Whitehorse Gold intersects 4.3 metres grading 12.8 grams per tonne gold and 1,825 grams per tonne silver at Skukum Gold Project in Yukon
Whitehorse Gold intersects 4.3 metres grading 12.8 grams per tonne
gold and 1,825 grams per tonne silver at Skukum Gold Project in
Yukon
WHG-NR-22-01 February 17, 2022
Vancouver, British Columbia: Whitehorse Gold Corp. (“Whitehorse Gold” or the “Company”)
(TSXV: WHG) releases results of an additional 7 drill holes, which have intersected significant gold and
silver mineralization at the Skukum Creek Deposit (Figure 1) o n its wholly-owned Skukum Gold Project
(the “Project”), in southern Yukon. The Company is awaiting assay results from the remaining 30 drill holes
from the 2021 exploration program.
Highlights of in-fill and step out drilling results for Rainbow zone (Figure 2) of the Skukum Creek
Deposit:
• Drill hole SC21-021 intersected a 17.5-metre interval (from 307.5 to 325.0 metres) grading 3.92 g/t
Au and 478 g/t Ag, including a 4.31-metre interval of 12.82 g/t Au and 1,825 g/t Ag in the Rainbow
Zone
• Drill hole SC21-023 intersected a 19.0-metre interval (from 370.0 to 389.0 metres) grading 4.37 g/t
Au and 126 g/t Ag, including a 4.95- metre interval of 13.63 g/t Au and 363 g/t Ag in the Rainbow
Zone
Highlights of step out drilling results for Rainbow 2/Berg zone (Figure 3) at the Skukum Creek
Deposit:
• Drill hole SC21-018 intersected a 10.58-metre interval (from 277.73 to 288.31 metres) grading 4.97
g/t Au and 39 g/t Ag in the Rainbow 2 Zone of the Skukum Creek Deposit.
Holes SC21- 021 and SC21- 023 are resource upgrade/infill holes in the Rainbow Zone and are
approximately 17 metres and 22 metres, respectively, from the nearest historic drill holes. T he Rainbow
Zone is the largest of the four main zones (Rainbow, Rainbow 2, Berg and Kuhn) that constitute the Skukum
Creek Deposit.
“Holes SC21-021 and SC21- 023 continue to confirm the high- grade gold and silver mineralization in the
Skukum Creek Deposit,” stated Gordon Neal, CEO of Whitehorse Gold. “These resource upgrade/infill holes
demonstrate mineralization continuity and the resource upgrade potential of the deposit.”
Hole SC21- 018 is a resource expansion/step out hole in the Rainbow 2 Zone and tests the western
extension of the Berg Zone.
Table 1 Summary of Drill Intercepts
Hole ID1 From
(m) To (m) Interval
(m)2,3 Au (g/t) Ag (g/t) AuEq
(g/t)4,5 Zone
SC21-016 515.38 516.30 0.92 9.43 249 12.94 Rainbow
2/Berg
SC21-017 321.65 325.61 3.96 2.63 32 3.08 Rainbow
2/Berg incl. 323.32 325.32 2.00 4.65 52 5.38
SC21-018
277.73 288.31 10.58 4.97 39 5.51 Rainbow 2 incl. 282.55 285.26 2.71 17.22 111 18.78
319.00 338.55 19.55 2.19 18 2.45 Berg
SC21-019 218.00 222.27 4.27 4.15 251 7.68 Rainbow 229.07 235.05 5.98 2.64 176 5.12
Whitehorse Gold Corp.
1750 - 1066 West Hastings Street
Vancouver, BC, Canada V6E 3X1
Telephone: (604) 336-5919
www.whitehorsegold.ca
Whitehorse Gold Corp. 2 February 17, 2022
NR-22-01 – Continued
incl. 233.24 235.05 1.81 5.88 489 12.78
SC21-020 No significant assay intervals
SC21-021 307.50 325.00 17.50 3.92 478 10.66 Rainbow incl. 312.95 317.26 4.31 12.82 1825 38.55
SC21-023 370.00 389.00 19.00 4.37 126 6.14 Rainbow incl. 377.00 381.95 4.95 13.63 363 18.74
Notes:
1. Drill location, elevation, azimuth, and dip are provided in Table 2 below.
2. Composites are length weighted.
3. True width is estimated at 50-70% of drill intercepts.
4. Calculation for AuEq (g/t) = Au (g/t) + [Ag (g/t) x 0.0141], based on the long- term median of the
August 2021 Street Consensus Commodity Price Forecasts by BMO, which are US$1,600/oz for
gold, US$22.50/oz for silver. Au:Ag ratio is 1:71.11.
5. Assumptions: AuEq calculation utilizes in situ contained gold and silver and assumes 100%
recovery.
Figure 1: Plan view of the Skukum Creek Deposit showing main zones, drill hole traces and drill hole collar
locations.
Whitehorse Gold Corp. 3 February 17, 2022
NR-22-01 – Continued
Figure 2: Rainbow zone section showing 2021 reported drill intercepts and historic drill intervals.
Whitehorse Gold Corp. 4 February 17, 2022
NR-22-01 – Continued
Figure 3: Rainbow2/Berg zone section showing 2021 reported drill intercepts and historic drill intervals.
Table 2: Drill hole details for current and historic holes presented in Table 1 and Figures 1, 2 and 3.
Hole ID Length
(m)
UTM
Easting (m)
UTM
Northing (m)
Elevation
(m) Azimuth Dip Level
87-R4 326 477954 6671256 1391 333 -66 Surface
87-UG46R 90 477885 6671331 1301 10 -54 1300 level
R96-214 76 477892 6671321 1221 3 -45 1225 level
SC20-003 493 478102 6671142 1386 310.8 -47 Surface
SC07-118 131.08 477157 6671026 1319 185 -20 1320 level
SC07-120 116.74 477157 6671026 1320 185 20 1320 level
SC07-121 118.26 477157 6671026 1320.5 185 40 1320 level
SC07-122 128.93 477157 6671026 1321 185 50 1320 level
SC07-125 115.52 477157 6671026 1318 200 -20 1320 level
SC21-006 105 477907 6671337 1383 331.8 -53.3 Surface
SC21-015 343.51 477202 6671131 1692 126.8 -52.3 Surface
SC21-016 569.1 477128 6671151 1709 110.4 -45.3 Surface
Whitehorse Gold Corp. 5 February 17, 2022
NR-22-01 – Continued
SC21-017 435.16 477128 6671151 1709 136.3 -45.5 Surface
SC21-018 398.35 477128 6671151 1709 168.2 -47.7 Surface
SC21-019 285.6 478032.12 6671300.30 1347.73 316.5 -52.8 Surface
SC21-020 370.92 478065.56 6671254.48 1356.70 318.5 -55.8 Surface
SC21-021 367.81 478065.29 6671253.47 1356.67 303 -54.8 Surface
SC21-023 456.29 478065.29 6671253.47 1356.67 299 -61 Surface
Management Update
The Company announces the resignation of Tim Kingsley, Vice President Exploration, effective
February 11, 2021, and Steve Stakiw, Vice President Corporate Affairs, effective immediately. Mr. Stakiw
will continue with the Company as a consultant. The company thanks Mr. Kingsley for his service and wishes
him well in future endeavors.
Investor Relations Agreements
The Company announces that it has entered into an agreement with Dig Media Inc. (dba Investing News
Network) (“INN”) pursuant to which INN provid es certain advertising services to the Company. INN will
provide such services until February 17 , 2023. As consideration, the Company has agreed to pay INN a
total fee of $40,000 (plus tax), which will be paid in quarterly installments. Based out of Vanc ouver, British
Columbia, with offices around the globe, INN is an independent firm that provides independent news and
education to investors. To the Company's knowledge, INN does not have any direct interest in the Company
or its securities. The engagement of INN is subject to TSX Venture Exchange approval.
The Company also announces that it has terminated its arrangement with Jefferson Financial, Inc.
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 the
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 scientific and technical information contained in this news release has been reviewed and approved by
Alex Zhang, P. Geo., who is a Qualified Person for the purposes of National Instrument 43-101 — Standards
of Disclosure for Mineral Projects . The Qualified Person has verified the information disclosed herein,
including the sampling, preparation, security and analytical procedures underlying such information, and is
not aware of any significant risks and uncertainties that could be expected to affect the reliability or
confidence in the information discussed herein. Alex Zhang is the Vice President, Exploration of New Pacific
Metals Corp. and independent of the Company.
ABOUT WHITEHORSE GOLD CORP.
Whitehorse Gold is a responsible mineral expl oration 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 (Total Energold
Corporation, 1989).
Whitehorse Gold Corp. 6 February 17, 2022
NR-22-01 – Continued
On Behalf of Whitehorse Gold Corp.
signed “Gordon Neal”
Gordon Neal, CEO & Director
For further information please contact:
Investor Relations, Whitehorse Gold Corp.
Phone: 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 2022 exploration and resource upgrade and
expansion plans, the success of exploration activities, development potential and plans at the Project, the
future economics of the Project, future exploration and drill results from 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 variat ions 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 precious 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 its 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 rea lization of such estimates; and other assumptions and
factors generally associated with the mining industry.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or ac hievements 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 equi pment 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 t he 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 ca use actual actions, events or results to
Whitehorse Gold Corp. 7 February 17, 2022
NR-22-01 – Continued
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.