08:07:32 EDT Tue 24 May 2022
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White Metal Resources Corp
Symbol WHM
Shares Issued 128,589,750
Close 2021-09-15 C$ 0.09
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White Metal receives Okohongo exploration licence

2021-09-16 10:47 ET - News Release

Mr. Michael Stares reports

WHITE METAL RECEIVES EXPLORATION LICENCE RENEWAL ON ITS OKOHONGO COPPER-SILVER PROJECT, NAMIBIA

White Metal Resources Corp. has received a two-year renewal for its exclusive prospecting licence (EPL) 7071, setting the new expiry date to June 12, 2023. The 95-per-cent-owned EPL7071, referred to as the Taranis (Okohongo) copper-silver project, covers about 13,825 hectares and is located in the Kaoko copperbelt, northwestern Namibia. The property size was reduced from its original size of 19,805 hectares as part of the requirements for EPL renewal.

Michael Stares, president and chief executive officer of White Metal, stated: "We are very pleased to have received the renewal for our Okohongo EPL7071. Namibia has proven to be a very good country to work in and we will continue to advance the Okohongo copper-silver project and at the same time pursue a partner to work with us in moving the project forward. We have been very successful in our exploration of the property including developing new copper targets north and south along strike from the Okohongo deposit and completing a new mineral resource estimate. We will continue to work the project in tandem with White Metal's flagship gold project, the Tower Stock gold project, located in Ontario, Canada."

Mineral resource estimate

White Metal's new mineral resource estimate for the Taranis (Okohongo) Cu-Ag project is based on a total of 28 (3,226 metres) reverse circulation drill holes (518 chip samples in resource) and 781.70 metres of historical diamond drill core in four holes (63 core samples in resource). The mineral resources are all in the inferred category. The area covered by the resource is about 740 m wide (east-to-west) and 720 m long (north-to-south). Using a cut-off grade of 0.30 per cent Cu and assuming 10 per cent geological loss, the study reported approximately 7.7 million tonnes grading 1.55 per cent Cu and 26.77 grams per tonne silver with a calculated copper equivalent of 1.82 per cent Cu.

The MRE was prepared by Caracle Creek International Consulting MINRES (Pty) Ltd., South Africa, in accordance with current CIM definition standards on mineral resources and reserves. A technical report in support of the MRE will be filed on SEDAR within 45 days from Aug. 18, 2021. The MRE is effective as at Aug. 11, 2021.

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 Resources 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, Ont., Canada, and the Okohongo copper-silver project in Namibia, Africa.

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