White Gold Corp. Commences 17,000m Diamond Drill Program on the JP Ross and White Gold Properties
White Gold Corp. Commences 17,000m Diamond Drill Program on the JP Ross
and White Gold Properties
TORONTO, June 19, 2019 -- White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W ) (the "Company") is
pleased to announce it has commenced its 2019 diamond drill program on two of its highest priority properties: the JP Ross
and White Gold properties. The diamond drill program is a central component of the Company’s $13 million fully funded 2019
exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX:
K, NYSE: KGC).
Highlights Include:
• 10,000m of diamond drilling on the JP Ross property focused on the Vertigo target. The 2019 diamond drill program will
focus on evaluating the geometry as well as the lateral and vertical continuity of the high-grade mineralized structures
discovered in 2018.
• The Vertigo program represents initial diamond drill testing of the Vertigo discovery which produced several high-grade,
near surface Reverse Circulation (“RC”) drill intercepts in 2018 including 22.47 g/t Au over 30.46m from surface, as well
as high-grade grab samples including 304.3 g/t, 156.2 g/t, 139.9 g/t, 135.6 g/t and 132.9g/t Au.
• 6,000m of diamond drilling on the White Gold property focused on the Golden Saddle, GS West and Arc deposits.
• The program will focus on expansion of current deposits which include an Indicated Mineral Resource of 1,039,600 oz
Au within 14,330,000 tonnes at 2.26 g/t gold and an Inferred Mineral Resource of 508,700 oz Au within 10,696,000
tonnes at 1.48 g/t gold.
• 1,000m of diamond drilling on the VG Deposit which hosts a historic Inferred Resource of 230,000 oz Au.
Images to accompany this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
“We are very excited to have initiated our 2019 diamond drilling program on some of our highest priority targets, including the
Vertigo, White Gold and VG to follow up on our success in 2018,” stated David D’Onofrio, Chief Executive Officer. “The goal of
this diamond drill program is threefold: to continue to expand Golden Saddle/Arc’s established resources, to follow up on JP
Ross’s exciting high grade Vertigo discovery last season and to grow the recently acquired and underexplored VG Deposit.
We have also commenced the regional exploration program across our extensive land package, focused on generating a
strong pipeline of discoveries and resource growth.”
JP Ross Property – Vertigo Target
A Phase 1 program consisting of 10,000m of diamond drilling on the Vertigo target will focus on defining the geometry of
mineralized structures along trend, and evaluating the lateral and vertical continuity of the mineralization. This includes
evaluation of the target across the currently defined width of the zone and up to 500m of strike length along the core of the
system.
The Vertigo target on the JP Ross property is comprised of 2,850 quartz claims covering over 57,000 hectares with at least 14
defined target areas and numerous placer gold bearing creeks. Previously announced drill results on the Vertigo target range
from trace to 22.47 g/t Au over 30.46m from surface (JPRVERRAB18-014/JPRVERRC18-013), 56.25 g/t Au over 3.05m from
3.05m depth, within a broader intercept of 17.34 g/t Au over 10.67m, (JPRVERRAB18-001) and 45.00 g/t Au over 3.05m from
1.52m depth, within a broader intercept of 9.65 g/t Au over 15.24m (JPRVERRAB18-011). Additional exploration in the area
also encountered multiple high-grade grab samples including 304.3 g/t, 156.2 g/t, 139.9 g/t, 135.6 g/t and 132.9g/t Au, defining
a strike length of approximately 2.2km on the Vertigo target along a larger 18km mineralized trend. The Vertigo Target is
located approximately 25km north of the Company’s flagship White Gold property and is within 2km of an existing road
accessible from Dawson City.
To date, at least 12 mineralized structures are recognized on the Vertigo target over a 2,200m x 650m area, and consist of W-
NW trending, steeply dipping zones of quartz veining, brecciation, and fracture-controlled mineralization with disseminated to
vein-controlled pyrite-arsenopyrite-galena and locally, visible gold mineralization.
White Gold Property – Golden Saddle/GS West and Arc
A Phase 1 program consisting of 6,000m of diamond drilling is planned for the Golden Saddle and Arc deposits. At the Golden
Saddle, drilling will focus on expansion of the GS West zone, both along strike and down-dip. Limited historic drilling has
occurred between the GS West and the GS Main and one of the Company’s key objectives for the 2019 season will be to
expand this zone and explore the potential continuity between the two zones. Drilling will also be conducted on the GS Main
and GS Footwall and will focus on infilling gaps in the current model; particularly the high-grade core. Included in this high-
grade core is 525,600 gold ounces at a grade of 4.68 g/t gold in the Indicated category and 81,900 gold ounces at a grade of
4.74 g/t gold Inferred using a >3 g/t cut-off. Drilling activity on the Arc will focus on expansion of the deposit along strike, and
targeted infill drilling to evaluate continuity on higher grade (>2g/t Au) areas within the model. Numerous other targets are
known on the property and additional drilling may be conducted in these areas as warranted.
The White Gold Property is located 25km south of the JP Ross – Vertigo target and is host to the Golden Saddle and Arc
deposits. The Company recently announced an updated mineral resource estimate (1) on the deposits consisting of an
Indicated Mineral Resource of 1,039,600 gold ounces within 14,330,000 tonnes at 2.26 g/t gold and an Inferred Mineral
Resource of 508,700 gold ounces within 10,696,000 tonnes at 1.48 g/t gold representing an increase of 25% based on 2018
exploration activity.
Approximately 86% of the resource is within the Golden Saddle which consists of three NE trending, NW dipping, zones of
mineralization (GS Main, GS Footwall, & GS West) occurring along faults, fractures, and breccia zones in an overall normal to
strike-slip structural regime. Together, the zones define mineralization over 1,500m strike length and from surface up to 725m
down dip. This includes a continuous high-grade core of mineralization >3 g/t Au on the GS Main that is up to 50m true-
thickness and traceable over 500m of strike length and from surface up to 530m down-dip. The GS West, a new discovery in
2018 and contributing an estimated 62,500 oz Au (1,339,000 tonnes at 1.45 g/t Au) to the resource, is located approximately
750m west of the GS Main and is interpreted as a western continuation of the Golden Saddle structural system.
The Arc is located approximately 400m south of the Golden Saddle and consists of two zones, the Arc Main and Arc Footwall
zones. Both zones trend E-NE and dip to the north at approximately 50 degrees. Mineralization at the Arc has been defined,
through limited drilling, over 1,200m in strike length and up to 450m down dip with mineralization open along strike and down
dip.
(1) See Company news release dated June 10, 2019, available on SEDAR.
QV Property – VG Zone
Included in the Company’s regional program is 1,000m of diamond drilling focused on testing strike extensions of the
historically underexplored VG resource located on the QV property, recently acquired from Comstock Metals.
Large portions of the property remain unexplored, which leaves a strong potential for the discovery of additional zones of
structurally-controlled and/or intrusion-related mineralization, with several currently unexplored known targets with similar
characteristics to the Golden Saddle and Vertigo. Approximately 4,300m of diamond drilling over 23 holes has been
conducted on the VG to date. Of these, only 17 diamond drill holes formed the basis of a 2014 maiden resource estimate (2) of
230,000 oz of gold (4.4 million tonnes grading 1.65 g/t Au) in the Inferred category at a cut-off of 0.5 g/t Au.
The VG resource is open along strike and at depth, and has similar mineralization and structural control to the nearby Golden
Saddle deposit. The QV property is 16,335 hectares (40,000 acres) and contiguous to the Company's White Gold property
which hosts its Golden Saddle and Arc deposits, 20 km southwest of the Vertigo discovery on its JP Ross property and 44 km
northwest of Newmont Goldcorp Corporation's Coffee project. The resource and property were acquired by White Gold Corp
from Comstock Metals in early 2019.
(2) See Comstock Metals Ltd. technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August
19, 2014, available on SEDAR.
QA/QC
The analytical work for the 2019 drilling program will be performed by ALS Canada Ltd. an internationally recognized analytical
services provider, at its Vancouver, British Columbia laboratory. Sample preparation was carried out at its Whitehorse, Yukon
facility. All RC chip and diamond core samples will be prepared using procedure PREP-31H (crush 90% less than 2mm, riffle
split off 500g, pulverize split to better than 85% passing 75 microns) and analyzed by method Au-AA23 (30g fire assay with
AAS finish) and ME-ICP41 (0.5g, aqua regia digestion and ICP-AES analysis). Samples containing >10g/t Au will be
reanalyzed using method Au-GRAV21 (30g Fire Assay with gravimetric finish).
The reported work will be completed using industry standard procedures, including a quality assurance/quality control
(“QA/QC”) program consisting of the insertion of certified standard, blanks and duplicates into the sample stream.
About White Gold Corp.
The Company owns a portfolio of 22,040 quartz claims across 35 properties covering over 439,000 hectares representing over
40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 1,039,600
ounces Indicated at 2.26 g/t Au and 508,700 ounces Inferred at 1.48 g/t Au. Mineralization on the Golden Saddle and Arc is
also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several
other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project
owned by Goldcorp Inc. with a M&I gold resource (3) of 3.4M oz and Western Copper and Gold Corporation’s Casino project
which has P&P gold reserves(3) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.
(3) Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the
mineralization hosted on the Company’s property.
Qualified Person
Jodie Gibson, P.Geo., Vice President of Exploration for the Company is a “qualified person” as defined under National
Instrument 43-101 Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news
release.
Cautionary Note Regarding Forward Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking
statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of
historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this
news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not
expect", "is expected", "anticipates" or "does not anticipate", "plans", “proposed”, "budget", "scheduled", "forecasts",
"estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results
"may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be
forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s
objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future
growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will
be successful; exploration results; and future exploration plans and costs and financing availability.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at
the time such statements were made. Actual future results may differ materially as forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the
Company to materially differ from any future results, performance or achievements expressed or implied by such forward-
looking statements. Such factors, among other things, include: expected benefits to the Company relating to exploration
conducted and proposed to be conducted at the Company’s properties; failure to identify any additional mineral resources or
significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs
of financing needed in the future, including to fund any exploration programs on the Company’s properties; business
integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot
and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the
Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls,
regulations and political or economic developments; risks and hazards associated with the business of mineral exploration,
development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures,
cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations
that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local
communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the
speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and
approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into
producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans
continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of
a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and
analysis of the Company. Although the forward-looking statements contained in this news release are based upon what
management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure
shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that
cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward
-looking statements and information. There can be no assurance that forward-looking information, or the material factors or
assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to
release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable
securities law.
Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in
the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ab2d8ea2-31c9-4e14-9411-bbe49db8485f