White Metal Starts Aggressive Channel Sampling Program at the Gunners Cove Gold Project
White Metal Starts Aggressive Channel Sampling
Program at the Gunners Cove Gold Project
Thunder Bay, Ontario--(Newsfile Corp. - August 24, 2018) -
W
hite Metal Resources Corp. (TSX
V: WHM)
("White Metal" or
the "Company") is pleased to announce that an important channel sampling program has begun on 7 priority targets on its
Gunners Cove Gold Property (the "Property") in Newfoundland. To date, 120 channel samples have been submitted to Eastern
Analytical Laboratories in Springdale, Newfoundland, and a further 300 samples are expected to be taken in the coming weeks.
The seven priority targets that will be channel sampled include the Thompson Zone, the East and West Gunners Pit (discovery
pit), and the Hidden Pit, also located in the Gunners Pit area. Also included in the program are the Stephens Zone, the Totem
Zone, and the Bazooka Zone (see White Metal News Release dated July 3, 2018). Grab samples taken across strike at the
Bazooka Zone area yielded anomalous gold concentrations over 1000 metres across strike.
Technical personnel for the Company have designed the channel sampling program as the best way to properly evaluate the
gold tenure and continuity on the various gold zones, as well as assist in the delineation of targets for a future diamond drilling
program.
The Gunners Cove Gold Project is a new unexplored gold system that has now been traced intermittently for 18km along strike
(N-S) and from 1.3 to 3.0km in width (E-W).
To date, 15 new areas of gold mineralization have been discovered of which seven
have been identified as high priority targets.
Since the initial gold discovery in September 2017, the Company has had excellent success not only in making new discoveries,
but extending the area of gold mineralization substantially at the Gunners Cove Gold Project.
Evaluation of the geological
controls of the known gold mineralization can be summarized as follows:
Anomalous and moderate grade gold assays are associated with 2% to 10% pyrite nodules, discontinuous stringers,
fragments and cubic crystals.
The gold zones are hosted in a geological distinctive unit of chaotic, multi-lithic breccia with a predominately graphitic and
mudstone matrix.
This unit is associated with regional thrust faulting and referred to as a melange.
The higher pyrite content appears to be associated with well-foliated (sheared) graphitic melange.
This melange can be mapped over horizontal widths of up to 1.3km, however the full extent of the melange is not
understood at this time.
The unit appears to be located at the base of a sedimentary-ultramfic package and has been
extended as a discontinuous unit over an area measuring approximately 18km by 3km.
Anomalous silver, copper and molybdenum are also associated with the gold mineralization.
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 with respect to to the Gunners Cove Gold Property, please visit the Company's Web Page at
www.whitemetalres.com
.
About White Metal Resources Corp (TSXV: WHM):
White Metal Resources Corp. is a junior mineral exploration company exploring for gold in Canada.
On behalf of the Board of Directors of White Metal Resources Corp.
"Jean-Pierre Colin"
Jean-Pierre Colin, President, CEO and Director
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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