TORONTO, ONTARIO–(Marketwired – June 5, 2017) –
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
White Gold Corp. (TSX VENTURE:WGO) (the “Company”) is pleased to announce that it has commenced the initial RAB drilling programs on the Dime and Loonie properties. An estimated 50 to 60 drill holes, representing approximately 5,000 to 6,000 meters of drilling are planned between the two properties. These drill holes comprise the first phase of a three phase drilling program planned over 6 properties by the Company in 2017.
The drilling programs on both the Loonie and Dime properties will be managed by Dawson City, Yukon based Ground Truth Exploration and will utilize their track mounted RAB drills. The drills are designed to evaluate targets for potential, near surface mineralization at a lower cost and reduced environmental impact compared to other drilling techniques previously utilized in the White Gold district. Additionally, the programs will utilize on-site XRF analysis and downhole optical televiewer surveys paired with 3D modelling software for daily geologic, geochemical and structural interpretation to guide the drill programs. Follow up diamond and/or RC programs will be planned contingent upon exploration results.
The Dime and Loonie programs are planned to last approximately 4 weeks. Following these programs, the RAB drills will mobilize to the Nolan and IND targets and details of those programs and initial RAB drilling results from the Loonie and Dime projects will be provided in due course.
Details of the Phase 1 drilling programs are summarized below:
Loonie Property
The 2017 drilling program on the Loonie Property will consist of 25 to 30 RAB drill holes testing over 700m of strike length and up to 100m depth along the Lira trend.
The Loonie Property is located 50km south of Dawson City, Yukon and consists of 499 claims covering approximately 98,900 hectares. 2017 RAB drilling on the Loonie property will focus on the Lira target, an approximately 75m x 740m, zone of anomalous gold in soils associated with an E-NE trending shear zone(s). Mineralization along the zone is associated with strongly quartz-sericite-clay altered and brecciated felsic orthogenesis with quartz veining, disseminated pyrite, and locally visible gold. Grab samples performed by the Company in the area have returned grades from trace up to 110.1 g/t gold. Historic RAB drilling on the target returned grades from trace up to 20.7 g/t gold, which included 12.2m of 4.93 g/t Au from LOORAB14-01 (see the Company’s News Release dated January 23, 2017 for more information).
Dime Property
The 2017 drilling program on the Dime Property will consist of 25 to 30 RAB drill holes testing over 350m of strike length and up to 100m depth along both of the Gemini soil anomalies. Additional work on the property will include airborne DIGHEM surveys, soil sampling, geologic mapping/prospecting, DC IP-Resistivity surveys, and GT Probe sampling on other target areas to advance them to drill ready status.
The Dime property is located 65km south-southwest of Dawson City Yukon and consists of 245 claims covering approximately 5,014 hectares. 2017 RAB drilling will focus on the Gemini target which consists of two approximately 325m x 200m, north-northeast trending, gold in soil anomalies with values from trace up to 919 ppb Au that are associated with strongly anomalous arsenic (>100 ppm As). Mineralization in the area is associated with strongly sericite altered meta-sediments and fine grained meta-intrusive rocks with zones of quartz veining, brecciation, and disseminated, oxidized, sulfides that appear to be associated with a series of N-NE trending, moderately west dipping, faults that are interpreted as 2nd-3rd order splays of a regional scale east-west fault that transects the property. Structurally and geochemically, the property shares strong similarities to Goldcorp’s Coffee project, 75km to the southeast. (see the Company’s News Release dated April 25, 2017 for more information).
In addition to the RAB drilling, exploration activities currently underway include:
- Airborne Dighem surveys on the Bonanza, IND, Nolan, Toonie, Loonie, Dime, Black Hills, Pedlar, and Betty properties.
- IP-Resistivity surveys on the IND and Dime properties, with additional work planned on the Nolan, Black Hills, Brew, and Wolf properties.
- Drone surveys on the IND, Loonie, Dime, and Nolan properties, with additional work planned on the Black Hills, Brew, Hayes, Wolf, and Pilot properties among others.
Initial soil and GT Probe surveys are also anticipated to commence within the next week.
The Company encourages individuals interested in the Company to visit its website (www.whitegoldcorp.ca) to further understand the size and scope of the Company’s projects in the White Gold District.
The analytical work for the 2017 program will be performed by Bureau Veritas Commodities Canada Ltd., an internationally recognized analytical services provider, at its Vancouver, British Columbia laboratory. Sample preparation will be carried out at its Whitehorse, Yukon facility. All soil samples will prepared using procedure SS80 (dry at 60 C and sieve 100g at -80 mesh) and analyzed by method AQ201 (aqua regia digestion and ICP-MS analysis). All rock, GT Probe, and RAB samples will be prepared using procedure PRP70-250 (crush, split and pulverize 250 g to 200 mesh) and analyzed by method FA430 (30g fire assay with AAS finish) and AQ200 (0.5g, aqua regia digestion and ICP-MS analysis). Samples containing <10g/t Au will be reanalyzed using method FA530 (30g Fire Assay with gravimetric finish). Metallic-screen analysis may also be utilized if coarse gold mineralization is encounter (FS600).
Jodie Gibson, PGeo, of GroundTruth Exploration Inc. has acted as the qualified person under National Instrument 43-101, and has reviewed and approved the content of this news release. GroundTruth Exploration Inc. is owned by the spouse of a director of the Company. Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource on any of the Company’s properties to date, and it is uncertain if further exploration will result in any such target being delineated as a mineral resource.
Ground Truth Exploration Inc., Dawson City, YT, designed and managed all work for the Company. The reported work was completed using industry standard procedures, including a quality assurance/quality control (QA/QC) program consisting of the insertion of certified standards, blanks, and field duplicates into the sample stream. The qualified person detected no significant QA/QC issues during review of the data.
About White Gold Corp.
White Gold Corp. owns a portfolio of 15,258 quartz claims across 25 properties covering approximately 305,440 hectares representing approximately 30% of the Yukon’s White Gold District. Preliminary exploration work has produced several prospective targets. The claim packages are bordered by sizable gold discoveries owned by majors. The Company has outlined an aggressive exploration plan to further explore its properties. For more information visit www.whitegoldcorp.ca.
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the current or historical soil sampling results, future results of operations, performance and achievements of the Company, future exploration activities and programs, including results thereof and advancement of the Company’s properties. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by the Company in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include that fact that soil sampling results are preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit, mineral exploration involves a high degree of risk and is highly speculative in nature, few properties that are explored are ultimately developed into producing mines, geological factors, the actual results and timing of current and proposed future exploration programs, changes in project parameters as plans continue to be evaluated, as well as those factors described under the heading “Risks and Uncertainties” in the Company’s most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
David D’Onofrio
Chief Executive Officer
(416) 643-3880
ddonofrio@whitegoldcorp.ca