Thunder Bay, Ontario--(Newsfile Corp. - May 18, 2021) - White Metal Resources Corp. (TSXV: WHM) (FSE: CGK1) ("White Metal" or the "Company") is pleased report that it has received the final batch of assay results from the remaining 15 reverse circulation ("RC") drill holes from its January-February 2021 drilling program (28 drill holes totalling 3,226 m) (Table 1). The Company previously announced results from 13 drill holes (see Company news releases 23 March 2021 and 8 April 2021). All drill holes from the current program targeted the area of the historical Okohongo Cu-Ag Deposit ("Okohongo"). The 95% owned Taranis Copper-Silver Project (the "Project" or "Property"), 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 & CEO 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 maximise 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."
Table 1. Summary of all drill holes completed in Phase 1 RC drilling program.
|Drill Hole||No. Samples||*UTM_X||*UTM_Y||*Elev. (m)||Az||Dip||Length (m)||Section|
*determined by DGPS survey (WGS84 UTM Zone 33S)
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 Table 2, many of the RC drill holes that were used to calculate the 2011 historical mineral resource estimate, but did include some newly located holes.
Table 2. Selected intercepts from the final batch of RC drill holes.
|Drill Hole||From (m)||To (m)||Int. (m)||Ag (ppm)||Cu (ppm)||Pb (ppm)||Zn (ppm)||Cu (%)||Historical Drill Hole|
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 Table 2 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 ("NI 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 600+ metres in strike length, 400 metres down-dip, and is open in all directions (see INV Metals news release dated August 3, 2011). The Okohongo, situated within the Kaoko Belt of northwest Namibia about 700 km 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% Cu and 17.75 g/t Ag, using a 0.3% Cu cut-off (Table 3; INV Metals Inc. NI 43-101 Technical Report, Effective Date March 31, 2011).
Table 3. Cut-off sensitivity for historical mineral resources (2011), Okohongo Cu-Ag Deposit, Namibia.
|Cut-off||Specific 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 Inc.; Prepared By: Caracle Creek International Consulting (Pty) Ltd., South Africa, Effective March 31, 2011.
The Company is treating the tonnages and grades reported in Table 3 as historical mineral resources. The Inferred mineral resource estimate reported in Table 3 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.
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, Ontario, Canada for analyses. The samples were first analysed with 4-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 ppm (above Ag upper detection limit) were analysed with Fire Assay Gravimetric (8-Ag) and Cu greater than 10,000 ppm (above Cu upper detection limit) were analysed with sodium peroxide fusion with ICP-OES finish (8-Peroxide ICP). 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.
Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.), 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 Corp is a junior exploration company exploring in Canada and southern Africa. For more information about the Company please visit www.whitemetalres.com.
On behalf of the Board of Directors
President & CEO
For further information contact:
President & CEO
White Metal Resources Corp.
Phone: +1 (807) 358-2420
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The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections
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