White Gold Corp. (TSX.V: WGO) (OTC – Nasdaq Intl: WHGOF) (FRA: 29W) is pleased to provide an update on its fully funded $9 million exploration program and announce initial diamond drilling results. The 2018 program is designed to expand on and discover new resources on its flagship White Gold property as well as test several regional targets on its extensive land package representing approximately 40% of the White Gold District in Yukon, Canada. The initial phase of the diamond drilling program was designed to explore previously underexplored portions of the Golden Saddle deposit. Images to accompany this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
David D’Onofrio, Chief Executive Officer stated, “Our 2018 drill program is off to an excellent start with overall production ahead of schedule and all drill crews operating extremely efficiently. The initial assay results are very encouraging, showing strong continuity of the high-grade deposit. We are looking forward to receiving assays from the rest of the drilling at the Golden Saddle and on our regional exploration targets in due course.”
White Property Exploration Update
To date, a total of 31 diamond drill holes (10,300m) and 14 RC drill holes (2,300m) have been completed on the White Gold property. Priority targets have included infill and deep drilling on the Golden Saddle and Arc deposits designed to expand the mineralization and gather metallurgical information as well as to explore various near surface gold targets along trend of the Golden Saddle. Results will be released in due course.
The initial diamond drill holes tested underexplored portions of the Golden Saddle & Arc deposits where there are gaps in the current resource block-model. Each drill hole intersected zones of gold mineralization with grades that exceed the grade seen in nearest historic drill holes. Assay values for the drill holes ranged from trace to 27.5 g/t Au and true widths estimated to range from 70 – 95% of the reported intercepts. Significant results are detailed below.
Hole WHTGS18D0174 infilled a 100m gap between historic holes WD-091(1) (3.68 g/t Au over 91.28m; including 4.95 g/t Au over 45.25m) and WD-070(2) (3.5 g/t Au over 50.5m; including 4.32 g/t Au over 29m). The Golden Saddle Main zone was intersected at 139m depth and returned 3.69 g/t Au over 40m; including 5.58 g/t Au over 24.4m. The hole also intersected a zone of 1.34 g/t Au over 8.0m located above the GS Main at 47m depth. The upper zone was unexpected and indicates the potential for a previously unrecognized new zones of mineralization above the Main Zone.
(1) See Underworld Resources News Release UW2009-NR19 dated Oct. 19, 2009 and available on SEDAR
(2) See Underworld Resources News Release UW2009-NR15 dated Sept. 10, 2009 and available on SEDAR
Hole WHTGS18D0175 was drilled from the same pad as WHTGS18D0174 at a dip of -89o and infills an 80m gap between holes WD-070(2) (3.5 g/t Au over 50.5m; including 4.32 g/t Au over 29m) and WD-071(2) (0.71 g/t over 25m). The hole returned an upper intercept of 1.05 g/t Au over 30.94m from 179.06m depth and a lower intercept of 4.6 g/t Au over 44.9m from 218m depth; including 8.57 g/t Au over 17m from 223m depth.
Hole WHTGS18D0176 infills a 95m gap between holes WD-016(3) (3.38 g/t Au over 14.17m; including 5.97 g/t Au over 6.67m) and WD-052(4) (3.92 g/t Au over 38m; including 7.51 g/t Au over 17.5m). The hole returned 6.89 g/t over 32m from 171m depth; including 11.08 g/t Au over 18.42m and 20 g/t Au over 4m from 188.58m depth.
(3) See Underworld Resources News Release UW2008-NR9 dated Sept. 24, 2008 and available on SEDAR
(4) See Underworld Resources News Release UW2009-NR14 dated Aug. 6, 2009 and available on SEDAR
Hole WHTAR18D0027 infills a 75m gap between holes WD-057(2) (0.63 g/t Au over 15m) and WD-058(2) (1.04 g/t Au over 34.5m). The hole returned 1.61 g/t Au over 18.45m from 102.15m depth and a lower intercept of 1.14 g/t over 4m from 217m depth.
Hole WHTAR18D0028 infills a 90m gap between holes WD-017(3) (1.47 g/t Au over 29m) and WGAR11D0008(5) (1.08 g/t Au over 16.2m). The hole returned 1.74 g/t Au over 10m from 99m depth and a lower intercept of 2.73 g/t over 3m from 117m depth.
(5) See Independent Technical Report for the White Gold Project, Dawson Range, Yukon, Canada by Gilles Arseneau, P.Geo. dated Sept. 15th, 2017 and available on SEDAR
Mineralization on the Golden Saddle associated with quartz veining, brecciation, and disseminated to fracture-controlled pyrite and, locally, visible gold within strongly quartz-sericite-illite altered felsic orthogneiss and amphibolite gneiss. Mineralization on the Arc consists of brecciation and quartz veining with fined grained, sooty, sulfide mineralization and graphite within quartzite.
|Hole ID||Target Area||From(m)||To(m)||Int(m)||Au(g/t)|
Regional Exploration Update
A total of 70 RAB drill holes, 1,383 GT Probe samples, 28.2 line-km of IP-Resistivity surveys, 2,112 line-km of airborne DIGHEM surveys, and 10,310 soil samples have been completed to date on the Betty, Hayes, JP Ross, Pedlar, Thor, Pilot, Wells and Black Hills properties. Analysis for the work is currently in progress and results will be presented in due course.
White Gold Property
The property has a current mineral resource of 960,970 ounces Indicated at 2.43 g/t gold and 262,220 ounces Inferred at 1.70 g/t gold, with mineralization on both the Golden Saddle and Arc known to extend beyond the limits of the current resource estimate and remain open in multiple directions.
About White Gold Corp.
The Company owns a portfolio of 19,606 quartz claims across 30 properties covering over 390,000 hectares representing approximately 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 262,220 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. Geologic models in this area conceptually include an estimated seven million to 10 million tonnes grading between one g/t to 1.5 g/t gold. 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. (disclosed M&I gold resource of 4.1M oz) and Western Copper and Gold Corporation’s Casino project (disclosed P&P gold reserves of 8.9M oz Au and 4.5B lb Cu). The Company has outlined an aggressive exploration plan to further explore its properties. For more information visit www.whitegoldcorp.ca.
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 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 a quality assurance/quality control program consisting of the regular insertion of certified standards and blanks into the sample stream. The qualified person detected no significant QA/QC issues during review of the data.
Jodie Gibson, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under NI 43-101 and has reviewed and approved the content of this news release.
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