TORONTO, March 12, 2024 (GLOBE NEWSWIRE) — White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the “Company”) is pleased to announce participation in the OTC Markets Metals & Mining Virtual Investor Conference and in the Invest Yukon Investment Conference & Property Tour of the Company’s flagship White Gold Project along with other events in 2024. The White Gold Project is located in west-central Yukon, Canada, and comprises 16 million tonnes averaging 2.23 g/t Au for 1,152,900 ounces of gold in the Indicated Resource category and 19 million tonnes averaging 1.54 g/t Au for 942,400 ounces of gold in the Inferred Resource category (1). The Company’s significant gold resources and other discoveries continue to demonstrate the expansiveness of gold mineralization on its extensive and underexplored land package in the emerging White Gold District, Yukon, Canada, with its exploration supported by strategic partners including Agnico Eagle Mines Limited and Kinross Gold Corporation.
Book a Meeting with Management
The Company encourages shareholders and other interested parties to book a virtual meeting with management and the Investor Relations team by inquiring at ir@whitegoldcorp.ca to learn more about the Company’s gold resources and unique district scale exploration portfolio in a tier 1 mining jurisdiction, upcoming 2024 exploration plans, and to ask any other questions they may have.
2023 Exploration Overview
In 2023, the Company successfully increased the size of its gold resources and published an updated Mineral Resource Estimate (“MRE”) (1) for its flagship White Gold Project significantly updating the MRE to include 16.11 million tonnes of Indicated Resources averaging 2.23 grams per tonne gold for 1.153 million ounces of gold and 18.99 million tonnes of Inferred Resources averaging 1.54 grams per tonne gold for 942,400 million ounces of gold, representing an increase of Inferred Resources by 41%. The updated MRE also includes a maiden resource estimate for the Ryan’s Surprise deposit, which included an Inferred Resource of 227,700 ounces of gold averaging 1.97 grams per tonne gold. The Ryan’s Surprise deposit is located 1.5 km west of the Golden Saddle and Arc deposits, and along the Ryan’s Trend, a 6.5 km long gold-arsenic geochemical anomaly which hosts additional prospective gold targets.
The 2023 exploration program also consisted of diamond drilling and other exploration activities including RAB drilling, Induced Polarization – Resistivity Ground surveys, geological mapping and prospecting, soil geochemistry surveys, and ground magnetics and VLF-EM surveys to follow up on recent discoveries and generate new targets for future drilling. Key highlights of the 2023 exploration program released to date include the following, with additional results to be released in due course:
- Betty Ford exploration diamond drilling intersecting 3.38 g/t Au over 53m in BETFD23D013, 5.03 g/t Au over 25m within 2.96 g/t Au over 46.5m in BETFD23D014, and 5.04 g/t Au over 20.85m in BETFD23D015.
- The Betty Ford 2023 diamond drilling extended the interpreted width of the high-grade gold zone by at least 50%, increased the strike length to 175m and encountered the first occurrences of gold in the Sulphide Domain of the target. The target remains open in multiple directions.
- Vertigo exploration diamond drilling was designed to test a revised structural interpretation including identification of multiple prospective vein sets. Drilling intersected 1.4 g/t Au over 58.4m in JPRVER23D0052 including narrower high-grade subintervals of 9.10 g/t Au over 2.85 m and 6.68 g/t Au over 4.80 m, with multiple occurrences of visible gold within the zones. Newly collected borehole optical televiewer data supports the structural interpretation of multiple mineralized vein sets, with two separate orientations.
- Discovery of prospective 1 km long gold-in-soil anomaly 9 km northwest of the Company’s VG deposit with gold values range from < 0.5 ppb Au to a maximum of 496.7 ppb Au. The gold anomaly is associated with anomalous tellurium and low arsenic in soils, which represents a surface geochemical signature similar to the VG and Golden Saddle deposits. The newly identified east-west trending soil anomaly is open along strike to the east and west beyond the limits of current soil sampling, and infill and extension soil sampling, GT-probe bedrock sampling, and ground magnetics and VLF-EM geophysical surveys are recommended to further advance this new target to drill-ready status.
The Company is currently planning its fully funded 2024 exploration program, focusing on high priority targets with details to be announced in the coming weeks. The Company will also arrange a webinar to provide a more detailed overview of the 2023 exploration results and plans for 2024 at that time.
Upcoming Conferences
The Company plans to attend multiple conferences in 2024, in addition to the conferences already attended, including the conference outlined below. Information on additional conference attendance will be provided as details are confirmed.
OTC Markets Metals & Mining Virtual Investor Conference
The Company will provide a comprehensive corporate update presentation with a live Q&A session, and will participate in one on one meetings. Interested parties are encouraged to register in link below.
Dates: April 30th to May 2nd, 2024
Location: Virtual
https://www.virtualinvestorconferences.com/events/event-details/metals-mining-virtual-investor-conference-11
Invest Yukon Site Tour & Conference
The Company will present and participate in the Invest Yukon’s upcoming conference and site tour. The conference will feature one on one meetings with management, a corporate update presentation, and a site tour of the Company’s flagship White Gold Project. Interested investors and attendees may reach out to ir@whitegoldcorp.ca for registration details and to learn more.
Dates: June 21st to 27th, 2024
Location: Dawson City & Klondike District, Yukon
Vancouver Resource Investment Conference 2024
The Company is pleased to share conference interviews and roundtable discussions from the recent VRIC 2024 conference in January 2024.
Other Matters
The Company announces that a total of 6,550,000 options to purchase common shares of the Company have been granted to directors, officers, employees and consultants at an exercise price of $0.34 per share, expiring on March 11, 2029.
About White Gold Corp.
The Company owns a portfolio of 15,830 quartz claims across 25 properties covering approximately 315,000 hectares representing over 40% of the Yukon’s emerging White Gold District. The Company’s flagship White Gold project hosts four near-surface gold deposits which collectively contain an estimated 1,152,900 ounces of gold in Indicated Resources and 942,400 ounces of gold in Inferred Resources(1). Regional exploration work has also produced several other new discoveries and prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Indicated Resources of 2.14 Moz at 1.23 g/t Au, and Inferred Resources of 0.23 Moz at 1.01 g/t Au(2), and Western Copper and Gold Corporation’s Casino project which has Measured and Indicated Resources of 7.6 Blb Cu and 14.5 Moz Au and Inferred Resources of 3.3 Blb Cu and 6.6 Moz Au(3). For more information visit www.whitegoldcorp.ca.
(1) See White Gold Corp. technical report titled “2023 Technical Report for the White Gold Project, Dawson Range, Yukon, Canada”, Effective Date April 15, 2023, Report Date May 30, 2023, NI 43-101 Compliant Technical Report prepared by Dr. Gilles Arseneau, P.Geo., available on SEDAR+.
(2) See Newmont Corporation 10-K: Annual report for the year ending December 31, 2022, in the Measured, Indicated, and Inferred Resources section, dated February 23, 2023, available on EDGAR. Reserves and resources disclosed in this Form 10-K have been prepared in accordance with the Regulation S-K 1300, and do not indicate NI43-101 compliance.
(3) See Western Copper and Gold Corporation technical report titled “Casino project, Form 43-101F1 Technical Report Feasibility Study, Yukon Canada”, Effective Date June 13, 2022, Issue Date August 8, 2022, NI 43-101 Compliant Technical Report prepared by Daniel Roth, PE, P.Eng., Mike Hester, F Aus IMM, John M. Marek, P.E., Laurie M. Tahija, MMSA-QP, Carl Schulze, P.Geo., Daniel Friedman, P.Eng., Scott Weston, P.Geo., available on SEDAR+.
Qualified Person
Terry Brace, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure of Mineral Projects and has reviewed and approved the content of this news release.
Cautionary Note Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include:
The expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; the receipt of all applicable regulatory approvals for the Offering; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; ongoing uncertainties relating to the COVID-19 pandemic; and those factors described under the heading “Risks Factors” in the Company’s annual information form dated July 29, 2020 available on SEDAR+. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
For Further Information, Please Contact:
Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca
Request Meeting: ir@whitegoldcorp.ca
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