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White Metal Resources Corp
Symbol WHM
Shares Issued 19,962,903
Close 2021-04-08 C$ 0.11
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White Metal drills 45 m of 2.02% Cu at Taranis

2021-04-08 11:46 ET - News Release

Mr. Michael Stares reports

WHITE METAL REPORTS 45 METRES GRADING 2.02% CU AND 33 G/T AG FROM SECOND SET OF RC DRILL HOLE RESULTS, TARANIS COPPER-SILVER PROJECT, NAMIBIA

White Metal Resources Corp. has received the second batch of assay results from an additional seven reverse circulation (RC) drill holes from its January/February, 2021, drilling program (28 drill holes totalling 3,226 metres). The company previously announced results from the first batch of six RC drill hole results and the resampling of core from four historical diamond drill holes (see the company's news release dated March 23, 2021). All drill holes from the current program targeted the historical Okohongo copper-silver deposit. 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, president and chief executive officer of the company, stated: "The results from the RC drilling program has again confirmed that the historical RC drill holes do contain significant copper grades and gives us further confidence that the Okohongo copper-silver deposit is a great asset to have in the company's portfolio. With these latest assay results, we will continue to look for the right partner to advance this project. With the demand for copper and silver rising, I think this will bring even further value to the Taranis property. In the meantime, the company will remain focused on its flagship property, the Tower Stock gold property, located in Northwestern Ontario, Canada."

The recently completed RC drilling program (OK20-P series holes) on the property was aimed at twinning, as close as possible and as reflected in an attached table, many of the RC drill holes that were used to calculate the 2011 historical mineral resource estimate.

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 copper-silver 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, including follow-up on a number of historical copper showings.

The historical Okohongo copper-silver 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 Inc.'s news release dated Aug. 3, 2011). The Okohongo deposit, 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 as historical mineral resources. The inferred mineral resource estimate reported in an 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.

Sample analysis

Drill core and RC chip samples were sent to the Activation Laboratories Ltd. (Actlabs) 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 silver, copper and a suite of 33 other elements. Subsequently, samples with silver greater than 100 parts per million (above silver upper detection limit) were analyzed with fire assay gravimetric (8-Ag) and copper greater than 10,000 parts per million (above copper upper detection limit) were analyzed with sodium peroxide fusion with ICP-OES finish (8-peroxide ICP). A quality assurance/quality control 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 practices used by Actlabs.

Qualified person

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 and southern Africa.

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