White Metal Drills New Gold Zone Discovery Yielding 82.5 Metres of 1.7 g/t Au, Including 45 Metres of 3.0 g/t Au at the Tower Stock Gold Project, Ontario
White Metal Drills New Gold Zone Discovery
Yielding 82.5 Metres of 1.7 g/t Au, Including 45
Metres of 3.0 g/t Au at the Tower Stock Gold
Project, Ontario
Thunder Bay, Ontario--(Newsfile Corp. - April 20, 2021) -
White Metal Resources Corp. (TSXV:
WHM)
("White Metal" or the "Company") is pleased to report a new gold zone discovery in diamond drill
hole TM-21-94, which returned
1.7 g/t Au over 82.5 metres, including 3 g/t Au over 45 metres.
The
new gold discovery, named the Ellen Zone,
is located about 340 metres south of the U-V Zone and about
300 metres north of the Bench Zone.
The area of the new discovery has seen no historical drilling
and is open in all directions.
The Tower Stock Gold Project (the "Property" or the "Project" or "Tower
Gold"), which until now has not seen any exploration activity for more than eight years, is located about
40 km west-northwest of the port city of Thunder Bay, Ontario and covers approximately 1,968 hectares.
Michael Stares, President and CEO of White Metal, commented, "I am extremely pleased to deliver
these exciting drill results from our first drilling program. This newly discovered gold zone demonstrates
the Project's excellent potential and how we can quickly build on the number of known gold zones within
Tower Gold. With further drilling results expected shortly and final interpretation of the DasVision IP
Survey (
see
Company news release dated February 17, 2021) expected in the coming days, the
Company will soon be in an excellent position to aggressively advance this new discovery along with
testing and expanding a number of other known zones on the Property. I am very confident that our
exploration work will continue to enhance the Property and advance our understanding of the new and
known gold targets within the Tower Mountain Gold Project."
In fall 2020, White Metal personnel prospected the Ellen Zone area, which is largely covered by
overburden, and discovered anomalous gold values in rock grab samples ranging from below detection
(<5 ppb Au) to 1.3 g/t Au. Discovery drill hole TM-21-94 was set up approximately 70 metres west of the
surface rock grab samples and drilled in a northeast direction at a 60 degree dip. The dip and strike of
the Ellen Zone is not precisely known but based on historical data and information, it is thought that the
geology strikes in a north-south direction.
The recently completed Phase 1 (2021) drilling program, comprising 10 holes in 2,480 metres, was
designed to (1) test the depth potential of some of the historical gold showings located throughout the
Property, (2) test for down-dip extensions based on historical drilling, and (3) test new areas discovered
as a result of the fall 2020 prospecting program such as the newly discovered Ellen Zone. Phase 1 drill
holes were also widely spaced, with some as much as 500 metres apart. Further information on the
Tower Stock Gold Project can be found at
www.whitemetalres.com
.
In addition to the new Ellen Zone discovery the Company is also pleased to report on results from a
further six (6) diamond drill holes targeting expansion of historical zones and new target areas
determined from the fall 2020 prospecting program:
TM-21-88 and 89
, located 700 metres to the east of the U-V Zone, these holes were designed to test the
H Zone area in which sampling from the fall 2020 prospecting program outlined gold mineralization over
a strike length of at least 100 metres (
see
Company news release dated December 10, 2020). The two
drill holes intersected strong to moderate potassic alteration within a broad package of volcaniclastics
over the entire length of the drill holes. Given the anomalous gold concentrations encountered in these
drill holes, it is now thought that the H Zone may dip moderately to the southwest and the that the current
drill holes, which were drilled west-southwest, were likely drilled underneath the interpreted moderate-
dipping mineralization. White Metal is planning a stripping program on the H Zone to start in mid-May in
order to obtain a better understanding of the orientation and projection of the H Zone.
TM-21-90
, located at the U-V Zone, was designed to extend the length of historical drill hole TM-04-23,
which was stopped at 300 metres length. By going back down the same hole, White Metal extended this
drill hole a further 154 metres and was able to test the possible down-dip mineralized extension that was
reported in historical drill hole TM-04-24, which returned 70.5 metres at 1.07 g/t Au (from 264.0-334.5
m). Drill hole TM-21-90 successfully intercepted the mineralized gold zone at depth, which assayed 0.9
g/t Au over 16.5 metres, thus extending the known gold mineralization by 50 metres to the southwest and
providing evidence that this zone is still open for expansion.
TM-21-92
was drilled in the area of the 04-36 Zone, located about 400 metres southwest of the U-V
Zone where historical drill hole TM-04-36 returning 25.0 g/t Au over 3.0 metres. The best intersections
returned from TM-21-92 were: 3.0 m at 0.96 g/t Au (from 50.5-53.5 m) and 10.5 m at 0.25 g/t Au (from
61.0-71.5 m). It must be noted that the true control of the higher grade gold is not clearly understood and
more work is needed to help explain the complexity of this zone.
TM-21-93
was designed to test the North Lee Zone which is located 400 metres to the south of the U-V
Zone. This hole encountered various breccias and volcaniclastic rocks with up to 3% disseminated pyrite
and potassic alteration. This drill hole returned two anomalous gold intercepts: 10.5 m at 0.39 g/t Au
(from 8.0-18.5 m) and 57.0 m at 0.23 g/t Au (from 32.0-89.0 m).
The weakly anomalous intercepts from TM-21-93 but especially the 85.0m mineralized intercept from
TM-21-94 suggests there is significant potential that the UV Zone and Bench zones may be connected
and represents a still mostly underexplored area to explore for higher grade zones and continuity of
mineralization between the two zones.
The Company is awaiting assay results for the following three (3) diamond drill holes:
TM-21-95
was drilled to test the extension of historical diamond drill hole TM-03-08 which returned broad
intercepts of anomalous gold. Hole TM-21-95 encountered potassic ± epidote and hematite altered
volcanic rocks and local, narrow micro-syenite, with the lower 110 metres containing 5-10%
disseminated pyrite.
TM-21-96
was designed to test the A Zone where historical trenching by Noranda yielded assay results
such as 6.17 g/t Au over 6 metres and 5.26 g/t Au over 7 metres (see News Release dated October 29,
2020). In addition, historical diamond drilling by Noranda had intercepts such as 16.5 g/t Au over 3 m
which included 30.5 g/t Au over 1 metre. Hole TM-21-96 was orientated to test the depth extension of the
this known gold mineralization. Similar lithologies, alteration and pyrite mineralization to that reported by
Noranda were also observed in this drill hole.
TM-21-97
was designed to test the down-dip extent of the lengthy intercepts of gold mineralization
reported in historical drill holes TM-11-78, TM-11-79, and TM-11-86. Hole TM-21-97 is located on the
west side of the Bench Zone and was orientated to the east-northeast where it also tested the down-dip
extension of the Bench Zone. This hole encountered various volcanic rocks and micro-syenite and of
particular note, an extremely complex 53 metre wide alteration zone containing 5 to 15% pyrite.
A Qualified Person ("QP") has not done sufficient enough work to verify the historical assay results and
technical information reported herein. All drill hole intersections represent drill core lengths (intervals) and
are not true widths.
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.
About White Metal Resources Corp (TSXV: WHM):
White Metal Resources Corp is a junior exploration company exploring
in Canada.
For more information in regards to White Metal Resources Corp. you can visit the company's Web Page
at
www.whitemetalres.com
.
On behalf of the Board of Directors of White Metal Resources Corp.
Michael Stares
President & CEO, Director
For further information contact:
Michael Stares
President & CEO, Director
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 358-2420
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RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS 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
projections.
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