09:45:37 EDT Fri 29 Mar 2024
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or Name
USA
CA



White Gold Corp
Symbol WGO
Shares Issued 138,496,170
Close 2022-12-08 C$ 0.36
Market Cap C$ 49,858,621
Recent Sedar Documents

White Gold drills 18.29 m of 8.94 g/t Au at Betty

2022-12-08 10:17 ET - News Release

Mr. David D'Onofrio reports

WHITE GOLD CORP. INTERSECTS ADDITIONAL NEAR SURFACE HIGH-GRADE GOLD MINERALIZATION OF 8.94 G/T GOLD OVER 18.29M INCLUDING 21.73 G/T GOLD OVER 6.10M EXTENDING MINERALIZATION ALONG STRIKE AT THE BETTY FORD TARGET, YUKON, CANADA

White Gold Corp. has released additional positive assay results from the 2022 drill program at the Betty Ford target on its Betty property from BETFD22RC004, which intersected 8.94 grams per tonne gold over 18.29 metres from 35.05-metre depth, including 21.73 grams per tonne gold over 6.10 metres from 45.75-metre depth. The Betty property is contiguous to and approximately 40 kilometres east of Newmont Corp.'s Coffee gold deposit (measured and indicated resources of 2.14 million ounces gold and inferred resources of 230,000 ounces gold) and 15 kilometres northeast of Western Copper and Gold's Casino porphyry deposit (measured and indicated resources of 14.8 million ounces gold and 7.6 billion pounds copper and inferred resources of 6.3 million ounces gold and 3.1 billion pounds copper). These assays represent positive results from the company's 2022 fully financed $6-million exploration program on its extensive and underexplored 350,000-hectare land package in the emerging White Gold district in Yukon, supported by strategic partners Agnico Eagle Mines Ltd. and Kinross Gold Corp.

"We are very excited to have encountered additional near-surface, very high-grade gold over significant widths at the Betty Ford target. This hole was located over 100 metres from the exciting high-grade hole last year (3.46 grams per tonne over 50 metres) with the zone remaining open along strike. These results represent the highest grades encountered on the Betty Ford target to date and have further extended the strike length. We look forward to continuing to explore this exciting target in such close proximity to other very significant deposits," stated David D'Onofrio, chief executive officer.

Maps accompanying this news release can be found on the company's website.

Highlights:

  • Hole BETFD22RC004 on the Betty Ford target intersected 8.94 grams per tonne gold over 18.29 metres from 35.05-metre depth, including 21.73 grams per tonne gold over 6.10 metres from 45.75-metre depth, which has extended gold mineralization along strike to the west for a total of 165 metres and remains open.
  • Drilling in 2022 at Betty Ford focused on testing the depth and strike extents of the gold-mineralized zone identified in last season's maiden diamond drilling program, which included 3.46 grams per tonne gold over 50.0 metres in hole BETFD21D003 and 1.17 grams per tonne gold over 48.0 metres in BETFD21D001.
  • Additional results from the 2022 exploration program will be announced in due course as results are received and interpreted. The 2022 program has been designed to advance prospective new targets on the Betty property and other properties and to increase the company's significant gold resources on the White gold property.

Betty Ford 2022 results

The 2022 Betty Ford drill program comprised five diamond drill holes totalling 933.0 metres and two RC (reverse circulation) holes totalling 201.16 metres. RC hole BETFD22RC004 was drilled from the same drill pad as hole BETFD21D001 (1.17 grams per tonne gold over 48.0 metres) at an azimuth of 230 degrees (southwest) and dip of minus-50 degrees. The hole intersected near-surface gold mineralization grading 8.94 grams per tonne gold over 18.29 metres from 35.05 metres downhole, which included a high-grade subinterval of 21.73 grams per tonne gold over 6.10 metres from 45.72 metres downhole (see attached table). This extends the gold-mineralized zone on the Betty Ford an additional 35 metres along strike to the west, with the total strike length currently at 165 metres.

Additional details on the Betty Ford target are provided in a news release issued by the company on Nov. 28, 2022 (available on SEDAR). The company continues to review and interpret data to better understand the geology and nature of gold mineralization at the Betty Ford target. Over the coming months, the company's geologists and consultants will be carrying out a thorough review and detailed interpretation of all existing exploration and drilling data. Follow-up diamond drilling at the Betty Ford target next season will focus on tracing the near-surface extensions of the gold zone that has now been identified in multiple holes.

Betty Ford target

The Betty Ford target is located at the centre of the Betty property and forms an approximately one-kilometre-long, east-west-trending gold-in-soil anomaly with gold values ranging from trace up to 1,961 parts per billion gold. Bedrock exposure in this area is extremely limited and existing property-scale geology maps indicate the area is underlain predominately by metasedimentary rocks comprising quartzite and muscovite and/or biotite schists. The Betty property is strategically located on the eastern extension of the Coffee Creek fault, which hosts Newmont's Coffee deposit.

In 2018, a six-hole RAB (rotary air blast) drilling program by the company tested the central portion of the soil anomaly and three holes encountered gold mineralization, including 0.94 gram per tonne gold over 24.39 metres in BETFRDRAB18-001, 1.08 grams per tonne gold over 50.29 metres in BETFRDRAB18-002 and 0.75 gram per tonne gold over 13.72 metres in BETFRDRAB18-003. Maiden diamond drilling in 2021 intersected a newly identified polylithic breccia unit that hosts significant near-surface gold mineralization (see the company's news release dated Nov. 17, 2021, available on SEDAR). Hole BETFD21D001 intersected an upper zone of 9.03 grams per tonne gold over 1.0 metre from 6.0 metres downhole and 1.17 grams per tonne gold over 48.0 metres from 19.0 metres downhole while hole BETFD21D003, located 100 metres to the east, intersected 3.46 grams per tonne gold over 50.0 metres from 33.0 metres downhole, including a higher-grade core of 4.47 grams per tonne gold over 30 metres from 44.0 metres. The 2022 diamond drilling and RC drilling were designed to further evaluate the Betty Ford target to determine the extent and continuity of mineralization.

About the Betty property

The Betty property comprises 860 quartz claims, which cover an area of 17,127 hectares and is strategically located contiguous to and 15 kilometres northeast of Western Copper and Gold Corp.'s Casino porphyry deposit and 40 kilometres east of Newmont Corp.'s Coffee gold deposit.

The property hosts several early-stage exploration targets, including the Betty Ford, Betty White, Betty Grable, Betty Black and Mascot targets. The property was originally staked in 2010 and since that time has seen intermittent exploration. Early work from 2010 to 2013 was carried out by Ethos Gold Corp., which completed soil geochemistry surveys (coarse grid), airborne magnetic and radiometric surveys, the acquisition of high-resolution satellite imagery, trenching, and reverse circulation drilling. The majority of Ethos's work was focused in the Mascot target area leaving large portions of the property underexplored. More recent work included mapping and prospecting, infill soil geochemistry sampling, ground geophysical surveys (induced polarization/resistivity and magnetics -- very low frequency/electromagnetic), lidar surveys, GT probe sampling, and RAB drilling in 2018. Significant historical RC and RAB drilling results include 2.62 grams per tonne gold over 41.1 metres in hole BETR12-022, 29.75 grams per tonne gold over 3.1 metres in BETR12-012 and 2.19 grams per tonne gold over 10.7 metres in BETR12-014 in Ethos's RC drilling at the Mascot target, and 1.08 grams per tonne gold over 50.29 metres in hole BETFRDRAB18-002 in 2018 RAB drilling by the company at the Betty Ford target.

The Betty property is underlain primarily by Late Devonian metasedimentary rocks of the Snowcap assemblage that have been intruded by the Middle Cretaceous Dawson Range granodiorite and diorite in the southern portion of the property. The structural geological setting of the property area is complex with four major fault arrays being recognized: (1) west-northwest-trending Yukon River shear zone (YRSZ); (2) east-west-trending Coffee Creek fault; (3) northwest-trending Big Creek fault; and (4) northeast-trending Dip Creek fault. The earliest faults are west-trending to west-northwest-trending, southerly verging thrust faults (later movement is dextral strike slip), including the Coffee Creek fault and Yukon River shear zone, and northwest-trending oblique second-order faults. Later fault systems include the northwest-trending Big Creek fault and the northeast-trending Dip Creek fault. Additional second-order and third-order faults also developed at this time, possibly in the Mid to Late Cretaceous. The most important structures controlling gold mineralization as outlined by soil geochemistry appear to be second-order and third-order northeast-trending and west-trending structures. These areas include the Betty Ford, Betty White, Betty Grable and Mascot zones. More rarely, gold mineralization appears to be associated with regional-scale structures, as is the case with the Betty Black zone on the Coffee Creek fault. Based on soil geochemistry and structural interpretations, the property is prospective for several styles of mineralization, including orogenic gold, intrusion-related gold and porphyry copper (gold/molybdenum) mineralization.

Quality assurance/quality control (QA/QC)

Analytical work for the 2022 RC drilling program was performed by Bureau Veritas, an internationally recognized analytical services provider, at its North Vancouver, B.C., laboratory. Sample preparation was carried out at its Whitehorse, Yukon, facility. All RC chip samples were prepared using the PRP70-250 package, where samples were weighed, dried and crushed to greater than 70 per cent passing a two-millimetre sieve, then pulverized to greater than 85 per cent passing 75 microns). Samples were then analyzed in accordance with BV's FA430 and MA250 packages for both gold analysis by fire assay (30-gram fire assay with AAS finish) and ultratrace multielement ICP analysis (0.25 gram; four-acid digestion and ICP-MS analysis). The reported sampling program work was completed using industry-standard procedures, including a QA/QC program consisting of the insertion of standards and blank samples into the sample stream. BV also runs a comprehensive QA/QC program of standards, duplicates and blanks within each sample stream.

About White Gold Corp.

The company owns a portfolio of 17,584 quartz claims across 30 properties covering approximately 350,000 hectares representing over 40 per cent of Yukon's emerging 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 1,139,900 ounces indicated at 2.28 grams per tonne gold and 402,100 ounces inferred at 1.39 grams per tonne 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 an inferred gold resource of 267,600 ounces at 1.62 grams per tonne gold. 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 Corp. with measured and indicated resources of 2.17 million ounces at 1.46 grams per tonne gold and inferred resources of 500,000 ounces at 1.32 grams per tonne gold, and Western Copper and Gold Corp.'s Casino project, which has measured and indicated resources of 14.8 million ounces gold and 7.6 billion pounds copper and inferred resources of 6.3 million ounces gold and 3.1 billion pounds copper.

Qualified person

Terry Brace, PGeo, 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.

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