TORONTO, June 19, 2019 (GLOBE NEWSWIRE) — White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to announce it has commenced its 2019 diamond drill program on two of its highest priority properties: the JP Ross and White Gold properties. The diamond drill program is a central component of the Company’s $13 million fully funded 2019 exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC).
10,000m of diamond drilling on the JP Ross property focused on the Vertigo target. The 2019 diamond drill program will focus on evaluating the geometry as well as the lateral and vertical continuity of the high-grade mineralized structures discovered in 2018.
The Vertigo program represents initial diamond drill testing of the Vertigo discovery which produced several high-grade, near surface Reverse Circulation (“RC”) drill intercepts in 2018 including 22.47 g/t Au over 30.46m from surface, as well as high-grade grab samples including 304.3 g/t, 156.2 g/t, 139.9 g/t, 135.6 g/t and 132.9g/t Au.
6,000m of diamond drilling on the White Gold property focused on the Golden Saddle, GS West and Arc deposits.
The program will focus on expansion of current deposits which include an Indicated Mineral Resource of 1,039,600 oz Au within 14,330,000 tonnes at 2.26 g/t gold and an Inferred Mineral Resource of 508,700 oz Au within 10,696,000 tonnes at 1.48 g/t gold.
1,000m of diamond drilling on the VG Deposit which hosts a historic Inferred Resource of 230,000 oz Au.
Images to accompany this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
“We are very excited to have initiated our 2019 diamond drilling program on some of our highest priority targets, including the Vertigo, White Gold and VG to follow up on our success in 2018,” stated David D’Onofrio, Chief Executive Officer. “The goal of this diamond drill program is threefold: to continue to expand Golden Saddle/Arc’s established resources, to follow up on JP Ross’s exciting high grade Vertigo discovery last season and to grow the recently acquired and underexplored VG Deposit. We have also commenced the regional exploration program across our extensive land package, focused on generating a strong pipeline of discoveries and resource growth.”
JP Ross Property – Vertigo Target
A Phase 1 program consisting of 10,000m of diamond drilling on the Vertigo target will focus on defining the geometry of mineralized structures along trend, and evaluating the lateral and vertical continuity of the mineralization. This includes evaluation of the target across the currently defined width of the zone and up to 500m of strike length along the core of the system.
The Vertigo target on the JP Ross property is comprised of 2,850 quartz claims covering over 57,000 hectares with at least 14 defined target areas and numerous placer gold bearing creeks. Previously announced drill results on the Vertigo target range from trace to 22.47 g/t Au over 30.46m from surface (JPRVERRAB18-014/JPRVERRC18-013), 56.25 g/t Au over 3.05m from 3.05m depth, within a broader intercept of 17.34 g/t Au over 10.67m, (JPRVERRAB18-001) and 45.00 g/t Au over 3.05m from 1.52m depth, within a broader intercept of 9.65 g/t Au over 15.24m (JPRVERRAB18-011). Additional exploration in the area also encountered multiple high-grade grab samples including 304.3 g/t, 156.2 g/t, 139.9 g/t, 135.6 g/t and 132.9g/t Au, defining a strike length of approximately 2.2km on the Vertigo target along a larger 18km mineralized trend. The Vertigo Target is located approximately 25km north of the Company’s flagship White Gold property and is within 2km of an existing road accessible from Dawson City.
To date, at least 12 mineralized structures are recognized on the Vertigo target over a 2,200m x 650m area, and consist of W-NW trending, steeply dipping zones of quartz veining, brecciation, and fracture-controlled mineralization with disseminated to vein-controlled pyrite-arsenopyrite-galena and locally, visible gold mineralization.
White Gold Property – Golden Saddle/GS West and Arc
A Phase 1 program consisting of 6,000m of diamond drilling is planned for the Golden Saddle and Arc deposits. At the Golden Saddle, drilling will focus on expansion of the GS West zone, both along strike and down-dip. Limited historic drilling has occurred between the GS West and the GS Main and one of the Company’s key objectives for the 2019 season will be to expand this zone and explore the potential continuity between the two zones. Drilling will also be conducted on the GS Main and GS Footwall and will focus on infilling gaps in the current model; particularly the high-grade core. Included in this high-grade core is 525,600 gold ounces at a grade of 4.68 g/t gold in the Indicated category and 81,900 gold ounces at a grade of 4.74 g/t gold Inferred using a >3 g/t cut-off. Drilling activity on the Arc will focus on expansion of the deposit along strike, and targeted infill drilling to evaluate continuity on higher grade (>2g/t Au) areas within the model. Numerous other targets are known on the property and additional drilling may be conducted in these areas as warranted.
The White Gold Property is located 25km south of the JP Ross – Vertigo target and is host to the Golden Saddle and Arc deposits. The Company recently announced an updated mineral resource estimate(1) on the deposits consisting of an Indicated Mineral Resource of 1,039,600 gold ounces within 14,330,000 tonnes at 2.26 g/t gold and an Inferred Mineral Resource of 508,700 gold ounces within 10,696,000 tonnes at 1.48 g/t gold representing an increase of 25% based on 2018 exploration activity.