White Metal Provides Update on Drilling at the Tower Stock Gold Project, Ontario
White Metal Provides Update on Drilling at the
Tower Stock Gold Project, Ontario
Thunder Bay, Ontario--(Newsfile Corp. - February 24, 2021) -
White Metal Resources Corp. (TSXV:
WHM)
("White Metal" or the "Company") is pleased to report that three diamond drill holes have now
been completed on the Tower Stock Gold Property. To date, the Company has completed a total of 600
m of core drilling of the planned 4,000 m drilling program. The Tower Stock Project, which 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 consists of 81 Single Cell Mining Claims, 11 Single Cell Boundary Claims,
four freehold land grants or patents, covering about 1 941 hectares.
Michael Stares, President and CEO of White Metal, commented, "I am pleased with the progress to
date and our team has been working hard preparing drill core samples for analysis. We still have
numerous drill targets to test and look forward to reporting drill results as they come in. We are also
eagerly awaiting results and interpretation of the DasVision IP Survey (
see
Company news release
dated February 17, 2021), which we anticipate to be completed late March 2021. We're confident it will
greatly benefit our exploration program in delineating known targets and generating new ones, as well as
assisting in interpretation and modelling of the extensive gold mineralization system which characterizes
the overall Tower Mountain Gold Project."
The first two diamond drill holes were designed to test the H Zone area in which sampling from last fall's
prospecting program outlined gold mineralization over a strike length of at least 100 m (
see
Company
news release dated December 10, 2020). The H Zone drill holes intersected strong to moderate
potassic alteration within a broad package of volcaniclastics over the entire length of the drill holes, with
pyrite mineralization noted over widths up to 50 m. All samples from these two holes have recently been
submitted to Activation Laboratories in Thunder Bay, Ontario.
The third hole is an extension of TM-04-23, a hole drilled by Val Gold in 2004 in the UV Zone, and which
was stopped at 300 m. White Metal has extended this drill hole a further 154 m to test for the possible
down dip extension at 70 m below the U-V Zone, as intersected in historical hole TM-04-24, which
returned 70.5 m (264.0-334.5 m) of 1.07 g/t Au. Core logging shows that mineralization, alteration and
brecciation observed in the extension of TM-04-23 is very similar to the mineralized zone (264.0-334.5
m) noted in TM-04-24.
The Company also announces that the TSX Venture Exchange has excepted the Anderson Property
agreement submittal (
see
Company news release dated February 2, 2021).
A Qualified Person ("QP") has not done sufficient enough work to verify the historical assay results and
technical information reported herein.
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
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
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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