07:56:20 EDT Tue 24 May 2022
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White Metal Resources Corp
Symbol WHM
Shares Issued 128,589,750
Close 2021-08-23 C$ 0.08
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White Metal drills 10.5 m of 3.68 g/t Au at Tower Stock

2021-08-24 09:04 ET - News Release

Mr. Michael Stares reports

WHITE METAL EXPANDS THE ELLEN ZONE WITH STEP-OUT DRILLING RETURNING 3.68 G/T AU OVER 10.5 M, INCLUDING 19.9 G/T OVER 1.5 M, TOWER STOCK GOLD PROJECT, ONTARIO

White Metal Resources Corp. has received the assay results from the first three diamond drill holes from the phase 2 drilling program on its flagship Tower Stock gold project. The three holes were designed to test both the strike and downdip extension of gold mineralization at the Ellen zone, a new discovery made in the phase 1 diamond drilling program that intersected 1.7 grams per tonne (g/t) gold (Au) over 82.5 metres (m) (from 10 m), including three g/t Au over 45 m (from 10 m) in drill hole TM-21-94 (see White Metal news release dated April 20, 2021).

A summary of results from the higher-grade gold intersections for the first three holes from phase 2 is provided in the attached table. Hole TM-21-100, drilled 25 m northwest of TM-21-94, confirmed the northwest strike extension of the Ellen zone, returning anomalous to high-grade gold between 23 m and 113 m that range from 77 parts per billion (ppb) to 19,900 ppb Au (60 samples). The weighted average of this 90-metre interval is 1.23 g/t Au, including 3.68 g/t Au over 10.5 m (from 23 m).

Michael Stares, president and chief executive officer of White Metal, commented: "Again, we have shown that the Tower Stock gold property has great potential to host a significant gold deposit. We are pleased to announce that, because of these new positive assay results, we will extend the current drilling program to further test the Ellen zone along strike to the northwest. We also look forward to reporting the results of all drill hole assays as they become available. The Tower Stock gold property is unique because of its location, great infrastructure and excellent geology that delivered exceptional gold grades over wide intervals."

Hole TM-21-98, drilled 20 m southwest of and on section with TM-21-94, confirmed the downdip extension of the Ellen zone, returning anomalous to high-grade gold between 72.5 m and 107 m that range from 61 ppb to 5,800 ppb Au (23 samples). The weighted average of this 34.5-metre interval is 1.11 g/t Au, including 2.01 g/t Au over nine m (from 86 m).

Hole TM-21-99, drilled 25 m to the southeast of TM-21-94, was designed to test the southeast strike extension of the Ellen zone but returned minor gold mineralization ranging from six ppb to 1,300 ppb Au in 129 samples.

Ellen zone gold mineralization is hosted within subgreenschist, chlorite-altered metavolcanic rocks and is associated with secondary semi-pervasive and intense sericite plus pyrite (phyllic) alteration with locally developed hydrothermal brecciation. Due to the excellent results from the Ellen zone, the drilling program will now be extended to further test the downdip and strike potential of the Ellen zone.

The Tower Stock property is located approximately 40 kilometres (km) west-northwest of the port city of Thunder Bay, Ont., and covers approximately 1,968 hectares. A more detailed description of the project and the latest diamond drilling and exploration programs can be viewed on the company's website.

The company has completed a total of 2,285.5 metres of the 3,000-metre phase 2 drilling program on four different zones. To date, 11 drill holes have been completed and samples from the first 10 holes have been submitted to Activation Laboratories Ltd. in Thunder Bay, Ont.

Sample analysis

Half-core samples and company quality assurance/quality control (QA/QC) standards and blanks were submitted for analysis by Activation Laboratories (Actlabs) in Thunder Bay, Ont. Samples were transported under the direct supervision of senior White Metal staff and delivered from the property to the laboratory receiving facilities. Samples were analyzed for Au by fire assay with an AA (atomic absorption) finish and Au -- fire assay with gravimetric finish. Actlabs is an independent commercial laboratory that is ISO 9001 certified and ISO 17025 accredited.

Qualified person

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 is a junior exploration company exploring in Canada and southern Africa. The company's two key properties are the flagship Tower Stock gold project near Thunder Bay, Ont., Canada, and the Taranis (Okohongo deposit) copper-silver project in Namibia, Africa.

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