal of better defining targets and geometry of
potentially mineralized structures. Multiple new trends and targets
were defined from this soil sampling on both the JPR and White Gold
properties with follow up work ongoing, including GT Probe
sampling, geophysical surveys, trenching, geologic mapping and
prospecting, with a focus on defining new RAB drill targets to be
tested in 2019. Extensive soil sampling has also been
conducted this season on several of the Company’s other regional
properties with results to be released in due course.
JP Ross PropertyA total of
12,540 soils have been collected across multiple grids covering 11
different target areas in the 2019 exploration program on the road
accessible JP Ross property. The grids were planned to infill or
expand areas of historic anomalous soils to better understand the
geometry of potential mineralized structures. Line spacing on the
grids ranged from 50 to 100m with samples spacing ranging from 5 to
10m on the lines depending on the target. Assay results for the
sampling ranged from trace to 2,964 ppb Au. Statistics for the soil
program and a breakdown of grids and results per target area are
presented in Table 1 and 2. Highlights from specific targets are
discussed below.
Target
HighlightsVertigo: Four grids were placed
around the Vertigo target and were designed to expand/infill the
known soil anomalies on the Vertigo target and returned values from
trace to 484 ppb Au. The current interpretation is that these
anomalies highlight extensions of known mineralized structures on
the Vertigo. The Vertigo soil anomaly is now traceable for over
1,500m along strike to the WNW and over 850m to the N-S with the
soils defining multiple trends of soils >50 ppb Au associated
with strongly anomalous Ag, Bi, & Pb (+/- As) and known high
grade mineralized gold structures, as recently highlighted in the
Company’s press release dated August 8, 2019.
Topaz: Located immediately
south of the Vertigo, the Topaz has multiple gold in soil anomalies
over a 1,500m x 900m N-S trending area. Sampling in 2019 focused on
the northern end of the trend and returned a circular anomaly over
a 200m x 150m area with values ranging from trace to 404.5ppb Au
and is associated with strongly elevated Ag, Bi, & Pb.
Sabotage/Saboteur: 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. Individual anomalies over the area typically trend
to the WNW and NE with values ranging from trace to 2,905 ppb Au.
Specific highlights include the Saboteur target which consists of
an 835m WNW trending linear zone of >50 ppb Au in soils (up to
664 ppb Au), and a 390m NE trending linear anomaly at the NE end of
the area with values >100 ppb Au (up to 1,179 ppb Au). The
anomalies are typically gold only with no significant pathfinder
association and occur along interpreted 2nd and 3rd order
structures adjacent to a regional scale E-W fault; similar to the
Companies Golden Saddle deposit 30km to the south.
Stage Fright: 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. Soil sampling in
2019 focused on the NE and SW parts of the trend and returned
values from trace to 667 ppb Au. Soil sampling conducted on the
central portion of the target in 2018 defined targets for
previously announced 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, as
reported in White Gold Corp. press release dated August 8,
2019.
X-Man: The X-Man is located
12km NE of the Vertigo. It forms a circular gold in soil anomaly
over a 610m x 550m area with values ranging from trace to 442ppb Au
and is associated with anomalous Ag, Bi, Cu, & Pb. Uniquely,
the anomaly is hosted within volcanic rocks of the Carmacks
assemblage and geochemical patterns and alteration from the area
indicate that potential for Cu-Au+/-Mo porphyry style
mineralization.
North Frenzy/South Frenzy: 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 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; similar to Vertigo. 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.
Psycho: The Psycho is located
5.2 km NE of the Vertigo and covers multiple gold in soil anomalies
over a 3,500 x 950m NE trending area with values ranging from trace
to 1,711 ppb Au. The strongest anomaly occurs within the centre of
the trend and consists of a 500m x 180m NW trending zone of
anomalous gold in soils >50ppb Au (up to 1,711 ppb Au). The
geology of the target is currently poorly understood and follow up
mapping and prospecting on the anomalies is in progress.
Suspicion: The Suspicion covers
two gold in soil anomalies within a 1,400m x 500m N-S area. The
northern anomaly consists trends WNW and is traceable over 450m and
is open along trend. 2019 soil sampling on the trend returned
values from trace to 1,159 ppb Au. Historic soils on the target are
up to 4,263 ppb Au. The southern anomaly is NE trending, traceable
over 700m and returned values from trace to 366 ppb Au. Both
anomalies are associated with strongly anomalous Ag, Bi, & Pb
similar to the adjacent Vertigo target, 4km to the NW.
|
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Table 1: JP Ross 2019 Soil Stats |
|
|
JP Ross 2019 Soil Stats to Date |
|
|
Total Samples: |
12,540 |
|
|
Assays Received to Date |
11,573 |
|
|
Range – Au(ppb) |
Tr – 2,963.6 |
|
|
Samples >1000 ppb Au |
7 |
|
|
Samples >500 ppb Au |
31 |
|
|
Samples >100 ppb Au |
299 |
|
|
Samples >50 ppb Au |
679 |
|
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Table 2: JP Ross 2019 Soil Target Summary |
|
|
Target |
# of Grids |
Range – Au (ppb) |
|
|
Vertigo |
3 |
Tr – 483.5 |
|
|
Topaz |
2 |
Tr – 404.5 |
|
|
Sabotage |
12 |
Tr – 2,905 |
|
|
Stage Fright |
2 |
Tr – 667.2 |
|
|
North Frenzy |
9 |
Tr – 2,963.6 |
|
|
South Frenzy |
|
|
X-Man |
1 |
Tr – 442 |
|
|
Psycho |
7 |
Tr – 1,711.3 |
|
|
Suspicion |
4 |
Tr – 1,158.8 |
|
|
Lifeboat |
2 |
Tr – 965.7 |
|
|
Rebecca |
4 |
Tr – 2,279.1 |
|
|
Other |
4 |
Tr – 565.4 |
|
White Gold PropertyA total of
4,560 soils have been collected across multiple grids covering 7
different target areas in the 2019 exploration program. The grids
were planned to infill areas of historic anomalous soils to better
understand the geometry of potential mineralized structures. Line
spacing on the grids was 50m with samples spaced 25m on the lines.
Assay results for the sampling ranged from trace to 1,590 ppb Au.
Stats for the soil program and a breakdown of grids and results per
target area are presented in Table 3 and 4. Highlights from
specific targets are discussed below.
Target
HighlightsTeachers: The Teachers is
located approximately 4.5km NW of the Golden Saddle and covers a
1,800m x 1,000m, N-S, trending area of anomalous gold in soils with
individual assays ranging from trace to 824 ppb Au. This includes
three distinct zones with cores of samples >50ppb Au that appear
to be associated with zones of stockwork quartz veining, and
brecciation along E-W and NW oriented structures.
Minneapolis: The Minneapolis is
located 3.3km NW of Golden Saddle and consists of a 900m x 350m,
NW-SE trending gold in soil anomaly, with individual assays ranges
from trace to 1,590 ppb Au. Includes a 150m x 300m core of samples
>100 ppb Au and is interpreted to be associated with W-NW and
secondary N-NE oriented structures associated with stockwork quartz
veining and brecciation.
Ulli's: The Ulli's is located
2.4km WSW of Golden Saddle and covers a 1,500m x 400m, NW-SE
trending, gold in soil anomaly, with individual assays ranging from
trace to 1,585 ppb Au. Included within the anomaly are a series of
E-W trending zones, up to 500m long, of gold in soils >100 ppb
Au. Limited historic work has been conducted on the target and
follow prospecting, GT Probe sampling, and geophysics is in
progress.
Donahue: Donahue covers 3 WNW
trending zones over a 1900m x 700m area with individual assays
ranging from trace to 453 ppb Au. The northern trend includes a
200m x 50m core of samples >100 ppb Au. The anomalies are gold
only and appear to be associated with the intersection of W-NW
trending structures with a NW trending sheared ultramafic unit;
similar to the Golden Saddle 2.8km to the north.
Wedge: The Wedge is located 3km
SE of Golden Saddle and covers a broad, 850m x 650m zone of
anomalous gold in soils within individual values ranging from trace
to 197 ppb Au. This includes a 300m E-W trending core on the
southern end of the target of gold in soils >50 ppb Au. The
anomalies are gold only, are associated with strong sericite
altered felsic orthogneiss with NE trending zones of quartz veining
and brecciation, similar to the Golden Saddle. Recent prospecting
conducted in the area returned grab samples ranging from trace to
34.7 g/t Au.
South Donahue: South Donahue is
located 4.2km S of Golden Saddle and covers a 510m x 150m, N-S
trending, gold in soil anomaly with individual assays ranging from
trace to 366 ppb Au. This includes a 250m core of samples >50
ppb Au on the northern end of the target.
McKinnon: The McKinnon covers
two target areas, McKinnon West and McKinnon East, located 5.1km
and 5.6km SSE of Golden Saddle, respectively. The eastern
side of the target consists of a 1,000m WNW trending zone of gold
in soils with a linear 400m zone of soils along the northern margin
>100ppb Au, up to 1162.4 ppb Au, associated with an interpreted
WNW trending structure. The western side of the target consists of
600m N-S trending anomaly which includes a 400m x 100m core of
samples >50ppb Au, up to 318.2 ppb Au.
|
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Table 3: White Property 2019 Soil Stats |
|
|
White Soil Stats |
|
|
Total Samples: |
4,560 |
|
|
Assays Received to Date |
4,560 |
|
|
Range - Au(ppb) |
Tr – 1,590.3 |
|
|
Samples >1000 ppb Au |
6 |
|
|
Samples >500 ppb Au |
14 |
|
|
Samples >100 ppb Au |
201 |
|
|
Samples >50 ppb Au |
517 |
|
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Table 4: White Property 2019 Soil Target
Summary |
|
|
Target |
# of Grids |
Range – Au (ppb) |
|
|
Teachers |
2 |
Tr – 824.4 |
|
|
Minneapolis |
1 |
Tr – 1,590.3 |
|
|
Ulli's |
1 |
Tr – 1,585.4 |
|
|
Donahue |
2 |
Tr – 453 |
|
|
Wedge |
2 |
Tr – 196.5 |
|
|
South Donahue |
3 |
Tr – 365.7 |
|
|
McKinnon |
3 |
Tr – 1,162.4 |
|
|
Other |
2 |
Tr – 147.3 |
|
QA/QCThe analytical work for
the 2019 program is being performed by ALS Canada Ltd. (ALS) and
Bureau Veritas Commodities Canada Ltd. (BV), both internationally
recognized analytical services provider, at their respective
Vancouver, British Columbia laboratories. Sample preparation
was carried out at their Whitehorse, Yukon facilities. All rock, GT
Probe, RC chip, and diamond core samples were submitted to ALS and
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 >10g/t Au are reanalyzed using
method Au-GRAV21 (30g Fire Assay with gravimetric finish). All
soil samples were submitted to BV and were prepared 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). 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
discoveries and 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’Onofrio Chief Executive Officer White Gold Corp. (647) 930-1880
ir@whitegoldcorp.ca
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