Drilling Underway at White Metal's Taranis Copper-Silver Project, Namibia
Drilling Underway at White Metal's Taranis
Copper-Silver Project, Namibia
Thunder Bay, Ontario--(Newsfile Corp. - January 14, 2021) -
White Metal Resources Corp. (TSXV:
WHM)
("White Metal" or the "Company") is pleased to announce that it has begun its first reverse
circulation ("RC") drilling program at its 95% owned Taranis Copper-Silver Project (the "Project" or
"Property"), located in northwestern Namibia and defined by Exclusive Prospecting Licence ("EPL")
7071. The Project includes the historical mineral resources of the Okohongo Copper-Silver Deposit (the
"Okohongo").
Michael Stares, President & CEO of the Company, stated, "The aim of this drilling program is to
generate an NI 43-101 compliant mineral resource estimate and technical report on the Okohongo.
Given the recent rise in copper prices and positive outlook for the metal's future, we are committed to
continuing to advance the Project, which in addition to a copper-silver resource, shows excellent
exploration potential. We are continuing to seek a partner for this Project, while we focus on the
Company's flagship property, the Tower Stock Gold Project, located in northwestern Ontario."
The Company received its Environmental Clearance Certificate ("ECC") for EPL 7071 in January 2020
(
see
news release 7 January 2020) and has recently completed the re-logging of historical RC drill hole
sample chips, and the re-sampling of historical diamond drill core, both stored in the government's
warehouse. In addition to the RC drilling program (3 000 m planned), a reconnaissance geological
mapping and sampling program is planned over the Property. The primary objective of the 2021
exploration program is to update the historical mineral resources in the Okohongo deposit and complete
a mineral resource estimate and technical report compliant with National Instrument 43-101 ("NI 43-
101").
The Taranis Property, covering about 19 850 ha, includes the historical Okohongo Cu-Ag Deposit which
has been outlined by historical drilling (
see
INV Metals news release dated August 3, 2011), showing it
extends over 600 metres in strike length, 400 metres down-dip, and is interpreted to be open in all
directions. The Okohongo, situated within the Kaoko Belt of northwest Namibia about 700 km northwest
of Windhoek, is hosted by metasedimentary stratigraphy and is considered to be analogous with the
stratiform sediment-hosted Central African Copperbelt deposits of Zambia and the Democratic Republic
of the Congo. This deposit contains historical Inferred Mineral Resources of 10.2 million tonnes grading
1.12% Cu and 17.75 g/t Ag, using a 0.3% Cu cut-off (Table 1; INV Metals Inc. NI 43-101 Technical
Report, Effective Date March 31, 2011).
Table 1. Historical Mineral Resources for the Okohongo Copper-Silver Project, Namibia.
Cut-off
Specific
Gravity
Tonnes
Cu (%)
Ag (g/t)
Cu
(tonnes)
Ag
(ounces)
Category
0.0
2.45
11 691 539
1.01
15.85
117 645
5,957,874
Inferred
0.1
2.45
11 682 796
1.01
15.86
117 640
5,957,640
Inferred
0.2
2.45
11 453 414
1.02
16.13
117 219
5,940,047
Inferred
0.3
2.45
10 196 456
1.12
17.75
114 046
5,818,534
Inferred
0.4
2.45
9 535 538
1.17
18.66
111 731
5,719,226
Inferred
0.5
2.45
8 705 239
1.24
19.73
107 993
5,522,454
Inferred
0.6
2.45
8 142 684
1.29
20.50
104 877
5,366,572
Inferred
0.7
2.45
7 366 110
1.35
21.61
99 810
5,116,714
Inferred
0.8
2.45
6 379 793
1.45
23.16
92 402
4,750,190
Inferred
source: NI 43-101 Technical Report on the Okohongo Copper-Silver Property in Northwest Namibia, INV
Metals Inc.; Prepared By: Caracle Creek International Consulting (Pty) Ltd., South Africa, Effective March
31, 2011.
The Company is treating the tonnages and grades reported in Table 1 as historical mineral resources.
The Inferred Mineral Resource estimate reported in Table 1 for the Okohongo Copper-Silver Deposit
was prepared by qualified authors in 2011, conforming to CIM Definition Standards on Mineral
Resources and Mineral Reserves as outlined in National Instrument 43-101, Standards of Disclosure for
Mineral Projects. A Qualified Person has not done sufficient work to classify the historical estimates as
current mineral resources and the Company is not treating the historical estimates as current mineral
resources. Investors are cautioned that the historical estimates do not mean or imply that economic
deposits exist on the properties. The Company has not undertaken any independent investigation of the
historical estimates or other information contained in this news release nor has it independently analyzed
the results of the previous exploration work in order to verify the accuracy of the information. The
Company believes that these historical estimates and other information contained in this news release
are relevant to continuing exploration on the Property.
Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans
(P.Geo.), Vice President Exploration and a Director of White Metal, who is a Qualified Person under the
definitions established by the NI 43-101.
About White Metal Resources Corp (TSXV: WHM):
White Metal Resources Corp. is a junior exploration company exploring in Canada. For more information
please visit the Company's website at
www.whitemetalres.com
.
On behalf of the Board of Directors of White Metal Resources Corp.
"Michael Stares"
Michael Stares
President & CEO, Director
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.
For further information contact:
Michael Stares
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 358-2420
Fax: (807) 475-7200
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/71977