White Metal Reports Results from Phase 2 Drilling and Discovers Three New Gold Zones at the Tower Stock Gold Project, Ontario
White Metal Reports Results from Phase 2
Drilling and Discovers Three New Gold Zones
at the Tower Stock Gold Project, Ontario
Thunder Bay, Ontario--(Newsfile Corp. - September 23, 2021) -
White Metal Resources Corp.
(
TSXV:
WHM
) (
FRA: CGK1
) (
OTC Pink: TNMLF
)
("White Metal" or the "Company") is pleased to announce
that it has discovered three new gold zones and has assay results for five diamond drill holes from the
Phase 2 drilling program from its Flagship Tower Stock Gold Project (the "Project" or "Property"). The
first new gold zone, named 110 Zone, was drilled to test a high priority DasVision 3D-IP geophysical
target, and the second and third new gold zones, named Star Zone and C & M Zone, were found at
surface as part of the ongoing prospecting and mapping program. The Phase 2 drilling program totalled
3,760 m in 20 drill holes (TM-21-98 to 117) with 11 drill holes reported to date.
Highlights
Successfully extended Bench Zone down-dip to the southwest.
A Zone: 3.94 g/t Au over 23.8 m (from 3.7 m).
New drilling discovery 110 Zone: 0.44 g/t Au over 141.50 m including 1.02 g/t Au over 7.5 m.
New Surface Discoveries
Star Zone: 24 rock grab samples, taken over 450-m-long by 250-m-wide area, ranging from 8 ppb
to 2.83 g/t Au, with 14 of the 24 samples assaying over 0.1 g/t Au.
C & M Zone: two rock grab samples assayed 5.27 g/t and 2.33 g/t Au.
Popa Zone: two rock grab samples, taken over a 10-square-metre area, assayed 3.05 g/t and
2.94 g/t Au.
Michael Stares, President and CEO of White Metal, commented, "We are extremely pleased with the
progress of our exploration to date. Yet again we have demonstrated, through drilling and our ongoing
prospecting and mapping program, that there are still lots of surprises at the Tower Stock Gold Project.
With only one year of exploration on the Property we have made several new discoveries such as the
Ellen and 110 Zones and have expanded the Bench and D Zones. Prospecting, mapping and soil
sampling have proven very effective with a number of additional untested surface areas discovered
including the C & M Zone, Star Zone and Popa Zone. We look forward to receiving the results of the
remaining drill core assays, that includes the extension drilling of the Ellen Zone, the 04-36 Zone, and an
untested IP anomaly in the area to the south of the 04-36 Zone. The Tower Stock Gold Project, unique
due to its excellent location, great infrastructure and impressive geology, has delivered exceptional gold
grades over wide intervals, including some very exciting high-grade gold intercepts."
PHASE 2 DIAMOND DRILLING
The Phase 2 diamond drilling program was completed in mid-September. A summary of the latest
results is provided in Table 1. A summary of previously announced results is provided in Table 2 (
see
news release dated August 24, 2021
).
Table 1. Summary of the latest drill core assay results, Phase 2 diamond drilling.
Hole ID
From (m)
To (m)
*Interval (m)
Au (g/t)
Au (ppb)
Zone
TM-21-101
68.00
138.50
70.50
0.27
271
Between T
& Ellen
incl
71.00
77.00
6.00
0.51
508
TM-21-102
47.00
60.50
13.50
0.73
734
TM-21-103
81.50
129.50
48.00
0.61
607
incl
105.50
116.00
10.50
1.52
1515
TM-21-104
no significant intervals
TM-21-105
188.00
210.50
22.50
0.75
750
Bench
incl
200.00
210.50
10.50
1.11
1110
TM-21-106
80.00
230.00
150.00
0.56
563
incl
171.50
230.00
58.50
1.01
1012
incl
215.00
230.00
15.00
1.74
1741
TM-21-107
143.00
192.50
49.50
0.84
842
incl
143.00
164.00
21.00
1.29
1292
TM-21-108
3.70
59.00
55.40
1.81
1805
A Zone
incl
3.70
27.50
23.80
3.94
3943
incl
8.00
15.50
7.50
8.77
8774
TM-21-110
2.50
54.50
52.00
0.75
754
110 Zone
incl
47.00
54.50
7.50
1.02
1021
*Drill hole intervals are not true widths and are being reported as drill core lengths.
Table 2. Summary of previously released drill core assay results, Phase 2 diamond drilling.
Hole ID
From (m)
To (m)
*Interval (m)
Au (g/t)
Au (ppb)
Zone
TM-21-98
72.50
107.00
34.50
1.11
1111
Ellen
incl
86.00
93.50
7.50
2.33
2326
and
159.50
165.50
6.00
1.02
1023
TM-21-99
no significant intervals
TM-21-100
23.00
113.00
90.00
1.23
1233
incl
23.00
33.50
10.50
3.68
3683
incl
51.50
65.00
13.50
1.56
1557
incl
92.00
113.00
21.00
2.75
2753
*Drill hole intervals are not true widths and are being reported as drill core lengths.
Bench Zone
Holes
TM-21-105,106,107
: three holes designed to test the down-dip extension of the central portion of
the Bench Zone, over a strike length of 150 metres (Figure 1). Successful in extending the zone 40 m to
50 m to the southwest with TM-21-105 and TM-21-106 returning significant widths of gold mineralization
between 150 m and 169.5 m, including a number of zones with >1.0 g/t Au. This includes an as yet
unnamed new zone, about 150 m below surface, intersected by TM-21-106 that returned 1.01 g/t Au over
58.50 m and remains open at depth.
A Zone
Hole
TM-21-108
: designed to test for the east extension of the main A Zone horizon (Figure 1).
Successful in intersecting the zone, returning 3.94 g/t Au over 23.8 m, including 8.77 g/t Au over 7.5 m,
starting from surface (3.7 m). Although the A Zone was previously worked by Inco Limited and Noranda
Exploration Inc., only sparse work and data was reported.
110 Zone
Hole
TM-21-110
: designed to test a high priority DasVision 3D-IP chargeability anomaly, approximately
250 m southeast of the south extent of the Bench Zone (Figure 1). Successful targeting, resulting in the
discovery of a new gold zone. Entire length of the hole (143.0 m) returned anomalous gold (average 0.44
g/t Au) with the main part of the zone returning 0.75 g/t Au over 52.0 m (from 2.5 m), including 1.02 g/t Au
over 7.5 m (from 47.0 m). It should be noted that the style of mineralization in the 110 Zone is unlike any
mineralization found on the Property to date in that it is wholly-hosted within an intrusive monzonite body
with less than 1% pyrite and trace chalcopyrite in quartz-carbonate fractures; the majority of known gold
mineralization is hosted by altered metavolcanic rocks.
Figure 1. Compilation map showing the location of drill hole collars and traces, target IP-Resistivity
anomalies, and approximate locations of known gold zones.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5364/97366_58a28e8e54e76899_004full.jpg
PROSPECTING AND MAPPING
C & M Zone
Located 720 m east of the 110 Zone discovery area, two surface samples from this newly-discovered
zone, collected near one another, returned 2.33 g/t and 5.27 g/t Au (Figure 2). This zone is hosted within
fractured monzonite with less than 1% pyrite and trace chalcopyrite. Its similarity with the 110 Zone
suggests a much larger target region, interpreted to be over 300 m across. The area has very poor
exposure with 95% overburden - drilling is planned for this area.
Star Zone
Located 600 m to the west of the 04-36 Zone, in a previously unmapped area, this newly-discovered
zone hosts widespread gold mineralization with anomalous gold concentrations ranging from 86 ppb to
2.8 g/t Au over a minimum strike length of 400 m and up to 100 m wide (Figure 2). Mineralization is
hosted within an extensive zone of felsic pyroclastic volcanic rocks exhibiting extensive and pervasive
hydrothermal alteration plus well-developed fracturing and deformation. This area of widespread
anomalous gold mineralization shares similarities with the 04-36 Zone and if connected presents an
exploration target with as much as 600 m of strike length.
Popa Zone
Located about 700 m northeast of the eastern edge of the Bench Zone, two rock grab samples, taken
over a 10-square-metre area, assayed 3.05 g/t and 2.94 g/t Au (Figure 2). This zone is hosted within
fractured monzonite with 1%-3% pyrite and located in an area largely covered by overburden. The
Company is currently trenching this area to get a better understanding of the extent and controls on gold
mineralization.
Figure 2. Compilation map showing the location of previously identified and newly-discovered
gold zones, locations of drill hole collars and traces, and gold assay results from rock grab samples.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5364/97366_58a28e8e54e76899_005full.jpg
To view drill hole sections and additional Project information and maps please visit the White Metal
website and slide show at
https://www.whitemetalres.com/tower-stock-au.html
.
A Qualified Person, as described by NI 43-101, has not done sufficient enough work to verify the
historical assay results and technical information reported herein. Rock grab samples are selective
samples by nature and as such are not necessarily representative of mineralization hosted across the
Property.
Sample Analysis
Company QA/QC standards and blanks were inserted into the sample stream for all sample types
(surface rock grab samples and half drill core samples) and submitted for analysis by Activation
Laboratories Ltd. (Actlabs) in Thunder Bay, Ontario. Samples were transported under the direct
supervision of senior White Metal personnel and delivered from the Property to the laboratory receiving
facilities. Samples were analyzed for Au by Fire Assay with an AA finish and Au - Fire Assay with
Gravimetric finish. Actlabs is an independent commercial laboratory that is ISO 9001 certified and ISO
17025 accredited.
Qualified Person
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 NI 43-101.
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 information 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.
684 Squier Street
Thunder Bay, ON P7B 4A8
Phone: +1 (807) 358-2420
Nancy Massicotte
Investor Relations
White Metal Resources Corp.
Phone: +1 (604) 507-3377
TF: +1 (866) 503-3377
Email:
Thomas Do
Investor Relations Manager
CHF Capital Markets
Phone: +1 (416) 868-1079 x 232
Email:
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/97366