08:13:47 EDT Tue 24 May 2022
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or Name
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White Metal Resources Corp
Symbol WHM
Shares Issued 126,724,750
Close 2021-05-18 C$ 0.085
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White Metal drills 23 m of 46.3 g/t Ag at Taranis

2021-05-18 09:23 ET - News Release

Mr. Michael Stares reports

WHITE METAL REPORTS 23.0 METRES OF 2.31% CU, 46.3 G/T AG INCLUDING 4.0 METRES OF 4.74% CU, 65.1 G/T AG FROM FINAL RC DRILLING RESULTS, TARANIS COPPER-SILVER PROJECT, NAMIBIA

White Metal Resources Corp. has received the final batch of assay results from the remaining 15 reverse circulation drill holes from its January to February, 2021, drilling program (28 drill holes totalling 3,226 metres (m)). The company previously announced results from 13 drill holes. All drill holes from the current program targeted the area of the historical Okohongo copper-silver (Cu-Ag) 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: "We see again that the RC drill holes from Okohongo are confirming the historical results and we look forward to completing a current NI 43-101 mineral resource estimate and technical report very soon. Strong copper and silver prices have given this project a robust valuation and we look forward to receiving our property renewal in the coming months. We will be working aggressively to maximize the value of our Namibian copper projects, while maintaining our focus on our 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, but did include some newly located holes.

There were no significant intersections in drill hole OK20-P013 and drill holes OK20-P09, -010, -015 and -016 did not intersect visible copper mineralization and were therefore not sampled. Intervals shown in an attached table are not true widths but, rather, refer to the RC chip sample intervals that were assayed.

Now that the company has received 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 historical Okohongo Cu-Ag deposit has been outlined by historical and current drilling which shows that it extends for over 600 metres in strike length, 400 metres downdip and is 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 g/t Ag, using a 0.3-per-cent-copper cut-off.

The company is treating the tonnages and grades reported in an attached table as historical mineral resources. The inferred mineral resource estimate reported 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) at the time of disclosure. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves and the company is not treating the historical estimates as current mineral resources or mineral reserves. Investors are cautioned that the historical estimates do not mean or imply that economic deposits exist on the property. 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 this historical estimate and other information contained in this news release are relevant to continuing exploration on the property.

Sample analysis

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 Ag, Cu and a suite of 33 other elements. Subsequently, samples with Ag greater than 100 parts per million (ppm) (above Ag upper detection limit) were analyzed with fire assay gravimetric and Cu greater than 10,000 ppm (above Cu upper detection limit) were analyzed with sodium peroxide fusion with ICP-OES finish. A quality control/quality assurance (QA/QC) program consisting of the regular insertion of certified reference material copper-silver 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 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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