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GR Silver Mining Provides an Exploration Update for the San Marcial Silver-Gold Project, Including Drill Result of 28.7 m at 92 g/t Silver, 30 m from the NI 43-101 Resource Area.

Goldplay Exploration Ltd. (TSXV: GRSLFRANKFURT: GPE, OTCQB: GLYXF) (“GR Silver” or the “Company”) is pleased to provide drilling results, as well as an update on exploration and current activities at the Company’s San Marcial Silver-Gold Project (“San Marcial”) in Sinaloa, Mexico.

Results have been received from the 2019 core drilling program including a 28.7 m wide intersection containing 92 g/t silver (Ag).

Following the successful 2019 drill program, GR Silver is preparing for its 2020 core drilling campaign, which will incorporate a maiden underground program, as well as surface drilling.

San Marcial Exploration Highlights:

  • Final 2019 drill holes intersected wide zones of Ag mineralization and anomalous gold (Au) on targets generated by GR Silver outside of the resource area, including:
    • SM-19-07: 28.7 m at 92 g/t Ag, including 13.75 m at 154 g/t Ag (Faisanes target)
    • SM-19-08: 0.6 m at 138 g/t Ag and 0.56 g/t Au (Guacamayo target), confirming the presence of mineralized breccia 30 m east of the SE limit of the NI 43-101 resource
  • Underground drilling will test high-grade depth extensions below San Marcial resource
  • Development underway to expand and extend the existing tunnel for drill access
  • Our in-house XRF litho-geochemistry program for target generation has re-commenced
  • Due diligence has commenced on the two Letters of Intent announced in the past month as potential acquisitions adjacent to the San Marcial Project:
    • Plomosas Silver Project (First Majestic Silver Corp.)
    • La Trinidad Project (Mako Mining Corp.)

GR Silver Mining President and CEO, Marcio Fonseca, commented“After receiving the wide silver results at the Faisanes target from our 2019 drill program, we are pleased to announce that work has begun on our 2020 program. The first phase will involve underground drilling from the existing San Marcial tunnel, where work is already underway to provide drill access. High grade deep historical drill results suggest that the NI 43-101 resource is open at depth and could develop into a high-grade underground target below the near-surface resources. We remain steadfast in our goal to increase the silver resource at San Marcial.

Coinciding with our name change from Goldplay Exploration Ltd. to GR Silver Mining Ltd., our team has commenced the due diligence reviews of data associated with agreements on two significant land packages that surround the San Marcial Project. The two projects being reviewed for acquisition consist of past-producing silver-gold mines, defined targets and ample grass-roots exploration opportunities. Upon successful incorporation of the La Trinidad and Plomosas projects, GR Silver Mining Ltd. is positioned to become a leading mining company in the “Gran” Rosario Mining District, with multiple advanced stage, high grade silver-gold projects.”

2019 Drill Program Summary
Results from the final three holes of the Company’s maiden drill program at San Marcial in 2019 reveal additional high-grade silver mineralization over attractive widths, as well as anomalous gold mineralization. They also confirmed continuity of the mineralized zone 30 m to the east of the NI 43-101 resource, supporting potential expansion into the Guacamayo target.

The 2019 program focused on new targets generated by the Company outside the NI 43-101 resource area. The full program consisted of eight diamond core holes (see Appendix), totaling 1,210.5 m on the Faisanes, Nava and Guacamayo targets (Figure 1).

Drill hole SM-19-07 at the Faisanes target returned an exciting 28.7 m intercept from surface containing 92 g/t Ag, including 13.75 m at 154 g/t Ag (Table 1). This result confirms depth continuity of wide zones of silver mineralization of up to 56m at 196 g/t Ag in surface trench SMtr-001 (see news release dated 21 February, 2019). An intercept of anomalous gold, at 75.85 m down hole depth, contained 0.65 m at 0.5 g/t Au and may be hosted by the same structure that corresponds to the very high grade 1m at 204.6 g/t Au result intersected in hole SM-19-01 (see news release dated 30 July, 2019) (Figure 2). Another hole located 120 m west, SM-19-04 (Figure 1), failed to intersect visually significant mineralization, resulting in a 14 m intersection being analysed; however, no assays of significance were recorded.

The high-grade results at the Faisanes target in drill holes SM-19-01, SM-19-07 and surface trench SMtr-001 have the potential to provide an extension to the San Marcial NI 43-101 silver resource 30 m in a NW direction. A third drill hole, SM-19-04, located 120 m to the west (Figure 1), did not return obvious mineralization, but proved important in improving the Company’s understanding of the geology between the Faisanes and Nava targets.

Table 1: Assay results from Faisanes and Guacamayo drill holes

Drill Hole

Target

From (m)

To (m)

Sample
Length (m)

Au Grade

(g/t)

Ag Grade

(g/t)

Cut-off grade

SM-19-04

Faisanes

NA

SM-19-07

Faisanes

0.00

28.70

28.70

<0.01

92

30 g/t Ag

including

1.50

15.25

13.75

<0.01

154

80 g/t Ag

48.65

49.05

0.40

0.03

99

80 g/t Ag

75.85

76.50

0.65

0.50

4

0.1 g/t Au

80.25

80.40

0.15

0.79

9

0.1 g/t Au

SM-19-08

Guacamayo

9.00

10.00

1.00

0.19

1

0.1 g/t Au

14.00

17.00

3.00

0.21

23

0.1 g/t Au

including

15.00

15.60

0.60

0.58

138

0.5 g/t Au

54.00

57.00

3.00

0.13

3

0.1 g/t Au

Values may be rounded. Mineralized zones are calculated using minimum width of 0.1 m, allowing for maximum
2 m of internal dilution, using the cut-off grades shown to define the mineralized zones. True widths can not be
confidently estimated at this point. NA = No samples above cut-off

The Guacamayo target is located at the SE end of, and along strike from, the San Marcial Resource Area (Figure 1). During 2019, results from geological prospecting and trenching at this target confirmed the existence of anomalous gold and silver associated with structures near the contact between an upper volcanic package and underlying dacitic units. As reported in our News Release dated 8 August, 2019, one trench (SMtr-022) at Guacamayo returned a wide zone of 24 m at 219 g/t Ag and 0.25 g/t Au. In addition, trench SMtr-019 contained 5 m at 0.6 g/t Au.

The final hole in the 2019 drill program was targeted at Guacamayo in the vicinity of trench SMtr-033 which contained several intervals of anomalous gold associated with a structural contact zone of faults, stockwork, quartz veinlets, hydrothermal breccia and a late stage dacitic dyke. The 60 m drill hole, SM-19-08, intersected anomalous narrow zones of Au and Ag mineralization up to 0.6 m at 0.58 g/t Au and 138 g/t Ag (Table 1 and Figure 3). Other drill targets, for testing in the 2020 surface drilling program, are being assessed at Guacamayo to investigate the continuity of mineralization to the SE, along strike from the San Marcial resource.

2020 Underground Drill Program
The planned underground core drilling campaign will focus on testing down-dip extensions to the 2019 NI 43-101 San Marcial silver resource, as well as investigating continuity of the gold potential that was discovered in 2019, in the footwall sequence below the silver resource. Drilling to date has only tested the silver resource to approximately 250 m vertical depth, and remains open at depth, as most sections finished in silver intervals above 1,000 g/t Ag. Development within the historical San Marcial tunnel is currently underway to provide access for the underground program that is part of the Company’s objective to increase resources.

The existing historical tunnel is approximately 170 m in length, and orientated perpendicular to the silver mineralization. Development currently underway (Figure 4) will result in the tunnel being extended a further 100m, with a cross-cut parallel to the mineralization allowing additional access along the strike of the mineralization to then test the NE-dipping breccia hosted mineralization at depth. The initial underground drill program is expected to total 2,000 m and will be followed by a surface diamond drilling program to test other targets defined on the tenement.

Geochemical Targeting

2019 was a milestone year for our exploration team. We made great progress on our flagship San Marcial Project by expanding the silver NI 43-101 resource by 60%, initiating a core drilling program, discovering eight new drilling targets, and hitting bonanza-grade gold on our first drill target (the first hole drilled on the property in 10 years).

Additional knowledge was fast-tracked with our detailed, cost-effective, exploration program, which incorporated our in-house XRF soil and litho-geochemistry program, geological mapping and trenching. In the past year we have collected approximately 4,000 soil samples and 5,700 litho-geochemical samples from the San Marcial concession. Analyses of these samples with our two in-house portable XRF (Niton) units has provided us with a valuable and extensive geochemical data base to aid in our exploration targeting process. Our knowledge of the silver and gold mineralization in the project has evolved significantly, which is expected to drive us toward new discoveries in 2020.

The geochemical program for 2020 is currently underway. Anomalies in pathfinder elements defined by this program will again be followed up by detailed geological mapping and trench/channel sampling, aiming at identifying additional drill targets.

Due Diligence on 2 Letters of Intent
The Company recently signed two non-binding Letters of Intent; the first with Mako Mining Corp., related to (the potential acquisition of) the La Trinidad Mine and the second with First Majestic Silver Corp., related to (the potential acquisition of) the Plomosas Silver Project (see News Releases dated 17 December, 2019 and 7 January, 2020). These transactions, together with successful exploration results in 2019, represent significant milestones for our team and management. The acquisitions reflect our strategy to consolidate the major mineralized silver-gold structures surrounding our San Marcial Project.

The potential acquisitions of La Trinidad and Plomosas are a cost and time effective approach to advance our mission of delivering of high-grade silver-gold ounces in the historical Rosario Mining District. Upon completion of due diligence and the signing of definitive agreements, the extensive datasets will allow us to fully explore, not only the 6 km existing trend at San Marcial, but also an additional ~25 km of mineralized trend with at least 15 new targets inside the Plomosas Silver Project, along with prospective gold and silver targets at La Trinidad.

The due diligence process is now underway on both project opportunities.

Qualified Person

The scientific and technical data contained in this news release related to the San Marcial Project was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo., a non-independent qualified person to GR Silver Mining Ltd. who is responsible to ensure that the geological information contained in this news release is accurate and who acts as “qualified person” under the National Instrument 43-101 Standards of Disclosure of Mineral Projects.

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

GR Silver has implemented QA/QC procedures which include insertion of blank and standard samples in all sample lots sent to SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc at Burnaby, BC. The analytical methods are: 4-acid Digest and Inductively Coupled Plasma Optical Emission Spectrometry with Lead Fusion Fire Assay with gravimetric finish for silver above over limits. For gold assays the analytical methods are Lead Fusion and Atomic Absorption Spectrometry Lead Fusion Fire Assay and gravimetric finish for gold above over limits.

About GR Silver Mining Ltd.

GR Silver recently changed its name from Goldplay Exploration Ltd to better reflect its focus on silver projects in the “Gran” Rosario Mining District. GR Silver has successfully consolidated a district-sized portfolio, owning >250 sq. km of mineral concessions in the historic Rosario gold-silver Mining District in the state of Sinaloa, Mexico. Its flagship project, San Marcial, consists of a 1,250-ha land package located south of the La Rastra and Plomosas historic mines. San Marcial is a near-surface, high-grade silver, lead, and zinc open pit amenable project for which a NI 43-101 resource estimate was completed by GR Silver in early 2019. Additionally, bonanza-grade gold was drilled in July 2019 at San Marcial, opening the potential for further gold success. GR Silver’s 100% owned El Habal precious metals project is located 20 km west of the San Marcial Project. It comprises 3,700 hectares and is located 75 km southeast of the modern coastal port of Mazatlán, and 10 km on a paved road from the historic mining town of Rosario, Sinaloa, Mexico.

GR Silver’s current focus includes expanding its NI 43-101 resource estimate at the San Marcial project, which contains 36Moz AgEq (indicated) + 11Moz AgEq (Inferred), by defining new high-grade gold and silver targets along the project’s 6 km mineralized trend. GR Silver is the first company to perform exploration work and to drill at San Marcial in over 10 years. It is a low-risk development stage project, fully exploration permitted and supported by the local communities to carry out all proposed exploration activities. A 6 km trend has so far been identified, highlighting the significant potential for further discoveries. The Company has identified 8 high-priority targets along the 6 km trend and in 2019 drilled preliminary holes into three high-priority targets at Faisanes, Nava and Guacamayo. Some of these exploration targets consist of old shallow pits, caved shafts and historic shallow underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures in a felsic volcanic environment. Mapping and sampling by GR Silver have revealed evidence of dacite-rhyolite dome structures in a highly prospective geological environment for additional high-grade gold and silver discoveries.

The El Habal Project is a drill-stage project. Its oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historic shallow underground mining along a 6 km-long prospective corridor. The El Habal Project is located near the historic gold-silver Rosario Mine which operated for over 250 years.

GR Silver’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries.

The NI 43-101 reports for each of the San Marcial and El Habal Projects are available on SEDAR.

Mr. Marcio Fonseca
P. Geo, President & CEO
GR Silver Mining Ltd.

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

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Appendix: Faisanes and Guacamayo Drill Hole Collar Location Details

Drill Hole

Target

East

(mE)

North
(mN)

Dip

Azimuth

Final Depth

(m)

SM-19-01*

Faisanes

450,896

2,545,836

-50˚

220˚

281.0

SM-19-02*

Nava

448,987

2,545,610

-50˚

350˚

292.5

SM-19-03*

Nava

449,341

2,545,698

-50˚

340˚

150.0

SM-19-04

Faisanes

450,572

2,545,719

-50˚

320˚

180.0

SM-19-05*

Nava

449,272

2,545,786

-50˚

160˚

66.0

SM-19-06*

Nava

448,985

2,545,796

-48˚

200˚

100.0

SM-19-07

Faisanes

450,838

2,545,721

-50˚

005˚

81.0

SM-19-08

Guacamayo

451,243

2,545,530

-50˚

250˚

60.0

* Drill holes previously reported on News Releases dated 30 July 2019 and 25 November 2019

SOURCE GR Silver Mining Ltd.

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White Gold Corp. to Present New Discovery Data and Corporate Update at VRIC and AME Roundup Conferences, January 19-23, Vancouver, Canada

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to announce it will be exhibiting with Shawn Ryan (Chief Technical Advisor) to provide feature presentations at the upcoming Vancouver Resource Investment Conference and AME Roundup conferences being held January 19 to 23, 2020 in Vancouver, Canada.

“2019 was a very successful year on all fronts for White Gold in which we advanced our flagship projects, made more new discoveries and continued to demonstrate the abundance of high-grade, near surface gold across our expansive million-acre land package in the prolific and underexplored White Gold District, in Yukon, Canada. We are excited for the opportunity to provide a corporate update, present our continued successes and our exciting future plans to sophisticated institutional and high-net worth investors at the prestigious VRIC and AME Roundup conferences,” stated David D’Onofrio, Chief Executive Officer. “We will also have on display drill core & rock samples from some of our recent gold discoveries, including the Titan (72.81 g/t Au over 6.09m from 10.67m depth, within a broader zone of mineralization), the Vertigo and others, and look forward to releasing the balance of results from our exploration activity in due course.”

Vancouver Resource Investment Conference
Vancouver Convention Centre West, Vancouver, Canada – January 19-20, 2020
Presentation: Monday, January 20 at 10:00-10:30AM at the Invest Yukon Pavilion Stage
Exhibitor Booth #313 on Sunday, January 19 to Monday, January 20 at Invest Yukon Pavilion
Event Agenda: https://cambridgehouse.com/vancouver-resource-investment-conference/agenda

AME Roundup
Vancouver Convention Centre East, Vancouver, Canada – January 20-23, 2020
Coreshack Booth #917 on Monday, January 20 to Tuesday, January 21 in Exhibit Hall
Event Agenda: https://roundup.amebc.ca/program/schedule-at-a-glance/

Please reach out to management at ir@whitegoldcorp.ca if you would like to book a meeting at either of these conferences or for any other inquiries.

For those unable to attend these conferences, recent video updates can be found online at: https://www.youtube.com/channel/UCTjCesi7VVwpTvpCscvXtzA

QA/QC
The analytical work for the 2019 drilling program was performed by ALS Canada Ltd. an internationally recognized analytical services provider, at its North Vancouver, British Columbia laboratory.  Sample preparation was carried out at its Whitehorse, Yukon facility. All RC chip and diamond core samples were prepared using procedure PREP-31H (crush 90% less than 2mm, riffle split off 500g, pulverize split to better than 85% passing 75 microns) and analyzed by method Au-AA23 (30g fire assay with AAS finish) and ME-ICP41 (0.5g, aqua regia digestion and ICP-AES analysis). Samples containing >10 g/t Au were reanalyzed using method Au-GRAV21 (30g Fire Assay with gravimetric finish).

The reported work was completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standard, blanks and duplicates into the sample stream.

About White Gold Corp.
The Company owns a portfolio of 21,207 quartz claims across 33 properties covering over 422,730 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t Au and 508,800 ounces Inferred at 1.48 g/t Au. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate(1). Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Goldcorp Corporation with a M&I gold resource(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. The NI 43-101 technical report entitled “Independent Mineral Resource Estimate for the White Gold Project, Dawson Range, Yukon, Canada” was prepared by Canadian-based Arseneau Consulting Services Inc. The technical report is available for review on SEDAR at www.sedar.com on the Company’s profile and on the Company’s website at www.whitegoldcorp.ca.
  2. Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

Qualified Person
Jodie Gibson, P.Geo., Technical Advisor, and Andrew Hamilton, P.Geo., Exploration Manager, for the Company are each a “qualified person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, and each 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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Golden Predator Announces Updated Technical Report; Oxide Gold Resource Ounces Increase more than 50% at Brewery Creek Mine, Yukon

Vancouver, BC, January 15, 2019: Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company”) today announced the results of an updated NI 43-101 Technical Report for the Brewery Creek project in Canada’s Yukon. Prepared by Gustavson & Associates, the report estimates that, at a gold price of $1325/oz, Indicated oxide gold resources have increased 55% while Inferred oxide gold resources have increased 78% since the previous resource estimate (2014 PEA). Indicated tonnage rose 89% and Inferred tonnage rose 85% while the Indicated resource grade declined 18% and Inferred oxide grade fell 3%, reflecting the benefit of a higher gold price assumption compared to 2014.

The updated estimate incorporates data from drilling through to the end of 2015. The Company completed a subsequent 200 exploration drill holes from 2016 to 2019. A total of 177 of those holes were drilled from August 2019 to November 2019 and assays are still being received and evaluated for a significant number of those holes. The Company has engaged Gustavson & Associates to consider the data from the 2019 drill program as it becomes available, and thereafter update the resource estimate to include those holes.

The updated mineral resource estimate was conducted by a single author using a consistent methodology whereas the 2014 mineral resource estimate included the work of three different estimators using three different estimation methods. The new resource model uses a single conceptual pit shell. The material on the heap leach pad is not considered in the technical report and a study is underway to separately assess the economics of reprocessing the heap leach pad material.

RESOURCE REPORT SUMMARY

–          The updated mineral resource estimate reports an Indicated oxide resource of 21,140,00 Tonnes at 1.125 g/t Gold containing 765,000 ounces, plus an Inferred oxide resource of 14,120,000 Tonnes at 0.967 g/t Gold containing 440,000 ounces. The report also estimates an additional 8,570,000 Tonnes of Inferred sulfide resource at 0.985 g/t Gold containing 270,000 ounces. The estimate utilized cutoff grades calculated separately for each deposit, ranging from 0.42 to 0.53 gpt Au at a gold price of $1325/oz reported within a pit shell calculated at $1,600/oz.

–          Material on the heap leach pad is not included in the Mineral Resource.

 

 

January 2020 Brewery Creek Mineral Resource* Estimate

 

Oxide

 

Tonnes

 

g/t

 

Gold Oz

Indicated21,140,0001.125765,000
Inferred14,120,0000.967440,000
SulfideTonnesg/tGold Oz
Indicated
Inferred8,570,0000.985270,000

*Mineral resources are not mineral reserves and do not demonstrate economic viability.

Janet Lee-Sheriff, Golden Predator’s Chief Executive Officer, commented: “We are delighted by the substantial increase in oxide resources which offer a significant impact on the longevity and economics of the Brewery Creek Mine. Although a higher gold price certainly contributed to the increase, we are also very encouraged by the favorable impact of a more systematic application of geological constraints on the deposits. We look forward to the next updated Resource which will incorporate the results from our 2016, 2018 and 2019 programs and look forward to the study on the reprocessing of the heap leach pad material.”

To view Brewery Creek property and location maps: http://www.goldenpredator.com/_resources/news/Maps-GPY-NR-Jan-14-20.pdf

PROJECT OVERVIEW

Heap Leach Reprocessing Study: Phase 1

Kappes Cassiday is currently conducting a feasibility level study to determine the parameters for the phase 1 plan to reprocess the material on the heap leach pad. The study will include detailed analysis of all the key parameters involved in reconstructing necessary infrastructure including the ADR plant, assay lab and all projected capital and operating costs, production levels and the projected economic return. The study is focusing solely on remediating and reprocessing the heap leach pad as a means of fast-tracking revenue and re-development of the site. The study will include a project implementation schedule, sourcing, and economic cash flow model sufficiently detailed to move directly into procurement, development and operations if economically warranted. Any production decisions would be based on the outcome of this feasibility level study demonstrating technical and economic viability.

Brewery Creek Mine: Production History

The Brewery Creek Mine is a licensed brownfields heap leach gold mine that was operated by Viceroy Minerals Corporation from 1996 to 2002. Brewery Creek was put into Temporary Closure in 2002 following a collapse of the gold price below $300 US per troy ounce. Golden Predator’s team commenced work on the project starting in 2009. Brewery Creek is now authorized to restart mining activities as defined in their Quartz Mining License and Water License. The Company intends to resume mining and processing of licensed deposits when supported by an independent economic study. In 2020 the Company will begin work with Tr’ondëk Hwëch’in and Yukon Government to expand the licensed mining to include new discoveries made since the existing license was granted.

The 180 km2 property is located 55 km east of Dawson City and is accessible year-round by paved and improved gravel roads. Significant infrastructure remains in place, allowing for a timely restart schedule under existing licenses.

Brewery Creek Mine: Resources

The Company conducted exploration drilling on the Brewery Creek project from 2010 to 2013 which increased the resource significantly. The project has a 43-101 Indicated oxide resource of 21,140,00 Tonnes at 1.125 g/t Gold containing 765,000 ounces, plus an Inferred oxide resource of 14,120,000 Tonnes at 0.967 g/t Gold containing 440,000 ounces with 8,570,000 additional Tonnes of Inferred sulfide resource at 0.985 g/t Gold containing 270,000 ounces. Material on the heap leach pad is not included in the resource. The resource does not include the results of 200 exploration drill holes, 177 of which are from 2019; most are pending complete assays and/or evaluation.

The January 13, 2020 NI 43-101 Technical Report will be made available on SEDAR and the Company’s website within the time prescribed by NI 43-101. The updated report replaces the prior technical report dated November 19, 2014, including the economic analysis therein, which is no longer considered current by the Company.

Brewery Creek Mine: Licenses, Permits and NI 43-101 Disclosure

The Company has a Socio Economic Accord with Tr’ondëk Hwëch’in for the Brewery Creek Mine and is licensed to resume mining activities under the current Water License and Quartz Mining Licenses. The project also has a Class IV Mining Land Use Permit to conduct additional exploration.

Resource estimates included herein were prepared by Gustavson and Associates under the direction of Donald E. Hulse, who is independent of Golden Predator and a Qualified Person as defined by National Instrument 43-101. Mr. Hulse has reviewed and approved this news release.

The technical content of this news release has been reviewed and approved by Jeff Cary, CPG a Qualified Person as defined by National Instrument 43-101 and is employed by the Company as its Senior Project Geologist.

Golden Predator Mining Corp.

Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities, under its valid Quartz Mining and Water Licenses, in Canada’s Yukon. With established resources grading over 1.0 g/t Gold and a study currently underway by Kappes Cassidy considering the economics of a restart of heap leach operations at the Brewery Creek Mine, 2020 proves to be a pivotal year for the Company. Drilling continues to expand the open-ended resources and untested targets across the 180 km2  brownfield property located 55 km by road from Dawson City, Yukon.  The Company has a Socio Economic Accord with the Tr’ondëk Hwëch’in First Nation.

At the 3 Aces project, Golden Predator continues to expand on discoveries of native gold in quartz veins while ongoing bulk sampling and processing at the 50 tpd Company-owned processing plant has demonstrated gold recoveries of over 85% using a combination of a gravity and water process and a mobile batch cyanide-free process. This ‘green’ gold provides the content for the mintage of .9999 gold coins from the Yukon Mint™, a wholly owned subsidiary of Golden Predator.

For additional information:

Janet Lee-Sheriff

Chief Executive Officer

(604) 260-8435

info@goldenpredator.com 

www.goldenpredator.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations that the private placement will complete as described herein, that the Project will advance through permitting and feasibility. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

 

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Eloro: Gold in Peru, Polymetallic Prospect in Bolivia

Eloro (V.ELO) CEO Tom Larsen would have every right to be frustrated with South America. The company’s extremely promising La Victoria Gold/Silver Project in north central Peru has had to deal with 100 year rains and then community politics 3000 meters up in the Andes. Even with widespread community support, until a new President was elected in the community and a community vote to approve the surface rights was held, Eloro could not proceed with exploration. After being sidetracked for more than a year a new President was finally elected in early December.

“We hope to start work in late February,” said Larsen. “The thing was that we had to get the town to approve surface rights and that approval was controlled by the old President. Even with 90% of the community behind the project, and even with our award winning social responsibility programs, we still had to wait for a new President to be elected and a community vote. The new President was elected and we’re looking forward to the community vote happening and then we hope to commence the maiden drill program at San Markito.”

The frustrating thing about the community politics is that without activity on the property to report, the market had nothing to pay attention to. “No activity and the stock drifts,” said Larsen.

“We have a lot of technical depth,” said Larsen. “While we waited out the Peruvian situation, we were looking for a hedge. One place we looked was Bolivia. We saw New Pacific Metals with its Silver Sands project and Pan American and we asked ourselves, “Why are they in Bolivia?”

Larsen was alluding to the less than stellar reputation Bolivia has acquired over the years as a mining jurisdiction and as a politically volatile country. “Actual ownership of property is hard,” said Larsen. “The big companies mostly lease their land. But there is the San Cristobal open-pit silver, lead and zinc mine controlled by the Sumitomo Group, the San Vicente silver mine 95% controlled by Pan American Silver and the San Bartolome silver mine controlled by Argentum Investments, AB. So, you can certainly mine in Bolivia. Bolivia has become much more mining friendly.”

Eloro had one huge advantage in Bolivia, they were working with Dr. Osvaldo Arce, a Bolivian geologist who was familiar with and had worked on many of the country’s most prospective properties. He was looking for the opportunity to work with Eloro and made a list of potential projects. At the top of that list was the Iska Iska polymetallic epithermal project, in the Potosí Department, in southern Bolivia.

Dr. Arce had worked on Iska Iska in 2016 and knew the family who controlled the property. Eloro and Dr. Arce began working on the due diligence for the property in August 2019 and the company entered into a Letter of Intent to gain an option on the property which it announced October 8, 2019.

In that press release Eloro reported the results of its channel sampling work on the Iska Iska property. In that release Larsen states, “The results of our initial due diligence, supervised by Dr. Osvaldo Arce, P. Geo., are very positive and suggest the potential for a large polymetallic mineralized system in a similar geological setting to other major deposits in the belt.”

Along with surface channel samples, Eloro took samples from underground workings. The samples disclosed silver, gold, zinc, lead, copper and rare earths. “These were 3 meter channel samples,” said Larsen. “As well as very good silver and gold grades we saw 16% zinc and 16% lead. There was high quality mineralization in 40-50% of the samples taken.”

Based on the sampling and the geological mapping undertaken at Iska Iska, Eloro decided to go forward with the project and on January 9, 2020 announced the signing of the Definitive Option Agreement on the Iska Iska polymetallic epithermal project.

“The agreement gives us four years to do our due diligence but we should know what we have in two years,” said Larsen. “It is not going to be hard to outline the system.”

“We’re there for the size,” said Larsen. “There is mining on the property right now and we are allowing artisanal activity.”

“The samples we’ve taken to date cover less than 15% of the system,” said Larsen. “We’re looking to find 100 million plus tons.”

The terms of the option reflect the size issue: if Eloro can find the size it is looking for it can effectively control the property for a one time payment of $10 million. However, there is no royalty and Eloro pays no cash up front. The only up-front payment is 250,000 Eloro shares.

All of which is in line with Larsen’s commitment to keep the share structure of Eloro tight – there are only 38 million shares out – and add value with the drill.

“Between La Victoria in Peru and Iska Iska in Bolivia we’ll have a steady stream of news through 2020,” said Larsen. For junior explorers, news from two significant projects is exactly what the market is looking for.

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White Gold Corp. Intercepts High-Grade Gold on 5 New Drill Targets on JP Ross Property Further Validating and Extending Regional Scale Mineralized Footprint

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to announce Rotary Air Blast (RAB) drill results on multiple newly identified drill targets located on the road accessible JP Ross property, in the prolific White Gold District, Yukon, Canada. Generated through the Company’s methodical data driven exploration strategy, the Company’s first ever drilling on these targets was performed as follow up to the previously announced results from 2019 exploration including detailed soil sampling, GT Probe, trenching, geophysical and other prospecting activities. High-grade gold was intercepted of 5 newly identified drill targets located within close proximity to the Company’s Vertigo and Titan discoveries. These targets have unique geochemical signatures and distinct geologic anomalies and include the Stage Fright, North Frenzy, Sabotage, Vertigo and several others. White Gold Corp’s fully-funded $13 million 2019 exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC) included diamond drilling on the Vertigo target (JP Ross property), Golden Saddle & Arc deposits (White Gold property) as well as soil sampling, prospecting, GT Probe, trenching and RAB/RC drilling on various other properties across the Company’s expansive land package located in the prolific White Gold District, Yukon, Canada.

Highlights Include:

  • White Gold Corp’s data driven exploration methodology successfully confirms gold mineralization across multiple additional target areas on JP Ross property with first drilling by White Gold Corp.
  • JP Ross targets drilled are all associated with regional scale structures, and indicate strong potential for additional discoveries on trend, further enhancing the Company’s exploration pipeline.
  • Stage Fright target drill hole JPRSF19RAB-005 intersected 2.31 g/t Au over 16.76m from 30.48m depth, including 5.44 g/t Au over 4.57m.
  • North Frenzy target drill hole JPRNF19RAB-002 intersected 5.45 g/t Au over 4.57m from 13.72m depth, including 12.95 g/t Au over 1.52m.
  • Sabotage target drill hole JPRSAB19RAB-011 intersected 3.42 g/t Au over 7.62m from 6.1m depth.
  • Lifeboat target drill hole JPRLB19RAB-001 intersected 5.41 g/t Au over 3.05m of Au from 3.05m depth.
  • Vertigo target drill hole JPRVER19RAB-022 intersected 6.33 g/t Au over 3.05m from 62.48m depth including 11.5 g/t Au over 1.53m representing a newly discovered East-West structure located 150m South of the main Vertigo target.
  • Drill results further extend and validate multiple recognised gold trends over a 15 km by 15 km area, including the Vertigo, Stage Fright, Sabotage, Frenzy and Lifeboat targets, as well as additional emerging targets on underexplored portions of the property, located in a prolific placer mining camp.
  • Additional regional drill results from the other properties to be released in due course.

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

“We are very excited by these new discoveries in such close proximity to the Vertigo and Titan in our initial drill campaign on these targets. These drill results continue to validate the abundance of high-grade mineralization on the road accessible JP Ross Property, and the regional scale of the mineralized system. Furthermore, the quick and accurate delineation of these anomalies through our disciplined and systematic exploration methodologies including detailed soil sampling, GT probe, trench, prospecting and geophysical evaluation is a testament to our scientific and data driven approach and provides additional confidence in the prospectivity for our follow up exploration on these and our many other regional targets,” stated Shawn Ryan, Chief Technical Officer.

2019 RAB Drilling on JP Ross Property

A total of 1,644m of RAB drilling over 27 shallow holes was conducted on the JP Ross property in 2019, evaluating 8 target areas with a few initial holes drilled on each target. The targets were generated from soil sampling, prospecting and geologic mapping, GT Probe sampling, trenching, and geophysical data.  Assay values for the drilling ranged from trace to 12.95 g/t Au. There is not currently enough information to determine true thickness of the reported results. Notable mineralization was encountered in the majority of the holes with highlights from the RAB drill program detailed below.

Stage Fright
The Stage Fright is located 9.2km to the NW of Vertigo and covers multiple gold in soil anomalies over a 2,700m x 400m, NE trending zone. RAB drilling on the target followed up on GT Probe and prospecting results that included multi-station GT Probe hits >1 g/t Au and prospecting samples up to 94.2 g/t Au associated with E-W and NE trending structures. Highlights of the RAB drilling include:

JPRSF19RAB-005 was drilled at an azimuth of 130° and a dip of 50°. The hole targeted a NNW trending structure highlighted by gold anomalies in soil samples, GT probe samples and prospecting samples (up to 80.6 g/t Au) and returned 16.76m of 2.31 g/t Au from 30.48m depth including 4.57m of 5.44 g/t Au.

JPRSF19RAB-004 was drilled 250m to the NW of JPRSFRAB19-005 at an azimuth of 180° and dip of 50°. The hole targeted anomalous gold in soils, GT probe samples, and prospecting samples (up to 94.4 g/t Au); intersecting 13.72m of 0.2 g/t Au from 67.06m depth, ending in mineralization.

Mineralization in both holes is associated with a NE-SW trending zone of anomalous soils which remains underexplored and is open in both directions.

Sabotage
The Sabotage is located approximately 7.8km NW of the Vertigo and covers an area of multiple gold in soil anomalies over a 5,800m x 3,600m NE trending area. RAB drilling focused on the central portion of the target and followed up on soil, prospecting, GT Probe, and trenching on the target. Highlights of the RAB drilling include:

JPRSAB19RAB-011 was drilled at an azimuth of 025° and dip of 60°. The hole targeted anomalous Au in soil samples, prospecting samples and several anomalous trench samples showing grades up 14.4 g/t Au and 31.1 g/t Ag. The hole returned 7.62 m of 3.42 g/t Au from 6.1m depth.

Results suggest that Au Is associated with increased Pb, As and Ag values in a NW-SE trending system which remains under explored and open in multiple directions.

Frenzy
The North and South Frenzy areas are located 9.2km and 7.6km N of the Vertigo, respectively, and cover multiple soil anomalies over a 3,400m x 2,700m N-S area. Individual soil assays range from trace to 2,964 ppb Au. Anomalous zones at the north end of the area (North Frenzy) generally trend N-S and have a strong associated with anomalous As, Ag, Bi, & Pb. The best-defined anomaly consists of a N-S trending zone of >100 ppb Au, traceable for 950m. Anomalous zones on the southern end of the area (South Frenzy) appear to be associated with NW and NE oriented structural corridors and are typically gold only anomalies. The most significant RAB results were returned from the North Frenzy area and highlights include:

JPRNF19RAB-002 was drilled at an azimuth of 270° and a dip of 60°. The hole targeted a North-South trending structure traceable for over 1,100m along strike; identified in both air and ground geophysical surveys; soil sampling GT probe sampling, prospecting, and trenching. The hole returned 4.57m of 5.45 g/t Au from 13.72m depth; including 1.52m of 12.95 g/t Au.

Drilling results indicate the mineralization is related to a N-S striking, steeply east dipping, structural zone associated with quartz-sericitie alteration, brecciation, minor quartz veining and anomalous As-Pb. The mineralization is open down dip and along strike in both directions.

Lifeboat
The Lifeboat target is located 7km NW of Vertigo between the Sabotage and Frenzy target areas. It consists of a 450m x 500m gold in soil anomaly that lies on the intersection of NE and E-W oriented structural trends defined by geophysical and LiDAR surveys of the area. RAB drilling targeted discreet structural trends on the target highlighted by soil, GT Probe, trench, and geophysical data. Highlights from the drilling include:

JPRLB19RAB-001 was drilled at an azimuth of 180° and dip of -50°. The hole targeted heavily altered, oxidized and mineralized trench samples associated with 400m, E-W trending, gold in soil anomaly. The hole returned 3.05m of 5.41 g/t Au from 3.05m depth.

The system remains underexplored and open for additional drilling to the both the east and west.

Vertigo
RAB holes were drilled on the Vertigo target stepping out 900m to the West from the previously explored footprint and up to 400m to the SE of the heart of the anomaly. Mineralization at the Vertigo is hosted within a network of WNW trending, moderate to steeply south dipping, shallow structures that are subparallel to topography. Individual structures are typically up to 3m and host high-grade mineralization associated with quartz veining, brecciation, and strong sericite-quartz alteration with local fine-grained visible gold, disseminated to locally massive arsenopyrite, galena, chalcopyrite and pyrite.

The high-grade intervals pinch and swell both laterally and vertically with the strongest mineralization occurring where the structures cross lithologic contacts; particularly fine-grained amphibolite and felsic gneiss. The high-grade mineralization occurs within broader envelopes of lower grade mineralization (<0.1 g/t Au) that define a SE plunge to the overall system. Highlights from the drilling include:

JPRVER19RAB-022 was drilled at an azimuth of 020° and a dip of 60°. Drilling targeted a secondary East-West structure located 150m South of the main Vertigo target identified by GroundMag geophysics and highlighted by gold anomalies in soil samples, prospecting samples. Drilling successfully returned 3.05m of 6.33 g/t Au from 62.48m depth including 1.53m of 11.5 g/t Au representing a newly discovered high grade structure on the Vertigo Target.

JPRVER19RAB-023, JPRVER19RAB-024, JPRVER19RAB-025 stepped out approximately 400m southeast of the main Vertigo target. Drilling targeted additional structures highlighted by Ground Mag geophysics, anomalous gold in soil samples and prospecting samples. All three holes did not reach target depth due to ground conditions, but all ended in alteration and gold mineralization, leaving this area open for extension.

The system also currently appears to have been cut by at least 3, late, NE oriented structures which have locally truncated and offset the mineralization.

QA/QC
The analytical work for the 2019 drilling program was performed by ALS Canada Ltd. an internationally recognized analytical services provider, at its North Vancouver, British Columbia laboratory.  Sample preparation was carried out at its Whitehorse, Yukon facility. All RC chip and diamond core samples were prepared using procedure PREP-31H (crush 90% less than 2mm, riffle split off 500g, pulverize split to better than 85% passing 75 microns) and analyzed by method Au-AA23 (30g fire assay with AAS finish) and ME-ICP41 (0.5g, aqua regia digestion and ICP-AES analysis). Samples containing >10 g/t Au were reanalyzed using method Au-GRAV21 (30g Fire Assay with gravimetric finish).

The reported work was completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standard, blanks and duplicates into the sample stream.

About White Gold Corp.
The Company owns a portfolio of 21,207 quartz claims across 33 properties covering over 422,730 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t Au and 508,800 ounces Inferred at 1.48 g/t Au. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Goldcorp Corporation with a M&I gold resource(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., Technical Advisor, and Andrew Hamilton, P.Geo., Exploration Manager, for the Company are each a “qualified person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, and each has reviewed and approved the content of this news release.

Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource at the JP Ross property, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

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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Goldplay Exploration Ltd. Announces Name Change to “GR Silver Mining Ltd.” and New Symbol “GRSL”

Goldplay Exploration Ltd. (TSXV: GPLYFRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”), is pleased to announce that it will be changing its name to “GR SILVER MINING LTD.” effective Monday, January 13, 2020, to emphasize its focus on more advanced stage silver mining projects in the Rosario Mining District, Mexico.

The common shares of the Company will commence trading under the new name on the TSX Venture Exchange with the new trading symbol “GRSL” at the opening of trading on January 13, 2020.

There is no change in the share capital of the Company, and shareholders are not required to exchange their existing share certificates for new certificates. The Company’s new CUSIP number is 36258E102 and its new ISIN number is CA36258E1025.

CEO Marcio Fonseca stated, “We believe the name change more accurately reflects the Company’s evolution and focus. In Q4 2019, we were an advanced exploration company expanding our NI 43-101 resource estimate with a large vision to consolidate/acquire key assets in the Rosario Mining District. Over the last month we have signed two LOIs and are conducting thorough due diligence on two past-producing silver-gold mines and sizeable adjacent exploration packages, comprising a wealth of data and infrastructure. We have seized the recent acquisition opportunities as part of our strategy to become the first company to consolidate the Rosario Mining District. The LOIs are non-binding with respect to most terms nor have definitive agreements yet been negotiated or signed for either transaction. Our mission is to continue creating shareholder value through discovery with low-cost, high-quality acquisitions. Our dedication to increasing the resource estimate at San Marcial remains strong as we move forward with the due diligence process”.

The name change will be accompanied by a new logo, which will be visible in the coming weeks on the website and other corporate material.

About Goldplay Exploration Ltd.

Goldplay has successfully consolidated a district-sized portfolio, owning >250 sq. km of mineral concessions in the historic Rosario gold-silver Mining District in the state of Sinaloa, Mexico. Its flagship project, San Marcial, consists of a 1,250-ha land package located south of the La Rastra and Plomosas historic mines. San Marcial is a near-surface, high-grade silver, lead, and zinc open pit amenable project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019. Additionally, high-grade gold was drilled in July 2019 at San Marcial, opening up the potential for further gold success. Goldplay’s 100% owned El Habal precious metals project is located 20 km west of the San Marcial Project. It comprises 3,700 hectares and is located 75 km southeast of the modern coastal port of Mazatlán, and 10 km on a paved road from the historic mining town of Rosario, Sinaloa, Mexico.

Goldplay’s current focus includes expanding its NI 43-101 resource estimate at the San Marcial project, which contains 36Moz Ag Eq (indicated) + 11Moz Ag Eq (Inferred), by defining new high-grade gold and silver targets along the project’s 6 km mineralized trend. Goldplay is the first company to perform exploration work at San Marcial in over 10 years. It is a low-risk development stage project, fully exploration permitted and supported by the local communities to carry out all proposed exploration activities. Only 500 m of the 6 km trend has been drilled to date, highlighting the significant potential for further discoveries. The Company has identified 8 high-priority targets along the 6 km trend and is currently drilling two high-priority targets at Faisanes and Nava. Some of these exploration targets consist of old shallow pits, caved shafts and historic shallow underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures in a felsic volcanic environment. Mapping and sampling by Goldplay have revealed evidence of dacite-rhyolite dome structures in a highly prospective geological environment for additional high-grade gold and silver discoveries.

The El Habal Project is a drill-stage project. Its oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historic shallow underground mining along a 6 km-long prospective corridor. The El Habal Project is located near the historic gold-silver Rosario Mine which operated for over 250 years.

Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries.

The NI 43-101 reports for each of the San Marcial and El Habal Projects are available on SEDAR.

Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration Ltd.

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

SOURCE Goldplay Exploration Ltd

For further information: +1 (604) 202 3155, Email: info@goldplayexploration.com

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Goldplay Signs LOI to Acquire the Plomosas Silver Project from First Majestic Silver Corp.

Vancouver, BC – Goldplay Exploration Ltd. (TSXV: GPLY, FRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”), is pleased to announce that it has entered into a non-binding Letter of Intent (“LOI”) with First Majestic Silver Corp. (NYSE: AG, TSX: FR, FRANKFURT: FMV) (“First Majestic”), pursuant to which it proposes, through a wholly owned Mexican subsidiary, to acquire 100% of the issued and outstanding shares of First Majestic’s wholly owned Mexican subsidiary, Minera La Rastra S.A. de C.V. (“Minera La Rastra”). Minera La Rastra owns the past producing Plomosas Silver Project, including 8,514 ha of concessions with significant exploration potential in Sinaloa, Mexico (“Plomosas Project”), (Figure 1).

 

Figure 1 – Location Map Plomosas Silver Project – Rosario Mining District

Goldplay, V.GPLY

 

The definitive terms of the transaction are subject to negotiation and are expected to include: (i) a $100,000 cash payment to First Majestic; (ii) the grant of a 2% net smelter return (NSR) royalty to First Majestic on the Plomosas Project with half of the NSR (i.e., 1% NSR) being subject to a buy-back option for US$1,000,000; and (iii) the issuance to First Majestic of that number of common shares of Goldplay as is equal to 19.9% of the total issued common shares of Goldplay (calculated after giving effect to the issuance of such shares)(the “Purchase Shares”). It is anticipated that the Purchase Shares will be subject to a voluntary hold period such that 1/8th of the total number of Purchase Shares will be released from such voluntary hold period every 3 months after the date of closing. It is also expected that First Majestic will enter into a voting trust agreement with Goldplay pursuant to which it will agree to vote the Purchase Shares in favour of management’s recommendations on routine matters at any annual general or special meeting of shareholders for a period of two years after the closing. It is also a binding term of the LOI that, for a period of two years from the date of signing of the LOI, First Majestic will not, without the prior written consent of Goldplay, acquire such number of common shares of Goldplay that would result in it owning 20% or more of the issued shares of Goldplay at any time during such period.

 

Under the LOI, the parties have agreed to a binding exclusivity and non-solicitation period which will terminate on the earlier of 60 days from the date of signing of the LOI, the date of execution of a definitive agreement or the termination of the LOI. The parties are now moving forward with their respective due diligence reviews of each other during the 60 day period. The entering into of a definitive agreement will be subject to certain conditions such as each party being satisfied with its due diligence of the other, board approvals, any required governmental, regulatory and third party approvals and no material adverse event or change in respect of Minera La Rastra or Goldplay.

 

Goldplay’s CEO, Marcio Fonseca stated, “We are delighted to continue toward our corporate mission of becoming the first company ever to consolidate key assets in the Rosario Mining District. Goldplay is poised to secure an attractive resource stage expansion portfolio with excellent infrastructure for future project development. The extensive exploration data base combined with historical operational data, provide a wealth of technical information (geology, geochemistry, geophysics, drilling, Landsat/structural studies, historical metallurgical and operational data) on the Plomosas Project. The value of the extensive exploration database and potential upside of this asset cannot be understated, as it provides an opportunity for Goldplay to achieve new discoveries and delineate new resources in the Plomosas Project. Goldplay is focused on acquiring, at low cost, assets with good infrastructure and potential resources requiring a minimum of time and money to expand and advance to development. Our recent success expanding the resource at the San Marcial Silver-Gold Project has brought fundamental knowledge of the silver and gold mineralization in the Rosario Mining District. This knowledge will allow Goldplay to implement a cost-effective exploration program at the Plomosas Project in 2020 with the objective of future discoveries and resource delineation.”

 

The 8,514-ha land position of the Plomosas Project is strategically located within 5 km of Goldplay’s San Marcial Silver-Gold Project. It is located approximately 94 kilometres southeast of Mazatlan in southeast Sinaloa State, Mexico and is adjacent to the town of Rosario (Figure 1). The Plomosas Project includes infrastructure such as: a 60 km – 33 KV power line (connected to Mexican Regional Power grid), offices, shops, 120-man camp, infirmary, warehouses, foundations for processing plant, and other key infrastructure which can be fundamental for future project development (click here to view photos). The Plomosas Project also is entitled to a surface rights agreement, water use and surface exploration permits.

 

The Plomosas Project includes five shallow past producing underground mines – the Plomosas-La Cruz mine, San Juan mine, La Colorada mine, El Huarache mine, El Saltito mine – and 11 exploration targets (Figure 2). Grupo Mexico operated a 600 tpd crusher/mill/flotation processing circuit from 1986 until 2001. The processing plant feed was mainly sourced from the Plomosas-La Cruz historical underground mine, producing zinc and lead concentrates with silver-gold credits. Historic production reports by Grupo Mexico indicate that a total of 2.5 million tonnes of ore were extracted which averaged 190.5 grams per tonne (g/t) silver, 0.92 g/t gold, 2.02% zinc and 2.38% lead.

 

     Figure 2 –Plomosas Silver Project – Historical Ag Mines & Exploration Targets

Goldplay, V.GPLY

 

The Plomosas Project is historically known as a highly prospective area for silver, gold, lead and zinc mineralization. Key areas within the property boundaries of the Plomosas Project display many geological similarities with the San Marcial Silver-Gold Project. The geological settings at both projects demonstrate occurrences of low sulphidation epithermal quartz-galena-sphalerite veins/hydrothermal breccias and stockworks hosting high grade silver and gold mineralization. The (already discovered) mineralized trends indicate a geological setting related to at least seven major regional structures hosting not only mineralization at the San Marcial Silver-Gold Project but also at the Plomosas Project (Figure 3).

Figure 3 –Plomosas Silver Project – La Trinidad Concessions – San Marcial Ag-au Project

Goldplay, VGPLY

 

This announcement marks the second strategic LOI signed by the Company in the past three weeks. The news release dated December 17, 2019 announced the signing of an LOI with Mako Mining Corp. (“Mako”) which granted the Company the exclusive right to acquire 100% of the issued shares of Mako’s wholly owned subsidiary, Marlin Gold Mining Ltd. (“Marlin”), until December 20, 2020. Marlin owns, amongst other assets, Oro Gold de Mexico, S.A. de C.V., a Mexican company that owns the La Trinidad gold mine facilities, currently being decommissioned.

Goldplay will provide shareholders with updates on the status of these transactions when material information becomes available.

Goldplay has applied to the TSX Venture Exchange to change its name to reflect its focus on silver in the Rosario Mining District. The Company believes its proposed new name will reflect its evolution, the consolidation of advanced-stage assets in the Rosario Mining District, Sinaloa.  More details on the name change will be provided as soon as confirmation of its acceptability is received from the TSX Venture Exchange.

 

 

Qualified Person

The scientific and technical data contained in this news release was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo., a non-independent qualified person to Goldplay Exploration Ltd. who is responsible to ensure that the geological information contained in this news release is accurate and who acts as “qualified person” under the National Instrument 43-101 Standards of Disclosure of Mineral Projects.

About Goldplay Exploration Ltd.

 

Goldplay has successfully consolidated a district-sized portfolio, owning >250 sq. km of mineral concessions in the historic Rosario gold-silver Mining District in the state of Sinaloa, Mexico. Its flagship project, San Marcial, consists of a 1,250-ha land package located south of the La Rastra and Plomosas historic mines. San Marcial is a near-surface, high-grade silver, lead, and zinc open pit amenable project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019. Additionally, high-grade gold was drilled in July 2019 at San Marcial, opening up the potential for further gold success. Goldplay’s 100% owned El Habal precious metals project is located 20 km west of the San Marcial Project. It comprises 3,700 hectares and is located 75 km southeast of the modern coastal port of Mazatlán, and 10 km on a paved road from the historic mining town of Rosario, Sinaloa, Mexico.

 

Goldplay’s current focus includes expanding its NI 43-101 resource estimate at the San Marcial project, which contains 36Moz Ag Eq (indicated) + 11Moz Ag Eq (Inferred), by defining new high-grade gold and silver targets along the project’s 6 km mineralized trend. Goldplay is the first company to perform exploration work at San Marcial in over 10 years. It is a low-risk development stage project, fully exploration permitted and supported by the local communities to carry out all proposed exploration activities. Only 500 m of the 6 km trend has been drilled to date, highlighting the significant potential for further discoveries. The Company has identified 8 high-priority targets along the 6 km trend and is currently drilling two high-priority targets at Faisanes and Nava. Some of these exploration targets consist of old shallow pits, caved shafts and historic shallow underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures in a felsic volcanic environment. Mapping and sampling by Goldplay have revealed evidence of dacite-rhyolite dome structures in a highly prospective geological environment for additional high-grade gold and silver discoveries.

 

The El Habal Project is a drill-stage project. Its oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historic shallow underground mining along a 6 km-long prospective corridor. The El Habal Project is located near the historic gold-silver Rosario Mine which operated for over 250 years.

 

Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries.

 

The NI 43-101 reports for each of the San Marcial and El Habal Projects are available on SEDAR.

 

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

                                                                  

Mr. Marcio Fonseca

  1. Geo, President & CEO

Goldplay Exploration Ltd.

 

For Further Information:

Contact: +1 (604) 202 3155

Email: info@goldplayexploration.com

 

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

 

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Goldplay Exploration Ltd. Issues Shares for Services

Goldplay Exploration Ltd. (TSXV: GPLYFRANKFURT: GPE, OTCQB: GLYXF) (“Goldplay” or the “Company”) announces that it has made its final issuance of shares to a drilling contractor engaged under the shares for services previously announced on May 16, 2019.  Under this issuance, the Company has issued 259,443 common shares at a deemed price of $0.185/share for services valued at $47,997. These shares are subject to a hold period expiring April 21, 2020, in accordance with applicable securities laws.

About Goldplay Exploration Ltd.

Goldplay has successfully consolidated a district-sized portfolio, owning >250 sq. km of mineral concessions in the historic Rosario gold-silver Mining District in the state of Sinaloa, Mexico. Its flagship project, San Marcial, consists of a 1,250 ha land package located south of the La Rastra and Plomosas historic mines. San Marcial is a near-surface, high-grade silver, lead, and zinc open pit amenable project for which a NI 43-101 resource estimate was completed by Goldplay in early 2019. Additionally, high-grade gold was drilled in July 2019 at San Marcial, opening up the potential for further gold success. Goldplay’s 100% owned El Habal precious metals project is located 20 km west of the San Marcial Project. It comprises 3,700 hectares and is located 75 km southeast of the modern coastal port of Mazatlán, and 10 km on a paved road from the historic mining town of Rosario, Sinaloa, Mexico.

Goldplay’s current focus includes expanding its NI 43-101 resource estimate at the San Marcial project, which contains 36Moz Ag Eq (indicated) + 11Moz Ag Eq (Inferred), by defining new high-grade gold and silver targets along the project’s 6 km mineralized trend. Goldplay is the first company to perform exploration work at San Marcial in over 10 years. It is a low-risk development stage project, fully exploration permitted and supported by the local communities to carry out all proposed exploration activities. Only 500 m of the 6 km trend has been drilled to date, highlighting the significant potential for further discoveries. The Company has identified 8 high-priority targets along the 6 km trend and is currently drilling two high-priority targets at Faisanes and Nava. Some of these exploration targets consist of old shallow pits, caved shafts and historic shallow underground workings in areas with extensive hydrothermal alteration, hosted by major regional structures in a felsic volcanic environment. Mapping and sampling by Goldplay have revealed evidence of dacite-rhyolite dome structures in a highly prospective geological environment for additional high-grade gold and silver discoveries.

The El Habal Project is a drill-stage project. Its oxidized gold mineralized zone outcrops along a series of rolling hills with evidence of historic shallow underground mining along a 6 km-long prospective corridor. The El Habal Project is located near the historic gold-silver Rosario Mine which operated for over 250 years.

Goldplay’s team has over 30 years of experience with senior roles in exploration, financing, and development in the mining industry, including over ten years of extensive exploration experience in the Rosario Mining District, leading to previous successful discoveries.

The NI 43-101 reports for each of the San Marcial and El Habal Projects are available on SEDAR.

Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Mr. Marcio Fonseca
P. Geo, President & CEO
Goldplay Exploration Ltd.

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

SOURCE Goldplay Exploration Ltd

For further information: +1 (604) 202 3155, Email: info@goldplayexploration.com

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White Gold: Vertigo Discovery Results Q&A

On December 19, 2019 White Gold (V.WGO) released drill results from its Vertigo Discovery on the JP Ross property in Yukon. We asked the company to give us a bit of background on the results and what its plans are for the Vertigo Discovery going forward.

What is the Vertigo gold discovery and how were your latest diamond drill results?

The Vertigo is one of White Gold Corp’s recent high-grade, near surface, gold discoveries generated through its methodological and data-driven exploration strategy. Drilling to date has encountered significant high-grade gold structures with mineralization noted in every completed hole. The high-grade structures encountered are located within a broad mineralized zone with the structures and mineralized zone open in multiple directions, including at depth. The Vertigo discovery is primarily comprised of a 1.5km mineralized trend, which forms part of a currently estimated 250km2 mineralized system with numerous newly identified targets being tested.

You talk about “fence drilling”. Can you describe what that is and why WGO does it?

As the Vertigo has only seen limited drilling prior to this year, we wanted to establish the basic geometry of these multiple mineralized structures through a ‘Phase 1’ of drilling. This allows us to obtain initial visibility on the scale, size and direction of the Vertigo trend, and allows us to make evidence-based decisions on the targeted, follow up ‘Phase 2’ drilling.  This Phase 1 consisted of a series of 3 widely spaced ‘fences’ of drill holes, with each fence 100m apart, and approximately 110m between each of the 4-6 holes on the fence. This provided an invaluable initial understanding of both the vertical and lateral continuity of the mineralized structures, with the Phase 2 drilling also intercepting the multiple high-grade, near surface WNW trend of the Vertigo structures, including drill hole JPRVER19D0049 intersecting 3.92 g/t Au over 1.68 metres of from 19.9m depth and 4.31 g/t Au over 11.60m from 31.00m depth, and hole JPRVER19D0050 returned 2.6 g/t Au over 3.1m from 13.1m depth, 15.85 g/t Au over 0.5m from 25.5m depth and 0.86 g/t Au over 53.6m from 48.00m depth. Individual assays on the Vertigo were up to 141 g/t gold.

Are most of these latest reported gold intercepts at Vertigo near surface?

You’ve touched upon one of the best characteristics of the Vertigo discovery and the majority of our gold discoveries in the White Gold District of Yukon, the near surface factor of our high-grade mineralization. Although it is still early days on the exploration at Vertigo, we consistently encounter high-grade gold mineralization at relatively shallow depths, which indicates the strong future economics of these gold structures.

Looking forward, any plans for more drilling at Vertigo next season?

Follow is definitely warranted as we have tapped into what looks to be a major structurally controlled mineralized zone. Each year our technical team uses the winter season to process all the exploration data, so planning for our 2020 season is ongoing. With these latest exciting results on the Vertigo, combined with our previous positive results on Titan, Golden Saddle & Arc and other targets, we are in an enviable position as we are spoiled for choice for strong projects to concentrate on for next year. Once we have sufficiently processed all of our data from this season, we will finalize and announce our exploration strategy for next year. We definitely have a lot of exciting results to follow up on.

In the release you talk about your exploration methodologies, can you give us some description on that?

We own the largest land package in some of the most prospective and gold rich territory in the world, for which we have developed a proprietary methodical data-driven exploration strategy customized for this unique unglaciated terrain which is known as our “Drones to Drills” approach. This systematic exploration method combines geophysics, extensive soil sampling and other techniques, with cutting-edge technologies such as LiDAR, airborne mag-radiometric surveying and the unique GT Probe, a replacement for trenching that samples bedrock quickly and with minimal environmental impact. This allows White Gold to quickly and cost effectively build an extremely detailed picture of a particular area, identifying the most attractive drill targets. The approach has been very effective to date and resulted in several very significant gold discoveries in the district, including the Coffee deposit which was acquired by Goldcorp in 2016 for over $500M.

 

You can read our Q&A with White Gold on its Titan Target at the company’s Hen property here 

 

 

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White Gold Corp. Drills 4.31 g/t Au over 11.6m from 31.0m depth, Extends High-Grade Mineralized Structures Within Large Mineralized Zone at Vertigo Discovery, JP Ross Property

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to announce diamond drill results on the Vertigo target, located 25km north west of the Company’s flagship Golden Saddle & Arc deposit, on the road accessible JP Ross property, in the prolific White Gold District, Yukon, Canada. The Vertigo is one of the Company’s recent high-grade, near surface, gold discoveries generated through its methodological data driven exploration strategy. Drilling to date has encountered significant high-grade gold structures within a broad mineralized zone which remains open in all directions. The Vertigo is comprised of a 1.5km mineralized trend forming part of a 250km2 mineralized system with numerous newly identified targets. White Gold Corp’s fully-funded $13 million 2019 exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC) includes diamond drilling on the Vertigo target (JP Ross property), Golden Saddle & Arc deposits (White Gold property) as well as soil sampling, prospecting, GT Probe, trenching and RAB/RC drilling on various other properties across the Company’s expansive land package located in the prolific White Gold District, Yukon, Canada.

Highlights Include:

  • Successfully confirmed continuity of high-grade, near surface, gold mineralization at the Vertigo target consisting of multiple high-grade mineralized structures open along strike and at depth hosted within a broad shallow dipping mineralized zone.
  • All Vertigo diamond drill holes completed intersected gold mineralization, and a minimum of 6 high-grade mineralized structures have been identified.
  • Drill hole JPRVER19D0049 returned 4.31 g/t Au over 11.60m from 31.00m depth.
  • Drill hole JPRVER19D0050 returned 2.6 g/t Au over 3.1m from 13.1m depth, 15.85 g/t Au over 0.5m from 25.5m depth and 0.86 g/t Au over 53.6m from 48.00m depth.
  • Previously released Phase 1 diamond drill highlights included hole JPRVER19D0005 returning 9.61 g/t Au over 4.15m from 20m depth, including 94.2 g/t Au over 0.32m from 21m depth, and hole JPRVER19D0015 returning 0.42m of 141 g/t Au within a broader envelope of mineralization that averaged 11.64 g/t Au over 5.34m from 3m depth, and 18.46 g/t Au over 2.48m from 92m depth(1).
  • 10 additional gold targets identified to date across the JP Ross property, including Sabotage, Topaz, Stage Fright, Frenzy and multiple others.
  • Results continue to validate a robust 250km2 area with multiple known zones of mineralization hosted by regional scale structures in a prolific placer mining camp, including the 15km Vertigo trend.
  • Additional regional drill results from the JP Ross and White Gold property targets to be released in due course.

 

  •  

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

 

  • See White Gold Corp. News Release dated August 8, 2019, available on SEDAR.

 

“We are very pleased with the abundance of gold mineralization encountered at Vertigo to date, highlighted by the presence of multiple high-grade structures which continue to remain open in all directions. These results validate the Vertigo target to be a structurally controlled mineralized zone forming part of a regional-scale system, including the recently discovered Sabotage, Topaz, North Frenzy and multiple other gold targets across our JP Ross property. To date at least 10 gold targets have been identified over a 250km2 area on the JP Ross property, with Vertigo being the first to have received follow up diamond drilling,” stated David D’Onofrio, Chief Executive Officer. “These results have provided valuable insight into the nature and geometry of the mineralization and a better understanding of the local geology. These results in addition to previously completed regional exploration have also provided increased confidence in our methodologies as well as the potential for additional discoveries as our exploration team continues to explore the other targets on the JP Ross and our other properties. We look forward to the results from the exploration performed to date on these other targets and following up on the success of this program.”

 

Vertigo Target – Current Interpretation

Mineralization at the Vertigo is hosted within a network of WNW trending, moderate to steeply south dipping, shallow structures that are subparallel to topography. Individual structures are typically up to 3m and host high-grade mineralization associated with quartz veining, brecciation, and strong sericite-quartz alteration with local fine-grained visible gold, disseminated to locally massive arsenopyrite, galena, chalcopyrite and pyrite. The high-grade intervals pinch and swell both laterally and vertically with the strongest mineralization occurring where the structures cross lithologic contacts; particularly fine-grained amphibolite and felsic gneiss. The high-grade mineralization occurs within broader envelopes of lower grade mineralization (<0.1 g/t Au) that define a SE plunge to the overall system. The system also appears to have been cut by at least 3, late, NE oriented structures which have locally truncated and offset the mineralization. To date the drilling has defined the system approximately 300m along strike, 200m in width, and 275m down-dip. The system is open along strike and down plunge to the SE with strong potential for expansion.

 

Vertigo – 2019 Diamond Drilling

A total of 9,568m of diamond drilling over 46 holes was completed on the Vertigo in 2019. The drilling was conducted over 2 Phases, as discussed below, with a focus on defining the geologic and structural controls on mineralization in the area and follow up drilling on significant mineralized zones as warranted.

 

Phase 1 of diamond drilling at Vertigo was completed on 3 drill fences (Sections VER-000, 100W, & 200W) that transect across the core of the Vertigo target area at an azimuth 020°, establishing the geometry and vertical and lateral continuity of geology and mineralized structures originally intersected in 2018 RAB/RC drilling. The fences consisted of 4 – 6 drill set-ups per fence, spaced approximately 110m apart, with two holes drilled per set-up at angles of -45° and -60°. Partial results from Phase 1 drilling were previously released, and included hole JPRVER19D0005 returning 9.61 g/t Au over 4.15m from 20m depth, including 94.2 g/t Au over 0.32m from 21m depth; and hole JPRVER19D0015 returning 0.42m of 141 g/t Au within a broader envelope of mineralization that averaged 11.64 g/t Au over 5.34m from 3m depth and 18.46 g/t Au over 2.48m from 92m depth.1

 

Phase 2 of diamond drilling at Vertigo was to follow up on drill holes completed on the fences mentioned above, in an effort to refine geology and continuity; along the west-northwest structural trend. The holes are discussed below in numeric order, with their positions referenced to Holes xD0005 and xD0006 which were drilled beneath the original Vertigo discovery trench (Trench2) from pad VER19-A/B. All holes were drilled at an azimuth of 020° degrees with the exception of hole xD0050, which was drilled at an azimuth of 200°. Assay values for individual samples for the reported intercepts ranged from trace to 32.5 g/t Au. There is not enough information to estimate true thickness of the intercepts at this time.

 

 

Vertigo – Phase 1 Diamond Drilling Highlights

The below table consists of new diamond drilling results from the Phase 1 fence drilling completed in 2019.

 

HOLE IDFROMTOLengthAu g/t
JPRVER19D00164.005.001.001.75
JPRVER19D00168.609.601.0032.50
JPRVER19D001629.8031.001.201.40
JPRVER19D001915.2015.800.6032.20
JPRVER19D001920.1621.351.191.11
JPRVER19D001949.4050.300.901.05
JPRVER19D001970.8571.350.504.15
JPRVER19D0019150.40152.001.401.33
JPRVER19D0019237.20237.970.771.06
JPRVER19D0020127.45128.30.851.10
JPRVER19D002120.2521.51.2013.00
JPRVER19D002155.357.11.803.60
JPRVER19D0021153.35154.851.502.82
JPRVER19D002230.5033.252.751.21
inc.30.5031.200.703.88
JPRVER19D002322.4023.501.102.46
JPRVER19D002332.7036.754.052.17
JPRVER19D002449.9050.800.901.65
JPRVER19D002527.3030.853.553.97
inc.29.3029.850.5518.30
JPRVER19D002541.6542.200.553.49
JPRVER19D002549.0053.304.301.50
JPRVER19D002657.6258.370.753.58
JPRVER19D0027136.00137.221.221.29
JPRVER19D002885.4586.200.756.04
JPRVER19D0028119.45120.300.852.80
JPRVER19D0030106.32107.000.681.99
JPRVER19D0030112.93114.001.072.27
JPRVER19D0032172.94174.001.061.36
JPRVER19D0032194.04195.000.965.51
JPRVER19D003310.2513.002.750.71
JPRVER19D003624.6425.300.664.18

 

 

Vertigo – Phase 2 Diamond Drilling Highlights

The below table consists of diamond drilling results from the Phase 2 targeted drilling completed in 2019.

 

HOLE IDFROMTOLengthAu g/t
JPRVER19D003930.5033.002.500.77
JPRVER19D004045.3348.973.644.74
inc.47.4048.971.577.26
JPRVER19D004055.7556.600.851.92
JPRVER19D004134.2540.356.102.10
JPRVER19D00429.0012.803.803.41
JPRVER19D004322.7538.5515.801.51
inc.30.2037.607.402.09
JPRVER19D004454.0055.001.005.77
JPRVER19D004462.2063.351.152.85
JPRVER19D004531.6033.301.701.16
JPRVER19D004548.0051.003.000.96
JPRVER19D004639.1540.501.350.91
JPRVER19D00478.358.900.552.79
JPRVER19D004718.0019.001.001.26
JPRVER19D004767.5068.200.7012.50
JPRVER19D004783.0884.000.923.09
JPRVER19D004813.0014.201.205.35
JPRVER19D004820.5023.803.304.12
JPRVER19D0048143.70151.607.901.03
inc.149.00151.602.602.49
JPRVER19D004919.9021.581.683.92
JPRVER19D004931.0042.6011.604.31
inc.37.5040.002.509.98
JPRVER19D005013.1016.203.102.60
JPRVER19D005025.5026.000.5015.85
JPRVER19D005048.00101.6053.600.86
inc.51.3052.801.501.98
and55.9057.902.001.05
and63.0065.382.386.92
inc.64.5065.380.8816.50
and80.7084.503.800.79
and94.75101.606.851.59

 

 

Fence section VER-000W

  • Consists of holes JPRVR19D0005, 6, 7, 8, 9 11, 12, 14, 32, 34 & 35
  • Results for JPRVER19D0005, 6, 7, 8, 9, 11, 12, 14 were previously released(1).

JPRVR19D0032, 34 & 35

Holes x032, 34, and 35 were drilled from the same pad and are located at the north end of the section, 95m to the north of holes x009 and x011.   Hole x032 was drilled at a -45° dip and intercepted two short intervals of mineralization including 1.06m of 1.36 g/t Au from 172.94m and 0.96m of 5.51 g/t Au from 194.04m.

 

Hole x034 was drilled at a -60° dip but failed at 30m, so a second hole, x035 was drilled at -60°, which intersected several narrow, anomalous zones with Au values of up to 0.218 g/t Au.

 

 

Fence section VER-100W

  • Consists of holes JPRVR19D00010, 13, 15, 16, 22, 24, 36 & 38
  • Results for JPRVR19D00010, 13, 15 were previously released(1).

JPRVR19D0016

Hole x016 was drilled at a -60° dip from the same pad as, and undercutting, x015. It intersected the same shallow, high grade zone as intersected in x015 (0.42m of 141.0 g/t Au), returning 1.0m of 32.50 g/t Au from 8.60m. Lower in the hole it intersected 3 gold bearing zones with anomalous gold values but did not return any zones >0.2 g/t Au.

 

JPRVR19D0022 & 24

Holes x022 and x024 were drilled from the same pad 105 metres to the south of x015/x016. Hole x022 was drilled at -45° and intersected 2.75m of 1.21 g/t Au from 30.50m. Hole x024 was drilled at -60° and intersected 0.90m of 1.65 g/t Au from 49.90m. These two intersections may represent a steeply northerly dipping mineralized zone.

 

JPRVR19D0036 & 38

Holes x036 and x038 were drilled from the same pad 205 metres to the north of x015/x016 and are the two northernmost holes on this section. Hole x036 intersected 0.66m of 4.18 g/t Au from 24.64m and encountered 2 other narrow gold bearing zones with values of up to 0.267 g/t Au, all at depth of 70m or less. Hole x038 was a -60° undercut hole which intersected 3 gold bearing zones with anomalous gold values up to 0.368 g/t Au.

 

Fence Section VER-200W

  • Consists of holes JPRVR19D0017, 18, 19, 20, 21, 23, 25, 26, 27, 28, 29, 30, 31 & 33.
  • Section is 105 m to the west of section VER-100

JPRVR19D0017, 18 & 20

All three of these holes were drilled from the same pad, 110m northwest of holes JPRVER19D022 and 024, which are on section VER-100W. Hole x017 failed at 19m and was re-drilled as x018 at a -60° dip and hole x020 was drilled at a dip of -45°. Hole x020 intersected 0.85m of 1.10 g/t Au from 127.45m, otherwise both holes intersected   3 narrow gold bearing zones each, with values of up to 0.577 g/t Au.

 

JPRVR19D0027 & 29

Holes x027 and x029 were drilled from the same pad 106 m to the south of JPRVER19D017, 018 and 020. X027 was drilled at a -45° dip and x029 at a -60° dip. Hole x027 intersected 1.22m of 1.29 g/t Au from 136.005m, otherwise   3 narrow gold bearing zones with values of up to 0.693 g/t Au were intersected between the two holes.

 

JPRVR19D0019 & 21

Holes x019and x021 were drilled from the same pad 94m to the north of JPRVER19D017, 018 and 020. Hole x019 was drilled at a -45° dip and intersected high-grade mineralization consisting of 0.60m of 32.20 g/t Au from 15.20m. The hole also intersected several other gold bearing zones the most significant of which were 0.90m of 1.05 g/t Au from 49.4m, 0.50m of 4.15 g/t Au from 70.85m and 1.60m of 1.33 g/t Au from 150.4m. These gold bearing zones are broader (4.0m – 6.0m) when low grade material (0.10 – 0.50 g/t) is considered.

 

Hole x021 was drilled at a -60° dip and also intersected several zones including, 1.20m of 13.0 g/t Au from 20.25m, 1.80m of 3.60 g/t Au from 55.3m and 1.50m of 2.82 g/t Au from 153.35m. The upper high-grade zone correlates well with the high-grade intersection at the top of x019.

 

JPRVR19D0023 & 25

Holes x023and x025 were drilled from the same pad 196m to the north of JPRVER19D017, 018 and 020. Hole x023 was drilled at a -45° dip and intersected 3 gold bearing zones the most significant consisting of 1.10m of 2.46 g/t Au from 22.40m and 4.05m of 2.17 g/t Au from 32.70m.

 

Hole x025 was drilled at a -60° dip and intersected 4 gold bearing zones the most significant being 3.55m of 3.97 g/t Au from 27.93 including 0.55m of 18.30 g/t Au from 29.30m, 0.55m of 3.49 g/t Au from 41.65m and 4.30m of 1.50 g/t Au from 49.00m.

 

JPRVR19D0031 & 33

Holes x031and x033 were drilled from the same pad 296m to the north of JPRVER19D017, 018 and 020. Hole x031 was drilled at a -45° dip and intersected 4 gold bearing zones however none of the values were significant.

 

Hole x033 was drilled at -60° and intersected 3 gold bearing zones the most significant of which was 2.75m of 0.71 g/t Au from 10.25m.

 

JPRVR19D0026, 28 & 30

These holes were all drilled from the same pad, the northernmost on section VER-200, 396m to the north of JPRVER19D017, 018 and 020. Hole x026 was drilled at a -45° dip and intersected several gold bearing zones the most significant of which was 0.75m of 3.58 g/t Au from 57.62m.

 

Hole x026 was drilled at -60° and intersected 4 gold bearing zones the most significant of which were 0.75m of 6.04 g/t Au from 85.45m and 0.85m of 2.80 g/t Au from 119.45m.

 

Hole x030 was drilled at -70° and intersected 4 gold bearing zones the most significant of which were 0.68m of 1.99 g/t Au from 106.32m and 1.07m of 2.27 g/t Au from 112.93.

 

JPRVER19D0039 & 40

Holes xD0039 and xD0040 were drilled from the same pad 47 metres southeast of pad VER19-A/B. Hole xD0039 was drilled at -50° and intersected 1 gold bearing zone of 2.50m of 0.77 g/t Au from 30.50m. Hole x0040 was drilled at -85° and intersected two gold bearing zones the most significant consisting of 3.64m of 4.74 g/t Au from 45.33m, including 1.57 metres of 7.26 g/t Au from 47.40m.

 

JPRVER19D0041 & 42

Holes xD0041 and XD0042 were drilled from the same pad 46 metres northwest of pad VER19-A/B. Hole xD0041 was drilled at -50° and intersected one gold bearing zone consisting of 6.10m of 2.10 g/t Au from 34.25m. Hole xD0042 was drilled more steeply at -80° and also intersected one gold bearing zone consisting of 3.80m of 3.41 g/t Au from 9.00m.  

 

JPRVER19D0043 & 44

Holes xD0043 and XD0044 were drilled from the same pad 78 metres southeast of pad VER19-A/B. Hole xD0043 was drilled at -50° and intersected one broad gold bearing zone consisting of 15.80m of 1.51 g/t Au from 22.75m. Hole xD0044 was drilled at -85° and intersected two gold bearing zones the most significant consisting of 1.00 metre of 5.77 g/t Au from 54.00m.

 

JPRVER19D0045 & 46

Holes xD0045 and XD0045 were drilled from the same pad 43 metres southwest of pad VER19-A/B. Hole xD0045 was drilled at -50° and intersected two gold bearing zones the most significant consisting of 1.70m of 1.15 g/t Au from 31.60m. Hole xD0046 was drilled at -85° and intersected one gold bearing zone consisting of 1.35m of 0.91 g/t Au from 39.15m.

 

JPRVER19D0047, 48 & 49

Holes xD0047, xD0048 and xD0049 were all drilled from the same pad 150 metres west of pad VER19-A/B. Hole xD0047 was drilled at -50° and intersected four gold bearing zones the most significant consisting of 0.7m of 12.50 g/t Au from 67.50m. Hole xD0048 was drilled at -70° and intersected three gold bearing zones including 3.30m of 4.12 g/t Au from 20.50m and 7.90m of 1.03 g/t Au from 143.70m. Finally, xD0049 intersected two gold bearing zones, the most significant consisting of 11.60 metres of 4.31 g/t Au from 31.00m, including 2.50m of 9.98 g/t Au from 37.50m

 

JPRVER19D0050

Hole xD0050 was drilled 70m east-northeast of drill pad VER19-A/B. It was drilled at an azimuth of 200° and a dip of -45°. The hole intersected three gold bearing zones including 3.10m of 2.60 g/t Au from 13.10m, 0.50m of 15.85 g/t au from 25.50m, and a broad interval consisting of 53.60m of 0.86 g/t Au from 48.00m that includes 0.88m of 16.50 g/t Au from 64.50m and 6.85m of 1.59 g/t Au from 94.75m.  

 

QA/QC

The analytical work for the 2019 drilling program was performed by ALS Canada Ltd. an internationally recognized analytical services provider, at its North Vancouver, British Columbia laboratory. Sample preparation was carried out at its Whitehorse, Yukon facility. All RC chip and diamond core samples were prepared using procedure PREP-31H (crush 90% less than 2mm, riffle split off 500g, pulverize split to better than 85% passing 75 microns) and analyzed by method Au-AA23 (30g fire assay with AAS finish) and ME-ICP41 (0.5g, aqua regia digestion and ICP-AES analysis). Samples containing >10 g/t Au were reanalyzed using method Au-GRAV21 (30g Fire Assay with gravimetric finish).

 

The reported work was completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standard, blanks and duplicates into the sample stream.

 

About White Gold Corp. The Company owns a portfolio of 21,207 quartz claims across 33 properties covering over 422,730 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t Au and 508,800 ounces Inferred at 1.48 g/t Au. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Goldcorp Corporation with a M&I gold resource(2) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(2) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.

 

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

 

Qualified Person

Jodie Gibson, P.Geo., Technical Advisor, and Andrew Hamilton, P.Geo., Exploration Manager, for the Company are each a “qualified person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, and each has reviewed and approved the content of this news release.

 

Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral

resource at the Vertigo target, and it is uncertain if further exploration will result in the target being delineated as

a mineral resource.

 

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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