White Gold Corp. (TSXV: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to announce it has staked an additional 717 mining claims totaling 14,260 hectares (the “Staked Claims”) contiguous to the Company’s JP Ross, Hen, and Stewarts properties, Yukon, Canada. The staked claims further extend the Company’s land package immediately to the west and south of the Company’s JP Ross property in the area surrounding the recently announced Vertigo discovery where preliminary drill results(1) included from trace to 56.25 g/t Au over 3.05m within a broader intercept of 17.34 g/t Au over 10.67m from 3.05m depth (JPRVERRAB18-001) and 45.00 g/t Au over 3.05m from 1.52m depth, within a broader intercept of 9.65 g/t Au over 15.24m (JPRVERRAB18-011). Additional exploration in the area also encountered multiple high-grade grab samples(2) including 139.9 g/t, 135.6 g/t and 132.9g/t Au defining a strike length of approximately 1.1km on the vertigo target along a 12km mineralized trend. Maps further detailing the property locations can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
The staking of these claims further expands the Company’s dominant land package in the White Gold District to 21,218 quartz claims, totaling over 423,000 hectares and representing over 40% of the district.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/91e14372-bd89-4d41-9408-bfe8c8bbeb26
David D’Onofrio, Chief Executive Officer of the Company stated: “With the recent high grade discovery at the Vertigo Target and our interpretation of the trend which appears to extend over 12km, we were very keen to acquire additional claims in this area. We believe this is potentially a large, high-grade, structurally controlled gold system and with this staking and the recent acquisitions, we have secured the land position surrounding the discovery. We are continuing to apply our proprietary exploration to further explore the area and are eagerly anticipating further drill results from these and our other properties.”
JP Ross Property
The JP Ross property is comprised of 2,850 quartz claims covering over 57,000 hectares of exploration ground which currently has at least 14 known anomalous trends including the Vertigo and Suspicion, and numerous placer gold bearing creeks. Preliminary drill results(1)on the Vertigo target ranged from trace to 56.25 g/t Au over 3.05m within a broader intercept of 17.34 g/t Au over 10.67m from 3.05m depth (JPRVERRAB18-001) and 45.00 g/t Au over 3.05m from 1.52m depth, within a broader intercept of 9.65 g/t Au over 15.24m (JPRVERRAB18-011). Additional exploration in the area also encountered multiple high-grade grab samples(2) including 139.9 g/t, 135.6 g/t and 132.9g/t Au defining a strike length of approximately 1.1km on the vertigo target along a 12km mineralized trend. The JP Ross property is road accessible from Dawson City and the Vertigo Target is within 2km of an existing road. Recently staked and acquired claims adjacent to the property are situated within a prolific placer mining camp where coarse placer gold is common.
The property is located 25km north of the Company’s flagship White Gold property which has a mineral resource of 960,970 ounces Indicated at 2.43 g/t gold and 262,220 ounces Inferred at 1.70 g/t gold and 55km north of the Coffee project owned by Goldcorp Inc. with a M&I gold resource(3) of 4.1M oz. Historic exploration performed on the JP Ross property by Underworld Resources and Kinross Gold includes geochemical surveys, trenching, airborne magnetic and radiometric surveys, and 8,592m of diamond drilling over 64 holes. 14 target areas are currently known and large portions of the property are unexplored.
Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource on the JP Ross property to date and it is uncertain if further exploration will result in such target being delineated as a mineral resource.
| (1) | See Company News Release dated September 17, 2018, available on SEDAR | |||
| (2) | See Company News Release dated September 26, 2018, available on SEDAR | |||
| (3) | 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. |
About White Gold Corp.
The Company owns a portfolio of 21,218 quartz claims across 34 properties covering over 423,000 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 960,970 ounces Indicated at 2.43 g/t gold and 282,490 ounces Inferred at 1.70 g/t gold as set forth in the technical report entitled “Independent Technical Report for the White Gold Project, Dawson Range, Yukon, Canada”, dated March 5, 2018, filed under the Company’s profile on SEDAR. 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 Goldcorp Inc. with a M&I gold resource(3) of 4.1M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(3) of 8.9M oz Au and 4.5B lb Cu. The Company has outlined an aggressive exploration plan backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC). For more information visit www.whitegoldcorp.ca.
QA/QC
The analytical work for the 2018 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 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).
The work was completed using industry standard procedures, including …read more
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