07:39:05 EDT Tue 24 May 2022
Enter Symbol
or Name
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CA



White Metal Resources Corp
Symbol WHM
Shares Issued 97,893,211
Close 2021-02-09 C$ 0.12
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White Metal drills 2,610 metres at Taranis to date

2021-02-09 11:19 ET - News Release

Mr. Michael Stares reports

WHITE METAL PROVIDES UPDATE ON DRILLING PROGRAM ON THE TARANIS COPPER-SILVER PROJECT, NAMIBIA

White Metal Resources Corp. has provided an update on its first reverse circulation drilling program at its 95-per-cent-owned Taranis copper-silver project, located in northwestern Namibia and defined by exclusive prospecting licence (EPL) 7071. The project includes the historical mineral resources of the Okohongo copper-silver deposit. The company began the drilling program on Jan. 19, 2021 (see the company's news release dated Jan. 14, 2021), and to date has completed more than 22 holes totalling approximately 2,610 metres and about 3,000 metres planned.

Michael Stares, president and chief executive officer of the company, stated: "The RC [reverse circulation] drilling program in Namibia has been going very well, and we expect to wrap it up and submit all samples to the lab within about a week's time. The aim of this current drilling program is to generate an NI 43-101-compliant mineral resource estimate and technical report on the Okohongo deposit. Given the recent rise in copper prices and strong silver prices, we are committed to continuing to advance the project, which, in addition to a copper-silver resources, shows excellent exploration potential. We are continuing to seek a partner for this project while we focus on the company's flagship property, the Tower Stock gold project, located in Northwestern Ontario."

The company received its environmental clearance certificate (ECC) for EPL 7071 in January, 2020 (see news release dated Jan. 7, 2020), and recently completed the relogging of historical RC drill hole sample chips and the resampling of historical diamond drill core. In addition to the RC drilling program, a reconnaissance geological mapping and sampling program is planned over the property. The primary objective of the 2021 exploration program is to update the historical mineral resources in the Okohongo deposit and complete a mineral resource estimate and technical report compliant with National Instrument 43-101.

The Taranis property (also known as the Okohongo property), covering about 19,850 hectares, includes the historical Okohongo copper-silver deposit, which has been outlined by historical drilling (see INV Metals Inc.'s news release dated Aug. 3, 2011), showing it extends over 600 metres in strike length and 400 metres down dip and is interpreted to be open in all directions. The Okohongo property, situated within the Kaoko belt of northwest Namibia about 700 kilometres northwest of Windhoek, is hosted by metasedimentary stratigraphy and is considered to be analogous with the stratiform sediment-hosted Central African Copperbelt deposits of Zambia and the Democratic Republic of the Congo. This deposit contains historical inferred mineral resources of 10.2 million tonnes grading 1.12 per cent copper and 17.75 grams per tonne silver, using a 0.3-per-cent-copper cut-off (INV Metals' NI 43-101 technical report; effective date of March 31, 2011).

The company is treating the tonnages and grades reported in the attached table as historical mineral resources. The inferred mineral resource estimate reported in the attached table for the Okohongo copper-silver deposit was prepared by qualified authors in 2011, conforming to CIM (Canadian Institute of Mining, Metallurgy and Petroleum) definition standards on mineral resources and mineral reserves as outlined in NI 43-101, Standards of Disclosure for Mineral Projects. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources and the company is not treating the historical estimates as current mineral resources. Investors are cautioned that the historical estimates do not mean or imply that economic deposits exist on the properties. The company has not undertaken any independent investigation of the historical estimates or other information contained in this news release, nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information. The company believes that these historical estimates and other information contained in this news release are relevant to continuing exploration on the property.

Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans, PGeo, vice-president, exploration, and a director of White Metal, who is a qualified person under the definitions established by NI 43-101.

About White Metal Resources Corp.

White Metal Resources is a junior exploration company exploring in Canada.

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