White Metal Completes Second Exploration Programme at Gunners Cove Gold Property, Newfoundland
White Metal Completes Second Exploration Programme
at Gunners Cove Gold Property, Newfoundland
Thunder Bay, Ontario--(Newsfile Corp. - June 22, 2018) -
White Metal Resources Corp. (TSXV: WHM)
("White Metal" or the
"Company") is pleased to announce that it has completed a second work programme on the Gunners Cove Gold Project (the
"Property") located on the Northern Peninsula near St Anthony, Newfoundland. The programme included follow-up prospecting,
geological mapping and grab sampling in the previously identified East and West Gunner zones, the Mossberg Zone and the
Cooey Zone. New prospecting and sampling was completed over the Northern and Southern areas of the Property and several
new prospective zones were identified (see Map entitled Gunners Cove Prospecting 2018 on the Company's web site). The new
zones are described as being hosted by or associated with a melange (large-scale brecciated sedimentary rocks) and, in some
cases, mineralization has been traced across strike up to 1 km. Grab samples taken from two (2) of the new zones, Area A and
Area D on the Gunners Cove Prospecting 2018 Map, are described by the prospecting team as having semi-massive to
massive sulfides with pyrite and pyrrhotite, and trace chalcopyrite. Mineralization observed in the other new zones includes pyrite
occurring as cubes, nodules and stingers. A total of 220 grab samples have been sent to Eastern Analytical laboratory in
Springdale, Newfoundland, for gold, base metal and multi-element analyses. The Company is very enthusiastic about the current
programme and expects to have assay results within the next four (4) weeks.
Gold was initially discovered in the Gunners Cove area in September 2017 (see news release dated September 25, 2017), and
was followed up by initial sampling (see news release dated November 20, 2017) which outlined a large area (approximately 15
sq-km) of anomalous gold and other metals associated with pyrite-nodules and pyrite stringers, and hosted by black shale. This
initial area of discovery and prospecting has been expanded by the recent programme.
In Fall 2017, 133 surface grab samples were collected from the then known 10 mineralized zones on the Property. The
distribution of the samples containing anomalous gold values define an area roughly 5 km x 3 km. Approximately 50% of the
grab samples collected in the Gunners Cove area assayed 100 ppb Au (0.1 g/t Au) or greater, with a maximum of 5.9 g/t Au
(Mossberg Zone). Silver assay results are also elevated, ranging from less than 1 ppm Ag to a maximum of 9.1 g/t Ag (Cooey
Zone). Note that
grab samples are selective by nature and are unlikely to be representative of average grades.
Work to date at the Gunners Cove Property has highlighted a large area of anomalous gold values and recent work has
extended the discovery area substantially. Historically, the Gunners Cove Property has seen very little exploration work and the
Company believes that this is a recent prospecting discovery, adding to its importance.
Precious and base metal mineralization
is associated with, and appears to be largely hosted by, pyritic nodules and stringers accompanied by minor silicification and
local brecciation, and hosted by an extensive black shale unit and/or melange.
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 National Instrument
43-101.
For more information in regards to the Gunners Cove Property you can visit the company's Web Page at
www.whitemetalres.com
.
About White Metal Resources Corp
(TSXV: WHM):
White Metal Resources Corp is a junior exploration company exploring in Canada and currently has 39,855,240 common shares
issued and outstanding.
On behalf of the Board of Directors of White Metal Resources Corp.
"Michael Stares"
Michael Stares, 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 NEWS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities
legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of
future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be
"forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to
differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain
adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political
and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks
related to environmental regulation and liability; the potential for delays in exploration or development activities or the
completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill
results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost
estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the
possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks
related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's
prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these
risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from
those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking
statements.
These forward
-
looking statements are made as of the date hereof and the Company does not assume any
obligation to update or revise them to reflect new events or circumstances.
Actual events or results could differ materially
from the Company
's expectations or projection
For further information contact:
Michael Stares
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836
Fax (807) 475 7200