Mr. Michael Stares reports
WHITE METAL REPORTS 1.54% CU AND 36 G/T AG OVER 31 METRES FROM THE TARANIS COPPER-SILVER PROJECT, NAMIBIA
White Metal Resources Corp. has received the first batch of assay results from six of 28 reverse circulation (RC) drill holes (total 3,226 metres) from its January to February, 2021, drilling program and results from the resampling of core from four historical diamond drill holes, all targeting the historical Okohongo Cu-Ag (copper-silver) deposit (see "Assays from resampled historical drill core and RC chip samples from recent drilling program" table). The 95-per-cent-owned Taranis copper-silver project, which includes the historical Okohongo copper-silver deposit, is located in northwestern Namibia and is defined by exclusive prospecting licence (EPL) 7071, covering about 19,850 hectares.
Michael Stares, interim president and chief executive officer of the company, stated: "I am pleased to see these very positive results from the resampling of historical drill core and initial results from the recently completed RC drilling program which has confirmed high-grade copper and substantial silver grades from the historical Okohongo Cu-Ag deposit. With the recent rise in copper and silver prices, we see this project adding important value to the company and making the project even more attractive to a potential partner interested in advancing it while the company focuses on its flagship property, the Tower Stock gold project, located in Northwestern Ontario, Canada."
ASSAYS FROM RESAMPLED HISTORICAL DRILL CORE AND RC CHIP SAMPLES FROM RECENT DRILLING PROGRAM
Type/ Drill hole From (m) To (m) Int. (m) Cu (%) Ag (g/t) Pb (ppm) Zn (ppm)
historical hole
Resampled core INVD-017 208.00 216.00 8.00 0.61 46 55 93
incl. 214.00 216.00 2.00 1.24 118 79 124
Resampled core INVD-018 188.00 192.00 4.00 0.19 10 558 127
incl. 190.00 192.00 2.00 0.30 19 891 116
Resampled core TCD-013 101.00 130.00 29.00 0.63 13 205 89
incl. 104.00 105.00 1.00 1.14 57 598 79
incl. 110.00 111.00 1.00 1.14 21 51 133
incl. 116.00 118.00 2.00 1.57 12 97 124
incl. 123.00 124.00 1.00 1.91 13 157 99
Resampled core TCD-016 33.00 64.00 31.00 1.54 36 173 97
incl. 35.90 50.00 14.10 2.45 58 118 99
incl. 39.00 40.00 1.00 5.10 123 106 71
New RC drilling/ OK20-P01 22.00 53.00 31.00 1.40 27.3 482 104
INVR-004 incl. 25.00 42.00 17.00 1.73 31 684 103
incl. 26.00 27.00 1.00 3.89 28.5 265 74
incl. 34.00 42.00 8.00 2.01 41.7 778 114
New RC drilling/ OK20-P02 71.00 110.00 39.00 1.14 12.9 46 83
INVR-005 incl. 73.00 79.00 6.00 3.12 23.2 111 76
incl. 73.00 74.00 1.00 4.71 12.8 199 76
New RC drilling/ OK20-P03 144.00 148.00 4.00 0.24 2.1 78 126
INVR-020 and 187.00 196.00 9.00 0.59 13.5 68 89
incl. 195.00 196.00 1.00 1.70 32.6 153 96
New RC drilling/ OK20-P14 No significant results
INVR-010
New RC drilling/ OK20-P18 25.00 29.00 4.00 1.96 1.4 1,229 31
INVR-036 incl. 26.00 27.00 1.00 7.55 3.5 2,080 22
and 126.00 135.00 9.00 0.50 7.9 788 82
incl. 130.00 132.00 2.00 1.23 13.1 2,880 77
and 148.00 167.00 19.00 0.96 14.8 18 80
incl. 159.00 164.00 5.00 2.18 27.3 28 121
incl. 162.00 163.00 1.00 5.97 70.2 25 141
New RC drilling/ OK20-P22 130.00 136.00 6.00 0.11 1.7 18 91
INVR-067 and 157.00 168.00 11.00 0.30 9.5 48 72
incl. 166.00 167.00 1.00 0.94 32.8 29 92
The recently completed RC drilling (OK20-P series holes) on the property was aimed at twinning many of the RC drill holes that were used to calculate the 2011 historical mineral resource estimate (see the "Historical mineral resources for the Okohongo copper-silver project, Namibia" table) as reflected in the "Assays from resampled historical drill core and RC chip samples from recent drilling program" table.
Once the company receives all the results from the recently completed drilling program, it will begin the process of updating the historical mineral resources from the Okohongo Cu-Ag deposit to a current National Instrument 43-101 mineral resource estimate and technical report.
The Taranis copper-silver project is located in a very prospective area of northwestern Namibia. Although the primary target is the historical Okohongo copper-silver deposit, the company will be conducting reconnaissance work over the entire EPL (exclusive prospecting licence), including follow-up on a number of historical copper showings.
The historical Okohongo Cu-Ag deposit has been outlined by historical drilling which shows that it extends for over 600 metres in strike length and 400 metres down dip and is open in all directions (see INV Metals news release dated Aug. 3, 2011). Okohongo, 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 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 Ag, using a 0.3-per-cent Cu cut-off (see "Historical mineral resources for the Okohongo copper-silver project, Namibia" table; INV Metals National Instrument 43-101 technical report, effective date March 31, 2011).
HISTORICAL MINERAL RESOURCES FOR THE OKOHONGO COPPER-SILVER PROJECT, NAMIBIA
Specific
Cut-off gravity Tonnes Cu (%) Ag (g/t) Cu (tonnes) Ag (ounces) Category
0.0 2.45 11,691,539 1.01 15.85 117,645 5,957,874 Inferred
0.1 2.45 11,682,796 1.01 15.86 117,640 5,957,640 Inferred
0.2 2.45 11,453,414 1.02 16.13 117,219 5,940,047 Inferred
0.3 2.45 10,196,456 1.12 17.75 114,046 5,818,534 Inferred
0.4 2.45 9,535,538 1.17 18.66 111,731 5,719,226 Inferred
0.5 2.45 8,705,239 1.24 19.73 107,993 5,522,454 Inferred
0.6 2.45 8,142,684 1.29 20.50 104,877 5,366,572 Inferred
0.7 2.45 7,366,110 1.35 21.61 99,810 5,116,714 Inferred
0.8 2.45 6,379,793 1.45 23.16 92,402 4,750,190 Inferred
Source: NI 43-101 technical report on the Okohongo copper-silver property in northwest Namibia, INV Metals;
prepared by Caracle Creek International Consulting Pty. Ltd., South Africa, effective March 31, 2011.The company is treating the tonnages and grades reported in the "Historical mineral resources for the Okohongo copper-silver project, Namibia" table as historical mineral resources. The inferred mineral resource estimate reported in the "Historical mineral resources for the Okohongo copper-silver project, Namibia" 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.
Sample analysis
Drill core and RC chip samples were sent to the Activation Laboratories Ltd. preparation lab in Windhoek, Namibia, and once prepared were sent to Actlabs in Ancaster, Ont., Canada, for analyses. The samples were first analyzed with four-acid near total digestion (1F2) with ICP-OES finish for Ag, Cu and a suite of 33 other elements. Subsequently, samples with Ag greater than 100 parts per million (above Ag upper detection limit) were analyzed with fire assay gravimetric (eight Ag) and Cu greater than 10,000 ppm (above Cu upper detection limit) were analyzed with sodium peroxide fusion with ICP-OES finish (eight-peroxide ICP). A quality control/quality assurance (QA/QC) program consisting of the regular insertion of certified reference material copper standards and blanks into the sample stream by the company was in place, as was the industry standard internal QA/QC practice used by Actlabs.
Qualified person
Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (PGeo), vice-president of exploration and a director of White Metal, who is a qualified person under the definitions established by the NI 43-101.
About White Metal Resources Corp.
White Metal Resources is a junior exploration company exploring in Canada and Southern Africa.
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