THUNDER BAY, Ontario, July 06, 2021 (GLOBE NEWSWIRE) -- White Metal Resources Corp. (TSXV: WHM)(FRA: CGK1) (OTCMKTS: TNMLF) (“White Metal” or the “Company”) is pleased to announce it has started its summer drilling program on the Tower Stock Gold Property (the “Property”) which is located about 40 km west-northwest of the port city of Thunder Bay, Ontario and covers approximately 1,968 hectares. The diamond drilling program is expected to take between four and five weeks to complete with a total of 3,000 metres planned.
Michael Stares, President and CEO of White Metal, commented, “I am very pleased to start this second round of drilling and equally as excited to be drilling the newly discovered Ellen Zone. Also we have numerous other great targets that have been selected to drill test from recently completed DASVISION IP Survey and the 3D magnetic interpolation. The drilling program will also be focused on untested areas of the Bench Zone which have separations in drilling of up to 75 to 100 metres and as a result a considerable amount of detailed drilling is required. Another key aspect of the drilling program will be to test the possibility that the U-V Zone, Ellen Zone and the Bench Zone all connect to the south D Zone, which will give the gold zone a and aggregate 1.5 km strike length. The H Zone will also be drill tested to see if the gold mineralization does indeed dip 60 degrees to the southwest as suspected from the results of last winter’s drilling program. I look forward to getting the core to the lab and reporting the assay results to our shareholders.”
The newly discovered Ellen Zone, located about 340 metres south of the U-V Zone and about 300 metres north of the Bench Zone, is an area that has seen no historical drilling and is open in all directions. The drilling campaign will be focused on several key areas including:
- To further test and extend the newly discovered Ellen Zone, as reported from drill hole TM-21-94, which returned 1.7 g/t Au over 82.5 metres, including 3 g/t Au over 45 metres, and including 1.5 metres of 58 g/t Au and 198 g/t Ag (see news release dated April 20, 2021);
- Tracing the Ellen Zone to the northwest and to the southeast;
- Extending the Bench Zone both northwest and southeast;
- Step out holes to follow up on drill hole TM-21-97, which intersected anomalous gold mineralization over nearly its entire 347.71 m length (47% of 229 samples >100 ppb Au, to a maximum of 2.16 g/t Au) and supported the interpretation that the Bench Zone dips 50 to 60 degrees southwest;
- Confirming the Company’s interpretation that the Bench Zone is open in all directions;
- Testing the extension of the D Zone, TM-21-95 which returned 0.63 g/t Au over 63.5 metres. This wide intercept of elevated gold mineralization is located 300 metres southeast of TM-21-95 and is thought to be connected to the Bench Zone to the north;
- Testing up to three IP targets; 1) associated with and proximal to 04-36 Zone which is untested, 2) an extensive anomaly occurring between the U-V and Bench zones and is mostly untested, and 3) an anomaly located in the south extent of the overall target area (E Zone) with one historical hole TM-07-57 that drilled along the west edge of the anomaly and returned 0.37 g/t Au over 79.5 metres; and
- Testing across a resistivity high which underlies the majority of the Ellen Zone.
To view the accompanying “Tower Stock Gold Property: Drill Holes, Geophysics, and General Geology” infographic please visit:
A detailed description of the planned drilling areas can be viewed on the Company’s website (https://www.whitemetalres.com/tower-stock-au.html).
All drill hole intersections presented herein represent drill core lengths (intervals) and are not considered true widths.
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. The company’s two key properties are the Flagship Tower Stock Gold Project in Thunder Bay, Ontario, Canada and the Okohongo Copper-Silver Project in Namibia, 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.
684 Squier Street
Thunder Bay, ON P7B 4A8
Phone: +1 (807) 358-2420
White Metal Resources Corp.
Phone: +1 (604) 507-3377
TF: +1 (866) 503-3377
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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.
Tower Stock Gold Property
Tower Stock Gold Property: Drill Holes, Geophysics, and General Geology
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