White Gold Corp. Identifies Multiple New High-Priority Gold Targets on the JP Ross & White Gold Properties through Detailed Soil Exploration Program
TORONTO, Aug. 22, 2019 (GLOBE NEWSWIRE) -- 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."
Summary
A 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 Property
A 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 Highlights
Vertigo: 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.
| 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 | ||
| 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 Property
A 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 Highlights
Teachers: 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.
| 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 | ||
| 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/QC
The 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 Person
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.
(647) 930-1880
ir@whitegoldcorp.ca
