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White Gold Corp
Symbol WGO
Shares Issued 115,360,351
Close 2019-08-22 C$ 1.06
Market Cap C$ 122,281,972
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White Gold samples up to 2,963.6 ppb Au at JP Ross

2019-08-22 09:43 ET - News Release

Also News Release (C-AEM) Agnico Eagle Mines Ltd
Also News Release (C-K) Kinross Gold Corp (2)

Mr. David D'Onofrio of White Gold reports

WHITE GOLD CORP. IDENTIFIES MULTIPLE NEW HIGH-PRIORITY GOLD TARGETS ON THE JP ROSS & WHITE GOLD PROPERTIES THROUGH DETAILED SOIL EXPLORATION PROGRAM

White Gold Corp. has released results from its 2019 soil sampling program on its White Gold and JP Ross properties which identified multiple new high-priority gold targets. The goal of the program was to complete detailed soil sampling on areas where preliminary soil sampling had returned promising results in order to identify drill targets by better defining the geometry of mineralized structures. Results on the JP Ross property targets include up to 2,964 parts per billion gold on Frenzy, 2,905 ppb Au on Sabotage, 2,279 ppb Au on Rebecca, with White Gold property targets including samples up to 1,590 ppb Au on Minneapolis, 1,585 ppb Au on Ulli's and 1,162 ppb Au on McKinnon, among multiple others. These soil samples are interpreted as being in place and representative of the bedrock below due to the unglaciated nature of the area, indicating high-priority targets for upcoming follow-up activity including probe, trenching and rotary air blast/reverse circulation drilling. These soil samples are part of the company's fully financed $13-million exploration program, backed by partners Agnico Eagle Mines Ltd. and Kinross Gold Corp. which includes diamond drilling on the Vertigo target (JP Ross property), Golden Saddle and Arc deposits (White Gold property) as well as soil sampling, prospecting, GT probe sampling, trenching, and RAB/RC drilling on multiple properties across the company's expansive land package located in the prolific White Gold district in Yukon, Canada.

Highlights include:

  • Completed 17,100 soil samples adding to a very significant historical database now totalling over 400,000 soil samples in the White Gold district. The grade, continuity, size and similarities with previous discoveries of these results further highlight the potential for additional discoveries on the White Gold and JP Ross properties. Follow-up work on these new targets is in progress and includes prospecting, GT probe sampling and RAB drilling.
  • JP Ross property:
    • 12,540 soil samples completed across 10 targets;
    • Seven samples greater than 1,000 ppb Au, 31 samples greater than 500 ppb Au, 299 samples greater than 100 ppb Au;
    • Results include up to 2,964 ppb Au on Frenzy target, 2,905 ppb Au on Sabotage target and 2,279 ppb Au on Rebecca target;
    • Extended trends on Vertigo including over 1,500 m along strike west-northwest and over 850 m north-south with multiple trends greater than 50 ppb Au; and on Frenzy north-south zone of greater than 100 ppb Au traceable for 950 m;
    • JP Ross property now has at least four recognized gold trends over a 15-kilometre by 15 km area including the Vertigo, Stage Fright, Sabotage and Frenzy trends, as well as additional emerging targets on underexplored portions of the property.
  • White Gold property:
    • 4,560 soil samples completed across seven targets;
    • Six samples greater than 1,000 ppb Au, 14 samples greater than 500 ppb Au, 201 samples greater than 100 ppb Au;
    • Results include up to 1,590 ppb Au on Minneapolis target, 1,585 ppb Au on Ulli's target, 1,162 ppb Au on McKinnon target;
    • Extended trends on McKinnon including over 1,000 m west-northwest zone of greater than 100 ppb Au and 600 m north-south of greater than 50 ppb Au; and on Ulli's a series of east-west zones up to 500 m long of greater than 100 ppb Au;
    • White Gold property trend now identified to be 12 kilometres by up to 4.5 km northwest trend of anomalous gold in soils with at least 11 distinct target areas; including the Golden Saddle and Arc deposits.
  • Additional exploration activity continues across the White Gold, JP Ross and multiple other regional properties, with related soil sampling, prospecting, GT probe sampling, trenching, RAB/RC and diamond drilling results to be released in due course.

"Soil sampling has been the most effective tool in gold exploration in the White Gold district. This year's soil sampling program was designed to pin down anomalous structures on both the JP Ross and the White Gold properties. Sampling was done on five m to 10 m station spacing and 50 m line spacing on the JP Ross, and 25 m station spacing on 50 m line spacing on the White. The results were even better than expected with some beautiful linear soil anomalies 20 to 30 m wide, some running up to 750 m long showing up, where previous 50 m space soil sampling barely gave us any indications. The JP Ross project had 54 mini-grids put in and the White property had 17 detail grids. The gold soil anomalies produced from these detail and mini-grids will be followed up by GT probe lines and trenching, with the intent to RAB drill up to 35 holes on the JP Ross and up to 25 holes on the White. I look forward to next round of drilling as we will be targeting the highest-probability areas of our newly defined gold anomalies."

Summary

A total of 17,100 soil samples have been collected across the JP Ross and White Gold properties in the 2019 exploration program, with most sampling conducted as infill grids on existing, coarsely defined anomalies with the goal of better defining targets and geometry of potentially mineralized structures. Multiple new trends and targets were defined from this soil sampling on both the JPR and White Gold properties with follow-up work continuing, including GT probe sampling, geophysical surveys, trenching, geologic mapping and prospecting, with a focus on defining new RAB drill targets to be tested in 2019. Extensive soil sampling has also been conducted this season on several of the company's other regional properties with results to be released in due course.

JP Ross property

A total of 12,540 soils have been collected across multiple grids covering 11 different target areas in the 2019 exploration program on the road-accessible JP Ross property. The grids were planned to infill or expand areas of historic anomalous soils to better understand the geometry of potential mineralized structures. Line spacing on the grids ranged from 50 m to 100 m with samples spacing ranging from five m to 10 m on the lines depending on the target. Assay results for the sampling ranged from trace to 2,964 ppb Au. Statistics for the soil program, and a breakdown of grids and results per target area are presented in the included tables. Highlights from specific targets are discussed herein.

Target highlights

Vertigo: Four grids were placed around the Vertigo target and were designed to expand/infill the known soil anomalies on the Vertigo target, and returned values from trace to 484 ppb Au. The current interpretation is that these anomalies highlight extensions of known mineralized structures on the Vertigo. The Vertigo soil anomaly is now traceable for over 1,500 m along strike to the west-northwest and over 850 m to the north-south with the soils defining multiple trends of soils greater than 50 ppb Au associated with strongly anomalous Ag, Bi and Pb (plus/minus As) and known high-grade mineralized gold structures, as recently highlighted in the company's press release dated Aug. 8, 2019.

Topaz: Located immediately south of the Vertigo, the Topaz has multiple gold-in-soil anomalies over a 1,500 m by 900 m north-south-trending area. Sampling in 2019 focused on the northern end of the trend and returned a circular anomaly over a 200 m by 150 m area with values ranging from trace to 404.5 ppb Au, and is associated with strongly elevated Ag, Bi and Pb.

Sabotage/Saboteur: The Sabotage is located approximately 7.8 km northwest of the Vertigo and covers an area of multiple gold-in-soil anomalies over a 5,800 m by 3,600 m northeast-trending area. Individual anomalies over the area typically trend to the west-northwest and northeast with values ranging from trace to 2,905 ppb Au. Specific highlights include the Saboteur target which consists of an 835 m west-northwest-trending linear zone of greater than 50 ppb Au in soils (up to 664 ppb Au) and a 390 m northeast-trending linear anomaly at the northeast end of the area with values greater than 100 ppb Au (up to 1,179 ppb Au). The anomalies are typically gold only with no significant pathfinder association and occur along interpreted second and third order structures adjacent to a regional-scale east-west fault; similar to the companies Golden Saddle deposit 30 km to the south.

Stage Fright: The Stage Fright is located 9.2 km to the northwest of Vertigo and covers multiple gold-in-soil anomalies over a 2,700 m by 400 m, northeast trending. Soil sampling in 2019 focused on the northeast and southwest parts of the trend, and returned values from trace to 667 ppb Au. Soil sampling conducted on the central portion of the target in 2018 defined targets for previously announced GT probe and prospecting results that included multistation GT probe hits greater than one g/t Au and prospecting samples up to 94.2 g/t Au associated with east-west- and northeast-trending structures, as reported in White Gold's press release dated Aug. 8, 2019.

X-Man: The X-Man is located 12 km northeast of the Vertigo. It forms a circular gold in soil anomaly over a 610 m by 550 m area with values ranging from trace to 442 ppb Au, and is associated with anomalous Ag, Bi, Cu and Pb. Uniquely, the anomaly is hosted within volcanic rocks of the Carmacks assemblage, and geochemical patterns and alteration from the area indicate that potential for Cu-Au plus/minus Mo porphyry-style mineralization.

North Frenzy/South Frenzy: The North and South Frenzy areas are located 9.2 km and 7.6 km north of the Vertigo, respectively, and cover multiple soil anomalies over a 3,400 m by 2,700 m north-south area. Individual assays range from trace to 2,964 ppb Au. Anomalous zones at the north end of the area (North Frenzy) generally trend north-south, and have a strong association with anomalous As, Ag, Bi and Pb; similar to Vertigo. The best-defined anomaly consists of a north-south-trending zone of greater than 100 ppb Au, traceable for 950 m. Anomalous zones on the southern end of the area (South Frenzy) appear to be associated with northwest- and northeast-oriented structural corridors, and are typically gold-only anomalies.

Psycho: The Psycho is located 5.2 km northeast of the Vertigo and covers multiple gold-in-soil anomalies over a 3,500 by 950 m northeast-trending area with values ranging from trace to 1,711 ppb Au. The strongest anomaly occurs within the centre of the trend and consists of a 500 m by 180 m northwest-trending zone of anomalous gold in soils greater than 50 ppb Au (up to 1,711 ppb Au). The geology of the target is currently poorly understood, and follow-up mapping and prospecting on the anomalies are in progress.

Suspicion: The Suspicion covers two gold-in-soil anomalies within a 1,400 m by 500 m north-south area. The northern anomaly consists of trends west-northwest, and is traceable over 450 m and is open along trend. Soil sampling for 2019 on the trend returned values from trace to 1,159 ppb Au. Historic soils on the target are up to 4,263 ppb Au. The southern anomaly is northeast trending, traceable over 700 m and returned values from trace to 366 ppb Au. Both anomalies are associated with strongly anomalous Ag, Bi and Pb similar to the adjacent Vertigo target, four km to the northwest.

          JP ROSS 2019 SOIL STATS   

Total samples                             12,540 
Assays received to date                   11,573 
Range -- Au (ppb)                  Tr -- 2,963.6 
Samples greater than 1,000 ppb Au              7 
Samples greater than 500 ppb Au               31 
Samples greater than 100 ppb Au              299 
Samples greater than 50 ppb Au               679 

   JP ROSS 2019 SOIL TARGET SUMMARY 

Target        No. of Grids  Range -- Au (ppb)  

Vertigo                  3        Tr -- 483.5        
Topaz                    2        Tr -- 404.5        
Sabotage                12        Tr -- 2,905        
Stage Fright             2        Tr -- 667.2        
North Frenzy             9      Tr -- 2,963.6      
South Frenzy                              
X-Man                    1          Tr -- 442          
Psycho                   7      Tr -- 1,711.3      
Suspicion                4      Tr -- 1,158.8      
Lifeboat                 2        Tr -- 965.7        
Rebecca                  4      Tr -- 2,279.1      
Other                    4        Tr -- 565.4        

White Gold property

A total of 4,560 soils have been collected across multiple grids covering seven different target areas in the 2019 exploration program. The grids were planned to infill areas of historic anomalous soils to better understand the geometry of potential mineralized structures. Line spacing on the grids was 50 m with samples spaced 25 m on the lines. Assay results for the sampling ranged from trace to 1,590 ppb Au. Stats for the soil program, and a breakdown of grids and results per target area are presented in the included tables. Highlights from specific targets are discussed herein.

Target highlights

Teachers: The Teachers is located approximately 4.5 km northwest of the Golden Saddle and covers a 1,800 m by 1,000 m, north-south-trending area of anomalous gold in soils with individual assays ranging from trace to 824 ppb Au. This includes three distinct zones with cores of samples greater than 50 ppb Au that appear to be associated with zones of stockwork quartz veining, and brecciation along east-west- and northwest-oriented structures.

Minneapolis: The Minneapolis is located 3.3 km northwest of Golden Saddle and consists of a 900 m by 350 m, northwest-southeast-trending gold-in-soil anomaly, with individual assay ranges from trace to 1,590 ppb Au. It includes a 150 m by 300 m core of samples greater than 100 ppb Au and is interpreted to be associated with west-northwest-oriented and secondary north-northeast-oriented structures associated with stockwork quartz veining and brecciation.

Ulli's: The Ulli's is located 2.4 km west-southwest of Golden Saddle and covers a 1,500 m by 400 m, northwest-southeast-trending gold-in-soil anomaly, with individual assays ranging from trace to 1,585 ppb Au. Included within the anomaly are a series of east-west-trending zones, up to 500 m long, of gold in soils greater than 100 ppb Au. Limited historic work has been conducted on the target, and follow prospecting, GT probe sampling and geophysics is in progress.

Donahue: Donahue covers three west-northwest-trending zones over a 1,900 m by 700 m area with individual assays ranging from trace to 453 ppb Au. The northern trend includes a 200 m by 50 m core of samples greater than 100 ppb Au. The anomalies are gold only and appear to be associated with the intersection of west-northwest-trending structures with a northwest-trending sheared ultramafic unit; similar to the Golden Saddle 2.8 km to the north.

Wedge: The Wedge is located three km southeast of Golden Saddle and covers a broad, 850 m by 650 m zone of anomalous gold in soils within individual values ranging from trace to 197 ppb Au. This includes a 300 m east-west-trending core on the southern end of the target of gold in soils greater than 50 ppb Au. The anomalies are gold only, are associated with strong sericite altered felsic orthogneiss with northeast-trending zones of quartz veining and brecciation, similar to the Golden Saddle. Recent prospecting conducted in the area returned grab samples ranging from trace to 34.7 g/t Au.

South Donahue: South Donahue is located 4.2 km south of Golden Saddle and covers a 510 m by 150 m, north-south-trending gold-in-soil anomaly with individual assays ranging from trace to 366 ppb Au. This includes a 250 m core of samples greater than 50 ppb Au on the northern end of the target.

McKinnon: The McKinnon covers two target areas, McKinnon West and McKinnon East, located 5.1 km and 5.6 km south-southeast of Golden Saddle, respectively. The eastern side of the target consists of a 1,000 m west-northwest-trending zone of gold in soils with a linear 400 m zone of soils along the northern margin greater than 100 ppb Au, up to 1,162.4 ppb Au, associated with an interpreted west-northwest-trending structure. The western side of the target consists of a 600 m north-south-trending anomaly which includes a 400 m by 100 m core of samples greater than 50 ppb Au, up to 318.2 ppb Au.

         WHITE PROPERTY 2019 SOIL STATS 
 
Total samples                                  4,560 
Assays received to date                        4,560 
Range -- Au (ppb)                      Tr -- 1,590.3 
Samples greater than 1,000 ppb Au                  6 
Samples greater than 500 ppb Au                   14 
Samples greater than 100 ppb Au                  201 
Samples greater than 50 ppb Au                   517 

   WHITE PROPERTY 2019 SOIL TARGET SUMMARY 

Target           No. of grids  Range -- Au (ppb)   
 
Teachers                    2        Tr -- 824.4          
Minneapolis                 1      Tr -- 1,590.3        
Ulli's                      1      Tr -- 1,585.4        
Donahue                     2          Tr -- 453            
Wedge                       2        Tr -- 196.5          
South Donahue               3        Tr -- 365.7          
McKinnon                    3      Tr -- 1,162.4        
Other                       2        Tr -- 147.3          

Quality assurance/quality control

The analytical work for the 2019 program is being performed by ALS Canada Ltd. and Bureau Veritas Commodities Canada Ltd., both internationally recognized analytical service providers, at their respective Vancouver, B.C., laboratories. Sample preparation was carried out at their Whitehorse, Yukon, facilities. All rock, GT probe, RC chip and diamond core samples were submitted to ALS and were prepared using procedure PREP-31H (crush 90 per cent less than two millimetres, riffle split off 500 grams, pulverize split to better than 85 per cent passing 75 microns), and analyzed by method Au-AA23 (30-gram fire assay with atomic absorption spectroscopy finish) and ME-ICP41 (0.5 g, aqua regia digestion and inductively coupled plasma atomic emission spectroscopy analysis). Samples containing greater than 10 g/t Au are reanalyzed using method Au-GRAV21 (30 g fire assay with gravimetric finish). All soil samples were submitted to Bureau Veritas and were prepared using procedure SS80 (dry at 60 degrees and sieve 100 g at negative 80 mesh), and analyzed by method AQ201 (aqua regia digestion and inductively coupled plasma mass spectrometry analysis). The reported work will be completed using industry-standard procedures, including a quality assurance/quality control 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 22,040 quartz claims across 35 properties covering over 439,000 hectares representing over 40 per cent 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 508,700 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.

Qualified person

Jodie Gibson, PGeo, vice-president of exploration for the company, is a qualified person as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release.

We seek Safe Harbor.

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