White Metal Receives Government Approval to Begin Exploration Activities on Its Namibian Copper-Silver Properties
White Metal Receives Government Approval to Begin
Exploration Activities on Its Namibian Copper-Silver
Properties
Thunder Bay, Ontario--(Newsfile Corp. - January 7, 2020) -
White Metal Resources Corp. (TSXV: WHM)
("White Metal" or the
"Company") is pleased to announce that it has received from the Namibian Government (Ministry of Environment and Tourism),
the required Environmental Clearance Certificates ("ECC") for Exclusive Prospecting License ("EPL") 7071 (the "Taranis
Property") and EPLs 7028, 7029, and 7030 (the "Altan" or "DorWit Property"), clearing the way for the Company to begin its
exploration programs in Namibia. The Company is planning to complete several geophysical surveys and drilling programs in
the coming months. The Taranis and DorWit properties are held by White Metal's 100% owned Namibian subsidiary companies
Aloe 238 and Aloe 237, respectively (see Company news release dated June 18, 2019).
Michael Stares, Interim President & CEO of the Company, stated, "I am very encouraged to have received the EEC clearance
from the Namibian Government and now we can begin planning the work programs to advance the properties."
The Taranis Property (EPL 7071), covering about 19,850 ha, includes the Okohongo Copper-Silver Deposit ("Okohongo
Project") which has been outlined by historical drilling, showing it extends over 600 metres in strike length, 400 metres down-dip,
and is open in all directions (see INV Metals news release dated August 3, 2011). The Okohongo deposit, 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.
Management of the Company is relying on the Inferred Mineral Resource estimation reported in Table 1 for the Okohongo
Copper-Silver Deposit as it was prepared by expert and qualified authors and used industry standard procedures (NI 43-101) at
that time. This resource estimate is relevant to the Company's future exploration programs as it identifies significant
mineralization that will be the target of future exploration and development.
The DorWit Property (EPLs 7028, 7029, and 7030), subject to a binding letter of intent with RZJ Capital Management LLC (see
Company news release dated October 16, 2019), is located about 150 km east of Windhoek, the capital city of Namibia. The
Property covers about 65 km of prospective stratigraphy on the Namibian portion of the Kalahari Copper Belt, which extends
eastward into Botswana, a region of active copper exploration and development (e.g., Cupric Canyon Capital; Kalahari Metals
Ltd.; MOD Resources Ltd.).
Six historical copper deposits occur within the DorWit Property along with other zones with anomalous copper in historical drill
core intercepts that the Company believes can be expanded upon through further exploration. Historical resource estimates
contained within the Property were published by the Geological Survey of Namibia (Resources of Namibia, 1999) and are
summarized in Table 2.
Table 2. Historical Mineral Resources from the Dordabis-Witvlei areas, Namibia.
Deposit
Tonnes
Cu (%)
Ag (g/t)
EPL
Dordabis98
290,000
1.70
-
7030
200,000
0.50
-
7030
Gemsbokvley214
447,000
1.75
-
7028
Christiadore104
1,200,000
2.27
-
7028
Highlight drill holes: 2.5% Cu over 9m; 2.9% Cu over 7m; 3.7% Cu over 5m
Deposit
Tonnes
Cu (%)
Ag (g/t)
EPL
Okasewa
6,000,000
1.85
7.00
7028
Malachite Pan
2,625,300
1.36
7.47
7029
2,368,400
1.11
6.19
7029
Witvlei Pos
2,850,000
1.52
-
7029
Witvlei Pos*
9,510,000
-
-
-
*global resource tonnage based on 300 m hole spacing and an extrapolated zone.
The Company is treating the tonnages and grades reported in Table 2 as historical mineral resource estimates. These historical
estimates do not use categories that conform to current CIM Definition Standards on Mineral Resources and Mineral Reserves
as outlined in National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101") and have not been
redefined to conform to current CIM Definition Standards. 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 press 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 properties.
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 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) 628-7836 Fax: (807) 475-7200
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/51219