Whitehorse Gold drills 6.2 metres of 8.6 g/t AuEQ, including 2.2 metres of 22.1 g/t AuEQ, at Skukum Gold Project in Yukon
Whitehorse Gold drills 6.2 metres of 8.6 g/t AuEQ, including 2.2 metres
of 22.1 g/t AuEQ, at Skukum Gold Project in Yukon
WHG-NR-21-12 September 9, 2021
Vancouver, British Columbia: Whitehorse Gold Corp. (“Whitehorse Gold” or the “Company”)
(TSXV: WHG) announces initial 2021 drill program results from its wholly -owned Skukum Gold Project
(the “Project”) located in southern Yukon.
Drill Hole Highlights:
• Initial drilling on the Skukum Creek deposit has returned up to 6.2 metres of 8.6 g/t AuEQ (2.5 g/t
Au and 431.8 g/t Ag), including 2.2 metres of 22.1 g/t AuEQ (6.1 g/t Au and 1,142.0 g/t Ag), in hole
SC21-008
• Hole SC21-005 intersected 5.5 metres of 8.3 g/t AuEQ (4.3 g/t Au and 279.9 g/t Ag), including 3.5
metres of 11.0 g/t AuEQ (5.7 g/t Au and 381.9 g/t Ag)
• Hole SC21-009 intersected 2.3 metres of 16.5 g/t AuEQ (4.3 g/t Au and 864.4 g/t Ag), including
1.31 metres of 27.1 g/t AuEQ (7.1 g/t Au and 1,420.0 g/t Ag)
• Three drill rigs are currently testing Skukum Creek and Mt. Skukum deposits
These drill holes (Table 1) focused on filling gaps larger than approximately 50-60 metres between historical
drill hole intercepts on the Rainbow Zone (Figure 1) at the Skukum Creek deposit. The results demonstrate
continuity of the higher-grade gold and silver mineralization and will be used to upgrade resources.
“Our first 2021 drill results successfully confirmed continuity of the gold mineralization in the upper portion
of the Rainbow gold zone along with substantial silver grades, which greatly improves our confidence in the
resource and expected future economics of the Project ,” stated Kevin Weston, CEO of Whitehorse Gold.
“With the three drill rigs testing our Skukum Creek, Goddell and Mt. Skukum deposits, we anticipate a
continual flow of results throughout the rest of this year and are excited at the potential to advance the
Project towards a development path.”
Table 1: Assay results
Hole ID1 From (m) To (m) Interval
(m)2,3
Au
(g/t) Ag (g/t) AuEQ
(g/t)4,5 Pb (%) Zn (%) Zone
SC21-003 28.96 29.57 0.61 2.7 2490.0 37.7 0.26 0.09
Rainbow
Zone
SC21-004 96.00 105.48 9.48 1.4 82.8 2.5 0.3 0.46
Incl. 102.21 103.00 0.79 12.5 506.4 19.6 0.99 1.21
SC21-005
79.65 85.15 5.50 4.3 279.9 8.3 0.56 0.83
Incl. 79.65 83.15 3.50 5.7 381.9 11.0 0.73 0.97
88.18 88.75 0.57 3.9 203.0 6.7 0.59 1.59
SC21-006
78.64 87.57 8.93 2.5 121.0 4.2 0.47 0.82
Incl. 78.64 83.04 4.40 3.8 185.6 6.4 0.69 1.09
Incl. 79.67 81.55 1.88 4.6 184.2 7.2 0.64 1.18
SC21-008 146.23 152.4 6.17 2.5 431.8 8.6 1.08 0.64
Incl. 146.23 148.44 2.21 6.1 1142.0 22.1 2.8 1.32
SC21-009
124.75 127.00 2.25 4.3 864.4 16.5 1.5 1.83
Incl. 125.69 127.00 1.31 7.1 1420.0 27.1 2.43 2.98
133.56 139.88 6.32 1.3 44.2 1.9 0.14 0.2
Incl. 133.56 134.63 1.07 4.7 174.0 7.1 0.33 0.54
Notes:
1. Drill location, elevation, azimuth and dip of drill holes provided in Table 2 below.
2. Length and specific gravity weighted composites.
3. True drill interval lengths are estimated at 70-90% of drilled intervals.
Whitehorse Gold Corp.
1750 - 1066 West Hastings Street
Vancouver, BC, Canada V6E 3X1
Telephone: (604) 336-5919
www.whitehorsegold.ca
Whitehorse Gold Corp. 2 September 9, 2021
NR-21-12 – Continued
4. Formula for AuEQ calculation = Au+(Ag x 0.0141); based on a Long- term Au consensus median
price of US$1,600/oz, a Long-term Ag consensus median price of US$22.50/oz and Au:Ag ratio of
71.11.
5. Assumptions: AuEQ calculation utilizes contained Au and Ag and assumes 100% recovery. Long-
term street consensus commodity prices compiled by BMO Capital Markets.
Whitehorse Gold intends on releasing additional exploration drill results over the forthcoming months .
Table 2: Drill hole details (location, elevation, azimuth and dip) for holes presented in Table 1.
Hole ID Easting Northing Elevation Total Depth Collar Azimuth Collar Dip
SC21-003 478100 6671140 1389 653.8 277.0 -57.0
SC21-004 477901 6671336 1388 130.2 280.9 -45.2
SC21-005 477901 6671336 1388 110.9 299.8 -48.2
SC21-006 477901 6671336 1388 104.7 331.8 -53.3
SC21-008 477920 6671322 1389 294.3 278.4 -48.7
SC21-009 477920 6671322 1389 170.0 289.1 -51.0
Target Generation
The Company has completed a 1,900- line-km airborne geophysical survey (comprised of magnetic,
radiometric, and Very Low Frequency surveys) over the entire 170- square-km Project (see Figure 2).
Results of the geophysics is currently undergoing interpretation and is expected to provide data for new
target generation.
The 2021 surface exploration, mapping and sampling program has also been completed and successfully
identified new zones and occurrences of gold mineralization. Results are forthcoming and will be released
once received from the assay lab.
Geologic, geochemical and alteration data when combined with the airborne magnetic/radiometric/VLF
survey is e xpected to develop a ranked pipeline of targets. Results of the 2021 field work will guide
exploration programs at the Project for 2022 and beyond.
Whitehorse Gold Corp. 3 September 9, 2021
NR-21-12 – Continued
Figure 1: Skukum Creek Deposit long section looking NW (330) showing drill hole traces and intercepts.
Whitehorse Gold Corp. 4 September 9, 2021
NR-21-12 – Continued
Figure 2: Project overview map highlighting the three main deposits and the camp-mill facility
Quality Assurance and Quality Control
Drill core from the Company’s 2021 exploration program was logged and sampled in a secure core storage
facility located at the Project site. Core samples from the 2021 program were cut in half, using a diamond
cutting saw. Drill core and surface samples were sent to ALS Laboratories, which is independent of t he
Company. Sample preparation was performed at the ALS Laboratory in Whitehorse, YT, followed by
analysis at the ALS Laboratory in North Vancouver , BC. ALS is an accredited mineral analysis laboratory.
All samples were analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0
g/t gold were analysed utilizing standard Fire Assay-Gravimetric methods. Samples were also analyzed for
a 48 multielement geochemical suite by ICP -MS with a four -acid digestion. Certified gold reference
standards, blanks, field duplicates and coarse reject duplicates were routinely inserted into the sample
stream, as part of Whitehorse Gold’s quality control/quality assurance program.
Qualified Persons
The technical information contained in this news release has been reviewed and approved by Tim Kingsley,
Vice President of Exploration of Whitehorse Gold and Certified Professional Geologist (CPG -11538) with
the American Institute of Professional Geologists, a Qualified Person for the purposes of National Instrument
43-101 – Standards of Disclosure of Mineral Projects.
Investor Relations Program
The Company also announces that it has retained Jefferson Financial, Inc. (“Jefferson Financial”) to assist
with investor outreach and general market awareness. Jefferson Financial produces investment -oriented
newsletters, special reports and events including the New Orleans Investment Conference.
Whitehorse Gold Corp. 5 September 9, 2021
NR-21-12 – Continued
The Company engaged Jefferson Financial for the distribution of an article written by them in their Golden
Opportunities e-letter for the fee of USD$7,500. The Company may from time to time engage Jefferson
Financial to distribute subsequent articles for similar fees. The Company and Jefferson Financial are at
arm’s length and, to the Company's knowledge, Jefferson Financial does not have any direct interest in the
Company or its securities.
ABOUT WHITEHORSE GOLD CORP.
Whitehorse Gold is a responsible mineral exploration and development company focused on its
170-square-km Project located in southern Yukon, approximately 55 km south- southwest of Whitehorse.
The Project hosts the advanced-stage Skukum Creek and Goddell deposits, and the formerly producing Mt.
Skukum high-grade gold mine, all of which remain open for expansion, plus additional untested mineralized
occurrences. Project infrastructure includes an all -weather access road, a 50-person camp, approximately
6 kms of underground development, and a previously operating 300- tpd mill and associated support
facilities. Underground operations by a previous operator at Mt. Skukum from 1986 to 1988 saw 233,400
tons of ore mined and processed to recover approximately 79,750 ounces of gold.
On Behalf of Whitehorse Gold Corp.
signed “Kevin Weston”
Kevin Weston, CEO & Director
For further information please contact:
Steve Stakiw, Vice President - Corporate Affairs
Phone: 1-604-336-5919
Email: [email protected]
www.whitehorsegold.ca
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 news
release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward- looking statements and forward- looking information (collectively,
“forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation.
All statements, other than statements of historica l fact included in this news release, including, without
limitation, future plans with respect to the Project, including the 2021 work program and resource upgrade
and expansion plans; the success of exploration activities, development potential at the Project, the future
economics of the Project, and other future plans, objectives or expectations of the Company are forward-
looking statements. Forward- looking statements are often, but not always, identified by words or phrases
such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”,
“intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or
variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be
taken, occur or be achieved, or the negative of any of these terms and similar expressions. Forward-looking
statements are based on the opinions, assumptions, factors and estimates considered reasonable at the
date the statements are made. The opinions, assumptions, factors and estimates which may prove to be
incorrect, include, but are not limited to: that the Company will be able to carry on current and future
operations as planned; the timing, extent, duration and economic viability of such operations, including any
mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections,
forecasts, studies and assessments; that market fundamentals will result in sustained prec ious metals
demand and prices; that there are no significant disruptions affecting operations, including labour
disruptions, supply disruptions, power disruptions, security disruptions, damage to or loss of equipment,
whether due to flooding, political changes, title issues, intervention by local landowners, environmental
concerns, pandemics (including COVID -19) or otherwise; that the Company will be able to obtain and
maintain governmental and regulatory approvals, permits and licenses in connection with i ts current and
planned operations, development and exploration activities; that the Company will be able to obtain /
maintain social licence at the Project; that the Company will be able to meet its current and future obligations;
that the Company will be able to comply with environmental, health and safety laws; that the Company will
be able to secure financing on suitable terms; the assumptions underlying mineral resource estimates and
the realization of such estimates ; and other assumptions and factors g enerally associated with the mining
industry.
Whitehorse Gold Corp. 6 September 9, 2021
NR-21-12 – Continued
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 differ materially from any future
results, performance or achievements expressed or implied by the forward- looking statements. Such risks
and other factors include, among others: social and economic impacts of COVID -19; actual exploration
results; changes in project parameters and outcomes as plans continue to be refined; results of future
exploration activities and resource estimates; future metal prices; availability of capital and financing on
acceptable terms; general economic, market or business conditions; risks associated with community
relations and corporate social responsibility; uninsured risks; regulatory changes; defects in title; availability
of personnel, materials and equipment on a timely basis; accidents or equipment breakdowns; delays in
receiving government and regulatory approvals; unanticipated environmental impacts on operations and
costs to remedy same; and other exploration risks or other risks detailed herein and from time to time in the
filings made by the Company with securities regulators. All of the Company’s Canadian public disclosure
filings may be accessed via www.sedar.com and readers are urged to review these materials. Although the
Company has attempted to identify important factors that could cause actual actions, events or resul ts to
differ from those described in forward- looking statements, there may be other factors that cause such
actions, events or results to differ materially from those anticipated. There can be no assurance that forward-
looking statements will prove to be accurate and accordingly readers are cautioned not to place undue
reliance on forward-looking statements.
The Company undertakes no obligation to update any of the forward-looking statements in this news release
or incorporated by reference herein, except as otherwise required by law.