Triumph drills 400.48-metres of 1.21 g/t AuEq at Freegold Mountain

By Peter Kennedy

Triumph Gold Corp. [TIG-TSXV] has announced impressive drilling results from its 100%-owned Freegold Mountain property in the Yukon Territory, where the company has encountered buried porphyry gold-copper mineralization.

Assays release on September 12, 2019, are from the first two of seven holes that the company is planning to drill on the road accessible property, which covers 200 km2, and is located 70 kilometres northwest of Carmacks.

The two drill holes (1,664.21 metres) were completed at the WAu Breccia, a south-dipping tabular body of polymetallic mineralization which has been intersected by eight historic drill holes that tested to a maximum depth of 200 metres below surface.

Drill hole RVD19-01 was oriented northwards to test for a depth extension of the WAu Breccia, 250 metres beneath the previous intersection. RVD19-02, was drilled southward along the same section and was designed to drill down the dip-plane of the WAu mineralized zone. RVD19-02 was also designed to efficiently test continuity of the WAu mineralization to depth, while also using the breccia body as a vector towards an underlying porphyry system.

“At the WAu Breccia, the first of three areas being drill tested in 2019 for buried porphyry mineralization, we have discovered a porphyry copper-gold system,” said Dr. Tony Barries, Vice-president, exploration with Triumph Gold. “The discovery intersection is long, high grade, gold-rich and closer to surface than we had expected,” he said.

“We also more than doubled the known depth of the near surface, gold-rich, epithermal style WAu Breccia,” Barries said. Based on positive results from those two drill holes, an additional hole has been added to the program to further test for high grade porphyry mineralization beneath the WAu Breccia.

Highlights from the latest round of drilling include drill hole RVD19-02. It returned a 400.48-metre intersection of epithermal-style mineralization (77.52 to 478 metres) at the WAu Breccia. It assayed 1.21 g/t of gold equivalent (AuEq), containing 0.73 g/t gold and 0.23% copper, more than doubling the previously known depth of the mineralization.

RVD19-02 also returned a 102.50-metre intersection of gold-rich porphyry related mineralization that assayed 1.26 g/t AuEq equivalent, containing 0.73 g/t gold and 0.18% copper (from 560.50 to 663.00 metres).

Combined the two mineralized zones form an impressively long and rich intersection, 601.80 metres averaging 1.1 g/t AuEq equivalent, with 0.67 g/t of actual gold.

As well, RVD19-01 intersected a 52-metre thick down dip extension of the WAu Breccia. The best interval returned 0.40 g/t gold, 7.1 g/t silver, 0.20% copper and 0.025% molybdenum over 15.64 metres.

Triumph shares rallied on the news, rising 7.36% or $0.035 to 51 cents Thursday September 13 on volume of 367,050. The 52-week range is 30.5 cents and 70 cents.

Triumph is a mineral explorer which is focused on its Freegold Mountain Project in the Dawson Range gold-copper belt. The area also hosts Western Copper and Gold’s [WRN-TSX] Casino Project as well as Newmont Goldcorp Corp.’s, [NGT-TSX, NEM-NYSE] Coffee deposit. Newmont Goldcorp recently gained exposure to the road-accessible Freegold Project by taking a 19.9% stake in Triumph for $6.3 million.

Since Triumph Gold acquired the property in 2006, more than 20 mineralized zones have been identified, and NI 43-101-compliant mineralized resources have been delineated in the Revenue, Nucleus, and the Tinta Hill deposits

Within the last three years, exploration has been focused on the six-kilometre-long intense multi-element soil and geological anomaly that encompasses the Revenue and Nucleus deposit areas.

The Nucleus and Revenue deposits are known to be components of a larger porphyry-related mineralizing system.

The 2019 exploration program at Freegold Mountain was designed to test for a buried copper-gold porphyry system beneath the six-kilometre-long Revenue-Nucleus soil and geophysical anomaly.

With the addition of the third drill hole to the WAu Breccia area, the 2019 exploration program now includes seven drill holes totalling 6,000 metres, the company said Thursday. The current results indicate success at the WAu Breccia, the first area tested. Triumph said it now looks forward to receiving drill results from the other two target areas.

Meanwhile, Triumph has said the terms copper and gold equivalent are used for illustrative purposes to express the combined value of copper, gold, silver and molybdenum as a percentage of either copper or gold. No allowances have been made for recovery losses that would occur in a mining scenario.

Rockhaven launches Yukon drilling, stock up

Rockhaven Resources Ltd. [RK-TSXV] shares rallied Monday September 9, after the company said it has launched the 2019 drilling program at its 100%-owned Klaza property, located in the Dawson Range Gold Belt of southern Yukon.

Rockhaven said the program will include 6,000 metres of diamond drilling in 35 holes. The total cost of the program is expected to be $1.5 million.

The company said two drill rigs will be utilized to define and evaluate targets which lie adjacent to zones containing an indicated resource of 686,000 ounces of gold and 14 million ounces of silver (or 907,000 ounces of gold equivalent), plus an inferred resource of 507,000 ounces gold and 13.9 million ounces of silver (725,000 ounces of gold equivalent).

“We are thrilled to begin our fully-funded 2019 diamond drill program, which we expect will expand the current mineral resources that are hosted in only two of eleven main zones identified to date on the Klaza property,” said Rockhaven CEO Matt Turner.

“The drilling will also test some of the other sub-parallel zones, including the Central Pearl Zone, where 2017 drilling discovered five high-grade gold veins and the Victoria Zone, where prospecting samples returned up to 35.30 g/t gold and 2,360 g/t silver,’’ Turner said.

Rockhaven shares advanced on the news, rising 15.6% or $0.025 to 18.5 cents. The shares trade in a 52-week range of $0.085 and 18.5 cents.

The company said the first rig will primarily be discovery focused and will evaluate high-grade gold and silver targets in sub-parallel zones adjacent to known resources. These targets include the Central Pearl Zone, the Victoria Zone, and the Western Chevron and Dickson Zones. The Central Pear Zone was discovered by a single exploration hole in 2017 that cut numerous mineralized structures, including a 10.12-metre wide zone that averaged 1.16 g/t gold and 18.7 g/t silver.

The second drill rig will focus on definition drilling at the Eastern Zones, a target that hosts bulk tonnage, fracture controlled mineralization in broad zones, situated adjacent to the Klaza mineral resources. This drilling will focus on the near surface and potentially pit-constrained portions of these zones with results used to facilitate deposit modelling and resource estimation.

Adding to the importance of this target, metallurgical test work has indicated positive gold recoveries through direct cyanide leaching, with 81% of the gold recovered to doré bars.

News that drilling has begun comes just days after the company said it had closed a private placement financing deal that raised $4 million. Klaza hosts a large hydrothermal system that is concentrated within a 4km long by 3km wide structural corridor. The company said current mineral resource areas have only been systematically explored to a depth of about 275 metres, but well mineralized intersections occur as deep as 450 metres.

White Gold Corp. Makes New High-Grade Gold Discovery 15km West of Vertigo; Ongoing Regional Exploration Program Identifies Multiple Additional High-Priority Targets

Management to Present at Upcoming Beaver Creek Precious Metals Summit and Denver Gold Forum

White Gold Corp. [TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W] (the “Company”) is pleased to announce results from its 2019 regional soil sampling program which identified multiple new high-priority gold targets, including a new high-grade gold discovery, the Titan target. The Titan is located on the road accessible Hen property, contiguous to the Company’s JP Ross property, less than 15km WNW from the Vertigo discovery, Yukon, Canada. Exploration results on the Titan include soil samples of up to >100,000 ppb Au, the highest soil value ever recorded within the Company’s White Gold District soil database comprised of 400,000+ soil samples. 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. The Company’s regional exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC) is ongoing on several high-priority gold targets, with activity including GT Probe sampling, geophysical surveys, trenching, geologic mapping, prospecting and RAB drilling, with related results to be released in due course.

Highlights Include:

  • New high-grade gold discovery on Titan target, Hen property. Results exceed 100,000 ppb Au, highest ever in company’s 400,000+ soil sample database; located less than 15km WNW from Vertigo discovery.
  • Preliminary follow up exploration encountered fine-grained visible gold in the subcrop of strongly quartz-sericite altered mafic gneiss with up to 5% disseminated magnetite.
  • Multiple new high priority targets identified. Soil sample results include; Nolan property up to 525.3 ppb Au, Wolf Property up to 247.2 ppb Au, among others.
  • Over 13,300 soil samples have been collected on 12 of the Company’s regional properties this season.
  • Follow up work on the Titan and other regional targets is in progress; activity includes trenching, GT Probe sampling and RAB drilling, with results to be released in due course.
  • Diamond drill results on Golden Saddle, Arc, Ryan’s Surprise and Vertigo targets as well as RC drill results on the VG Zone, to be released in coming weeks.
  • Management to present at upcoming Beaver Creek Precious Metals Summit and Denver Gold Forum.

Images to accompany this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

“Our soil sampling program has continued to successfully identify new gold zones and lead to significant discoveries across our vast portfolio of properties,” stated Jodie Gibson, VP of Exploration. “The Titan gold in soil grade at Hen is the highest we have ever recorded in the White Gold District. Ongoing follow-up activities which have also identified the presence of visual gold make the Titan a very exciting and highly prospective drill target. Located 15km from the Vertigo, this discovery is further evidence of a potential major gold system in the placer-rich Henderson Creek region that we are starting to tap into.”

Titan Discovery:

The Titan target is located on the Hen property, adjacent to the JP Ross on the west, and approximately 15km to the WNW of the Vertigo. A N-S oriented soil grid was placed over the area (100m spaced lines x 50m spaced samples) to follow up on historic soils in the area with anomalous gold (>100 ppb Au) & copper values.

Sampling returned values ranging from trace to >100,000 ppb Au (>100 g/t Au); the highest soil value within the Company’s soil database for the White Gold District comprised of over 400,000 samples. A follow up fire assay on the >100,000 ppb Au sample and rock samples collected from the area are in progress and the results are pending. The anomalous gold in soils form an approximate 500m N-S trending target and occurs within a circular magnetic low feature covering a 750m x 750m area and may indicate a buried intrusion with potential for porphyry and/or skarn style mineralization. A broad zone of anomalous Cu in soils (>100 ppm Cu; up to 1,395 ppm Cu) is also coincident with the magnetic feature, which appears to occur near the intersection of N-S and NE trending faults.

Prior to the Titan, the highest soil sample in the Company’s database was 9,019 ppb Au from the Donahue target on the White Gold property. The maximum soil values from other well-defined targets in the Company’s portfolio for comparison are present below:

The Hen property is situated within a prolific placer mining camp. Abundant, coarse placer gold has been recovered from creek gravels on North Henderson Creek immediately east of the Titan target. Additionally, the structural and geologic setting of the Hen indicate mineralization in the area is congruent with mineralized structures identified by the Company on the adjacent JP Ross property.

Preliminary follow up investigation of the highly anomalous gold in soil sample included the excavation of a pit overtop of the >100,000 ppb Au soil sample to an approximate depth of 90cm; the same depth as the soil sample. At that depth, subcrop of strongly quartz-sericite altered mafic gneiss with up to 5% disseminated magnetite and fine-grained specks of visible gold was encountered.

Additional ongoing follow up work on the target is ongoing and includes geologic mapping and prospecting, geophysical surveys and GT Probe sampling with a goal of defining drill locations on the target for later this season.

Table 1: Hen Property Soil Stats

Regional Exploration Update:

A total of 13,302 soil samples have been collected on 12 of the Company’s regional properties. The sampling was conducted to follow up and/or expand upon previous known anomalous areas, evaluate new target areas, and/or for assessment purposes.

Multiple new trends and targets were defined from this soil sampling with follow up work ongoing, including GT Probe sampling, geophysical surveys, trenching, geologic mapping, prospecting, and RAB drilling, with related results to be released in due course.

A summary of the soils collected per property and range of assays returned to date are detailed in Table 1 below. Outside of the Hen, highlights include results from the Nolan, QV, and Wolf properties, with these discussed in more detail below.

Table 1 – Summary of Regional Soil Assays Received to Date

Regional Target Highlights:

Nolan:

A total of 3,152 samples were collected on the Nolan over four grids. The best results were returned from two grids in the Mount Hart area on the southeastern end of the property. The northern grid extended a historic grid 1,500m to the east and returned clusters of anomalous results expanding known soil anomalies in the area. The southern grid expanded the historic grid 1,500m to the south and uncovered a new 550m NW trending zone of anomalous gold in soils ranging from trace to 525.3 ppb Au. All together, at least five distinct anomalous zones are currently recognised on the Hart and dominantly occur within felsic-mafic volcanic units adjacent to Cretaceous granitic intrusive:

Hart N1:

  • Covers approx. 1,000m x 1,900m area
  • Au ranges from trace to 534.2 ppb Au with coincident Bi-Pb-Te

Hart N2

  • Covers approx. 700m x 300m NW trending area.
  • Au from trace to 620.6 ppb Au, gold only anomaly

Hart S1

  • 1300m x 1000m, circular, anomaly
  • Au from trace to 517.6 ppb Au with coincident Ag-As-Bi-Pb

Hart S2

  • Linear 1,000m x 200m NE trending anomaly
  • Au from trace to 645 ppb Au with coincident Cu

Hart S3

  • New, approx. 550m x 100m NW trending anomaly
  • Au from trace to 525.3 ppb Au, gold only anomaly

Wolf:

A total of 666 samples collected over 1 grid designed to expand grid coverage and known anomalies to the NE of the Wolf onto the Flow claims acquired from Independence Gold in 2018. The grid returned gold values ranging from trace to 247.2 ppb Au and expanded the zone of anomalous gold in soils in the area by approximately 1km. The anomaly occurs on the northern flank of Wolf Mt. and covers an approximate 1,400m x 300m E-W corridor associated with anomalous Ag, As, Bi, Pb +/- Cu and covers the contact of a Cretaceous granitic intrusive, adjacent gneiss/schist, and overlying felsic-intermediate volcanic units.

QV:

A total of 1,466 soil samples were collected over two grids on the QV and adjacent Yellow properties. The most significant results were from a previously unsampled area in the central portion of the QV property and included samples ranging from trace to 106.2 ppb Au. This includes expansion of the Tetra zone approximately 600m to the west, and the Tetra target now covers a 1,300m x 1,000m area and is associated with an E-W trending magnetic low interpreted as a potentially mineralized structure. The Tetra target is located approximately 8.5km north of the VG Zone, which hosts an Inferred Resource of 230,000 oz Au(1). A total of 8 RC holes for 855m were drilled on the VG deposit by the Company in 2019. Results for the RC drilling is expected to be released in the coming weeks.

  • See White Gold Corp. news release dated March 1, 2019, available on SEDAR.

Upcoming Conferences
Management of the Company will be presenting at several upcoming conferences to provide a corporate update, answer questions and provide details on the recent discoveries and have also been selected for special group presentations as follows:

Precious Metals Summit Beaver Creek
Beaver Creek, Colorado – September 10-13, 2019
Presentation: Thursday, September 12, 2019 at1:45-2:00PM in Gerald R. Ford Conference Center, Lower (Main) Level, Room 2
More Information: https://www.precioussummit.com/event/2019-summit-colorado/
Denver Gold Forum
Denver, Colorado – September 15-18, 2019
Presentation: Tuesday, September 17, 2019 at 1:50-2:05PM in Hyatt Hotel, Room Centennial C (Explorer & Developer Forum)
More Information: https://www.goldforumamericas.com/

Please reach out to management if you would like to book a meeting at either of these conferences.

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(2) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(2) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.

(2) 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.

Contact Information:

David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@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”, “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.

 

White Gold turns heads as exploration steps up a gear

Slowly but surely TSXV-listed White Gold Corp [TSXV: WGO] is coming into its own. About half way into its 2019 drilling programme it looks as if the debt-free Canadian company backed by Kinross Gold (19% equity stake) and Agnico Eagle (19%) could make this a transformative year.

New discoveries have rolled thick and fast both this year and last, paving the way, hopefully, for another significant uptick in White Gold’s resource tally.

In a recent company presentation, the company pointed to the strong take-out valuations on a per-ounce basis in the district with Kaminak going for roughly $175/oz when snapped up by Goldcorp in 2016.

The company’s substantive land package is in Yukon’s prolific White Gold District, the scene of the original Klondike Gold Rush. Today the company owns more than 40% of the claims in the region where both Newmont Goldcorp’s Coffee deposit and Western Copper & Gold’s Casino deposit are located.

More data on the results of this year’s fully funded C$13m drilling programme is expected within weeks, but already White Gold’s story is taking shape, with strong drilling results received since April, following four new gold discoveries in 2018 (Vertigo, GS West, Ryan’s Surprise and Betty Ford).

Currently, the company, is undertaking 17,000m of diamond drilling and 7,500m of reverse circulation (RC) drilling across a wide area.

Initial results were promising. At its flagship Golden Saddle deposit (White Gold property), the results “were among the best to date”, and at Vertigo (JP Ross property) at least six high grade mineralized structures have been discovered.

Highlighted intervals at Golden Saddle include 3.59g/t gold over 68m from 73m depth, including 8.11g/t over 13.6m from 77m depth, and 2.31g/t over 10.56m at 179m depth. At Vertigo intervals included 0.42m of 141g/t within a broader envelope of mineralization that averaged 11.64g/t over 5.34m from 3m depth, and 18.46g/t over 2.48m from 92m depth.

In a nutshell, the latest discoveries at Golden Saddle, 95km south of Dawson City, could significantly expand the high-grade mineralization within and beyond the current Golden Saddle resource boundary. Additionally, diamond drilling locally has extended Golden Saddle’s nearby GS Main zone 205m down dip from historic drilling, about doubling the down dip extension in the area.

All of Vertigo’s diamond drill holes intersected gold mineralization and the team has identified at least six high- grade mineralized gold structures. The company plans to drill 10,000m at Vertigo this season, one of its most notable discoveries during 2018. Drill intercepts in 2018 of up to 103.9g/t, and grab samples up to 304.3g/t were among the highest grades ever encountered in the White Gold district.

In summer 2019, White Gold identified multiple new high-grade gold mineralization trends across JP Ross further adding to the pipeline. The new trends were identified on the Stage Fright, Sabotage, Topaz, and Vertigo targets, all located within 10km of last year’s Vertigo discovery.

CEO David D’Onofrio said in an industry where even a single gold discovery would be notable, White Gold’s record displayed “the power of our proprietary exploration strategy and methodology”.

He said: “Unlike a typical junior mining company, there is no incentive for us to prolong work on a property where we don’t see the potential. We are systematically performing low-cost exploration work across our entire portfolio to guide where further exploration dollars are spent.”

Progress should be seen in the context of a large regional exploration program that continued to generate “a strong pipeline of new targets demonstrating the district-scale opportunity across WGO’s assets”.

At JP Ross, the team was following prospective gold targets near the Henderson Creek system, where placer gold mining has been taking place since the turn of the century.

Work at GS West and another gold target, Ryan’s Surprise, had demonstrated the existence of myriad satellite deposits surrounding Golden Saddle on trend. By testing similar targets, D’Onofrio hoped to show how the company’s properties would be turned into “a true gold camp”.

Another priority is to add more ounces to the 230,000oz at the VG Zone on the QV property acquired from Comstock Metals in early 2019. Here the resource is inferred at a cut-off of 0.5g/t (4.4 million tonnes grading 1.65g/t).

The VG resource is based on just 17 drill holes — and sits 44km northwest of Goldcorp’s Coffee project, which is being developed as an open pit and heap-leach gold mine, slated for production in 2021.

Significant similarities have been detected in structural setting and mineralization style between VG and Golden Saddle deposits.

D’Onofrio said: “This property has seen very limited exploration to date and we are confident that our team, including Jodie Gibson who originally oversaw the discovery drilling, is well positioned to maximize the value of the VG deposit and the other highly prospective targets on the property. The similarities of the deposit and targets on this property to Golden Saddle and Vertigo provide a unique opportunity to leverage our team’s experience in the White Gold District.”

Elsewhere, the Betty property was contiguous and hosted in the same regional structure as the Coffee project.

Brokers reckon this year’s drilling programme could yield significantly more than the 25% uptick in White Gold’s resource estimate that flowed from the 2018 drilling season.

The current tally amounts to 22,040 quartz claims across 35 properties, over 439,000 hectares/1,084,000 acres. Golden Saddle’s resource has 1,039,000 indicated and 508,000 inferred ounces of high-grade gold.

White Gold is undertaking 17,000m of diamond drilling and 7,500m of reverse circulation (RC) drilling across a wide area

Analysts certainly have White Gold on their radar. GMP Securities have the stock on its buy list with a price target of $2.20, while Canaccord Genuity, Clarus Securities and PI Financial have it on their watchlists.

There are other reasons why White Gold catches the eye.

For a start, legendary Yukon prospector Shawn Ryan is chief technical adviser. Years ago he staked and acquired a huge package of prospective Yukon properties, optioning them to different junior mining companies.
However, after millions of dollars of exploration work, in a soft gold market, the claims lapsed and all reverted back to Ryan, who then spent years reviewing the data, picked the best projects, partnered with PowerOne Capital in Toronto, and created White Gold Corp; this time with a systematic exploration strategy and a regional approach to exploration in the district.

Elsewhere, Rob Carpenter, formerly CEO of Kaminak Gold before it was sold to Goldcorp for US$520 million three years ago, is on the board. He has 25 years of experience as a mining company executive and professional geologist, with a PhD from Western University. He founded Kaminak, the company that discovered the Coffee deposit sold to Goldcorp, leading as president and CEO for seven years, seeing the company listed on the TSXV.

A look at the background of that deal helps to explain White Gold’s appeal.

Kaminak had been operating in the White Gold district since 2009 and produced a delicious feasibility study on Coffee that indicated the mine could be paid for in about two years with 3.4Moz. No wonder Goldcorp pounced, lifting the lid on what the district had to offer, and illustrating to investors the rich land package that White Gold is sitting on as it extends its exploration as well as increasing proven or probable reserves.

White Gold says it has more than 25 other early stage projects sitting in its pipeline.

Strategic samples 2,340 g/t gold at Yukon project

Strategic Metals Ltd. [SMD-TSXV; SMDZF-OTC] shares rallied Wednesday August 21 after the company announced partial results from the first two phases of its 2019 exploration program at the Mount Hinton property, which is located in the southern portion of the Keno Hill District of central Yukon.

The property covers an extensive system of high-grade gold and silver-rich quartz veins and breccias, situated four to 15 kilometres by road south east of Alexco Resources Corp.’s [AXR-TSX; AXU-NYSE] mill at Keno City.

Alexco’s key asset is the 100%-owned United Keno Hill Mine, which ranks as Canada’s second largest producer of silver, behind Cobalt, Ontario.

During an illustrious history, it produced 217 million ounces of the precious metal. Studies have indicated that the former mine is capable of producing 4.0 million ounces of silver in concentrate over a lifespan of eight years.

Strategic Metals is a project generator with interests in more than 120 properties. It also holds equity stakes in a number of Yukon and Nunavut exploration companies, including Atac Resources Ltd. [ATC-TSXV] and Rockhaven Resources Ltd. [RK-TSXV].

Strategic’s wholly-owned Mount Hinton property covers an 83 km2 area. The company has previously said that although silver mineralization is found in veins on the property, gold is the most significant component in many of the bedrock showings and float occurrences that have been discovered so far.

On Wednesday, Strategic Metals said the multi-phase 2019 program is designed to follow-up on promising gold values obtained from soils and rocks collected in 2018.

Phase one expanded soil sample coverage and initiated prospecting within the recently identified soil anomalies in the headwaters of a productive placer creek. Phase two involved geological mapping, more detailed prospecting, infill soil sampling and follow-up of rock samples collected during the first phase.

Highlights from phase one rock sampling include:

  • The discovery of a linear train of vein quartz and brecciated vein, extending 230 metres northeasterly from a talus sample that assayed 2,340 g/t gold and 597 g/t silver to an outcrop of altered and oxidized breccia grading 33.3 g/t gold and 654 g/t silver.
  • The identification of a parallel train of vein quartz breccia, located 150 metres to the east, where float samples returned 6.11 g/t gold and 165 g/t silver; 1.64 g/t gold and 363 g/t silver, and 2.03 g/t gold and 306 g/t silver.

Strategic shares advanced on the announcement, rising 15.38% or $0.06 to 45 cents on volume of 404,100. The shares are currently trading in a 52-week range of 28 cents and 47 cents.

Strategic said prospecting during phase one of the exploration program focused on a 3.5 kilometre long by up to 1.5 kilometre wide gold-in-soil anomaly located on the eastern side of Granite Creek, where little to no rock sampling had previously been done.

Mapping and prospecting during phase two also discovered numerous other mineralized veins elsewhere with the Granit Creek drainage.

The company said phase three of the 2019 program will include excavator trenching, road construction and more mapping and prospecting. “This work will commence later this month and continue until freeze-up,” the company said.

Yukon junior mourns tragic loss of talented geologist

ATAC Resources Ltd. [ATC-TSXV] said Thursday August 8 that it is mourning the loss of its exploration vice-president, Julia Lane, one of the casualties in a fatal aircraft accident in the Yukon on August 6, 2019.

The company said the C208 Caravan aircraft, operated by Alkan Air of Whitehorse, Y.T., was lost during a routine flight from ATAC’s Rackla Gold Project to Mayo, Yukon. The aircraft’s 24-year-old pilot Shawn Kitchen was also among the casualties.

“First and foremost, our hearts go out to the family and friends of both Julia and Shawn for the tragic losses. Julia was a consummate professional in everything she did and a true inspiration to aspiring geologists,” said ATAC President and CEO Graham Downs.

“We are absolutely devastated by this tragedy. Julia was truly a rising star in the industry and a close friend,” added Rob Carne, former ATAC President and Chairman of the company’s Technical Committee.

Lane was a University of British Columbia graduate, who began working with ATAC in 2009 as senior project geologist for the Rackla Gold Project. “Her exemplary abilities in balancing mineral exploration and project management were immediately recognized and she took on more responsibility,” the company said.

Carne will assume the oversight of exploration and technical duties for ATAC on an interim basis.

ATAC is focused on developing Canada’s only Carlin-style gold district and intrusion-related polymetallic targets at the 1,700 km2 Rackla property.

It has been widely reported that companies like Barrick Gold Corp. [ABX-TSX; GOLD-NYSE] and Newmont Mining Corp. [NEM-NYSE] have been attracted by the geological similarities between parts of the Yukon, and the fabled Carlin gold trend in Nevada.

It is why Barrick has acquired a 19.9% stake in ATAC and formed a strategic partnership with the junior on a section of its Rackla gold property known as the Orion Project. However, Barrick elected late last year to drop the earn-in option that was potentially worth $55 million.

Orion is one of three separate projects located on Rackla. The other two are the Osiris and Rau.

An inferred resource of 1.68 million ounces (grading 4.23 g/t gold) has already been outlined on the Osiris Project. The Osiris inferred resource includes a pit constrained mineral resource containing just over 1 million ounces of gold at 4.08 g/t.

Osiris was discovered in 2010 through follow-up stream sediment sampling of highly anomalous arsenic values from the Yukon Government database. The discovery holes intersected 65.20 m of 4.65 g/t gold. Four zones make up the 12 km2 Osiris cluster. They include Conrad, Osiris, Sunrise, and Ibis. Of the four, Conrad is the most advanced.

This year the company has switched its attention to the Rau Project. The company said exploration at Rau this year is focused on the eastern side of the 660 km2 project, and is designed to follow up on gold, copper silver and tin anomalies identified in 2018. Work completed to date includes prospecting, soil sampling, geologic mapping, rotary air blast (RAB) drilling and ground based induced-polarization and magnetometer geophysical surveying, the company said.

Downs has said he hoped that systematic exploration at the Rau Project will lead to a meaningful discovery.

On Thursday, ATAC shares eased 5.17% or $0.015 to 27.5 cents. The shares are trading in a 52-week range of 17.5 cents and 60 cents.

White Gold Corp. Extends High-Grade Mineralization at Golden Saddle 205m from Previous Mineralization…

… and also within the Conceptual Pit Boundary including 3.59 g/t Gold over 68.0m and Identifies Multiple Continuous High-Grade Structures at Vertigo including 11.64 g/t Gold over 5.34m

White Gold Corp. [TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W] (the “Company”) is pleased to provide an update on its fully funded $13 million 2019 exploration program, announcing initial diamond drilling results on its recent high-grade Vertigo discovery and on its flagship Golden Saddle deposit, located in the prolific White Gold District in Yukon, Canada. This first phase of diamond drilling was designed to test the geometry of the Vertigo target and previously underexplored portions of the Golden Saddle deposit and surrounding area. The ongoing 2019 exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC) 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 various other properties across the Company’s expansive land package.

Highlights Include:

  • Initial assays from the 2019 drill program present strong first diamond drill results on the Vertigo target and are among the best results to date at the Golden Saddle deposit.
  • All Vertigo diamond drill holes to date intersected gold mineralization and have identified a minimum of 6 high-grade mineralized structures. Each structure displays strong continuity from surface to over 250m down-dip and remains open in all directions.
  • Diamond drilling on the Golden Saddle locally extended the GS Main zone 205m down dip from historic drilling, approximately doubling the down dip extension in the area which previously only extended to 165m; added additional mineralization above the previously modeled ore body; and infilled several strategic gaps in the resource model. Diamond drilling on the GS West successfully proved continuity of the deposit both along strike and down dip, expanding the modelled mineralization beyond the envelope included in the Company’s 2019 mineral resource estimate.
  • Golden Saddle: Hole WHTGS19D0198 returned 3.59 g/t Au over 68.0m from 73m depth, including 8.11 g/t Au over 13.6m from 77m depth, and 2.31 g/t Au over 10.56m at 179m depth. Hole WHTGS19D0212 returned 4.85 g/t Au over 27.5m from 38m depth, including 6.58 g/t Au over 9.0m from 51m depth.
  • Vertigo: Hole JPRVER19D0015 returned 0.42m of 141 g/t Au within a broader envelope of mineralization that averaged 11.64 g/t Au over 5.34m from 3m depth and 18.46 g/t Au over 2.48m from 92m depth. Hole JPRVER19D0005 returned 9.61 g/t Au over 4.15m from 20m depth, including 94.2 g/t Au over 0.32m from 21m depth. Hole JPRVER19D006 returned 6.89 g/t Au over 1.22m from 4.66 depth, and 20.15 g/t Au over 1.75m from 104.5m depth.
  • Additional exploration activity continues across the White Gold, JP Ross and multiple other regional properties, with related soil sampling, prospecting, GT Probe sampling, trenching and RAB/RC drilling results 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 pleased with the initial results from our ongoing diamond drill program. At the Vertigo we have confirmed the existence of multiple structures with high-grade gold mineralization that display strong continuity along strike and at depth. These results are very encouraging for an initial diamond drill program and validate our current interpretation for the Vertigo. We look forward to receiving additional results from the Vertigo drill program and from ongoing exploration work on additional targets across the JP Ross property,” stated Jodie Gibson, VP Exploration. “The initial results at Golden Saddle are among the best holes drilled to date and significantly expand the high-grade mineralization within and beyond the current Golden Saddle resource boundary. This is all alongside our regional exploration program, which continues to generate a strong pipeline of exciting new targets further demonstrating the district scale opportunity across our unique portfolio of assets.”

Golden Saddle

The Golden Saddle, including the GS Main, GS Footwall and GS West zones, consists of a series of subparallel zones trending NE-SW and dipping to the NW at approximately 55 degrees with mineralization occurring along faults, fractures and breccia zones in an overall normal to strike-slip structural regime. Together, the zones define mineralization over 1,500m strike length and up to 725m down dip. This includes a continuous high-grade core of mineralization >3 g/t Au on the GS Main that is up to 50m true-thickness and traceable over 500m of strike length and from surface up to 530m down-dip.

Results have been received for 4 infill holes in the central portion of the deposit targeting significant gaps in the resource model on the GS Main zone. The results of the holes received to date show strong potential to refine and add additional tonnage to the existing resource model through strategic infill drilling on the Golden Saddle. Additionally, one step-out hole was drilled on the northwestern margin of the deposit. The reported assay results ranged from trace to 14 g/t Au. Significant results received to date are detailed below.

Drilling Highlights:

WHTGS19D0198

Hole x198 is located between historic holes WD-021, WD-030, and WGGS10D0115 and targeted a gap in the high-grade core (>3 g/t Au) on the GS Main zone. The gap in the model was controlled by adjacent historic hole WD-030, approximately 25m to the southwest of x198. WD-030 returned 2.1 g/t Au over 7m before the mineralization was truncated by a narrow lens of sheared serpentinite at the projection of the GS Main (1). Hole x198 targeted the GS Main adjacent to the sheared serpentinite and intersected 3.59 g/t Au over 68m from 73m depth, including 8.11 g/t Au over 13.60m from 77m depth.

In addition to the GS Main, the hole intersected two additional zones. The upper zone is in the hanging wall above the GS Main and returned 4.48 g/t Au over 3m from 22m depth. The lower zone was within a GS Footwall lens and returned 2.31 g/t Au over 10.56m from 179m depth.

(1)                  See Underworld Resources News Release dated June 23, 2009. Available on SEDAR.

WHTGS19D0199

Hole x199 is located 52m to the west of x198 and also targeted a gap in the high-grade core on the GS Main associated with historic hole WD-030. Hole x199 intersected 4.07 g/t Au over 9.30m from 88m depth, including 7.81 g/t Au over 2.3m from 95m depth, associated with the GS Main. Two additional GS Footwall zones were intercepted, including 1.51 g/t Au over 7.83m from 158.8m depth and 1.41 g/t Au over 8.8m from 292m depth.

WHTGS19D0210

Hole x210 is located 270m northwest of hole x199 and targeted a down-dip extension of the GS Main in a previous undrilled portion of the Golden Saddle. The hole returned 1.71 g/t Au over 12.69m from 242.12m depth, including 3.07 g/t Au over 5.81m from 249m depth, and expanded the down-dip projection of the GS Main 205m from the limits of historic drilling and beyond the limits of the resource, approximately doubling the down-dip projection in that area.

WHTGS19D0211

Hole x211 is located at the same pad as x199 and drilled at an azimuth of 120o, targeting an especially broad zone of mineralization in the geologic model to better understand the geometry of mineralization in this important portion of the deposit. The hole returned 2.46 g/t Au over 65m from 115.15m depth; including 4.23 g/t Au over 17m from 128m depth and 5.53 g/t Au over 3m from 170m depth refining and increasing the thickness of mineralization in that area.

WHTGS19D0212

Hole x212 is located 90m to the east of hole x198 and infilled an area near the surface projection of the GS Main between historic holes WD-024, WD-038, WD-091, & WD-095. The hole returned 4.85 g/t Au over 27.45m of from 37.55m depth, including 6.58 g/t Au over 9m from 51m depth. The upper portions of the hole were mineralized with anomalous gold grades (>0.1 g/t Au) from surface and incorporating this material the overall composite is 2.27 g/t Au over 64m from 1m depth. The previous geologic model of the GS Main cut by hole x212 underestimated the width of mineralization in the area and excluded up to 25m of >3 g/t Au material from previous resource calculations.  To date we have received assays for the upper portion of hole x212 and assays the lower 170m of the hole are in progress.

The results of the holes received to date show strong potential to refine and add additional tonnage to the existing resource model through strategic infill and step out drilling on the Golden Saddle. Continued evaluation of the resource model is in progress and additional infill holes may be recommended on areas with the potential to upgrade the existing resources.

GS West

The GS West was discovered in 2018 and is located approximately 750m west and on trend with the GS Main and contributed an estimated 62,500oz (1,339,000 tonnes @ 1.45 g/t Au) to the Company’s recently announced resource update(2). The initial 2019 drilling on the GS West was designed to step-out in all directions and evaluate the geometry of the GS West zone beyond the limits of the current resource estimate.

Mineralization on the GS West is hosted within a strongly sheared felsic orthogneiss unit with abundant coarse-grained potassium feldspar augens. The mineralization is similar to Golden Saddle and consists of disseminated to fracture controlled pyrite associated with moderate to strong sericite-clay alteration. Based on the drilling conducted to date the mineralization appears to be strongest near contacts of the orthogneiss of with overlying mafic gneiss/schist units (amphibolite) and/or a lower meta-sedimentary package of banded biotite quartz gneiss. The felsic orthogneiss unit adjacent to these contacts is commonly pervasively sericite altered with localised zones of brecciation and minor quartz veining and up to 5% pyrite mineralization.

(2)                  See White Gold Corp. News Release dated June 10, 2019. Available on SEDAR.

Drilling Highlights:

WHTGS19D0200

Hole x200 is located on the western end of the GS West and is a 55m step-out along strike to historic hole WGAR11D0025. The hole returned 1.00 g/t Au over 25.85m from 14.15m depth, including 1.40 g/t Au over 12m from 12m depth with anomalous mineralization (>0.1 g/t Au) continuing for an additional 26.88m below the reported intercept. Including this anomalous zone, the hole returned an overall intercept of 0.64 g/t Au over 52.73m from 14.15m depth.

WHTGS19D0201

Hole x201 is located from the same pad at x200 above and returned two closely spaced intercepts of 1.21 g/t Au over 7m from 11m depth and 1.06 g/t Au over 17.55m from 25m depth. The lower 17.55m interval also included intercepts of 1.78 g/t Au over 2m from 26m depth and 1.43 g/t Au over 5.55m from 1.43m depth.

WHTGS19D0206

Hole x206 is located 104m to the northeast of x205 and was targeting the projection of the GS West approximately 140m down-dip of hole WHTGS18D0184. The hole returned 0.82 g/t Au over 12.1m from 229.9m depth, including 1.79 g/t Au over 3.1m from 229.9m depth. This zone occurs within a 43m envelope (210 – 253m) of anomalous mineralization with values ranging from 0.02 – 2.46 g/t Au.

*True thickness estimated at 80 – 95% of the reported intervals. Holes not listed above contained no significant values.
**Awaiting assays for bottom of hole.

Vertigo

The initial diamond drilling program on the Vertigo consists of 3 widely spaced fences (Sections VER-000, 100W, & 200W) that transect across the core of the Vertigo target area to establish geometry as well as vertical and lateral continuity on mineralized structures, previously intersected by 2018 RAB/RC drilling. The fences consist of 4 – 6 diamond drill set-ups per fence, spaced approximately 110m apart, with two holes drilled per set-up at angles of 45o and -60o. To date, over 5,700m have been drilled on the Vertigo over 23 holes. Results have been received for the first 11 holes (JPRVR19D0005 – 0015) and the drilling results will be discussed per fence/section.

Based on assays received to date, at least 6 subparallel structural zones have been defined and can be traced from surface to over 250m down-dip along individual structural zones. The envelope of alteration and mineralization along the structures varies down dip and ranges from 0.5m – 30m in thickness. The grade profile varies down-dip along individual structures and is anticipated to vary along strike as is common in high-grade, structural controlled, gold deposits. The results are currently being interpreted to project individual zones laterally, across section, and to follow up on interpreted plunge directions on the thickest and highest-grade zones of mineralization.

Gold mineralization on the Vertigo is hosted within a series of high angle, south dipping, structures associated with multiple phases of quartz-sericite-carbonate alteration with quartz veining and brecciation. Disseminated to semi-massive arsenopyrite-galena-pyrite and locally, visible gold occurs with the mineralized zones and the mineralization shows a strong correlation with Ag-Pb-Bi. Assay values for the results received to date range from trace to 141 g/t Au. Select samples from the mineralized intervals have been selected and are currently being re-analyzed using a Metallic-Screen analysis due to the presence of coarse visible gold.

The mineralized structures transect 3 lithologic packages consisting of an upper package of fine-grained biotite-quartz-feldspar gneiss (felsic gneiss) and amphibolite gneiss; a middle package of mafic schist, amphibolite, muscovite schist, and banded quartz biotite gneiss; and a lower unit of medium to coarse grain biotite-quartz-feldspar gneiss. Mineralization currently appears preferential to the upper felsic gneiss package with the highest-grade portions at or near lithologic contacts, however, additional assays are required to fully evaluate this relationship. Significant results are detailed below.

Section VER-000

JPRVR19D0005 & 6

Holes x005 & 6 were drilled from the same pad and are located in the center of the section VER-000. Hole x005 was drilled at a -45o dip and intercepted 4 gold bearing zones with the most significant consisting of 9.61 g/t Au over 4.15m from 20m depth; including 94.2 g/t Au over 0.32m from 21m depth.

Hole x006 was drilled at a -60o dip and intercepted 4 gold bearing zones with the most significant consisting of 6.89 g/t Au over 1.22m from 4.66m depth; 9.58 g/t Au over 1.1m from 24.92m depth; and 20.15 g/t Au over 1.75m from 104.5m depth; including of 36.2 g/t Au over 0.5m from 105.75m depth.

Section VER-100W

JPRVR19D0007 & 8

Holes x007 & 8 were drilled from the same pad and are located 110m to the south of holes x005 & 6 on section VER-000. Hole x007 was drilled at a -45o dip and intercepted 4 gold bearing zones with the most significant consisting of 51.4 g/t Au over 0.75m from 14.85m depth.

Hole x008 was drilled at a -60o dip and intercepted 4 gold bearing zones with the most significant consisting of 1.17 g/t Au over 1.4m from 81.6m depth and 1.64 g/t Au over 1m from 91.75m depth.

JPRVR19D0010 & 13

Holes x010 & 13 were drilled from the same pad and are located 115m to the west of holes x005 & 006 on section VER-100. Hole x010 was drilled at a -45o dip and collared into a 27m zone of strong alteration with 3 gold bearing zones with the most significant consisting of 36.2 g/t Au over 0.7m from 6.4m depth.

Hole x011 was drilled at a -60o dip and collared into a 31m zone of strong alteration with 3 gold bearing zones with the most significant consisting of 3.48 g/t Au over 0.57m from 7.28m depth and 1.69 g/t Au over 2.5m from 16.5m depth.

JPRVR19D0015 & 16

Holes x015 & 16 were drilled from the same pad and are located 105m to the south of holes x010 & 013 on section VER-100. Hole x015 was drilled at a -45o dip and intercepted two zones of high-grade mineralization. The upper zone returned 141 g/t Au over 0.42m from 6.2m depth within a halo of mineralization that averaged 11.64 g/t Au over 5.34m from 3m depth. The lower intercept returned 18.46 g/t Au over 2.48m from 92m depth and projects on trend with mineralization intercept at the tops of holes x010 & x013.

*Interpretation of the results is ongoing and there is not currently  enough information to estimate true thickness of the mineralized zones. Holes not listed above contained no significant values.

QA/QC

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(3) of 3.4M 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. For more information visit www.whitegoldcorp.ca.

(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.

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.

Contact Information:

David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@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”, “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.

Rockhaven hopes to raise $4 million for Yukon gold project

Rockhaven Resources Ltd. [RK-TSXV] said Friday August 2 that it is moving to raise up to $4 million to fund exploration at its Klaza gold project in the Yukon Territory.

In keeping with that plan, Rockhaven said it has arranged a private placement that will consist of the following:

  • Up to seven million units priced at 12 cents each, for gross proceeds of $840,000. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at 20 cents for a period of 60 months from the date of closing.
  • Up to 18 million structured flow-through units priced at 17 cents each for gross proceeds of up to $3.06 million. Each structured flow-through unit consists of one flow-through common share and one share purchase warrant. Each warrant will have the same terms as the 20-cent warrants.

On Friday, Rockhaven shares were unchanged at 13 cents. The shares are currently trading in a 52-week range of $0.085 and 18.5 cents.

Rockhaven’s key asset is the wholly-owned Klaza Project, located in the Dawson Range Gold Belt of southern Yukon and hosts one of the highest-grade gold deposits ever found in the territory.

Rockhaven recently announced an updated resource estimate for the high-grade Western BRX, Central BRX, Central Klaza and Western Klaza zones. The project contains an indicated resource of 686,000 ounces of gold and 14 million ounces of silver (or 907,000 ounces of gold equivalent.

Inferred resources now stand at 507,000 ounces gold and 13.9 million ounces of silver (725,000 ounces of gold equivalent.

The updated resource estimate, announced in June, 2018, included results from approximately 13,300 metres of in-fill and expansion diamond drilling completed subsequent to the previous estimate in 2015.

The resource estimate and recent metallurgical test work have highlighted multiple priority targets for further resource expansion and definition, the company has said.

“The Klaza Project hosts high-grade gold and silver resources that are near surface, road accessible and located within one of the safest mining jurisdictions in the world,” said Rockhaven CEO Matt Turner.

Klaza hosts a large hydrothermal system that is concentrated within a 4-km long by 3-km wide structural corridor. The company said current mineral resource areas have only been systematically explored to a depth of about 275 metres, but well mineralized intersections occur as deep as 450 metres.

Eleven known mineralized zones have been identified within the corridor and all are open for expansion along strike and to depth. The deposit model for the Klaza deposit suggests the zones could be well mineralized to depths of 1,000 metres or more below surface, the company has said.

Fireweed CEO pleased with zinc recoveries

Fireweed Zinc Ltd. [FWZ-TSXV; FWEDF-OTC] said Wednesday July 31 that testing results show 85% zinc recoveries are achievable at its Macmillan Pass zinc-lead-silver project in the Yukon Territory.

The company said that level of recovery was reported during an initial pre-concentration test using state-of-the art X-ray fluorescence (XRF) ore sorting technology on samples extracted from the project’s Boundary Zone.

The results are based on bench-scale test work conducted at the University of British Columbia on 436 rock samples representing a range of variability in the lithologies and grade distribution at the Boundary Zone. They suggest that it may be possible to significantly pre-concentrate low-grade material and reduce the processing costs at Boundary Zone with an XRF sorting system.

Typically, an XRF sorting system utilizes an XRF sensor to distinguish and measure surface metal abundances on rock pieces moving on an enclosed conveyor belt unit. XRF readings for each individual rock are then analyzed by high speed discriminating software to distinguish and flag rocks with metal values above and below a set threshold.

At the end of the conveyor belt, focused high pressure air jets or mechanical levers then separate the designated higher-grade rock pieces for processing and reject low-grade and waste pieces.

Fireweed shares advanced on the news, rising 6.56% or $0.04 to 65 cents. The shares are currently trading in a 52-week range of 56 cents and $1.39.

Located in the eastern edge of the Yukon, 350 km northeast of Whitehorse, Macmillan Pass is thought to be one of the world’s leading undeveloped zinc projects. According to a NI 43-101 technical report, the project hosts an indicated resource in the Tom and Jason zones of 11.21 million tonnes of 9.61% zinc equivalent or 6.59% zinc, 2.48 g/t silver, including 1.63 billion pounds of zinc, 610 million pounds of lead and 7.69 million ounces of silver.

On top of that is an inferred resource of 39.47 million tonnes of 10% of zinc equivalent, including 5.845 zinc, 3.14% lead, 38.15 g/t silver or 5.08 billion pounds of zinc, 2.73 billion pounds of lead and 48.41 million ounces of silver.

A preliminary economic assessment announced in May, 2018, says that material can sustain a mining operation for 18 years, one where average yearly contained metal production would be 85,000 tonnes of zinc, 48,000 tonnes of lead and 2 million ounces of silver.

The total project cost is estimated to be $1.05 billion, including pre-production capital expenditures of $404 million.

Fireweed has been working to demonstrate that Macmillan Pass is truly a district scale project, one that could eventually be a source of feed for a British Columbia smelting complex held by Teck Resources Ltd. [TECK.B-TSX; TECK-NYSE] in Trail, BC, the Canadian mining giant which recently increased its stake in Fireweed to 9.9%.

The project’s Boundary Zone is a discrete bulk-tonnage, advanced exploration target located 15 km northwest of the Jason zinc-lead-silver deposit.

In practical terms, the results released on Wednesday show potential to upgrade feed material from the test feed grade of 2.5% zinc to approximately 5%, with recovery of 80-85% of the zinc at low cost.

“These are excellent ore sorting results that have the potential to significantly impact the overall economics of the Macmillan Pass Project,” said Fireweed CEO Brandon Macdonald. “These results suggest that we may be able to reject 50% to 70% of the low-grade waste rock at low cost near a potential open pit operation at Boundary with less than 15% loss of zinc mineralization before material is transported to a central processing plant at Tom,” he said.

Macdonald went on to say that the company has begun the next step and moved a drill to Boundary to both confirm and step out from historic holes, as well as obtain a two-tonne sample to confirm that the ore sorting results released on Wednesday can be obtained on a larger scale and to provide additional material for metallurgical testing.

“If the larger test is successful, we can then incorporate the benefits of an XRF ore sorting system at Boundary into a revised PEA economic study along with upgraded information from recent drilling at Tom, Jason and End zones,” Macdonald said.

Capstone sells Minto mine to Pembridge for $20m

Capstone Mining Corp. (TSX: CS) announced Tuesday it has entered into an agreement to sell its 100% interest in the Minto copper mine to Pembridge Resources PLC (LON:PERE). Located about 240km north Whitehorse in Canada's Yukon territory, the Minto mine is currently on care and maintenance.

Contingent on certain conditions, mainly that the mine reaches commercial production, Capstone will receive up to $20 million in installments from Pembridge for the sale.

Following the Minto sale, Capstone says it will shift its focus on the company's other operations, including completing the strategic process for its 70%-owned Santo Domingo copper-iron project in Chile. Its other assets are two producing mines: the Pinto Valley mine located in Arizona and the Cozamin polymetallic mine in Zacatecas state, Mexico.

Shares of Capstone Mining rose by nearly 4% on Tuesday morning. The company has a market capitalization of approximately $163 million.

 

 

 

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