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White Metal Resources Corp
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Leocor, White Metal get OK for exploration on Startrek

2021-09-01 06:57 ET - News Release

See News Release (C-LECR) Leocor Gold Inc

Mr. Alex Klenman of Leocor reports

LEOCOR GOLD GRANTED APPROVAL FOR PHASE 1 EXPLORATION PROGRAM AT STARTREK PROJECT, GANDER AREA OF NE NEWFOUNDLAND, CANADA

Leocor Gold Inc. and White Metal Resources Corp. have received the exploration approval for ground geophysics, line cutting, 100 GT Probe holes and 10 RAB (rotary air blast) holes on the Startrek property: NTS: 02D/16; licences: 026779M, 027282M, 022588M.

The company plans to begin a comprehensive phase 1 exploration program on the project, which is a grassroots-stage property totalling 6,847 hectares, located 20 kilometres east of the town of Gander in north-central Newfoundland. (Leocor is earning up to 70 per cent of the Startrek property.) The property has been historically prospected for gold and more recently, since 2014, it has been explored for its base-metal-antimony (Sb) potential.

The project contains three areas of interest: the western, central and eastern zones. More than 50 gold occurrences have been discovered on the property through previous trenching and grab samples:

  • The western zone features gold mineralization over a strike length of two km, with grab samples up to 3.5 grams per tonne gold and averaging 437 parts per million Au, in quartz stockwork, with veins featuring epithermal features, arsenopyrite and some stibnite.
  • The eastern zone has been traced for two km and displays characteristics of hydrothermal alteration, with solidification, albite and tourmaline. Assays range from 12 ppb to 3.5 ppb Au and average 96 ppb Au.
  • The central zone has seen trenching by Rubicon Minerals, which focused on gold showings in epithermal veining and which produced highly anomalous values of gold, arsenic and antimony, and sampling by White Metal, which produced grab samples up to 41 g/t Au. The average of grabs and channels in the zone is 300 ppb Au.

Leocor will be working with GroundTruth Exploration on the program, which will unify the projects with a common soil database and holistically define what the company expects to be a significant mineralized footprint. The GroundTruth method breaks down the exploration process into phases, typically defined as follows:

Phase 1:

  • Soils 100 m line separation and 25 m sampling separation;
  • Aeromagnetic and VLF (very low frequency) survey;
  • Lidar survey;
  • Ground magnetic survey.

Phase 2:

  • GT Probe drilling (around areas of interest constituting potential targets);
  • Induced polarization across potential drill targets.

Phase 3:

  • GT RAB drilling (typically 60 m holes in fences across shallow targets).

Phase 4:

  • Diamond or reverse circulation drilling (once structure and orientation of target are well defined).

The overall recommended distribution of soils is illustrated in an image on the company's website. In the north of the property area, a series of northwest-trending lines cover licence 027531M and part of the adjacent 026779M licence. These samples cover immediate work requirements and for 026779M and are designed to look for mineralization associated with several Au-bearing float samples, the best of which is sample 18027 where smoky quartz and sulphide are reported with 1,106 ppb Au. The soil lines here are oriented northwest across the general structural fabric of the district.

In the south end of the property a further series of northwest-trending lines cover licence 027282M. These samples more than cover the small work requirement on that property look to define mineralization around sample 235662, which reported 558 ppb Au in epithermal float.

The proposed sampling on licences 026779M and 022558M are illustrated in more detail in an image on the company's website and are shown relative to the northeast structural fabric of the district, which is well defined in the underlying VLF image. Sampling is planned for 100 m line spacings and 25 m sample spacings. The program is designed to find the relationships between the three main mineralized zones, western zone, central zone and eastern zone, with the soil lines generally running perpendicular to the main northeast to north-northeast structural trend and oblique to the secondary east-northeast to east-west secondary structural trend.

About the Startrek project

The history of the project is traced back to when it was first staked by Noranda in 1990 on multielement lake sediment anomalies. It conducted reconnaissance soil survey 778 B horizon soils. It found one bedrock sample of one gram per tonne Au. It found quartz breccias. It also suspected base metal potential as well as gold potential.

In 1996 NDT Ventures conducted prospecting, which included 39 rock chip samples from which anomalous values of gold in two hand trenches reported values to up to 498 ppb Au and generally greater than 2,200 ppm arsenic. It also took 20 heavy mineral concentrate samples, one of which reported a value of 134 ppb Au while four samples contained anomalous As (1,400 to 3,100 ppm).

In 1995 and 1996 Terra Nova Exploration staked ground including Noranda's original Tower property. It conducted a prospecting and rock sampling program (26 samples), which detected a loosely defined 30 m zone of quartz vein ridge outcrops and quartz vein float with stibnite-arsenopyrite-pyrite mineralization. Massive to semi-massive stibnite mineralization in outcrop returned greater than 440 ppm Sb and 71 to 270 ppb Au. Float samples returned 2.19 per cent to 7.30 per cent Sb and five ppb to 671 ppb Au.

In 2001 Alexander S. Duffitt prospected in the area, finding slightly anomalous Au numbers.

Between 2003 and 2004 Rubicon Minerals carried out prospecting, mapping, compilation work and trenching. Rubicon is quoted as saying, "The highest gold values obtained were 8.957 g/t over 0.4 metre and 3.037 g/t over 0.5 metre." In 2004 it drilled the property, but results were disappointing. Rubicon said the "best gold mineralization was intersected in quartz veining along the Start Track trend where hole ST-04-01 returned two assays of greater than 1.0 g/t Au including 1.34 g/t over 0.6 m and 1.25 g/t over 0.65 m."

In 2014 Wayne Reid reported: "Trench 5 uncovered a 5.0-metre-wide stibnite zone and a number of plus-metre-diameter boulders were traced up to 50 metres from the in situ mineralization. The target was a[n] Sb soil anomaly that is at least 500 metres in strike. Values from the sampling include 0.64 per cent Sb and 186 ppb Au over 5.0 metres (channel samples) from a quartz breccia zone. The trenching also exposed a number of large boulders of higher-grade antimony with values of up to 3.93 per cent Sb." The Stares saw the property as a base metal opportunity for the Beaver Brook antimony mine and mill, which sits idle.

In November, 2014: "Sokoman completed reconnaissance soil geochemical and ground magnetometer surveys over the trench 1 area, an antimony discovery made by Mike and Robert Stares in 2013. The program consisted of the collection of 110 B horizon soils." The soil geochemical results returned multiple strongly anomalous antimony (Sb) values ranging to a maximum of 4,500 ppm Sb, commonly with elevated to anomalous gold values up to 181 ppb Au.

The data reported here are historic in nature and have not yet been verified by a qualified person. Leocor has relied on the information supplied in assessment reports of the companies listed above and from information found in MODS (Mineral Occurrences Data System) published by the Newfoundland Department of Natural Resources.

National Instrument 43-101 disclosure

Dr. Paul David Robinson, PGeo, is a qualified person as defined by National Instrument 43-101. Dr. Robinson supervised the preparation of the technical information in this news release.

Engages marketing consultant

Leocor announces it has engaged Creative Direct Marketing Group Inc. (CDMG) to increase Leocor's brand and awareness in the United States. To date, CDMG has been paid a total fee of $275,000 (U.S.).

About Leocor Gold Inc.

Leocor Gold is a British Columbia-based resource company involved in the acquisition and exploration of precious metal projects, with a current focus in Atlantic Canada. Leocor, through outright ownership and earn-in agreements, currently controls several gold-copper projects in prime exploration ground located within the prolific Baie Verte mining district. Leocor's Bae Verte portfolio includes the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, creating a contiguous nearly 2,000-hectare exploration corridor. The company also controls the 6,847-hectare grassroots Startrek project near Gander, as well as three district-scale land packages in north-central Newfoundland, known as Robert's Arm, Hodge's Hill and Leamington, representing over 144,000 hectares (1,440 square kilometres) of prospective exploration

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