White Metal Announces New Mineral Resource Estimate Containing 7.7Mt at 1.82% CuEq, Using a 0.30% Cu Cut-off, Taranis (Okohongo) Copper-Silver Project, Namibia
White Metal Announces New Mineral Resource Estimate Containing 7.7Mt at 1.82% CuEq,
Using a 0.30% Cu Cut-off, Taranis (Okohongo) Copper-Silver Project, Namibia
Thunder Bay, Ontario, 18 August 2021: White Metal Resources Corp. (TSXV: WHM) (FRA: CGK1)
(OTCMKTS: TNMLF) (“White Metal” or the “Company”) today announced a new Mineral Resource
Estimate on the Okohongo Cu -Ag Deposit located within it 95% owned Taranis (Okohongo) Cu -Ag
Project (the “Project” or “Property”), as defined by Exclusive Prospecti ng Licence (“EPL”) 7071 which
covers about 19,850 hectares and is located in the Kaoko Copperbelt, northwestern Namibia.
Michael Stares, President & CEO of White Metal, stated, “We believe the results from the new Mineral
Resource Estimate demonstrate cor e value of the Okohongo and this resource, coupled with the more
recent exploration work showing very positive copper and silver results both north and south of the
Okohongo, really outline the incredible upside to this Project. We believe there is signifi cant opportunity to
expand the Okohongo along strike, which at this stage of exploration shows potential along a prospective
horizon of more than 20 kilometres. Although White Metal remains focussed on progressing its flagship
project, the Tower Stock Gold Project in Ontario, Canada, the Company will continue to advance the
Okohongo Copper-Silver Project as one of its primary assets.”
Mineral Resource Estimate
White Metal is very pleased to announce a new Mineral Resource Estimate ( “MRE”) for the Taranis
(Okohongo) Cu-Ag Project. A total of 3,226 metres of Reverse Circulation (“RC”) drilling in 28 drill holes
(518 chip samples in resource ) and 781.70 metres of historical diamond drill core in 4 holes ( 63 core
samples in resource) were used to calculate the Mineral Resources in the Inferred category (Table 1 ).
The area covered by the resource is about 740 m (east-west) and 720 m (north-south). Using a cut -off
grade of 0.3 0% Cu and assuming 10% geological loss , the study reported approximately 7.7 million
tonnes grading 1.5 5% Cu and 2 6.77 g/t Ag with a calculated copper equivalent (CuEq) of 1.82% Cu. A
grade-tonnage sensitivity analysis is provided in Table 2. Example cross-sections/ block model views of
the MRE are provided in Figures 1 and 2 , and 3D image of the conceptual open pit and resource is
provided in Figure 1.
The MRE was prepared by Caracle Creek International Consulting MINRES (Pty) Ltd. ( “CCIC MINRES”),
South Africa, in accordance with current CIM Definition Standards on Mineral Resources and Reserves. A
Technical Report in support of the MRE will be filed on SEDAR ( www.sedar.com) within 45 days of this
news release. The MRE is effective as at August 11, 2021.
Table 1. Mineral Resource Estimate Statement for the Okohongo Cu-Ag Deposit, Namibia (0.30% Cu cut-off).
Classification Tonnes5 Cu (%) Ag (g/t) CuEq3 Cu (t) Ag (oz) CuEq (t)
Inferred 7,706,732 1.55 26.77 1.82 119,256 6,634,133 139,891
1. The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43 -101, is Mr. Sivanesan
(Desmond) Subramani (Pri. Sci. Nat - 400184/06), Caracle Creek International Consulting MINRES (Pty) Ltd.
(CCIC MINRES), South Africa. The effective date of the Mineral Resource Estimate is August 11, 2021.
2. These Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The
quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncerta in in nature and
there has been insufficient exploration to define these Inferred Resources as Indicated or Measured, however it is
reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral
Resources with continued exploration.
3. Copper equivalent (CuEq) was calculated using a copper price of US$3.75/lb and a silver price of US$25.00/oz
and applying the formula: CuEq = Cu% + (Ag g/t * 0.01).
4. A cut-off grade of 0.30% Cu was used for the low - and high-grade domains. The cut-off grade was determined on
the basis of core assay geostatistics and drill core lithologies for the deposit, and by comparison to analogous
deposit types.
5. Tonnages are reported applying a geological loss of 10%, to account for unknown geologi cal discontinuities; 10%
is based on experience of other deposits in similar geological settings.
6. Geological and block models for the Mineral Resource Estimate used data from a total of 24 surface reverse
circulation drill holes, completed by White Metal i n January -February 2021, and four re -sampled historical
diamond drill holes (completed by Teck in 2008 and INV Metals in 2 011). The drill hole database was validated
prior to resource estimation and QA/QC checks were made using industry -standard control charts for blanks, RC
chips sample duplicates, and commercial certified reference material (standards and blanks) inserted into assay
batches by White Metal and by comparison of umpire RC chip sample assays performed at a second laboratory.
7. Estimates in Table 1 have been rounded to two significant figures.
8. The Inferred Mineral Resources were constrained by a Lerchs-Grossmann conceptual open pit envelope that was
developed using the following optimization parameters: i) metal p rices of US$3.75/lb copper and $25/oz silver; ii)
an overall pit slope of 55 degrees; iii) bulk mining costs of US$2/t (ore) and US$1/t (waste), derived from other
comparative copper projects in African copper belts; iv) processing costs and G&A estimated at US$7.80/t; and v)
plant recoveries assumed to be 80% copper and 80% silver.
9. The Mineral Resource Estimate was prepared following the CIM Estimation of Mineral Resources & Mineral
Reserves Best Practice Guidelines (November 29, 2019).
10. The geological model as applied to the Mineral R esource Estimate comprises eight Individual wireframes that
were created for each grade domain.
11. The block model was prepared using Datamine Studio RM software. A 50 m x 50 m x 5 m block model was
created and samples were composited at 1.0 m intervals. Grade estimation from drill hole data was carried out for
Cu and Ag using the Ordinary Kriging interpolation method.
12. Grade estimation was validated by comparison of input and output statistics, swath plot analysis, and by visual
inspection of the assay data, block model, and grade shells in cross-sections.
13. The applied average specific gravity (2.4 5 t/m3) was determined on the basis of CCIC MINRES’s in-house library
of SG and bulk density measurements from similar deposits in the African copper belts.
Table 2. Grade-Tonnage sensitivity analysis for the Okohongo Cu-Ag Deposit, Namibia.
Cut-off
(%Cu)
Original
Tonnes
Adjusted
Tonnes5 SG Cu
(%)
Ag
(g/t) CuEq3 Cu Metal
(t)
Ag Metal
(oz)
CuEq
Metal (t)
0.0 8,647,675 7,782,908 2.45 1.53 26.54 1.80 119,459 6,641,266 140,115
0.1 8,647,675 7,782,908 2.45 1.53 26.54 1.80 119,459 6,641,266 140,115
0.2 8,647,675 7,782,908 2.45 1.53 26.54 1.80 119,459 6,641,266 140,115
0.3 8,563,035 7,706,732 2.45 1.55 26.77 1.82 119,256 6,634,133 139,891
0.4 7,729,289 6,956,360 2.45 1.68 29.09 1.97 116,681 6,506,902 136,920
0.5 7,631,602 6,868,442 2.45 1.69 29.40 1.99 116,320 6,491,169 136,510
0.6 7,602,738 6,842,464 2.45 1.70 29.44 1.99 116,182 6,476,379 136,326
0.7 7,435,124 6,691,612 2.45 1.72 29.71 2.02 115,197 6,392,448 135,080
0.8 7,083,401 6,375,061 2.45 1.77 30.31 2.07 112,772 6,212,486 132,095
Figure 1: Cross-section (looking north) through the middle region of the Okohongo Cu -Ag Deposit (see
inset plan map) showing the copper gr ade distribution in the block model and locations of five RC drill
holes completed by the Company (OK20 series) and one re -sampled historical diamond drill hole (TCD
series) (coordinate system: WGS84 Z33S).
Figure 2: Cross-section (looking east) through the middle region of the Okohongo Cu -Ag Deposit (see
inset plan map) showing the copper grade distribution in the block model and locations of four RC drill
holes completed by the Company (OK20 series) (coordinate system: WGS84 Z33S).
Figure 3: Lerchs-Grossmann conceptual pit shell (shaded orange) constraining the Inferred Mineral
Resource Estimate (oblique section looking down and north-northwest). The conceptual pit shell opening
is about 950 m in length, 615 m in width, and extends to a depth of about 200 m below surface. The
deeper, down-dip mineral resources that fall outside of the pit envelope amount to approximately 3% of
the total mineral resources inventory calculated.
Additional figures and information about the Mineral Resource Estimate and recent results from the
copper exploration programs at Okohongo can be viewed on the Company’s website
(https://www.whitemetalres.com/taranis-okohongo-cu-ag.html).
Assays, Quality Assurance/Quality Control and Assay Procedures
Mr. Nico Scholtz was responsible a Qualified Person as defined by NI 43 -101 (Pri. Sci. Nat – 400299/07),
was responsible for the RC drilling and sampling program, including quality assurance ( “QA”) and quality
control ( “QC”). The RC chip samples were collected from drill using a 3 tier riffle splitter , to split the
sample and represented chip samples were collected and logged on site. Samples w ere taken at 1 metre
intervals. Samples were securely transported to the Activation Laboratories Ltd. (“Actlabs”) preparation
lab in Windhoek, Namibia.
A Quality Control/Quality Assurance ( “QA/QC”) program consisting of the regular insertion of Certified
Reference Material (“CRM”) copper standards and blanks into the sample stream by the Company was in
place as was the industry standard internal QA/QC practices used by Actlabs. A CRM copper standard
was inserted approx. every 20 samples, a control blank wa s inserted every 15 samples and a duplicate
taken every 30 samples. A total of 24 duplicate chip samples were analysed at referee lab ALS Global, an
ISO/IEC 7025 accredited lab, based in Johannesburg, South Africa.
Once prepared, Actlabs in Windhoek, Nami bia sent the sample pulps directly to Actlabs in Ancaster,
Ontario, Canada for analyses. Actlabs is an ISO/IEC 7025 accredited lab and is independent of White
Metal. The samples were first analysed with 4 -Acid “Near Total” Digestion (1F2) with ICP -OES finish for
Ag, Cu and a suite of 33 other elements. Subsequently, samples with Ag greater than 100 ppm (above Ag
upper detection limit) were analysed with Fire Assay Gravimetric (8 -Ag) and Cu greater than 10,000 ppm
(above Cu upper detection limit) were analys ed with sodium peroxide fusion with I CP-OES finish (8 -
Peroxide ICP). Wet sample was transported to the lab without splitting, dried at the Actlabs facility in
Windhoek and split afterwards.
Qualified Persons and Data Verification
The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43 -101, is Mr.
Sivanesan ( Desmond) Subramani (Pri. Sci. Nat - 400184/06), Caracle Creek International Consulting
MINRES (Pty) Ltd. (CCIC MINRES), South Africa. Dr. Scott Jobin -Bevans (P.Geo., APGO #0183), a
Qualified Person as defined by NI 43 -101 and a Director and VP Exploration for White Metal, has
reviewed and approved all of the scientific and technical content of this news release.
About White Metal Resources Corp:
White Metal Resources Corp . is a junior exploration company exploring in Canada and southern Africa.
The company’s two key properties are the Flagship Tower Stock Gold Project in Thunder Bay, Ontario,
Canada and the Okohongo Copper -Silver Project in Namibia, Africa. For more inform ation about the
Company please visit www.whitemetalres.com.
On behalf of the Board of Directors
"Michael Stares"
President & CEO
For further information contact:
Michael Stares
President & CEO
White Metal Resources Corp.
Phone: +1 (807) 358-2420
Nancy Massicotte
Investor Relations
White Metal Resources Corp.
Phone: +1 (604) 507-3377
TF: +1 (866) 503-3377
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and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates
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