08:59:52 EDT Tue 24 May 2022
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or Name
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White Metal Resources Corp
Symbol WHM
Shares Issued 97,893,211
Close 2021-02-18 C$ 0.12
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White Metal Resources completes drilling at Taranis

2021-02-18 10:35 ET - News Release

Mr. Michael Stares reports

WHITE METAL COMPLETES DRILLING PROGRAM AT THE TARANIS COPPER-SILVER PROJECT, NAMIBIA

White Metal Resources Corp. has completed its first drilling program on its 95-per-cent-owned Taranis copper-silver project, located in northwestern Namibia and defined by exclusive prospecting licence (EPL) 7071. The reverse circulation (RC) drilling program, which began on Jan. 19, 2021 (see company news release dated Jan. 14, 2021), consisted of 28 drill holes totalling 3,226 metres. The drilling program focused in the area that covers the historical mineral resources contained within the Okohongo copper-silver deposit.

Michael Stares, president and chief executive officer of the company, stated: "The four-week RC drilling program in Namibia was a success and will provide us with the necessary data and information to complete an NI 43-101-compliant mineral resource estimate on the Okohongo copper-silver deposit. We look forward to receiving assay results by mid-March and announcing a resource estimate by April."

A total of 727 samples were submitted to Actlabs in Windhoek, Namibia, for preparation and will be analyzed at Actlabs in Canada. Of the total samples, 619 are RC chip samples and 108 are blank, standard and duplicate samples submitted as part of the quality assurance/quality control program.

The Taranis property (Okohongo property), covering about 19,850 hectares (ha), includes the historical Okohongo copper-silver (Cu-Ag) deposit which has been outlined by historical drilling (see INV Metals news release dated Aug. 3, 2011), showing it extends over 600 metres in strike length, 400 metres downdip and is interpreted to be open in all directions. The Okohongo, situated within the Kaoko belt of northwestern Namibia about 700 kilometres (km) northwest of Windhoek, is hosted by metasedimentary stratigraphy and is considered to be analogous with the stratiform sediment-hosted Central African copper belt 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 Cu and 17.75 grams per tonne (g/t) Ag, using a 0.3-per-cent-copper cut-off.

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 definition standards on mineral resources and mineral reserves as outlined in National Instrument 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 (professional geoscientist), vice-president of 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.

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

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