Thunder Bay, Ontario--(Newsfile Corp. - February 17, 2021) - White Metal Resources Corp. (TSXV: WHM) ("White Metal" or the "Company") is pleased report that they have contracted Abitibi Geophysics Inc. to complete a DasVision Induced Polarization ("IP") geophysical survey on its Tower Stock Gold Project (the "Project" or the "Property"). The Project, which has not seen any exploration activity for more than eight years, is located about 40 km west-northwest of the port city of Thunder Bay, Ontario and consists of 126 unpatented mining claims and 157 ha of patented lands, covering in total about 1 944 hectares (19.44 square km).
Michael Stares, President and CEO of White Metal, commented, "I am pleased to see the drill turning on the Property and the implementation of the DasVision IP survey. We have a robust database with historical drilling information and data, as well as historical and current surface sampling that gives us great confidence in the targets we have chosen for our first phase drilling program. I am convinced that the IP survey will further enhance the Project and give us a lot more information for future drilling programs, including more information on how the zones are connected, and provide new near-surface and deeper-seated targets."
The DasVision distributed array survey is designed for deep mineral exploration, up to 1000 m depth, and includes a 3D inversion of the data to allow for integration with our existing exploration work. The IP survey will encompass an area of approximately 4 x 4 km, covering some of the Company's main exploration targets including the U-V Zone and the Bench Zone areas. To date, there have been various historical IP surveys done over the Property but these have covered only small portions of the Property.
The Company believes that the DasVision IP survey will provide a better understanding of the structures that are likely controlling gold distribution and will also provide quality subsurface information about the approximately 700 m gap between the U-V and Bench zones. The IP survey is designed to test depths of +800 m and will take approximately four weeks to complete. Once the IP survey is complete, all of the data will be integrated with the Company's database of historical drill hole and surface sampling, and a 3D model will be generated.
Table 1 provides a summary of historical drilling highlights from the Tower Stock Gold Project. It is important to note that a multitude of historical drill holes ended in gold mineralization, hosted by volcanic rocks; a selected list of these holes is provided in Table 2. Historical exploration data and information provided in Tables 1 and 2 has not been verified by a qualified person ("QP").
Table 1. Summary of selected historical drill core assays.
|Drill Hole||Interval (m)||Width (m)||Au (g/t)|
|DDH 02-02||30.5 - 42.5||12||3.28|
|including||41.0 - 42.5||1.5||23.17|
|DDH 02-03||57.5 - 59.0||1.5||1.28|
|and||162.5 - 236.0||73.5||1.05|
|including||177.5 - 192.5||15||2.08|
|Including||179.0 - 180.5||1.5||5.05|
|TM03-11||12.0 - 13.5||1.5||1.2|
|and||51.0 - 91.5||40.5||1.27|
|including||63.0 - 67.5||1.5||7.31|
|including||66.0 - 67.5||1.5||19.76|
|TM-04-01||64.5 - 70.5||6||2.76|
|and||81.0 - 84.0||3||3.06|
|including||81.0 - 82.5||1.5||5.64|
|TM-04-02||42.0 - 43.5||1.5||546.8|
|and||69.0 - 85.5||16.5||1.73|
|including||84.0 - 85.5||1.5||13.73|
|TM-04-03||33.0 - 34.5||1.5||2.47|
|and||64.5 - 84.0||19.5||47.22|
|including||73.5 - 75.0||1.5||588.89|
|including||75.0 - 76.5||1.5||19.12|
|TM-04-06||132.0 - 133.5||1.5||3.26|
|and||133.5 - 135.0||1.5||164.69|
|and||135.0 - 138.0||3||1.17|
|TM-04-09||51.0 - 52.5||1.5||1.26|
|and||171.0 - 232.5||61.5||2.4|
|including||177.0 - 184.5||7.5||4.17|
|including||195.0 - 214.5||19.5||3.41|
|including||222.0 - 232.5||10.5||3.21|
|TM-04-12||246.0 - 289.5||43.5||1.02|
|including||271.5 - 282.0||10.5||2.07|
|TM-04-15||64.5 - 81.0||16.5||3.89|
|including||70.5 - 72.0||1.5||34.46|
|and||273.0 - 274.5||1.5||1.01|
|TM-04-16||117.0 - 120.0||3||3.29|
|including||103.5 - 106.5||3||1.32|
|TM-04-19||43.5 - 78.0||34.5||1.25|
|including||46.5 - 48.0||1.5||15.76|
|including||64.5 - 67.5||3||2.12|
|and||90.0 - 96.0||6||3.13|
|TM-04-22||183.0 - 193.5||10.5||3.25|
|TM-04-24||246.0 - 250.5||4.5||1.06|
|and||264.0 - 270.0||6||1.5|
|and||298.5 - 334.5||36||1.02|
|including||298.5 - 300.0||1.5||9.35|
|including||304.5 - 324.0||19.5||1.89|
|including||333.0 - 334.5||1.5||1.14|
|and||30.0 - 34.5||4.5||7.5|
|and||208.5 - 211.5||3||3.96|
|TM-04-36||43.5 - 48.0||4.5||1.77|
|and||54.0 - 57.0||3||25.23|
|including||54.0 - 55.5||1.5||50.03|
|and||75.0 - 78.0||3||3.87|
|and||222.0 - 223.5||1.5||1.24|
|TM-05-38||16.5 - 24.0||7.5||5|
|including||18.0 - 19.5||1.5||16|
|TM-11-62||152 - 225.5||73.5||0.82|
|including||168.5 - 189.5||21||1.76|
|including||180.5 - 188||7.5||3.44|
|TM-11-63||180.5 - 185||4.5||4.93|
|and||228.5 - 239||10.5||0.36|
|and||302 - 312.5||10.5||0.41|
|and||356 - 365||9||1.75|
|TM-11-67||14 - 101||87||0.98|
|TM-11-75||20 - 30.5||10.5||0.58|
|and||38 - 65||27||2.01|
|and||80 - 93.5||13.5||0.56|
|and||104 - 114.5||10.5||0.32|
|TM-11-84||6.5 - 21.5||15||0.44|
|and||63.5 - 65||1.5||1.1|
|and||71 - 116||45||1.01|
|including||71 - 78.5||7.5||2.43|
|and||81.5 - 95||13.5||0.85|
|and||104 - 110||6||1.93|
*intervals are not indicative of true widths
Table 2. Summary of selected drill holes that terminated in gold mineralization.
| Zone||Drill Hole||End of Hole|
With at least 2 km of potential strike between the U-V Zone gold deposit in the northwest and the last recorded exploration drilling (TM-07-58: 6.0 metres @ 5.42 g/t Au) to the southeast, the Company believes there is ample opportunity to build both low- and high-grade gold resources over a large area.
A Qualified Person ("QP") has not done sufficient enough work to verify the historical assay results and technical information reported herein.
Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Exploration and a Director of White Metal, who is a Qualified Person under the definitions established by the National Instrument 43-101.
About White Metal Resources Corp (TSXV: WHM):
White Metal Resources Corp is a junior exploration company exploring in Canada.
For more information in regards to White Metal Resources Corp. you can visit the company's Web Page at www.whitemetalres.com.
On behalf of the Board of Directors of White Metal Resources Corp.
President & CEO, Director
For further information contact:
President & CEO, Director
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 358-2420
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections
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