White Gold Corp. (TSX.V: WGO) (OTC – Nasdaq Intl: WHGOF) (FRA: 29W) is pleased to announce that high-grade gold mineralization has been discovered at shallow depths on multiple drill holes on the Ryan’s Showing Target, located along trend with the Company’s flagship Golden Saddle deposit 2 KM to the west. The drill holes were completed using Reverse Circulation drilling which is used by the Company to drill shallow, sub-200m holes more cost efficiently than traditional exploration. The drilling was part of the Company’s 14,500m drill program focused on expansion of the existing gold resource on the White Gold property. This program includes expansion of the Golden Saddle deposit and exploration of nearby targets such as the Ryan’s Showing. A diamond drill will be moved to the discovery site to perform additional exploration. Images to accompany this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
“We are very excited about the discovery of a significant new high-grade gold zone 2 KM from the Golden Saddle. We have recognized the potential of satellite deposits near the Golden Saddle which would have the potential to greatly increase the size of the Company’s resource,” stated Jodie Gibson, VP Exploration of the Company. “This is one of many promising targets on the White Gold property tested this year and we are looking forward to the additional results in due course.”
Ryan’s Showing Target, White Gold Property
The Ryan’s Showing is located approximately 2km west of the Golden Saddle deposit on the White Gold property and consists of gold in soil anomalies (trace to 1576 ppb Au) associated with a distinct east-west oriented, north dipping, structure visible in Lidar imagery, DIGHEM, and IP-Resistivity. One historic drill hole(1) in the area (WGRS11D0003) was drilled subparallel to the structural trend approximately 200m north west of WHTRYN18RC0001 which returned 6.34 g/t Au over 6.56m from 159.44m depth; indicating the potential for high grade mineralization in the area which has been confirmed by holes WHTRYN18RC0001 and WHTRYN18RC0002. The area along trend from the Golden Saddle deposit to the Ryan Showing has been historically unexplored. In 2018, the Company has performed some additional exploration along trend and results will be released in due course.
Discovery Drill Holes
Four drill holes totalling 681.22m were completed on the Ryan’s Showing this year. WHTRYN18RC001 returned 6.10m of 20.64 g/t Au from 83.82m depth, with individual assays in the zone ranging from 7.07 to 39.8 g/t Au. WHTRYN18RC002 is located 100m west of WHTRYN18RC001 and returned 13.72m of 5.02 g/t Au from 121.92m depth; including 4.57m of 9.25 g/t Au from 123.44m depth. The current geologic interpretation indicates that neither WHTRYN18RC003 & 004, located approximately 150m to the west and northwest of WHTRYN18002, respectively, were drilled deep enough to intersect the mineralized structure(s). The reported RC holes were drilled at a 180o azimuth and -60o dip.
Follow-up diamond drilling is planned for the target and will be commenced during the 2018 season.
Significant drill results from the Ryan Showing are detailed in the table below.
|Hole ID||Target Area||From(m)||To(m)||Int(m)||Au(g/t)|
There is not currently enough information to estimate true thickness of the mineralization at this time.
The White Gold Property is located 95km south of Dawson City, Yukon. The property’s 1,792 claims totaling 34,951 hectares are 100% owned by the Company. The property has an airstrip, barge access, and a fully operational 100-person camp. The Yukon Resource Gateway Project funded by the federal and territorial governments will provide year-round road access to the property.
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. 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.
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 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.
Canarc Resource Corp. (TSX:CCM) (OTCQB:CRCUF) (Frankfurt:CAN) ann... READ MORE
Mako Mining Corp. (TSX-V: MKO) is pleased to report further posit... READ MORE
Surge Exploration Inc. (TSX-V: SUR) (OTC: SURJF) (FRA: DJ5C... READ MORE
FIORE GOLD LTD. (TSX-V: F) (OTCQB: FIOGF) is pleased to announce ... READ MORE
Marathon Gold Corporation (TSX: MOZ) is pleased to report an addi... READ MORE