White Gold

White Gold Corp (V.WGO | OTC. WHGOF) operates in the White Gold District of the Yukon which has seen gold discoveries of approximately 7 Million Oz since 2007. There have been major acquisitions and investments by GoldCorp, Kinross and others. White Gold Corp. owns a portfolio of 19,606 quartz claims across 30 properties, totaling 390,000 hectares (approximately 40% of the district).

For more information see White Gold’s website here.

TMX Money stock price for V.WGO

 

 


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Excellent Article on White Gold

Our friends at the Northern Miner have a great backgrounder article on White Gold. In it White Gold CEO David D’onofrio is quoted as saying,

“What I love is we’re seeing that our thesis is playing out,” he says. “We’re having success, and the more success we have the more we learn, and the more confident we’re becoming in the probability of future discoveries.”

“We have a lot going on. This company is set up for the next 30 years, and we’re just scratching the surface now. What we have is akin to owning 40% of the Timmins camp 40 or 50 years ago.”

Northern Miner

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White Gold Corp. Commences Exploration on Vertigo Discovery and Newly Identified Targets along Vertigo Trend on JP Ross Property

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to announce it has commenced its $13 million fully funded 2019 exploration program on its extensive 439,000 hectare land package, representing over 40% of the prolific White Gold District in Yukon, Canada. A total of 17,000m of diamond drilling and 7,500m of Reverse Circulation (“RC”) drilling is expected this season as part of the Company’s systematic data driven exploration plan backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC).  Exploration activity has commenced on the JP Ross property focusing on expanding the footprint of the recent Vertigo discovery and other newly identified high priority targets along the 14km Vertigo Trend.

A map outlining the targets on the JP Ross property can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

Highlights Include:

  • Detailed soil sampling performed in 2018 has proven effective to highlight known mineralization on the Vertigo discovery and also identified several new targets on the Vertigo Trend and across the JP Ross property associated with regional scale structures, demonstrating the potential for multiple mineralized systems. These areas and will be followed up with the GT Probe and other work to further assess the size and intensity of the anomalies and define 2019 drill targets.
  • GT Probe sampling has commenced on the road accessible Vertigo focused on expanding the footprint of the discovery. The GT Probe will also be testing the other targets recently defined on the JP Ross property which demonstrate strong similarities to Vertigo.
  • RC drilling scheduled to commence in early May on the JP Ross property focused on expansion of the Vertigo along strike. An additional 4 to 5 target areas are expected to have RC drilling as follow up to the GT Probe program.
  • Diamond drilling is anticipated to commence in June on the Vertigo discovery. 10,000m of diamond drilling is planned on the Vertigo to evaluate geometry as well as the lateral and vertical continuity of mineralized structures discovered in 2018.

“2018 was a very successful year for White Gold, producing multiple brand-new discoveries including the Vertigo, which returned some of the most significant drill intercepts ever encountered in Yukon.” stated David D’Onofrio, Chief Executive Officer. “We are very excited to have kicked off our 2019 program deploying the GT Probe which has proven to be highly effective in defining drill targets and was instrumental in all four of our discoveries in 2018.  We are eager to follow up on the Vertigo, and test other nearby targets defined late last season through detailed soil sampling, which demonstrate similar geochemical and structural signatures to the Vertigo. We are equally as excited to continue expanding both our flagship Golden Saddle deposit and the recently acquired VG deposit, and to follow up on our other 2018 discoveries, and to test our new high priority regional targets for the first time in 2019. Our recent successes have provided us further confidence in our highly specialized exploration methodologies, and we believe this could be our most exciting program to date.”

Vertigo Exploration
The Company has deployed the GT Probe on the new high-grade, road accessible, Vertigo discovery on its JP Ross property – one of four new gold discoveries made in 2018. The Vertigo consists of a series of W-NW trending, steeply south dipping structures identified over a 650m wide corridor that was traced over 300m through RAB/RC drilling in 2018. The overall system has been traced a further 1,700m to the west through soil sampling, prospecting and geophysical surveys. The GT Probe work will initially focus on the western extension of the Vertigo and is designed to evaluate the footprint of the system and define high priority targets for follow up RC drilling, which is expected to initiate in early May. The GT Probe is a proprietary track-mounted rig designed to take samples from the soil-bedrock interface, resulting in sampling that is both cost effective and with minimal environmental impact.

The combination of GT Probe sampling and detailed infill soil sampling led the Company to the discovery of the Vertigo in 2018. Furthermore, it highlighted the potential for previously unrecognized narrow (<10m) zones of high-grade material (>10 g/t Au) that would have been overlooked using traditional exploration methodologies.

The Vertigo is one of the Company’s most significant discoveries from the 2018 exploration season, with drilling highlights including, Hole JPRVERRAB18-014/JPRVERRC18-013 intersecting 22.47 g/t Au over 30.46m from surface ending in mineralization; Hole JPRVERRAB18-001 intersecting 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; Hole JPRVERRAB18-006 intersecting 103.90 g/t Au over 1.53m within a broader intercept of 31.35 g/t Au over 6.10m from surface. Multiple high-grade grab samples were also encountered including 304.3 g/t, 156.2 g/t and 139.9 g/t among others.

New Targets on the JP Ross Property
The GT Probe will be also utilized across the JP Ross property to follow up on several high priority targets defined through detailed soil sampling in 2018. Results from the GT Probe and other specialized exploration activity completed on the targets will guide follow up RAB/RC drilling. Details regarding the initial high priority targets to be tested is outlined below:

Topaz

  • Located immediately south of the Vertigo and road accessible.
  • Consists of a series of NE and NW trending gold in soil anomalies over a 500m x 1,500m area with values ranging from trace to 284ppb Au.
  • Similar geochemical signature to the Vertigo (Au-Ag-Bi-Pb+/-As).
  • Rock samples from area returned grades up to 2.79 g/t Au.

Sabotage Trend

  • Located 7.5km northwest of the Vertigo.
  • Consists of multiple zones of anomalous Au in soils over a 1.5km x 5km NE trending area with values from trace to 1,908.3 ppb Au.
  • Detailed infill soil sampling focused on a 450m x 500m area within the Sabotage area in 2018, and returned discreet E-NE and NW trending gold in soil anomalies with values from trace to 295.3 ppb Au.
  • At least 12 other target areas along the Sabotage trend will be detail soil sampled in 2019 with follow up GT Probe and other exploration work as warranted.

Frenzy Trend

  • Located 8.5km north of the Vertigo and road accessible.
  • Consists of a series of gold in soil anomalies over a 1.5km x 3.5km N-NE trend with values ranging from trace to 1,141.6 ppb Au.
  • Detailed infill soil sampling focused on two areas along the Frenzy Trend in 2018. The first covered a 450m x 500m area near the southern end of the trend and returned both NE and NW trending gold in soil anomalies with values from trace to 623.4 ppb Au. The second was at the northern end of the trend covering a 400m x 450m area and returned a N-S trend gold in soil anomaly over the length of the grid with values from trace to 492.8 ppb Au.
  • Detailed soil sampling to be completed on at least 6 other target areas along the Frenzy Trend in 2019, with follow up GT Probe and other work as warranted.

Additional detailed soil sampling will also be conducted on multiple other target areas on the JP Ross property including Suspicion (4.5km SE of Vertigo), Stage Fright (9.5km NW of Vertigo; adjacent to Sabotage), Psycho (6km NE of Vertigo), and Xman (12km N-NE of Vertigo) with follow up GT Probe sampling, geophysical surveys, prospecting, and trenching as warranted.

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 960,970 ounces Indicated at 2.43 g/t Au and 282,490 ounces Inferred at 1.70 g/t Au 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(1) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(1) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.

  1.  Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

Qualified Person
Jodie Gibson, P.Geo., Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include:; expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca

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White Gold Corp. Announces Fully Funded $13M Exploration Program Focused on Vertigo Discovery, Further Increasing Golden Saddle and VG Gold Resources and New Gold Discoveries

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to announce its fully funded 2019 exploration program on its extensive 439,000 hectare land package, representing over 40% of the prolific White Gold District in Yukon, Canada.

The 2019 exploration program, budgeted at approximately $13M, has been designed to follow up on the Company’s new high grade Vertigo discovery on its JP Ross property (the “JP Ross Program”), expand the Golden Saddle and Arc resources with diamond drilling on the GS West discovery and other nearby targets (the “White Gold Program”), increase the recently acquired 230,000 oz VG resource (4.4 million tonnes grading 1.65 g/t gold Inferred resource at a cut-off of 0.5 g/t gold) on its QV property, as well as to identify and test high priority regional targets (the “Regional Program”). Backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC) the 2019 exploration program is planned to commence in the coming weeks.

A map outlining the Company’s 2019 work program can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

Shawn Ryan, Chief Technical Advisor stated, “2019 will be one of the most exciting seasons for White Gold and has the potential to be a transformative year for us. Our systematic regional exploration approach is working exceptionally well and resulted in four new discoveries last year (the Vertigo, GS West, Ryan’s Surprise and Betty Ford). This year’s program will also feature diamond drilling on the Vertigo discovery to expand this new unique style of high-grade gold mineralization. Concurrently, the regional program on the JP Ross Property will follow up on multiple other highly anomalous gold targets near the Henderson Creek drainage system where placer gold mining has been taking place since the turn of the century, and will continue to utilize detailed soil sampling, GT probe and RAB drilling to hone in on high-probability targets, which we anticipate will lead to more new discoveries. The Golden Saddle deposit will be moved along with more diamond drilling on the GS West and Ryan’s Surprise discoveries. The recently acquired VG deposit will undergo drilling to expand the known resources and we will be applying our proprietary regional exploration program to advance some of our other priority targets.  All and all this should be our best season yet.”

Highlights Include:

  • Vertigo Target: 10,000m diamond drill program designed to evaluate geometry as well as the lateral and vertical continuity of mineralized structures discovered in 2018. Additional reverse circulation (“RC”) drilling to evaluate strike potential of mineralization based on field mapping, geochemistry and geophysics.
  • JP Ross regional activity to include evaluation and initial drill testing of 4 to 5 additional target areas on 14km trend.
  • Golden Saddle deposit to be expanded with 4,500m of diamond drilling conducted on GS West discovery, with 1,500m of infill and step-out drilling on Arc deposit.
  • Regional activity on the White Gold property to include evaluation and initial testing of 3 to 4 additional regional targets with RC/RAB drilling.
  • Regional exploration activities on other properties to include over 15,000 soil samples, 1,000 GT probe samples, geologic mapping and prospecting, IP-Resistivity, LiDAR and other baseline exploration work for the continued identification and building of targets.
  • Initial work including GT Probe sampling set to commence in April 2019 with diamond drilling anticipated to commence in May 2019.

The JP Ross Program

Exploration on the Vertigo discovery is expected to include over 7,500m in diamond drilling across the entire currently defined 2km Vertigo trend to define the geology, geometry and continuity of the system, with an additional 2,500m for follow up drilling on key zones identified within the system to test plunge lines and alternative geometries. An RC drill will also be used to test the continuity of mineralization along strike to build additional targets for future diamond drilling.

Additional exploration is expected to be conducted along the 14km Vertigo Trend and JP Ross property at large, with the focus of this work to build up several additional target areas through soils, GT Probe, geophysics, other exploration activities and first pass RAB/RC drill testing as warranted.

Initial work including GT Probe sampling is set to commence in April with diamond drilling anticipated to commence in mid-to-late May, with a full camp to be built on site to support the program.

The Vertigo target is a new, road accessible, discovery on the JP Ross property which is comprised of 2,850 quartz claims covering over 57,000 hectares with at least 14 known target areas and numerous placer gold bearing creeks

To date, at least 12 mineralized structures are recognized on the Vertigo target over a 1500m x 650m area, and consist of W-NW trending, steeply dipping zones of quartz veining, brecciation, and fracture-controlled mineralization with disseminated to vein-controlled pyrite-arsenopyrite-galena and, locally, visible gold mineralization.

Highlights from 2018 include, Hole JPRVERRAB18-014 intersecting 23.44 g/t Au over 24.38m from surface ending in mineralization; Hole JPRVERRAB18-001 intersecting 56.25 g/t Au over 3.05m within a broader intercept of 17.34 g/t Au over 10.67mfrom 3.05m depth; Hole JPRVERRAB18-011 intersecting 45.00 g/t Au over 3.05m from 1.52m depth, within a broader intercept of 9.65 g/t Au over 15.2m and surface grab samples of 139.9 g/t, 134.6 g/t and 132.9 g/t over a 685m strike length.

The White Gold Program

Exploration activities on the White Gold property are planned to include over 6,000m in diamond and an expected 25 holes of RC/RAB drilling, with diamond drilling focusing on the GS West discovery area with minor infill and step-out drilling on the Arc deposit based on updated geological modelling, while RC/RAB drilling will test high priority targets on the White Gold for potential future diamond drilling. Other exploration activities will include LiDAR, GT Probe, soil sampling, geophysics and geologic mapping, all conducted to evaluate and define additional drill targets on the property.

Reopening of the Thistle camp is currently underway with drilling activities anticipated to commence by mid-May.

The White Gold property has a current mineral resource of 960,970 ounces Indicated at 2.43 g/t Au and 262,220 ounces Inferred at 1.70 g/t Au, with mineralization on both the Golden Saddle and Arc known to extend beyond the limits of the current resource estimate and believed to remain open in multiple directions.

Golden Saddle highlights from 2018 include, Hole WHTGS18D0175 intersecting 4.6 g/t Au over 44.9m from 218m depth, including 8.57 g/t Au over 17m from 223m depth and Hole WHTGS18D0193 intersecting 3.95 g/t Au over 68m from 210m depth, including 5.42 g/t Au over 47.3m.

The GS West discovery is a shallow mineralized zone open at depth and along strike, located 750m to the west of the Golden Saddle deposit along the structural trend.  All three holes drilled in 2018 hit Golden Saddle style alteration and mineralization with the most significant results from WHTGS18D0184 returning 1.92 g/t Au over 24m from 117m depth, including 2.97 g/t Au over 10m from 118m depth, and 8.12 g/t Au over 1.95m from 121.05m depth.  

The Regional Program

The 2019 Regional Program will focus on high priority targets that have been identified in the 2018 and prior seasons, and will include over 1,000 GT Probe samples and 15,000 soil samples. Additional exploration activity to prepare and better understand the Company’s other targets will include airborne magnetic surveys, LiDAR surveys, drone surveys, IP-Resistivity surveys, geologic mapping and prospecting. The regional exploration will be conducted across multiple of the Company’s properties.

QV Property – VG Zone

Included in the Company’s Regional Program is 1,000m of diamond drilling focused on testing strike extensions of the historically underexplored VG resource located on the QV property, recently acquired from Comstock Metals.

Large portions of the property remain unexplored, which leaves a strong potential for the discovery of additional zones of structurally-controlled and/or intrusion-related mineralization, with several currently unexplored known targets with similar characteristics to the Golden Saddle and Vertigo.  Approximately 4,300m of diamond drilling over 23 holes has been conducted on the VG to date. Of these, only 17 diamond drill holes formed the basis of a 2014 maiden resource estimate(1) of 230,000 oz of gold (4.4 million tonnes grading 1.65 g/t Au) in the Inferred category at a cut-off of 0.5 g/t Au.

The VG resource is open along strike and at depth, and has similar mineralization and structural control to the nearby Golden Saddle deposit. The QV property is 16,335 hectares (40,000 acres) and contiguous to the Company’s White Gold property which hosts its Golden Saddle and Arc deposits, 20 km southwest of the Vertigo discovery on its JP Ross property and 44 km northwest of Goldcorp Inc.’s (TSX: G, NYSE: GG) Coffee project. The resource and property were acquired by White Gold Corp from Comstock Metals in early 2019.

For further details regarding the acquisition of the VG resource and QV property, please refer to the press release of the Company dated March 1, 2019 available on SEDAR at www.sedar.com.

  1. See Comstock Metals Ltd. technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, available on SEDAR

Regional Exploration Program activities are anticipated to include exploration activity on the following targets:

Betty Property
The Betty property covers the eastern extension of the Coffee Creek fault, which hosts the Coffee deposit owned by Goldcorp Inc., and hosts a 12km trend of anomalous gold in soils (trace to 7,288 ppb Au); intrusion-related and structurally controlled styles of mineralization. Highlights of drilling completed at the Betty Ford target include Hole BETFRDRAB18-002 returning 1.08 g/t Au over 50.29m from 4.57m depth, including 2.24 g/t Au over 9.41m from 19.81m depth with the top 25.91m of the hole showing oxidized mineralization and additional shallow mineralization encountered in other holes along trend. Highlights at the Betty White target included gold mineralization intersected in every hole, with individual results ranging from trace to 3.61 g/t Au. Gold mineralization encountered across multiple target areas highlights the large-scale potential of the mineralized system, with additional targets remaining undrilled.

Black Hills Property
Road accessible property located adjacent to the JP Ross Property on the east. There exist numerous untested gold in soil anomalies that are coincident with the regional-scale structures that cut through the property, with soil assays ranging from trace to 1,594 ppb Au.

Dime Property
Located 70km to the south-west of Dawson City, YT, with the claims bordering numerous historic mineral occurrences and placer gold bearing creeks. At least 3 untested gold in soil anomalies are known (Dime West, Dime Central, & Polaris) on the property that warrant follow up work; with soil values ranging from trace to 6,082 ppb Au. The targets are associated with a regional scale structure and the overall geologic setting and geochemistry of the area is very similar to the Vertigo discovery, located 40km to the SE.

Nolan Property
Located 50km west of Dawson City, YT with claims covering multiple placer gold bearing creeks. Numerous gold in soil anomalies on the southern end of the property that have yet to be investigated; with soil values ranging from trace to 968 ppb Au. This includes the Hart Mt. area, which contains two robust targets, including Hart South a 2,000m by 400m trend with soil values ranging up to 539 ppb Au, as well as Hart East which measures 2,500m by 900m and yielded values ranging up to 399 ppb Au. Additionally, prospecting in the Hart area returned grab samples of epithermal-style quartz veins that returned from trace to 0.172 g/t Au, trace to 1,467 g/t Ag, and trace to 10.63% Pb.

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 960,970 ounces Indicated at 2.43 g/t Au and 282,490 ounces Inferred at 1.70 g/t Au 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(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.

  1.  Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

Qualified Person
Jodie Gibson, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 (“NI 43-101”) and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include:; expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties;; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca

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White Gold Corp. Closes Acquisition of QV Gold Project; Includes 230,000 Oz Gold Inferred Resource Contiguous to the White Gold Property and Compelling New Targets

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company“) is pleased to announce the closing of the previously announced purchase (the “Acquisition”) of the QV Gold Project (the “Property”) from Comstock Metals Ltd. (TSX.V: CSL) (the “Vendor”). The Property covers 16,335 hectares (40,000 acres) in the White Gold District of the Yukon Territory, bringing the Company’s total holdings in the White Gold District to 439,000 hectares (1,080,000 acres). The Property is contiguous to the Company’s White Gold property which hosts its Golden Saddle and Arc deposits (960,970 oz indicated and 282,490 oz inferred), 20 km southwest of the Company’s new Vertigo Discovery on its JP Ross property and 44 kilometres northwest of Goldcorp Inc.’s (TSX: G, NYSE: GG) Coffee project. The Company plans to incorporate the Property in its 2019 exploration plan which will be announced in due course. 2019 marks the third year of the Company’s systematic and data driven regional exploration program backed by it partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC).

“This was a very strategic acquisition for us that immediately increases our global resources with a 230,000 oz Inferred gold deposit which is open along strike and at depth, and has similar mineralization and structural control to our nearby Golden Saddle deposit. The property also has a number of very compelling exploration targets with many similarities to our recent Vertigo discovery, as well as the Golden Saddle deposit,” said David D’Onofrio, Chief Executive Officer. “We are very excited with the potential for near term resource expansion and new discoveries on this property based on our extensive experience in the District.”

To learn more about White Gold’s recent developments and plans for 2019, please join us at our 2019 PDAC corporate presentation on Tuesday, March 5 at 3:00PM in Room 802 at the Metro Toronto Convention Centre or visit us at Booth 3248.

Photos accompanying this announcement are available at

http://www.globenewswire.com/NewsRoom/AttachmentNg/fff72d17-918f-4351-8a06-c2bf6c2df757

http://www.globenewswire.com/NewsRoom/AttachmentNg/fe70b7c0-1c6b-4d5f-a64f-8bbdc4d54e7c

Maps & images providing additional information on the Property can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

The QV Gold Project
The Vendor optioned the QV Property from Shawn Ryan in 2010 and discovered the VG Zone deposit (the “VG”) in 2012 on the southern end of the Property where most of the historic work has been focused. Approximately 4,300 metres of diamond drilling over 23 holes have been conducted on the VG to date. Of these, 17 diamond drill holes formed the basis of a 2014 maiden resource estimate(1) of 230,000 ounces of gold (4.4 million tonnes grading 1.65 g/t gold) in the Inferred category at a cut-off of 0.5 g/t gold.

The mineralization is hosted along a NE trending, gently south dipping structural zone that has been traced for over 700m at surface and consists of disseminated to vein-controlled pyrite with brecciation, stockwork quartz-carbonate veining, and sericite alteration. The VG shares strong similarities to the Golden Saddle deposit both in structural setting as well as mineralization style and is open along strike and at depth. Highlights from historic drilling includes, QV12-001(1): 1.03 g/t Au over 78m; incl. 6.15 g/t Au over 5.6m, QV12-004(1): 2.23 g/t Au over 42m, QV12-006(1): 1.45 g/t Au over 60m, QV13-011(1): 1.36 g/t Au over 42.6m, QV13-012(1): 1.76 g/t Au over 42.3m, QV17-018(2): 1.42 g/t Au over 45.5m, QV17-019(2): 1.48 g/t Au over 51.2m.

The most recent work on the Property occurred in 2017 and included six diamond drill holes on the VG which expanded the footprint of known mineralization beyond the limits of the historic resource calculation. Significant results from the 2017 program included 1.42 g/t gold over 45.5m from 67.5m down hole in hole QV17-018, which expanded the mineralization 125 metres down dip from previous drilling, and 1.48 g/t gold over 51.2m from 98m down hole in hole QV17-019, which expanded the mineralization 45m west of previous drilling.

Additional work on the Property has included soil sampling, GT Probe sampling, trenching, IP-Resistivity surveys, airborne magnetic-radiometric surveys, geological mapping/prospecting and minor RAB drilling. This work has defined other compelling targets with similarities to the Company’s Golden Saddle deposit and recently discovered Vertigo zone warranting follow up exploration including the Stewart, Tetra and Shadow zones.

Stewart Zone: Located 5km N-NW of the VG and consists of a 1.5km, E-W, trending gold in soil anomaly, with values from trace to 274.1 ppb Au and anomalous Bi-Ag-Te-Mo. The target occurs adjacent to a Jurassic intrusive that may be associated with mineralization in the area.

Tetra Zone: Located 8km N of the VG and consists of a 1.5km, E-W, trending gold in soil anomaly, with values from trace to 151.5 ppb Au. The target occurs along an interpreted E-W oriented fault based on magnetic data for the area and is open and unexplored to the west.

Shadow Zone: Located 12 km north of the VG zone and consists of multiple gold in soil anomalies, ranging from trace to 514ppb Au and up to 2.7km long, associated with a series of NW and ENE trending structures. Strongly anomalous Ag-Pb-Bi+/-As+/-Mo also occur in the area, and the overall geochemical and structural setting is similar to the Company’s Vertigo discovery 23km to the west.

Large portions of the Property also remain unexplored with strong potential for the discovery of additional zones of structurally-controlled and/or intrusion-related mineralization.

The Property is subject to a 2.0% underlying net smelter return royalty (NSR), of which 1.0% may be purchased for $2,500,000. Annual cash advance payments of $25,000, deductible against the royalty, are payable until commencement of commercial production.

As determined in accordance with NI 43-101 the Property is not considered “material” to the Company relative to the size and stage of development of the Company’s existing portfolio of properties, and accordingly the disclosure in section 2.4 of NI 43-101 is not required.

Terms of the Acquisition
In order to acquire the Property, the Company made a cash payment of $375,000 and issued an aggregate of 1,500,000 common shares (the “Subject Shares”) and 375,000 share purchase warrants (“Warrants”) in accordance with the instructions of the Vendor.  Each Warrant is exercisable to acquire one additional common share of the Company for a period of three years from the closing date of the Acquisition (the “Closing Date”) at an exercise price of $1.50.  All securities issued and issuable in connection with the Acquisition are subject to a statutory hold period expiring on June 29, 2019.  In addition, the Subject Shares are subject to a voluntary hold period pursuant to which (i) 35% of the Subject Shares shall be released on the date which is four months following the Closing Date; (ii) 35% of the Subject Shares shall be released on the date which is eight months following the Closing Date; and (iii) the balance of the Subject Shares shall be released on the date which is twelve months following the Closing Date.

Advisors and Counsel
Red Cloud Klondike Strike Inc. acted as financial advisor to the Vendor and Folger, Rubinoff LLP acted as the Vendor’s legal advisor. Cassels Brock & Blackwell LLP acted as legal advisor to White Gold Corp.

  1. See Comstock Metals Ltd. technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, available on SEDAR
  2. See Comstock Metals Ltd news release dated Dec. 18, 2017, available on SEDAR

For further details regarding the Acquisition, please refer to the press release of the Company dated January 14, 2019 available on SEDAR at www.sedar.com.

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 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 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.

  1.  Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

Qualified Person
Jodie Gibson, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 (“NI 43-101”) and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to the completion of the Acquisition; the anticipated benefits to the Company, the Vendor and their shareholders respecting the Acquisition; 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 and/or the Vendor to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company and Vendor relating to the Acquisition; expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties; the receipt of all applicable regulatory and third party approvals, as required, for the Acquisition; 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 each of the Company and Vendor. Although the forward-looking statements contained in this news release are based upon what management of the Company and Vendor believe, or believed at the time, to be reasonable assumptions, the Company and Vendor 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. Neither the Company nor the Vendor undertakes any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca

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White Gold Corp. Further Expands Golden Saddle Deposit Geological Model Drilling 3.26 g/t Gold Over 35m, Defines New Gold Zones in the Hanging Wall and also Intersects Additional High-Grade Mineralization at Ryan’s Showing Discovery Demonstrating Structural Continuity

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company) is pleased to announce additional drill results from its Golden Saddle deposit and the new Ryan’s Showing discovery on its White Gold property, Yukon, Canada. Drilling on the Golden Saddle identified new zones of high-grade gold mineralization in the Golden Saddle Upper Zone (“GS Upper Zone”) which is above the Golden Saddle Main Zone (“GS Main Zone”). The drilling also added additional continuity to the geological model, infilling gaps and significantly increasing the thickness of mineralization in the GS Main Zone in certain areas.

Follow up drilling on the newly discovered Ryan’s Showing mineralized zone further defined the geometry and orientation of the mineralization of the discovery and infilled a 105m gap between the initial discovery holes, demonstrating continuity and providing a better understanding of the structural controls, which remain open along strike and at depth.

The Company is currently in the process of finalizing its fully funded 2019 exploration plan with details to be released in due course.

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

Highlights Include:

  • Drilling above the GS Main Zone demonstrates strong potential for a series of additional mineralized zones within the hanging wall (GS Upper Zone) that were not previously recognized as most of the historic drilling on the target was oriented sub-parallel to these zones.
  • Golden Saddle hole WHTGS18D0196 returned two significant zones of mineralization: 2.39 g/t Au over 34m from 31m depth (GS Main Zone) and 1.62 g/t Au over 19m from 265m depth (GS Footwall Zone); expanding the width of the GS Main Zone by approximately 60% in this area and demonstrating additional downdip continuity along the GS Footwall Zone.
  • Golden Saddle hole WHTGS18RC0022 returned 3.26 g/t Au over 35.05m from 160m ending in mineralization (GS Main Zone), including 5.69 g/t Au over 16.76m, expanding the width of the GS Main Zone by approximately 60% in this area.
  • Additional drilling on the Golden Saddle infilled several historical gaps in the geological model and also expanded mineralization in the geological model in each location.
  • Ryan’s Showing hole WHTRS18D0006returned two significant zones of mineralization: 4.52 g/t Au over 6.06m from 179m depth and 1.32 g/t Au over 10.00m from 200m depth, infilling a previous 105m gap between the initial discovery holes showing greater continuity.
  • Drilling on Ryan’s Showing further defined the shape and orientation of mineralization, providing valuable information to define the geological model and direct follow-up drilling on the target, which remains open along strike and at depth.

“Our 2018 program on the Golden Saddle deposit focused on building ounces through expansion of the known deposit and the discovery of satellite deposits in the immediate vicinity. We are extremely pleased to have had considerable success on both fronts, expanding the footprint of the Golden Saddle, building the thickness and grade of mineralization within the resource boundary, as well as making the significant GS West and Ryan’s Showing discoveries along trend with Golden Saddle,” stated David D’Onofrio, Chief Executive Officer. “The proximity of the GS West to the Golden Saddle and high-grade results on the Ryan’s Showing make them both very compelling targets which warrant follow-up drilling.  We believe that we are just beginning to define these satellites of the Golden Saddle deposit and are very optimistic for the prospects for these new discoveries to add ounces to our global resources, and for the potential of additional discoveries along trend and in close proximity to our Golden Saddle deposit.”

Golden Saddle Drilling Update
Results for an additional three diamond drill holes and five reverse circulation (“RC”) drill holes have been received for the Golden Saddle. Diamond drill holes WHTGS18D0195 & 196 and RC holes WHTGS18RC0020 – 0024 were drilled in fences across the Golden Saddle deposit area oriented to the SW; oblique to the primary trend of mineralization. The drilling was conducted to improve geologic modelling of the deposit and test for mineralization along lithologic contacts and/or structures perpendicular to the main body of mineralization; particularly in the hanging wall of the deposit (GS Upper Zone). Individual assays for the drilling range from trace up to 18 g/t Au.

The drilling at Golden Saddle successfully demonstrates strong potential for a series of shallow NW trending, steeply NE dipping zones of mineralization within the hanging wall of Golden Saddle, above the GS Main zone. These zones appear to be occurring along lithologic contacts oriented oblique to the primary trend (NE) and dip (~55°) of mineralization with the GS Main Zone, and were not previously recognized as most of the historic drilling on the target was oriented sub-parallel to these contacts. Geologic modelling of these additional zones is currently in progress to ensure they are adequately captured in future resource updates on the project.

Significant drill results from the Golden Saddle included in this release are detailed in the table below.

Hole IDTarget AreaFrom(m)To(m)Int(m)Au(g/t)
WHTGS18D0195Golden Saddle81.4082.451.055.29
And 89.0095.386.381.44
And 148.00166.8318.851.99
Incl. 152.00155.003.005.85
And 353.55356.002.453.82
WHTGS18D0196Golden Saddle31.0065.0034.002.39
Incl. 37.0061.4724.473.21
Incl. 44.3549.004.657.37
And 265.00284.0019.001.62
Incl. 276.00284.008.002.44
WHTGS18RC0021Golden Saddle161.54196.6035.050.73
Including161.54173.7412.191.40
Including167.64169.161.524.34
WHTGS18RC0022*Golden Saddle160.02195.0735.053.26
Including169.16185.9316.765.69
Including169.16173.744.578.08
And181.36185.934.579.59
WHTGS18RC0024Golden Saddle36.5841.154.570.99
And102.11118.8716.762.84
Including102.11112.7310.673.34
Including102.11103.631.529.74
 *Hole ended in mineralization

The reported mineralized intercepts range from an estimated 65 – 95% true thickness.

WHTGS18D0195 (Az:225, Dip: -50, Depth: 441m)
WHTGS18D0195 was drilled 150m SW of previously announced hole WHTGS18D0193 (3.95 g/t Au over 68m from 210m depth, including 5.42 g/t Au over 47.3m from 225.7m). The hole returned mineralized intercepts of 5.29 g/t Au over 1.05m from 81.40m depth, and 1.44 g/t Au over 6.38m from 89m depth (GS Upper Zone); 18.85m of 1.99 g/t Au from 148m depth, including 5.85 g/t Au over 3m from 152m depth (GS Main Zone) and 3.82 g/t Au over 2.45m from 353.55m depth (GS Footwall Zone).

WHTGS18D0196 (Az:225, Dip: -50, Depth: 310m)
WHTGS18D0196 was drilled 130m SW of WHTGS18D0195 and returned 2.39 g/t Au over 34m from 31m depth; including 3.21 g/t Au over 24.47m from 37m depth and 7.37 g/t Au over 4.65m from 44.35m depth (GS Main Zone). An additional zone of 1.62 g/t Au over 19m from 265m depth was also intercepted (GS Footwall Zone). The hole infilled a 65m previous gap in the geological model between WD-092 & WD-009 and expanded the geologic model by 14m in the area.

WHTGS18RC0021 (Az:225, Dip: -60, Depth: 201.17m)
WHTGS18RC0021 was drilled 75m to the SW of WHTGS18RC0020. The hole cut three lithologic contacts down the hole and ended immediately above the GS Main Zone. Similar to WHTGS18RC0020, alteration and anomalous mineralization was noted at each contact, strengthening down the hole it approached the GS Main Zone. The most significant intercept consisted of 12.19m of 1.40 g/t Au from 161.54m depth within a broader interval of 35.05m of 0.73 g/t Au.

WHTGS18RC0022 (Az:225, Dip: -60, Depth: 195.07m)
WHTGS18RC0022 was drilled 75m to the SW of WHTGS18RC0021. The hole intersected the GS Main Zone at 160.02m depth and returned 35.05m of 3.26 g/t Au; including 16.76m of 5.69 g/t Au from 169.16m depth; ending in mineralization at 185.93m depth. The hole infilled a 55m previous gap in the geological model between WD-016 & WHTGS18D0176 and expanded the width of the geologic model by 15m in the area.

WHTGS18RC0024 (Az:225, Dip: -60, Depth: 201.17m)
WHTGS18RC0024 was drilled 75m to the SW of WHTGS18RC0023. The hole returned two significant intercepts including 0.99 g/t Au over 4.57m from 36.58m depth within the hanging wall above the GS Main Zone and 16.76m of 2.84 g/t Au from 102.11m depth; including 1.52m of 9.74 g/t Au; from the GS Main Zone. The hole infilled a 75m previous gap in the geological model between WD-036 & WHTGS17RC0005.

Ryan’s Showing Update
The Ryan’s Showing is located approximately 2km west of the Golden Saddle. It is a newly discovered mineralized zone associated with an east-west oriented, steeply south dipping, structure as shown in LiDAR imagery, DIGHEM and IP-Resistivity, which remains open along strike and at depth and demonstrates the potential for multiple mineralized structures. Five diamond drill holes were placed in the area to follow up on previously announced RC results which included 20.64 g/t Au over 6.10m on WHTRS18RC0001 and 5.02 g/t Au over 13.17m on WHTRS18RC0002. Individual assays ranged from trace up to 6.64 g/t Au.

Significant drill results from Ryan’s Showing are detailed in the table below.

Hole IDTarget AreaFrom(m)To(m)Int(m)Au(g/t)
WHTRS18D0006Ryan’s Showing178.94185.006.064.52
And 200.00210.0010.001.32
WHTRS18D0008Ryan’s Showing281.00282.551.551.82
WHTRS18D0009Ryan’s Showing315.25316.000.752.03

There is not currently enough information to estimate true thickness of the mineralization at this time. 

WHTRS18D0006 (Az:180, Dip: -50, Depth: 257m)

WHTRS18D0006 was drilled between RC holes WHTRS18RC0001 and WHTRS18RC0002, infilling a 105m gap between the two holes. Five zones of strong brecciation and quartz veining were noted down the hole and ranged from 2 – 10m in width. All were associated with anomalous results. The two most significant zones returned 4.52 g/t Au over 6.06m from 178.94m depth and 1.32 g/t Au over 10.00m from 200m depth.

Geological Interpretation
Holes WHTRS18D0007 – 0010 were all drilled to the north and east of WHTRS18D006. Each hole intersected zones of alteration, brecciation, and quartz veining but only returned anomalous results (up to 2.03 g/t Au over narrow widths). These holes were drilled based on the interpretation that the mineralization intersected within RC holes WHTRS18RC0001 and WHTRS18RC0002 had a NE trending strike and moderate dip to the NW; similar to Golden Saddle. However, geologic modelling of the zone intersected by the RC holes and WHTRS18D0006 are related to an east-west trending, steeply south dipping, structure that corresponds with anomalous gold in soils and lineaments visible in LiDAR data at surface, and that other zones of alteration and brecciation intersected in the drilling are potential subparallel faults or splays from the primary structure.

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 total gold resource (1) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(1) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.

      (1)         Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

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 a quality assurance/quality control (QA/QC) 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.

Qualified Person
Jodie Gibson, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 (“NI 43-101”) and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements. 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) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the anticipated benefits to the Company and its shareholders respecting the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the White Gold, Betty and other properties; future growth potential of the Company, including whether any further mineral resources will be established in accordance with NI 43-101 at any of the Company’s properties; exploration results; and future exploration plans.

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: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the Betty, White Gold and other properties; failure to expand or identify any additional mineral resources; the preliminary nature of metallurgical test results; uncertainties relating to future financing; fluctuations in securities and currency markets and commodity prices; 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 (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); employee and indigenous relations; availability of necessary licenses, permits and approvals; 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; title to properties; and those factors described under the heading “Risks and Uncertainties” in the Company’s most recently filed management’s discussion and analysis. Although the forward-looking statements contained in this news release are based upon what management of the Company believes to be reasonable assumptions, t here 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. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(416) 643-3880
ir@whitegoldcorp.ca

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White Gold: Rolling up the Discoveries

In one sense, White Gold (TSX-V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) could be considered famed Yukon prospector Shawn Ryan’s project development company. Years ago, Ryan explored and staked swaths of the Yukon’s Dawson Range to the south of Dawson City.  The claims were optioned to many junior exploration companies. The companies went in, did the work, significant discoveries were made by some that led to take outs by majors like Kinross and Goldcorp, but unfortunately for others, they ran out of time and money, so all those claims reverted to Ryan. Shawn spent the next 3 years reviewing all the data, picking the best projects, assembling them and then partnered with PowerOne Capital to create White Gold Corp where all the properties were rolled into, with the goal of owning and exploring the entire land package systematically and with a regional view of the district.

As David D’Onofrio, White Gold’s CEO puts it, “We started out with over 30% of the district and $25 million worth of free work because when the options expired all the data came back to Shawn.”

With a million plus acres to explore, White Gold is confident it has a district scale opportunity. “We’ve seen three new gold deposits discovered in the district in recent times, two of which we have since been acquired and added to our portfolio totalling about 1.5 million ounces of gold” said D’Onofrio. “Discoveries come in clusters and the more discoveries you have, the greater the chances of additional nearby discoveries.”

In its most recent press release, White Gold announced its acquisition from Comstock Mining of the QV Gold Project D’Onofrio stated, “This property has a 230,000 oz gold deposit, a number of exciting targets, and has seen very limited exploration to date. 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. Also, 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.”

The fact that there is already a 230,000 oz gold resource (4.4 million tonnes grading 1.65 g/t gold) with only minimal work completed to date, is valuable to White Gold as this property is only 10km from White Gold’s flagship Golden Saddle deposit. However, it is the targets on the property with similarities to White Gold’s Vertigo discovery, and the opportunity to deploy White Gold’s Drones to Drills exploration strategy on these targets which really makes this an exciting acquisition.  White Gold will have full access to the data Comstock has already developed through soil sampling, GT Probe sampling, trenching, IP-Resistivity surveys, airborne magnetic-radiometric surveys, geological mapping/prospecting and minor RAB drilling. This data is already suggesting that the targets on the QV project are similar to the Golden Saddle deposit and the new discovery at Vertigo which saw grades up to 304 g/t gold just 20km to the west.

The key differentiator to the whole Dawson Range is that historically it was never glaciated. “This means that the soil sitting on top of the bedrock is directly indicative of what is underneath. Glaciers can displace this soil kilometres from its original position, so not having this issue makes it much easier for us to evaluate targets and plan our drilling. To capitalize on this we utilize a soil sampling approach that the company has successfully relied on in the area, as well as new technologies we have started to deploy to better understand the regional structures such as LiDAR,” said D’Onofrio. In fact, this non-glaciation has been a huge factor in the discoveries at the massive Coffee Project (Goldcorp) directly to the south of White Gold’s holdings, and the Golden Saddle which was initially acquired by Kinross, who then rolled it into White Gold Corp for their 20% interest in the Company.

District scale discoveries might be defined as a series of mineable deposits which share common geological features, yet each deposit will be different. This appears to be the case in the White Gold District. And what makes the opportunity so significant is that this whole district has only seen limited modern exploration, and its in a great mining jurisdiction – Canada. Yukon operators are blessed with a supportive government who has committed heavily to funding infrastructure in the area, including the Yukon Resource Gateway project. This is a $360 million dollar set of road upgrades to improve access to the Yukon’s mineral resources, and the first section to be built runs right through White Gold’s land position. Good road access radically improves the economics of any mine construction project.

In addition to its recent acquisition in the district, D’Onofrio was particularly interested in discussing the company’s new Vertigo discovery.

“At Golden Saddle we’ve seen consistent high-grade gold, but Vertigo is different,” said D’Onofrio. “We’re seeing high-grade grab samples up to 304 g/t and returning drill intercepts up to 22.47 g/t Au over 30.46m from surface along with excellent geophysical results over a full kilometer. To see these kinds of grades, at surface, 2 kilometres from an existing road is very promising – we’re seeing a huge ounce potential. On top of this, we’ve identified half a dozen other excellent targets along that trend that we’re excited to drill test.”

The rocks at Vertigo show visible gold, reminiscent of the Yukon gold rush of the 1890’s. While the Klondike River was the more talked about placer river of the gold rush, Henderson Creek which is in the watershed from Vertigo was actually the richer discovery. Real Jack London territory.

“We think we may have discovered the source of that placer gold,” said D’Onofrio.

Exploring a million plus acres of land is a challenging task. However, Shawn Ryan and Groundtruth Exploration, the exploration services company run by Shawn’s wife, Cathy Ryan, have systematized soil sampling, mapping, and RAB drilling on an almost industrial scale. When I visited the White Gold camp this summer, I watched their core shack in operation. While there was certainly conventional core, there was also a fascinating parallel process where, meter by meter, crushed samples were being processed using handheld XRF scanners with the results being logged in real time. This allows the geos to make first pass assessments of particular ground in hours rather than weeks. Meaning more ground could be covered, more targets identified and more discoveries made in the exploration season.

White Gold is unique in that it has two majors as strategic partners: Agnico Eagle and Kinross which collectively own 40% of White Gold. “We work with them in lockstep,” said D’Onofrio. “Our majors are not surprised by our discoveries as they share the same beliefs as us and are very pleased. They visit the site regularly and we plan together. They want to see us prove out our discoveries and they bring lots of expertise. They want us to succeed as we all want to build the next mining district in the Yukon.”

In fact, given the scope and scale of White Gold’s discoveries, there may be the opportunity to build several mines or develop several pits and leverage shared facilities. D’Onofrio is even more optimistic, “I believe there is the potential for 5 to 10 mines. You could truck ore from multiple deposits.”

White Gold has had no shortage of new discoveries this season, marking three more in addition to Vertigo. On the company’s Betty property, which is directly adjacent to Goldcorp’s Coffee project (also discovered by Shawn Ryan), the Company discovered more near surface Gold mineralization. This is hosted in the same fault structure as Coffee and is showing comparable grades. White Gold also discovered two satellite targets on trend with the Golden Saddle deposit – the GS West which is just 750m from its flagship Golden saddle deposit and the Ryan’s Showing returning 20.64 g/t Au over 6.10m. This all supports David’s theory that there is something very significant going on in this district.

For now, the company is going to continue to follow up on the targets it has identified and grow its existing deposits. 2018 was a big year for White Gold, and 2019 is looking to be even bigger.

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Cambridge Conference 2019 – #1

V.VIT, V.WGO,

In an era of internet communication and instant information why would you go to a conference? This is the challenge Cambridge House has to meet every year for its Vancouver Resources Conference.

This year the Cambridge Conference had the great advantage that the junior resource companies attending seemed to be up beat. After two years on the mat, the TSX-V is showing signs of life. Precious metals prices are a bit firmer. Governments are realizing the value of their mining companies.

Of course there was a lot of buzz around the Goldcorp/Newmont merger. Both these majors have taken and kept strategic positions in many junior explorers. With the merger it is not clear what will be done with these positions. So far neither company has said anything publicly on the question and, so far as I was able to tell, have not said anything privately either. However, a newly larger company is going to need big, solid, projects and for companies like Western Copper and Gold (V.WRN) which is sitting on a multi-million ounce gold/copper project in the Yukon, this may be a huge opportunity.

Other than looking at various company’s projects and actually meeting current and potential clients face to face, my objective was to have a few, off the record, chats with some of the companies motherlodetv.net has been following.

A lot of those companies were in a single aisle I called Yukon alley. John McConnell from Victoria Gold had the latest video from the Eagle project. It looked cold. Very cold. But the project is on schedule and John assured me that gold would be poured in September. I was also able to speak to Victoria Gold’s VP Exploration, Paul Gray about his discoveries at the Nugget target several miles away from the actual mine. Paul has always said that the Dublin Gulch property, geologically, is boringly consistent. Drill almost anywhere and you get a gram per ton or slightly better. But at Nugget trenching has produced 124 meters of 3.5 gpt. Geologists like to be wrong on the upside.

I’d been on the phone with Toronto based White Gold CEO David D’Onofrio on Friday afternoon so it was great to spend fifteen minutes with V.WGO director Bob Carpenter. D’Onofrio is a finance guy, Carpenter is a geologist to his fingertips. We talked about the fact that the White Gold ground likely holds five or six mineable deposits and maybe more. We also talked about the benefits of having two majors, Agnico Eagle and Kinross as strategic partners and being able to draw on their experience.

I broke away from the Yukon for a walk around the rest of the conference and spoke with Dustin Angelo CEO of Anaconda Mining (V.ANX). Anaconda has the great advantage of actually being a gold producer with its Point Rousse Project in Central Newfoundland producing 15-16,000 ounces of gold per year. Which, as Dustin explained, allows the company to find more reserves without having to go to the market for more financing.

(Part II of Cambridge shortly)

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Q&A White Gold: White Gold Corp to Acquire QV Gold Project from Comstock Metals

On January 14, White Gold Corp. (V.WGO) put out a press release detailing its acquisition of the QV Project from Comstock Metals Ltd.

White Gold Corp. CEO, David D’Onofrio, was recently interviewed about this acquisition.

 What makes this acquisition a good fit for White Gold?

There are a few aspects of the QV Gold Project that make it an excellent complement to our portfolio of properties in the White Gold District.

First, the 230,000 ounce gold deposit is a good addition to our existing resource at Golden Saddle & Arc and is the same style of mineralization as the Golden Saddle and only 10km away. Second, the property has had extremely limited exploration work to date, and the existing targets share many similarities with our assets including Golden Saddle and Vertigo. Additionally, our team already has extensive experience with the property, including Shawn Ryan, our Chief Technical Officer, who originally staked the property and optioned it to Comstock back in 2010; and Jodie Gibson, our VP of Exploration, who oversaw the discovery drilling of the VG zone deposit!

When the opportunity came up to acquire the property, we immediately jumped on it, and now we are very excited to expand the existing deposit, further advance the other known targets on the property, and deploy our experienced team on this underexplored property.

What kind of work has been completed on the QV property to date?

Most of the exploration to date has been on the VG Zone deposit, which is on the southern end of the property. The VG deposit has only seen approximately 4,300 metres of diamond drilling across 23 holes. 17 of the holes produced the original resource estimate in 2014 of 230,000 ounces of gold, and the remaining 6 holes were drilled in 2017 and were not included in the resources. The 2017 drilling included 1.42 g/t gold over 45.5m, which expanded the mineralization 125 metres down dip from previous drilling, and 1.48 g/t gold over 51.2m, which expanded the mineralization 45m west of previous drilling. Based on these results we are confident that there is significant unrealized potential to add ounces to this deposit.

Additional exploration work on the property has included soil sampling, trenching, geological mapping/prospecting, minor RAB drilling, and a mix of other only grass-root stage activities. The property still remains vastly underexplored and we’re looking forward to letting our exploration team get to work on maximizing the potential of this property.

What kind of drilling results have been produced on the project to date?

Despite the minimal drilling on the property to date, there have been some very significant results, with consistent intervals of 40 to 50 metres of over 1.0 g/t; and one hole up to 78 metres! Highlights include holes QV12-001: 1.03 g/t Au over 78m, including 6.15 g/t Au over 5.6m; QV12-004: 2.23 g/t Au over 42m; QV12-006: 1.45 g/t Au over 60m; and QV13-012: 1.76 g/t Au over 42.3m.

As mentioned, the 2017 drill program also had strong results which weren’t included in the resource, with QV17-018 producing 1.42 g/t gold over 45.5m, growing the mineralization 125 metres down dip from previous drilling. Also, QV17-019 with 1.48 g/t gold over 51.2m, which grew the mineralization 45m west of previous drilling.

What has really grabbed our attention is the similarities between targets on the property, such as the VG Zone deposit and Shadow target, and our existing properties. The VG Zone deposit shares the same structural setting and mineralization style as our nearby Golden Saddle deposit. Additionally, the exploration targets on the north of the property we’re acquiring have the same style of mineralization we saw at our recent Vertigo discovery. There are major opportunities for us to leverage these similarities to maximize the value of this new property.

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White Gold Corp to Acquire QV Gold Project from Comstock Metals Ltd; Includes 230,000 Oz Gold Inferred Resource on the VG Deposit Contiguous to the White Gold Property & High Priority New Targets

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company“) and Comstock Metals Ltd. (TSX.V: CSL) (“Comstock” or the “Vendor”) are pleased to announce that they have entered into a binding letter agreement dated January 11, 2019 pursuant to which the Company will purchase from the Vendor the property known as the QV Gold Project (the “Property”) subject to the terms and conditions therein (the “Acquisition”). The Property covers 16,335 hectares (40,000 acres) in the Yukon’s White Gold District, bringing the Company’s total holdings in the White Gold District to 439,000 hectares (1,080,000 acres). The QV Gold Project is contiguous to the Company’s White Gold property which hosts its Golden Saddle and Arc deposits, 20 km southwest of the Company’s Vertigo Discovery on its JP Ross property and 44 kilometres northwest of Goldcorp Inc.’s (TSX: G, NYSE: GG) Coffee project. The Company looks forward to incorporating the Property into its systematic and data driven regional exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC).

“The QV Gold Project is a strategic and attractive compliment to our large portfolio of high-quality assets in the White Gold District and also adds ounces to our existing gold resources at Golden Saddle and Arc,” stated David D’Onofrio, Chief Executive Officer. “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.”

Comstock’s Interim President & CEO Steven H. Goldman stated, “We are delighted to enter into this transaction with White Gold Corp., the leading gold exploration company in Yukon’s White Gold District. Not only does this transaction strengthen Comstock’s balance sheet, it allows Comstock to participate in White Gold Corp.’s continued exploration of the QV Gold Project as well as participate in the upside in White Gold’s other gold deposits, discoveries and developments in the White Gold District.”

Maps & images providing additional information on the Property can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

QV Gold Project

Comstock optioned the QV Property from Shawn Ryan in 2010 and discovered the VG Zone deposit (the “VG”) in 2012 on the southern end of the Property where most of the historic work has been focused. Approximately 4,300 metres of diamond drilling over 23 holes have been conducted on the VG to date. Of these, 17 diamond drill holes formed the basis of a 2014 maiden resource estimate(1) of 230,000 ounces of gold (4.4 million tonnes grading 1.65 g/t gold) in the Inferred category at a cut-off of 0.5 g/t gold.

The mineralization is hosted along a NE trending, gently south dipping structural zone that has been traced for over 700m at surface and consists of disseminated to vein-controlled pyrite with brecciation, stockwork quartz-carbonate veining, and sericite alteration. The VG shares strong similarities to the Golden Saddle deposit both in structural setting as well as mineralization style and is open along strike and at depth. Highlights from historic drilling includes, QV12-001(1): 1.03 g/t Au over 78m; incl. 6.15 g/t Au over 5.6m, QV12-004(1): 2.23 g/t Au over 42m, QV12-006(1): 1.45 g/t Au over 60m, QV13-011(1): 1.36 g/t Au over 42.6m, QV13-012(1): 1.76 g/t Au over 42.3m, QV17-018(2): 1.42 g/t Au over 45.5m, QV17-019(2): 1.48 g/t Au over 51.2m.

The most recent work on the Property occurred in 2017 and included six diamond drill holes on the VG which expanded the footprint of known mineralization beyond the limits of the historic resource calculation. Significant results from the 2017 program included 1.42 g/t gold over 45.5m from 67.5m down hole in hole QV17-018, which expanded the mineralization 125 metres down dip from previous drilling, and 1.48 g/t gold over 51.2m from 98m down hole in hole QV17-019, which expanded the mineralization 45m west of previous drilling.

Additional work on the Property has included soil sampling, GT Probe sampling, trenching, IP-Resistivity surveys, airborne magnetic-radiometric surveys, geological mapping/prospecting and minor RAB drilling. This work has defined other priority targets with similarities to the Company’s Golden Saddle deposit and recently discovered Vertigo zone warranting follow up exploration including the Stewart, Tetra and Shadow zones.

Stewart: Located 5km N-NW of the VG and consists of a 1.5km, E-W, trending gold in soil anomaly, with values from trace to 274.1 ppb Au and anomalous Bi-Ag-Te-Mo. The target occurs adjacent to a Jurassic intrusive that may be associated with mineralization in the area.

Tetra: Located 8km N of the VG and consists of a 1.5km, E-W, trending gold in soil anomaly, with values from trace to 274.1 ppb Au. The target occurs along an interpreted E-W oriented fault based on magnetic data for the area and is open and unexplored to the west.

Shadow: Located 12 km north of the VG zone and consists of multiple gold in soil anomalies, ranging from trace to 514ppb Au and up to 2.7km long, associated with a series of NW and ENE trending structures. Strongly anomalous Ag-Pb-Bi+/-As+/-Mo also occur in the area, and the overall geochemical and structural setting is similar to the Company’s Vertigo discovery 23km to the west.

Large portions of the Property are also unexplored but have strong potential for the discovery of additional zones of structurally-controlled and/or intrusion-related mineralization.

The Property is subject to a 2.0% underlying net smelter return royalty (NSR), of which 1.0% may be purchased for $2,500,000. Annual cash advance payments of $25,000, deductible against the royalty, are payable until commencement of commercial production.

As determined in accordance with NI 43-101 the Property is not considered “material” to the Company relative to the size and stage of development of the Company’s existing portfolio of properties, and accordingly the disclosure in section 2.4 of NI 43-101 is not required.

Terms of Acquisition

In order to acquire its interest in the Property, the Company is required to pay to the Vendor total consideration of C$2,625,000, to be satisfied by a cash payment of C$375,000, the issuance of an aggregate of 1,500,000 common shares in the Company (the “Subject Shares”) and the issuance of 375,000 share purchase warrants (“Warrants”).  Each Warrant will be exercisable to acquire one additional common share of the Company for a period of three years from the closing date of the Acquisition (the “Closing Date”) at an exercise price equal to the greater of (i) $1.50; and (ii) the lowest price permitted by the TSX Venture Exchange (the “TSXV”).

The Acquisition remains subject to various closing conditions, including completion by the Company of satisfactory due diligence, no material adverse change occurring with respect to the Property prior to the Closing Date and receipt of all requisite third-party consents and all other necessary regulatory and other approvals, including, without limitation, the approval of the TSXV.

Advisors and Counsel

Red Cloud Klondike Strike Inc. acted as financial advisor to Comstock and Folger, Rubinoff LLP acted as Comstock’s legal advisor. Cassels Brock & Blackwell LLP acted as legal advisor to White Gold Corp. As an advisor to Comstock on this transaction, Red Cloud is entitled to the payment of advisory fees equal to 5% of the value the transaction up to $2 million and 3.5% of the value of the transaction in excess of $2 million. The fees may be satisfied in part by the receipt of shares and warrants in White Gold Corp.

(1) See Comstock Metals Ltd. Technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, available on SEDAR

(2) See Comstock Metals Ltd news release dated Dec. 18, 2017, available on SEDAR

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 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.

About Comstock Metals Ltd.

Comstock Metals Ltd. is an exploration company with several resource projects located in North America. Presently evaluating opportunities in the battery metal space, Comstock recently secured the Rawhide Cobalt-Silver Project in Ontario, adding to its two advanced gold projects: Preview SW Project in Saskatchewan and the QV Project located in the White Gold District of the Yukon.

Comstock also has a joint venture with, and equity investment in, E3 Metals Ltd. (TSX.V: ETMC) a Petro-Lithium company located in Alberta, Canada. For more information about E3 Metals, please visit their website: www.e3metalscorp.com.

Qualified Person

Jodie Gibson, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 (“NI 43-101”) and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to the completion of the Acquisition; the anticipated benefits to the Company, the Vendor and their shareholders respecting the Acquisition; 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 and/or the Vendor to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company and Vendor relating to the Acquisition; expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties; the receipt of all applicable regulatory and third party approvals, as required, for the Acquisition; 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 each of the Company and Vendor. Although the forward-looking statements contained in this news release are based upon what management of the Company and Vendor believe, or believed at the time, to be reasonable assumptions, the Company and Vendor 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. Neither the Company nor the Vendor undertakes any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(416) 643-3880
ddonofrio@whitegoldcorp.ca

Steven H. Goldman
President, CEO and Director
Comstock Metals Ltd.
(416) 867-9100
s.goldman@goldmanhine.com

Photos accompanying this announcement are available at:

http://www.globenewswire.com/NewsRoom/AttachmentNg/a0df67b2-441b-491d-b614-

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White Gold: Q&A

On January 8, White Gold Corp. (V.WGO) put out a press release detailing the new discovery on its “Betty” Property. MotherlodeTV recently interviewed White Gold Corp. CEO, David D’Onofrio, about this discovery in the White Gold District, Yukon.

 

1. What makes this latest discovery’s results so significant?

 

The Betty Ford discovery is now the fourth gold discovery and the latest example of what we continue to find across our 423,000-hectare land package. With intersection of over 50 meters of gold mineralization, and being hosted on the same structural fault as Goldcorp’s adjacent Coffee project, we believe we have the making of another very significant discovery here.

Specific drilling highlights include, the Ford target hole BETFRDRAB18-002 returned 1.08 g/t Au over 50.29m from 4.57m depth, including 2.24 g/t Au over 9.41m from 19.81m depth. And BETFRDRAB18-001, the eastern most hole drilled in the area, returning 24.39m of 0.94 g/t Au from 19.81m depth; including 10.67m of 1.26 g/t from 19.81m depth.
What is really exciting is to date there has been very little drill testing completed on the Betty property, and these results and the gold mineralization found on other targets on the Betty this year, have demonstrated that this is a very gold large system. All this was found with just a preliminary, shallow drilling program. With getting such strong results early on, we believe we have only scratched the surface on the total mineral potential we have here.

 

2. Why was the recent drilling on the Betty Rotary-Air-Blast?

Our exploration strategy is the brainchild of world-renowned prospector and White Gold Corp. Chief Technical Officer, Shawn Ryan. With our significantly sized land package, our strategy continues to be to explore as many areas as possible with first shallow testing methods, and then to advance deeper as value is demonstrated in the ground. Our methodical and data-driven strategy begins with soil sampling, LiDAR surveying, and bedrock probing. These methods allow us to strategically direct our RC and RAB drilling. This low-cost drilling allows us to test a maximum number of targets and define new discoveries that require diamond drilling. This cost-effective approach preserves our cash, stretching exploration dollars further. Shawn’s exploration methods have continued to prove successful this season and we are excited to complete further exploration on our Betty property.

This is the fourth new discovery we have made this year. We have a very robust pipeline of additional targets to test on this and our other properties in the White Gold district, which is continuing to emerge as a prolific gold camp in Canada!

 

3. Why was drilling completed on the Betty property, and not closer to your flagship Golden Saddle & Arc deposits?
White Gold’s strategy is a combination of expanding our existing deposits and major discoveries, such as Golden Saddle and Vertigo, and generating new discoveries on our portfolio of targets through regional exploration. As part of our 2018 regional program, exploration on the Betty property included 1,800m drilled over 28 holes on 6 target areas, along with extensive soil sampling, LiDAR surveys, and geologic mapping and prospecting. As with all of our drill targets, these were defined through a regional-scale evaluation of our land package and ground-level evaluation through soil sampling and prospecting. With the most significant results returned from the Ford and White target areas, and only a limited drilling program completed to date, we believe there is significant potential to this new discovery.

 

4. How do these Betty property results relate to other nearby deposits?
Goldcorp’s Coffee deposit contains over 3.4M oz of gold and is less than 40km away from our Betty Ford target, while Western Copper and Gold’s Casino project with 8.9M oz of gold is within 20km; and as the old saying goes, the best place to find a new gold mine, is next to an existing gold mine! The Coffee Creek fault runs directly through the Betty property, and our Betty Ford target is hosted within this fault structure, the same structural setting as Goldcorp’s Coffee deposit. We believe with this very close proximity and the similarity in grades to the Coffee deposit which Goldcorp purchased in 2016 for $520M, and is scheduled to commence production in 2021 bringing with it significant supporting infrastructure. there will be some exciting finds in the near future as we continue to explore the extent of this mineralized system.

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