08:42:29 EDT Tue 24 May 2022
Enter Symbol
or Name

White Metal Resources Corp
Symbol WHM
Shares Issued 126,724,750
Close 2021-05-11 C$ 0.10
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White Metal drills 61.5 m of 0.51 g/t Au at Tower Stock

2021-05-11 09:11 ET - News Release

Mr. Michael Stares reports


White Metal Resources Corp. has received the final gold assay results from the phase 1 2021 winter drilling program. Core assays from the 2021 drilling program clearly indicate the excellent potential for the Tower Stock gold project, which in addition to historical core assays show a broad horizon of low-grade gold mineralization that spans for over 2.1 kilometres. The company also sees great potential for high-grade gold shoots within the broad intercepts of lower-grade gold mineralization, such as those recorded in recently announced drill hole TM-21-94 from the newly discovered Ellen zone (see company news release dated April 20, 2021). The property covers approximately 1,968 hectares and is located about 40 kilometres (km) west-northwest of the port city of Thunder Bay, Ont.

The 2021 winter drilling program has further substantiated the property's potential and, as a result, the company is planning a follow-up drilling program to further test the large-tonnage potential of the low-grade gold zones and to determine the extent of prospective higher-grade gold zones. It is very important to note that the alteration associated with lower-grade gold mineralization is intense, pervasive and shows good continuity, suggesting there is not only excellent potential to find higher-grade zones at surface but also at depth. Results from the recently completed Abitibi Geophysics DasVision induced polarization (IP) survey also supports this interpretation. Further data and information on the Tower Stock gold project can be found on the company's website.

Highlights from the 2021 phase 1 drilling program and recently completed IP geophysical survey include:

  • Confirmation of low-grade gold mineralization within an intense and pervasive alteration zone, extending over two km along strike;
  • Discovery of the Ellen zone, a new high-grade gold zone, reporting 1.7 grams per tonne (g/t) gold (Au) over 82.50 metres (m), including three g/t Au over 45 m (TM-21-94 -- 10.00 to 92.50 m) and open in all directions;
  • Excellent correlation between the Ellen zone discovery and priority anomaly TS-02 from the DasVision IP survey;
  • DasVision IP survey outlined numerous new targets for follow-up prospecting, trenching and drilling;
  • Drill hole TM-21-95 extended the historical Bench zone to the south by a minimum of 75 metres;
  • Compilation of all historical data and completion of the DasVision IP survey provide excellent drill targets within gaps between gold zones that are up to 500 m in strike;
  • The highly prospective H zone requires remapping and additional drilling to test the new interpretation that this zone dips to the southeast at 50 to 60 degrees.

Michael Stares, president and chief executive officer of White Metal, commented: "I have never seen such an extensive system of gold mineralization covering such a large area. Including the 800-plus-metre gold zone, we now have approximately 2.1 km of aggregate strike length that will require substantial drilling. Additionally, it should be noted that drill hole TM-07-58, which assayed 5.41 g/t Au over six m and is located about 450 m south of drill hole TM-21-95, the most southerly hole of the 2021 drilling program, has not seen any recent work. Therefore, exploration crews will be mobilized later this month to evaluate this area in more detail. There is still a lot of work that needs to be done, including detailed prospecting and mapping, but, most importantly, infill drilling to further explore for the higher-grade sections within the principal gold zones. I look forward to reporting our progress to our shareholders when news becomes available."

The company is also pleased to announce that it has encountered significant widths of low grade gold mineralization (over 0.5 g/t Au) in drill hole TM-21-97. This was the last diamond drill hole of the program, designed to test the downdip and southwest extension of the Bench zone, returning three broad and separate intervals of gold mineralization. These positive results clearly demonstrates that the Bench zone is open at depth and along strike to the northwest, southwest and southeast.

Drill hole TM-21-97 is located about 400 m southeast of drill hole TM-21-94, which collared in the newly discovered Ellen zone and returned a broad interval of 1.7 g/t Au over 82.5 metres (from 10.0 to 92.5 m), including three g/t Au over 45 metres (from 10.00 to 55.00 m) and 59.90 g/t Au over 1.5 metres (from 16.00 to 17.50 m).

Drill hole TM-21-95, located 420 metres southeast of drill hole TM-21-97, exhibits similar alteration and auriferous pyrite mineralization to that observed in TM-21-97 and is believed to be the southeast extension of the Bench zone. Drill hole TM-21-95 returned two separate gold intervals.

The locations and results from holes TM-21-94 and TM-21-95 suggest a potential strike length and exploration target of over 800 m, which has received very little exploration attention. The prospectivity of this region is further supported by its spatial association with a strong chargeability anomaly outlined from the recently completed IP survey (see company news release dated Feb. 17, 2021). The company is very pleased with the latest round of drill results and firmly believes that there is significant room to expand and discover further resources within the Tower Stock gold project, which until now has not seen any exploration activity for more than eight years.

Sample analysis

Core samples were collected from half-split drill core and delivered to Activation Laboratories Ltd. (Actlabs) in Thunder Bay, Ont., by the company. 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 practices used by Actlabs.

A qualified person (QP) has not done sufficient enough work to verify the historical assay results and technical information reported herein. All drill hole intersections represent drill core lengths (intervals) and are not true widths.

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 National Instrument 43-101.

About White Metal Resources Corp.

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

We seek Safe Harbor.

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