gold

Posts, updates and videos about gold – updated automatically

Renforth Resources: Bulk Sample

As usual, Nicole Brewster, CEO of Renforth Resources (C.RFR) accompanied yesterday’s press release with a note to shareholders,

“Our initial focus for blasting will also be in the main blast area, where we sampled gold on surface, SGS is currently testing that material.
History repeats itself, we are working to blast the blast area….and obtain a mini-bulk sample to process for recovery of gold…if that works it is a transformative step for Renforth.”

Read the whole thing here.

The ability to bulk sample relatively high grade material at surface gives Renforth the capacity to have material to process. As there are mills nearby this could mean that Renforth actually makes money this year. Very few junior explorers are able to generate any cash while they are still exploring. If Nicole can pull this off it really will be “transformative”.

 

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Renforth Commences New Alger Gold Project Spring Field Program

JUNE 3, 2020 Renforth Resources Inc. (CSE – RFR) (OTC Pink – RFHRF) (WKN – A2H9TN) (“Renforth” or the “Company”) is pleased to announce that exploration on the Discovery Veins, at our wholly owned New Alger Gold Project, has commenced. The June 2020 program has several targets, as follows;

1 – PROSPECTING – During the Feb/March drill program at New Alger a trail and drill pads were chipped along the western extension of the Discovery Veins. These will be prospected and sampled as warranted.

2 – GEOPHYSICS – At PDAC Renforth successfully tested samples from the Discovery Veins and Malartic West using a beep mat built by GDD Instrumentation of Quebec City. A comprehensive beep mat survey is planned.  The beep mat, which can survey to a depth of several metres, will allow Renforth to carry out a non-invasive survey with use of a synchronized GPS, this reduces the cost, eliminates cutting and reduces the impact of the survey.

3 – MINI-BULK SAMPLING – Renforth intends to obtain a mini-bulk sample from the Discovery Veins with two goals, the first is to create fresh rock exposure within the mineralized Discovery Veins for geological purposes, the second is to process the sample. The first step is contingent on contractor availability, the second step will be informed by the findings of the metallurgical work currently underway with SGS Canada on material from the Discovery Veins. Renforth hopes to advance this goal during June 2020.

  1. Sabina, Anne P., Geological Survey of Canada Miscellaneous Report 77, “Rocks and Minerals for the Collector” page 133, 2003 (pre-dates NI 43-101, historic disclosure, presented here for property history)

 

Technical information in this press release has been reviewed and approved by Brian H. Newton P.Geo, a Qualified Person pursuant to National Instrument 43-101.

For further information please contact:

Renforth Resources Inc.

Nicole Brewster

President and Chief Executive Officer

T:416-818-1393

E: nicole@renforthresources.com

#269 – 1099 Kingston Road, Pickering ON L1V 1B5

ABOUT RENFORTH

Renforth Resources Inc. is a Toronto-based gold exploration company with five wholly owned surface gold bearing properties located in the Provinces of Quebec and Ontario, Canada.

In Quebec Renforth holds the New Alger and Parbec Gold Resource Properties, in the Cadillac and Malartic gold camps respectively, with gold present at surface and to some depth, located on the Cadillac Break. In both instances additional gold bearing structures, other than the Cadillac Break, have been found on each property and require additional exploration. Renforth also holds Malartic West, contiguous to the western boundary of the Canadian Malartic Mine Property, located in the Pontiac Sediments, this property is gold bearing and was the recent site of a copper discovery.  In addition to this Renforth has optioned the wholly owned Denain-Pershing gold bearing property, located near Louvicourt, Quebec, to O3 Mining Inc.

In Ontario, Renforth holds the Nixon-Bartleman surface gold occurrence west of Timmins, Ontario, drilled, channeled and sampled over 500m – this historic property also requires additional exploration to define the extent of the mineralization.

No securities regulatory authority has approved or disapproved of the contents of this news release.

Forward Looking Statements

This news release contains forward-looking statements and information under applicable securities laws.  All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as ‘may’, ‘will’, ‘plan’, ‘expect’, ‘believe’, ‘anticipate’, ‘estimate’, ‘intend’ and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company’s securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.

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White Gold Overviews

Greg Nolan stands back and looks at the whole White Gold (V.WGO) story.

“Ryan figured out that extracting, assaying, and mapping soil samples is the key to diving the district’s subsurface mineral potential. Just as importantly, he figured out that traditional soil samples—your standard six-inch-deep ‘B-Horizon’ type samples taught in geo-school—was insufficient. You need to go at least 2 1/2 feet down to get a proper response in this region.

Soil augers, on a tightly spaced grid, is how Ryan is systematically exploring this expansive land base.

Between White Gold’s property boundaries and Newmont-Goldcorp’s Coffee Gold Project boundary, Ryan and crew have mapped over 400,000 soil samples… so far. That’s dedication. That’s using good science to home in on gold, base metals, epithermal, mesothermal, mother-lode—whatever the regions subsurface layers may hold.”

Read the whole thing here.

The biggest obstacle White Gold faces is that it has so many stories going on that it is tough for the retail investor to keep up.

Bob Moriarty isn’t even trying. Instead,

“Eric Sprott gets it.

Kinross gets it.

Agnico Eagle gets it.

You don’t have to be as knowledgeable as they are. You can ride on their expertise and experience in the Yukon. Kinross and Agnico Eagle each own just over 17% of the company. They have the right to maintain their level of ownership and when Eric Sprott expressed an interest in investing, they bellied up to the bar to keep their same participation.”

Read the whole thing here.

The placer gold which fueled the Klondike gold rush came from somewhere. The hills surrounding the placer sites around Dawson City would seem the obvious place to look and Shawn Ryan and the team at White Gold has had consistent success. The big question is when will WGO spin its first project out. We may find out this summer or fall.

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Cartier Cuts 16.5 g/t Au over 4.5 m at Chimo Mine 500 m below the New Zones 5B4-5M4-5NE

Highlights:

  • Mineralised intersection of 32.0 g/t Au over 2.0 m included within 16.5 g/t Au over 4.5 m, also included within 7.1 g/t Au over 12.1 m, located 500 m below the new Zones 5B4-5M4-5NE in the East Sector of the Chimo Mine Property;
  • The results of this press release, factored with those of the May 21st 2020April 7th 2020 and February 18th 2020 press releases, increase the potential for expansion of the resource estimate to date for the new Zones 5B4-5M4-5NE (FIGURE);
  • Cartier Drill Hole Results – May 28th, 2020, Zones 5B4-5M4-5NE
    200528_5B4-5M4-5NE_FIGURE
    Cartier Drill Hole Results – May 28th, 2020, Zones 5B4-5M4-5NE
  • The Chimo Mine Property hosts three gold-bearing corridors (North, Central and South) that to date host the following mineral resources:
    — 4,017,600 tonnes at an average grade of 4.53 g/t Au for a total of 585,190 ounces gold in the Indicated Category;
    — 4,877,900 tonnes at an average grade of 3.82 g/t Au for a total of 597,800 ounces gold in the Inferred Category.

VAL D’OR, Quebec, May 28, 2020 (GLOBE NEWSWIRE) — Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) announces values of 32.0 g/t Au over 2.0 m included within 16.5 g/t Au over 4.5 m, also included within 7.1 g/t Au over 12.1 m, intersected at a distance of 500 m below the new Zones 5B4-5M4-5NE of the Chimo Mine Property, located 45 km east of Val-d’Or.

“These new results indicate that the gold mineralisation is open in all directions below Zones 5B4-5M4-5NE which have been drilled to date from surface to a depth of 1,300 m” commented Philippe Cloutier, President and CEO, adding “growing the dimensions of the cluster of Zones 5B4-5M4-5NE is an important addition to the development potential of the project.”

The details of the new results are as follows:

Drill HoleDrill Hole Collar
Coordinate (m)

UTM (E/N/Elev.)
Azimut (°) /
Dip (°)
From
(m)
To
(m)
Length
(m)
Au
(g/t)
Gold
Zone
Gold
Structure
CH19-55B332529/5320363/-518200 / -661,321.51,323.52.032.05NE5N
Included in1,319.01,323.54.516.5
Included in1,317.41,329.512.17.1
CH19-54332674/5320415/381200 / -821,152.01,160.08.01.4
CH19-54BW332577/5320163/-459199 / -491,181.01,190.59.51.15CE5C

The lengths of the mineralized intersections are expressed in lengths measured along the drill core.  The estimated true thickness of the mineralized intersections represents approximately 85 to 90% of the measured length.

Recall that, on May 5th 2020, using a price of gold of 1,300 $ US / oz and a cut-off grade of 2.5 g/t Au, the Chimo Mine property now hosts mineral resources of (FIGURE):

Gold Corridors
Cut-off Grade
2.5 g/t Au
Indicated ResourcesInferred Resources
Metric
Tonnes (t)
Grade
(g/t Au)
Troy Ounce
(oz)
Metric
Tonnes (t)
Grade
(g/t Au)
Troy Ounces
(oz)
Central (1)3,263,3004.40461,2803,681,6003.53417,250
North (2)505,3005.3586,860715,7004.59105,710
South (2)249,0004.6337,060480,6004.8474,840
Total4,017,6004.53585,1904,877,9003.82597,800

Note 1 :   Cartier Files NI 43-101 Technical Report on SEDAR for First Mineral Resource Estimate of the Central Gold Corridor on the Chimo Mine Property, GéoPointCom Inc. (2019)
Note 2 :   Cartier Increases Gold Resources of the Chimo Mine Property, InnovExplo Inc., May 5 2020

Zones 5B4-5M4-5NE and 5CE, situated 450 m east of the underground infrastructures are being drilled in order to increase the resource over a distance of 550 m below known zones.  The length of this cluster of gold-bearing zones is known over 1,300 m.

As well, internal engineering studies and tests of industrial sorting of the mineralization are in progress in order to assess possibilities of cost reduction while increasing gold ounce recuperation, which in turn could contribute to increasing the mineral resource of the property.  The first internal engineering study was completed with positive conclusions.

About Chimo Mine Project

  • Cartier holds a 100% interest in the property for which 1% NSR (” Net Smelter Return ”) royalty has been granted to IamGold Corporation.  No rights of first refusal (” buy-back ”) have been granted.
  • The property, which is accessible year-round, is located near 6 mills in the Val-d’Or area.
  • Fourteen gold zones were exploited by 3 producers between 1964 and 1997 for a production of 379,012 ounces of gold (MERN DV 85-05 to DV-97-01).
  • The mining infrastructure consists of a network of drifts over 7 km, distributed over 19 levels and connected by a 5.5 m x 1.8 m with 3 compartment shaft for a depth of 920 m.  The headframe and the surface installations were dismantled in 2008 but the 25 kV power line and the sandpit are still in place.
  • The drilling, completed to date by Cartier on the Chimo Mine Property, consists of 121 holes totaling 55,890 m and 20,792 gold samples collected.  This work demonstrated the continuity of the main 5B and 5M gold zones under the existing mining infrastructure, explored the extensions of 19 gold zones peripheral to the main zones and explored the extensions of the 7 gold zones that were prioritized; which allowed the discovery of the Zones 5B4-5M4-5NE and 5CE and to develop the potential of Zone 6N1.  These areas have excellent potential to deliver future discoveries.

About Cartier Resources Inc.

Cartier Resources Inc., founded in 2006, is based in Val-d’Or, Quebec.  The province has consistently ranked as one of the best mining jurisdictions in the world, primarily because of its favorable geology, attractive fiscal environment and pro-mining government.

  • The company has a strong cash position with more than $ 5.7 million, as well as a significant corporate and institutional endorsement including Agnico Eagle Mines and Quebec investment funds.
  • Cartier’s strategy is to focus on gold projects with features that offer the potential for rapid growth.
  • The Company holds a portfolio of exploration projects located in the Abitibi Greenstone Belt in Quebec; one of the most prolific mining regions in the world.
  • The company is focused on advancing its 4 key projects through drilling programs. All of these projects were acquired at reasonable costs in recent years.  All are drill-ready with targets along the geometric extension of known gold deposits.
  • Exploration work is currently focused on the Chimo Mine Property to maximize value for investors.  The preparation of the next exploration work is underway to carry out drilling programs respectively on the Benoist, Fenton and Wilson properties.

Qualified Persons
The scientific and technical information of the Company and the Chimo Mine Project, included in this news release, have been prepared and reviewed by MM. Gaétan Lavallière, P. Geo., Ph. D., Vice President and Ronan Déroff, P. Geo, M. Sc., Senior Geologist, Project Manager and Geomatician, Qualified Persons as defined by NI 43-101.  Mr. Lavallière approved the information contained in the press release.

Quality Assurance / Quality Control
The analytical results, derived from Cartier’s drilling, were obtained from samples measured along the drill core.  NQ core samples are crushed up to 80% passing an 8 mesh and then pulverized up to 90% passing a mesh of 200 mesh.  Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of blank samples to ensure quality control.  The samples are analyzed at the Techni-Lab laboratory (Actlabs), located in Ste-Germaine-Boulé, Quebec.  The 50 g pulps are analyzed by fire assay and read by atomic absorption, followed by gravimetry for results above 5.0 g/t Au. For samples containing visible gold, 500 g of rock are analyzed by the ” Metallic Sieve ” method.

For more information, please contact:
Philippe Cloutier, P. Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3aaaf27a-f93f-4e35-a320-fcd270346e1d

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Renforth Resources: Deposits in the Right Place

I just bought 100,000 shares in Renforth Resources (C.RFR). Full disclosure and all.

Let me tell you why.

Nicole Brewster is the most “matter of fact” junior resource CEO I have had the pleasure of encountering. In a business where over promotion is the norm, Brewster is a welcome change of pace.

Speaking on the phone after Renforth Resources reported back to back resource estimates on two of its properties – Brewster was phlegmatic. Over 500,000 ounces? Well yes. Shallow? Yup. Close to mills. Well there is that.

Seriously, Renforth Resources has not one, but two 43-101 compliant resources which would be easy to mine and which are in the same neighbourhood as many mines which are running out of reserves. Nicole, you can be excited. Really. It’s ok.

The press releases covered the deposit at New Alger (62,000 ounces indicated, 188,000 inferred) and the deposit at Parbec (104,000 ounces indicated, 177,000 inferred).

“We really have not done any marketing,” said Brewster in our conversation. Marketing is alien to Brewster. She knows her share price is hurt by her lack of marketing but that is not what she does.

As her Renforth bio states she worked in “the investment/capital markets world, including certifications in securities, options and derivatives and financial planning, functioning in the capital markets and high net worth investors area, was entered, but eventually left in order to raise a family.”

She knows what promotion is, she has been pitched by the best. But that is not her style. “Just the facts.”

OK, the facts are these. Renforth has announced 43-101 Resource Estimates on two properties in Quebec. In total over 500,000 ounces of gold in the indicated and inferred categories. Not very big. But very strategic.

Real world, these deposits are, literally, “just down the road” from mines which are running out of economic reserves. Mines which have mills which need gold bearing rock to keep running. Mines which are running out of reserves just as the price of gold is rising fast.

What is gold in the ground worth? Well, if it is 1000 meters down, not all that much, say $25 to $50 an ounce. But pitable, at surface? $100 an ounce starting. Which suggests, at the low end, that Nicole Brewster has resources worth $50,000,000. Fully diluted, Renforth has a market cap of $8,230,000. It’s a $0.04 share. It won’t be for long.

The $100 per ounce benchmark makes a lot of assumptions about the mineability of the rock. What it does not account for is the accessibility of infrastructure – roads, power, people – and the ability to permit an operation. Get those ducks lined up and a more reasonable valuation is $150 an ounce in the ground at a gold price of $1725.

For Renforth, all the ducks are directly lined up. This is one of the great gold mining districts in Canada and in the mining “very friendly” jurisdiction of Quebec. One deposit is, literally, under a highway. Power is not a problem and finding the people to run the bulldozers and haul trucks is dead easy.

Renforth is moving towards bulk sampling at New Alger. Which is grand and will give prospective buyers even more reason to take out the deposit. But, realistically, as the price of gold rises the other mining companies surrounding Renforth have to make what Brewster calls “the risk of asset versus the risk of time” call. (Not an investment banker for nothing.)

The Renforth deposits are not large, yet. But they are minable pretty much right now. For a major or, more likely, a middle level, company, adding near surface gold to reserves becomes very attractive as the gold price moves. Renforth is obviously open for offers on one or both of the assets it has proven up. Being able to acquire 250 or 500K ounces of gold with the deposit open is becoming more and more attractive. The question is, who will pounce?

“We have one serious miner looking at us,” said Brewster. The fact is that a less “matter of fact” CEO would have said “several” and not have been technically wrong.

Brewster told me that Renforth was setting up to take the bulk sample this summer and run the tonnage through a toll mill to understand the rock and make some money. She is well aware of the danger of dilution and the fact that a bulk sampling program could produce enough gold so that a private placement would not be needed to finance the advancement of the program.

I didn’t invest based on the bulk samples or the metallurgical program. I invested because Renforth has two assets which are saleable for, collectively, between 50 and 75 million dollars and a market cap just over 8 million.

Despite Nicole Brewster’s “Aw shucks,” presentation, Renforth is an easy five bagger and likely closer to ten. There is no reason at all that Renforth can’t hit $0.50 in the next six months even if gold sticks at $1725….which it won’t.

I rather doubt Nicole Brewster will become a marketing maven in the next few months. She doesn’t have to. Her results speak for themselves.

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White Gold Corp. Announces Webinar to Provide Further Details on its Upcoming Fully Funded 2020 Exploration Program and Corporate Update

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to announce an online Webinar hosted by management on Thursday, May 28th, 2020. David D’Onofrio – CEO, Shawn Ryan – Chief Technical Advisor and Terry Brace – VP of Exploration, will present additional details on the Company’s fully funded 2020 exploration program on its extensive 422,000+ hectare land package, representing over 40% of the prolific White Gold District in Yukon, Canada. The 2020 exploration program, budgeted at approximately $4.0 Million, has been designed to further test high priority targets and recent high-grade discoveries on the Company’s White Gold, Hen and JP Ross properties, as well as to identify and advance other targets throughout its regional land package. Backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC), the 2020 exploration program is scheduled to commence in the coming weeks.

The White Gold Corp webinar will take place on Thursday, May 28th, 2020, at 1 p.m. ET (10 a.m. PT). The Management Team will be available to answer questions following the presentation.

Live webinar registration: https://webinars.6ix.com/6ix/White-Gold-Exploration-2020

Dial-in Number: 1 (312) 248-9348
Dial-in ID Number: 536652#
Dial-in Passcode Number: 8741#

Highlights Include:

  • Recently announced fully subscribed $6 million private placement at $0.90 per flow-through common share with Agnico Eagle & Kinross each maintaining their 17.1% interest in the Company and Eric Sprott to participate.
  • Ryan’s Surprise target (along strike with the Golden Saddle Deposit): 1,500 m diamond drill program to test for strike and down-dip extensions of high-grade mineralization encountered in 2019.
  • Titan target: 1,500 m diamond drill program to test the extents of high-grade mineralization encountered in 2019 rotary air blast (RAB) drilling which included 72.81 g/t Au over 6.09 m from 10.67 m depth, within a 32m zone of mineralization.
  • Approximately 25 RAB holes will be drilled to test high-priority targets on the White Gold, Hen and JP Ross properties.
  • Mechanical trenching will be carried out on multiple newly identified targets on the JP Ross property to collect key structural data to aid in ongoing interpretations and future drill planning.
  • Extensive regional exploration work on other properties will include geologic mapping and prospecting, soil sampling, GT probe sampling, ultra high-resolution drone imagery, and ground magnetics and VLF surveying on the Betty, Nolan, Bonanza and Tea properties.
  • A district scale map outlining the Company’s planned 2020 exploration work areas and other images on key targets can be found at http://whitegoldcorp.ca/investors/exploration-highlights

2020 Exploration Program Summary:

Details on White Gold Corp’s 2020 exploration program can be found in the Company’s press release at https://whitegoldcorp.ca/news/releases/index.php?content_id=205. A brief summary is included below:

White Gold Property Program: The White Gold property hosts the Company’s flagship Golden Saddle & Arc deposits which have a current mineral resource of 1,039,600 gold ounces indicated at 2.26 g/t Au and 508,700 gold ounces inferred at 1.48 g/t Au. Planned 2020 exploration work on the White Gold property includes 1,500 m of diamond drilling at the Ryan’s Surprise target to test for strike and down-dip extensions of mineralization encountered in 2019, as well as RAB drilling on high priority targets elsewhere on the property.

Hen Property Program: The Hen property is located approximately 25 km northeast of the Golden Saddle and Arc deposits and is situated within a prolific placer mining camp where abundant coarse placer gold has been recovered from creek gravels on North Henderson Creek immediately east of the Titan target. The Hen Property program will focus on the Titan target and has been designed to follow up on first ever drill results on the Titan target in 2019, which intercepted 72.81 g/t Au over 6.09m from 10.67m depth, including 136.36 g/t Au over 3.05m at 12.19m depth within a 32m zone of mineralization, one of the strongest drill holes ever in the White Gold District. The program will include 1,500m of diamond drilling primarily along the NNW-striking gold-in-soil anomaly and RAB drill holes to test magnetic high features within a magnetic low, as well as the separate northeast-striking gold-in-soil anomaly along the southern margin of the magnetic low feature.

JP Ross Property Program: The JP Ross Property hosts multiple gold trends covering an area measuring approximately 15 km x 15 km, including the Vertigo target. The program will focus on collecting key structural data to aid in detailed interpretations and planning of future drilling. Components of program include mechanical trenching on a number of existing targets highlighted by 2019 results such as Sabotage, Stagefright, North Frenzy and Vertigo. RAB drilling will also be performed to test existing targets on the property with final hole locations based on trenching and other exploration results.

The Regional Program: The regional program will focus on earlier stage high priority targets identified in prior seasons and will include soil sampling, GT Probe Sampling, ground magnetic and VLF surveys, geological mapping and prospecting and ultra-high-resolution drone imagery. The regional program will be conducted across multiple properties, including the Betty Property, Nolan Property, Bonanza Property and Tea Property.

About White Gold Corp.
The Company owns a portfolio of 21,159 quartz claims across 33 properties covering over 423,000 hectares representing over 40% of the Yukon’s prolific White Gold District. The Company’s flagship White Gold property hosts the Company’s Golden Saddle and Arc deposits which have a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t gold and 508,700 ounces Inferred at 1.48 g/t gold. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company’s recently acquired VG Deposit also hosts a historic Inferred gold resource of 230,000 ounces at 1.65 g/t Au(1). Regional exploration work has also produced several other new discoveries and prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Measured and Indicated Resources of 2.17 Moz at 1.46 g/t Au, and Inferred Resources of 0.50 Moz at 1.32 g/t Au(2), and Western Copper and Gold Corporation’s Casino project which has Proven and Probable reserves of 8.9 Moz Au and 4.5 Blb Cu(2). For more information visit www.whitegoldcorp.ca.

  1. See Comstock Metals Ltd. Technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, available on SEDAR.
  2. 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
Terry Brace, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure of Mineral Projects and has reviewed and approved the content of this news release.

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

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

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: risks related to the novel coronavirus disease on the Company; 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.

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Cartier Cuts 20.8 g/t Au over 4.0 m at Chimo Mine 500 m below the New Zones 5B4-5M4-5NE

Highlights:

  • Mineralised intersection of 20.8 g/t Au over 4.0 m included within 9.4 g/t Au over 11.0 m, also included within 6.7 g/t Au over 16.0 m, located 500 m below the new Zones 5B4-5M4-5NE in the East Sector of the Chimo Mine Property;
  • The results of this press release, factored with those of the April 7th 2020 and February 18th 2020 press releases, increase the potential for expansion of the resource estimate to date for the new Zones 5B4-5M4-5NE (FIGURE)
  • May 21st, 2020: Cartier Resources Press Release Figure_DDH Results Longitudinal
    200521_5B4-5M4-5NE_FIGURE
    May 21st, 2020: Cartier Resources Press Release Figure_DDH Results Longitudinal
  • The Chimo Mine Property hosts three gold-bearing corridors (North, Central and South) that to date host the following mineral resources:
    • 4,017,600 tonnes at an average grade of 4.53 g/t Au for a total of 585,190 ounces gold in the Indicated category;
    • 4,877,900 tonnes at an average grade of 3.82 g/t Au for a total of 597,800 ounces gold in the Inferred category.

VAL-D’OR, Quebec, May 21, 2020 (GLOBE NEWSWIRE) — Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) announces values of 20.8 g/t Au over 4.0 m included within 9.4 g/t Au over 11.0 m, also included within 6.7 g/t Au over 16.0 m, intersected at a distance of 500 m below the new Zones 5B4-5M4-5NE of the Chimo Mine Property, located 45 km east of Val-d’Or.

″ These new results indicate that the gold mineralisation is open in all directions below Zones 5B4-5M4-5NE which have been drilled to date from surface to a depth of 1,3 00 m  ″ commented Philippe Cloutier, President and CEO, adding ″ growing the dimensions of the cluster of Zones 5B4-5M4-5NE is an important addition to the development potential of the project ″.

12.8 m interval grading 1.1 g/t Au was also intersected 250 m below the new Zones 5B4-5M4-5NE.  At 30 m south of Zones 5B4-5M4-5NE, the new Zone 5CE returned a 19.5 m interval grading 1.3 g/t Au indicating the presence of a gold-bearing shoot hosting higher grade gold sections.

The details of the new results are as follows:

Drill HoleDrill Hole Collar Coordinate (m)
UTM (E/N/Elev.)
Azimut (°) / Dip (°)From
(m)
To
(m)
Length
(m)
Au
(g/t)
Gold ZoneGold Structure
CH19-55B332529/5320363/-518200 / -661,371.01,375.04.020.85B45B
Included in1,364.01,375.011.09.4
Included in1,361.01,377.016.06.7
CH19-54BW332577/5320163/-459199 / -491,120.01,132.812.81.1
CH19-54B332623/5320281/-268200 / -711,161.51,181.019.51.35CE5C

The lengths of the mineralized intersections are expressed in lengths measured along the drill core.  The estimated true thickness of the mineralized intersections represents approximately 85 to 90% of the measured length.

Recall that, on May 5th 2020, using a price of gold of 1,300 $ US / oz and a cut-off grade of 2.5 g/t Au, the Chimo Mine property now hosts mineral resources of (FIGURE):

Gold Corridors
Cut-off Grade
2.5 g/t Au
Indicated ResourcesInferred Resources
Metric Tonnes (t)Grade
(g/t Au)
Troy Ounce  (oz)Metric Tonnes (t)Grade
(g/t Au)
Troy Ounces  (oz)
Central (1)3,263,3004.40461,2803,681,6003.53417,250
North (2)505,3005.3586,860715,7004.59105,710
South (2)249,0004.6337,060480,6004.8474,840
Total4,017,6004.53585,1904,877,9003.82597,800

Note 1 :   Cartier Files NI 43-101 Technical Report on SEDAR for First Mineral Resource Estimate of the Central Gold Corridor on the Chimo Mine Property, GéoPointCom Inc. (2019)
Note 2 :   Cartier Increases Gold Resources of the Chimo Mine Property, InnovExplo Inc., May 5 2020

Zones 5B4-5M4-5NE and 5CE, situated 450 m east of the underground infrastructures are being drilled in order to increase the resource over a distance of 550 m below known zones.  The length of this cluster of gold-bearing zones is known over 1,300 m.

As well, internal engineering studies and tests of industrial sorting of the mineralization are in progress in order to assess possibilities of cost reduction while increasing gold ounce recuperation, which in turn could contribute to increasing the mineral resource of the property.  The first internal engineering study was completed with positive conclusions.

About Chimo Mine Project

  • Cartier holds a 100% interest in the property for which 1% NSR (” Net Smelter Return ”) royalty has been granted to IamGold Corporation.  No rights of first refusal (” buy-back ”) have been granted.
  • The property, which is accessible year-round, is located near 6 mills in the Val-d’Or area.
  • Fourteen gold zones were exploited by 3 producers between 1964 and 1997 for a production of 379,012 ounces of gold (MERN DV 85-05 to DV-97-01).
  • The mining infrastructure consists of a network of drifts over 7 km, distributed over 19 levels and connected by a 5.5 m x 1.8 m with 3 compartment shaft for a depth of 920 m.  The headframe and the surface installations were dismantled in 2008 but the 25 kV power line and the sandpit are still in place.
  • The drilling, completed to date by Cartier on the Chimo Mine property, consists of 121 holes totaling 55,890 m and 20,792 gold samples collected.  This work demonstrated the continuity of the main 5B and 5M gold zones under the existing mining infrastructure, explored the extensions of 19 gold zones peripheral to the main zones and explored the extensions of the 7 gold zones that were prioritized; which allowed the discovery of the Zones 5B4-5M4-5NE and 5CE and to develop the potential of Zone 6N1.  These areas have excellent potential to deliver future discoveries.

About Cartier Resources Inc.

Cartier Resources Inc., founded in 2006, is based in Val-d’Or, Quebec.  The province has consistently ranked as one of the best mining jurisdictions in the world, primarily because of its favorable geology, attractive fiscal environment and pro-mining government.

  • The company has a strong cash position with more than $ 5.7 million, as well as a significant corporate and institutional endorsement including Agnico Eagle Mines and Quebec investment funds.
  • Cartier’s strategy is to focus on gold projects with features that offer the potential for rapid growth.
  • The Company holds a portfolio of exploration projects located in the Abitibi Greenstone Belt in Quebec; one of the most prolific mining regions in the world.
  • The company is focused on advancing its 4 key projects through drilling programs. All of these projects were acquired at reasonable costs in recent years.  All are drill-ready with targets along the geometric extension of known gold deposits.
  • Exploration work is currently focused on the Chimo Mine property to maximize value for investors.  The preparation of the next exploration work is underway to carry out drilling programs respectively on the Benoist, Fenton and Wilson properties.

Qualified Persons

The scientific and technical information of the Company and the Chimo Mine Project, included in this news release, have been prepared and reviewed by MM. Gaétan Lavallière, P. Geo., Ph. D., Vice President and Ronan Déroff, P. Geo, M. Sc., Senior Geologist, Project Manager and Geomatician, Qualified Persons as defined by NI 43-101.  Mr. Lavallière approved the information contained in the press release.

Quality Assurance / Quality Control

The analytical results, derived from Cartier’s drilling, were obtained from samples measured along the drill core.  NQ core samples are crushed up to 80% passing an 8 mesh and then pulverized up to 90% passing a mesh of 200 mesh.  Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of blank samples to ensure quality control.  The samples are analyzed at the Techni-Lab laboratory (Actlabs), located in Ste-Germaine-Boulé, Quebec.  The 50 g pulps are analyzed by fire assay and read by atomic absorption, followed by gravimetry for results above 5.0 g/t Au. For samples containing visible gold, 1000 g of rock are analyzed by the ” Metallic Sieve ” method.

For more information, please contact:
Philippe Cloutier, P. Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9375ba36-4479-48ca-8145-cb05e2344616

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Eloro Resources Completes Financing

Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“Eloro” or the “Corporation”) is pleased to announce it has completed a previously announced non-brokered private placement (the “Private Placement”) of 2,200,000 units of Eloro at a price of $0.25 per unit (“Units”) for gross proceeds of $550,000.

Each Unit consists of one Common Share and one half of one Common Share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder to purchase one Common Share at a price of $0.50 per share for a term of 18 months, expiring November 20, 2021.

In connection with the Private Placement, arm’s length finders received as compensation 7% cash commissions aggregating $5,687.50 and 22,750 finder’s warrants entitling the holders to purchase 22,750 Eloro common shares at a price of $0.50 per share for a term of 18 months.

The proceeds of the Private Placement will be used for working capital purposes and to fund exploration at its properties. Directors and officers of the Corporation subscribed for 245,000 units for proceeds of $61,250. The Private Placement is subject to final approval by the TSX Venture Exchange. All securities issued pursuant to the Private Placement are subject to the applicable statutory four month hold period.

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. Eloro has an option to acquire a 99% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department, in southern Bolivia. Eloro has completed a NI 43-101 Technical Report on Iska Iska, which is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine. La Victoria consists of eight mining concessions and eight mining claims encompassing approximately 89 square kilometres. La Victoria has good infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,150 m to 4,400 m above sea level.

For further information please contact either Thomas G. Larsen, President and CEO or Jorge Estepa, Vice-President at (416) 868-9168.

Information in this news release may contain forward-looking information. Statements containing forward looking information express, as at the date of this news release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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White Gold Corp. Announces Fully Funded 2020 Exploration Program on its White Gold District Projects, Yukon

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to announce its fully funded 2020 exploration program on its extensive 422,000+ hectare land package, representing over 40% of the emerging White Gold District in Yukon, Canada. The 2020 exploration program which is budgeted at approximately $4.0 Million has been designed to further test existing targets and recent high grade discoveries on the Company’s White Gold, Hen, and JP Ross properties, as well as to identify and advance other targets on its extensive regional land package. Backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC), the 2020 exploration program is scheduled to commence in the coming weeks.

A district scale map outlining the Company’s planned 2020 exploration work areas and other images accompanying this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

 “2020 is expected to be another exciting year for White Gold as we diamond drill test recent discoveries at the Ryan’s Surprise and Titan targets, as well as advance other high-priority targets across our expansive land package. Extensive review and analysis performed in the off-season has also provided new interpretations on several projects which we are excited to test. We will also continue to develop a better understanding of the geological and structural framework of our targets for follow up drill testing when ready,” stated Terry Brace, Vice President of Exploration.

Highlights Include:

  • Ryan’s Surprise target (along strike with the Golden Saddle Deposit): 1,500 m diamond drill program to test for strike and down-dip extensions of mineralization encountered with 2019 diamond drilling.
  • Titan target: 1,500 m diamond drill program to test the extents of high-grade mineralization encountered in 2019 rotary air blast (RAB) drilling which included 72.81 g/t Au over 6.09 m from 10.67 m depth, within a 32 m zone of mineralization.
  • Approximately 25 RAB holes will be drilled to test high-priority targets on the White Gold, Hen and JP Ross properties.
  • Mechanical trenching will be carried out on multiple targets on the JP Ross property to collect key structural data to aid in ongoing interpretations and future drill planning.
  • Extensive regional exploration work on other properties will include geologic mapping and prospecting, soil sampling, GT probe sampling, ultra high-resolution drone imagery, and ground magnetics and VLF surveying on the Betty, Nolan, Bonanza and Tea properties.
  • A webinar to provide additional information on the Company’s 2020 exploration plan will take place on Thursday, May 28th, 2020, at 1 p.m. ET (10 a.m. PT).  Details below.

White Gold Property Program

The White Gold property hosts the Company’s flagship Golden Saddle & Arc deposits which have a current mineral resource of 1,039,600 gold ounces indicated at 2.26 g/t Au and 508,700 gold ounces inferred at 1.48 g/t Au. Planned 2020 exploration work on the White Gold property includes 1,500 m of diamond drilling at the Ryan’s Surprise (“Ryan’s”) target to test for strike and down-dip extensions of mineralization encountered in 2019, as well as 8 RAB drill holes on high priority targets elsewhere on the property.

The Ryan’s target is located approximately 2 km west of the Golden Saddle deposit and is associated with a large (> 500 m long) gold-in-soil anomaly with values ranging from trace to 1,576 ppb Au. The area has been drill-tested by several companies including Underworld Resources Inc. (2008), Kinross Gold Corporation (2011) and the Company (2018-2019) for a combined total of 15 diamond drill holes (3,152m) and 4 RC holes (682m) and remains open in multiple directions.

Kinross’ diamond drill hole WGRS11D0003 located in the central part of Ryan’s returned 6.33 g/t Au over 6.56 m from 159.44 m downhole, and subsequent exploration drilling by the Company has focused on this general area with holes drilled primarily to the south. A revised geological interpretation in 2019 indicated that the mineralized zone may strike west-southwest and dip steeply to the south-southeast, and the two diamond drill holes drilled to the north to test this interpretation both intersected mineralization. Hole WHTRS19D012 intersected 2.85 g/t Au over 4.14 m from 142.22 m downhole and 2.07 g/t over 21.0 m from 154.00 m downhole, including 3.55 g/t Au over 8.42 m. This latter higher grade zone appears to correlate with a mineralized zone in hole WHTRYN18RC0002 which returned 5.02 g/t Au over 13.72 m from 121.92m downhole, indicating a steep (70°) southerly dip. Hole WHTRS19D0012 also intersected a second mineralized zone higher up the hole in the hanging wall which returned 2.66 g/t Au over 11.00 m from 93.0 m downhole. This hanging wall mineralization may represent a subparallel zone which to date has only been tested by this single hole. The close proximity of Ryan’s to existing mineral resources at Golden Saddle and Arc makes it a strategic target for potential future advancement of these projects.

Hen Property Program

The Titan target is located on the Hen property approximately 25 km northeast of the Golden Saddle and Arc deposits. The Hen property is situated within a prolific placer mining camp where abundant coarse placer gold has been recovered from creek gravels on North Henderson Creek immediately east of the Titan.

The Titan target shows two distinct gold-in-soil anomaly trends along the western (NNW trend) and southern (NE trend) margins of a circular magnetic low with a diameter of approximately 600 m. Six discrete magnetic high features measuring from 100 m to 325 m long lie within the magnetic low. In 2019 soil sampling in the southwestern part of the target area returned a high of 113 g/t Au, which is the highest value ever recorded in the Company’s 400,000+ soil sample database. Rock grab samples from shallow pits in the same area contained fine-grained visible gold and returned assays of 113 g/t Au, 497 g/t Au, and 605 g/t Au. Ground geophysical surveys show that the mineralization is associated with a resistivity low, chargeability high, and magnetic high. In late 2019, the Company drilled 3 RAB holes totalling 221 m to test this surface mineralization. Hole HENTTN19RAB-002 intersected a high-grade mineralized zone which returned 72.81 g/t Au over 6.09 m from 10.67 m downhole including 136.36 g/t Au over 3.05 m within a broader zone of mineralization grading 14.80 g/t Au over 32.00 m. The high-grade interval occurs at the top of the broader zone and currently it is unclear if mineralization noted below the high-grade interval is in-situ or potentially cross-contaminated. However, the anomalous gold assays do correspond with a resistivity low and high magnetic susceptibility measurements to approximately 40 m depth, indicating that the mineralization may be in place.

Based on available data, gold mineralization at Titan is currently interpreted to occur along a discrete high-grade, shallowly north-plunging zone along a northwest-striking and northeast-dipping sheared contact between an upper mafic to ultramafic unit and lower metasedimentary units. Gold mineralization correlates with elevated Bi-Cu-Fe-P+/-U and is associated with strong shearing, semi-massive to massive magnetite, calc-silicate alteration, and fine-grained visible gold within the mafic to ultramafic units.

The planned 2020 drill program consists of 1,500m of diamond drilling focused primarily along the NNW-striking gold-in-soil anomaly which extends from the high-grade intercept in hole HENTTN19RAB-002. Additionally, 7 RAB holes will be drilled to test similar north-trending magnetic high features within the magnetic low, as well as the separate northeast-striking gold-in-soil anomaly along the southern margin of the magnetic low feature.

JP Ross Property Program

The road accessible JP Ross property located approximately 35 km north east of the Golden Saddle & Arc deposits and contiguous to the Hen property where the Titan discovery is located, and hosts multiple gold trends covering an area measuring approximately 15 km x 15 km. A significant component of the 2020 exploration work on the JP Ross property consists of mechanical trenching on a number of existing targets highlighted by 2019 results from soil geochemistry, GT probe samples, VLF surveys, RAB drilling, and geological and structural interpretations. Specific trenching targets include Sabotage, Stagefright, North Frenzy and Vertigo. The primary goal of this work is to collect key structural data on mineralized veins, shear zones, faults, etc. which will aid in ongoing detailed interpretations and planning of future drilling. A total of 8 RAB holes are also planned to test existing targets on the property with final hole locations based on trenching results in conjunction with other exploration results. Additional information on the specific targets and exploration work will be released in due course.

The Regional Program

The 2020 regional exploration program will focus on high priority targets that have been identified in 2019 and prior seasons, and will include soil sampling, GT Probe sampling and ground magnetic and VLF surveys. Additional exploration activities will include geological mapping and prospecting, ultra high-resolution drone imagery in select key areas and a thorough digital compilation of all existing exploration data. The regional exploration program will be conducted across multiple properties and is anticipated to include exploration work on the following properties:

Betty Property

The Betty property is located 65 km southeast of the Golden Saddle and Arc deposits and covers the eastern extension of the Coffee Creek Fault which hosts the Coffee gold deposit owned by Newmont Corporation. Early exploration on the property from 2010-2013 was carried out by Ethos Gold Corp. and included 61 shallow RC holes totalling 7,132 m that mainly tested intrusion-hosted gold ± silver and base metal mineralization in the southeastern part of the property. More recent drilling conducted by Centerra Gold Inc. in 2014 (16 RAB holes totalling 374.9 m) and the Company in 2017–2018 (28 RAB holes totalling 1,827 m) has focused on geochemical targets further north on the property. This area is underlain by metamorphic rocks that are structurally cross-cut by splays of the Coffee Creek Fault. Encouraging results from the Company’s previous campaigns include 1.08 g/t Au over 50.29 m from 4.57 m in hole BETFRDRAB18-002 on the Berry Ford target, with the zone remaining open in all directions.

Planned exploration on the Betty property in 2020 includes a detailed structural and magnetic lineament interpretation utilizing magnetic and Lidar data which is expected to guide ongoing future exploration. Infill soil sampling and magnetic and VLF surveys will also be carried out in high priority areas of the property, with a goal of identifying and refining drill targets for the 2021 exploration season.

Nolan Property

The Nolan property is located 50 km west of Dawson City and covers multiple placer gold-bearing creeks. Numerous gold-in-soil anomalies occur in the northern (Cali, Nine, Nine SW and Sixty South), central (Boucher) and southern (Mount Hart) parts of the property.

The Cali target forms a 4 km long northeast trending gold-in-soil anomaly with values ranging from trace up to 516 ppb Au which is associated with anomalous Sb-As±Ag-Pb. The anomaly occurs along an interpreted northeast striking splay of the Sixty Mile-Pika Fault which separates mafic gneisses in the southeast from quartzites to the northwest. In 2017 the Company drilled 22 short RAB holes totaling 1,386.82 m which tested the target only to a maximum depth of 50 m.

In the Mount Hart area several significant gold-in-soil anomalies have been identified, including Hart South which forms a 2,000 m by 400 m trend with soil values ranging up to 539 ppb Au, and Hart  East which measures 2,500 m by 900 m with soil values ranging up to 399 ppb Au. A series of hornblende diorite plugs intrude locally strongly potasically-altered gneiss in the target area and the geochemical signature points to a porphyry copper target.

Planned work in 2020 includes infill 25 m-spaced soil sampling and ground magnetics and VLF surveying over the Mount Hart target, as well as ground magnetics and VLF over the Cali, Nine, Nine SW and Sixty South targets in the northern part of the property.

Bonanza Property

The Bonanza property is located 10 km south of Dawson City immediately east of Bonanza Creek, one of the richest placer gold creeks in the world. The claims adjoin Klondike Gold Corp.’s Eldorado property to the east and south. Exploration work carried out on the Bonanza property to date includes geological mapping, 50 m-spaced soil sampling (3,765 samples), GT probe sampling (300 samples), 250 line km of airborne DIGHEM geophysical surveying, and 5 RAB holes totaling 444.99m drilled by the Company in 2018. A favourable geological contact between the Klondike Schist to the north and the Snowcap Assemblage to the south extends through the southern portion of the property, and the geophysical surveys have outlined a pronounced north-trending magnetic low lineament and corresponding DIGHEM resistivity low which extends through the property and may represent a fault structure. Several gold-in-soil anomalies have also been identified in the southern and northwestern portions of the property.

Planned exploration work in 2020 includes infill soil sampling at 25 m spacings on several of the existing gold-in-soil anomalies, as well as ground magnetic and VLF surveys. This work will provide greater resolution for ongoing structural interpretations and target definition.

Tea Property

The Tea property is located 50 km south of the Golden Saddle and Arc deposits and is strategically located 10 km south of Newmont Corporation’s Coffee project and 10 km west of Western Copper & Gold Corporation’s Casino project. The Tea property covers 17 km of favourable geology underlain by prospective rocks of the Klondike Schist and Snowcap Assemblage, with potential for hosting orogenic gold mineralization. The Tea property has seen very limited previous exploration, and planned work for 2020 includes first-pass ridge and spur soil sampling designed to identify favourable areas for future follow-up exploration.

   (1)  All drill hole intercepts reported herein are core widths. Currently there is insufficient data to estimate true widths.

Corporate Update Webinar

White Gold Corp is inviting interested parties to join David D’Onofrio – CEO, Shawn Ryan – Chief Technical Advisor and Terry Brace – VP of Exploration, for a webinar to provide further detail on its fully funded 2020 exploration program on its White Gold District Projects, Yukon.

The White Gold Corp webinar will take place on Thursday, May 28th, 2020, at 1 p.m. ET (10 a.m. PT). The Management Team will be available to answer questions following the presentation.

Live webinar registration : https://webinars.6ix.com/6ix/White-Gold-Exploration-2020

Dial-in Number
1 (312) 248-9348
Dial-in ID Number
536652#
Dial-in Passcode
8741#

About White Gold Corp.
The Company owns a portfolio of 21,159 quartz claims across 33 properties covering over 423,000 hectares representing over 40% of the Yukon’s prolific White Gold District. The Company’s flagship White Gold property hosts the Company’s Golden Saddle and Arc deposits which have a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t gold and 508,700 ounces Inferred at 1.48 g/t gold. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company’s recently acquired VG Deposit also hosts a historic Inferred gold resource of 230,000 ounces at 1.65 g/t Au(2). Regional exploration work has also produced several other new discoveries and prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Measured and Indicated Resources of 2.17 Moz at 1.46 g/t Au, and Inferred Resources of 0.50 Moz at 1.32 g/t Au(3), and Western Copper and Gold Corporation’s Casino project which has Proven and Probable reserves of 8.9 Moz Au and 4.5 Blb Cu(3). For more information visit www.whitegoldcorp.ca.

   (2) See Comstock Metals Ltd. Technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, available on SEDAR.
   (3)  Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

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

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

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

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: risks related to the novel coronavirus disease on the Company; 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.

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White Gold Corp. Announces Fully Subscribed C$6 Million Private Placement of Flow-Through Common Shares; Agnico Eagle and Kinross to Maintain Interest; Eric Sprott to Participate

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to announce a non-brokered private placement of 6,666,667 common shares (the “Shares”) of the Company to be issued on a flow-through basis at a price of C$0.90 per Share for gross proceeds to the Company of C$6,000,000 (the “Offering”). Participants in the Offering include Eric Sprott, certain funds managed by Sprott Asset Management LP, Pat DiCapo and David D’Onofrio.

Pursuant to the Investor Rights Agreement between the Company and Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) (“Agnico”) dated December 13, 2016, Agnico has indicated that it intends to maintain its 17.1% interest in the Company. Additionally, pursuant to the Investor Rights Agreement between the Company and Kinross Gold Corporation (TSX: K, NYSE: KGC) (“Kinross”) dated June 14, 2017, Kinross has indicated that it intends to maintain its 17.1% interest in the Company.

“We are very grateful for the continued support of our major shareholders and excited to welcome Eric Sprott as a new shareholder. We look forward to commencing our 2020 field season where we will follow up on some exciting new discoveries and look to continue to increase our existing mineral resources. We are finalizing the details of our 2020 work campaign which is expected to be announced in the coming weeks,” stated David D’Onofrio, Chief Executive Officer.

The gross proceeds received from the sale of the Shares will be used to incur “Canadian exploration expenses” as defined in subsection 66.1(6) of the Income Tax Act (Canada) (the “Tax Act”) on the Company’s properties in the White Gold District of the Yukon Territory, and renounced to subscribers in the Offering effective December 31, 2020. Such Canadian exploration expenses will also qualify as “flow-through mining expenditures” as defined in subsection 127(9) of the Tax Act.

Participation by Agnico and Kinross, Messrs. DiCapo and D’Onofrio, and any other insiders of the Company (collectively, the “Insiders”), in the Offering will be considered a “related party transaction” pursuant to Multilateral Instrument 61- 101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company will be exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Insiders’ participation in the Offering in reliance of sections 5.5(a) and 5.7(1)(a) of MI 61-101. A material change report will be filed in connection with the participation of Insiders in the Offering less than 21 days in advance of the closing of the Offering, which the Company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the Offering in an expeditious manner.

Closing of the Offering is expected to occur on or about the week of June 1, 2020, and is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals including the approval of the TSX Venture Exchange (the “TSXV”).

About White Gold Corp.

The Company owns a portfolio of 21,159 quartz claims across 33 properties covering over 423,000 hectares representing over 40% of the Yukon’s prolific White Gold District. The Company’s flagship White Gold property hosts the Company’s Golden Saddle and Arc deposits which have a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t gold and 508,700 ounces Inferred at 1.48 g/t gold. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company’s recently acquired VG Deposit also hosts a historic Inferred gold resource of 230,000 oz at 1.65 g/t Au(2). Regional exploration work has also produced several other new discoveries and prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont 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(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.
(2)  See Comstock Metals Ltd. Technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, available on SEDAR.

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

Cautionary Note Regarding Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, 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: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; the receipt of all applicable regulatory approvals for the Offering; the completion of the Offering on the terms described herein, or at all; 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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

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