White Gold Corp. Commences Maiden RAB Drill Program on Wolf and Toonie Properties, Yukon, Canada
July 20, 2023
White Gold Corp. Commences Maiden RAB Drill Program on Wolf and
Toonie Properties, Yukon, Canada
TORONTO, July 20, 2023 – White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the "Company") is pleased
to provide an update on regional components of the 2023 exploration program (Figure 1) which are designed to test
several of White Gold’s most prospective, yet relatively untested soil geochemical targets which are sizeable enough
geochemical footprints that, if successful, could be capable of hosting significant deposits. As part of this regional
program, the Company designed a maiden Rotary Air Blast (RAB) drilling on the Wolf and Toonie properties to test
large soil geochemistry anomalies on both properties , identified through the Company’s systematic exploration
approach that has led to several other discoveries on its o ther properties. Maiden RAB drilling has commenced on
the Wolf Property on the Taurus target, a large approximately 2 km long by 0.5 km wide, northeast-trending gold in
soil anomaly, with maximum values of 358 ppb Au and multiple anomalous GT probe sampling results. On the Toonie
Property, maiden RAB drilling is currently underway on the Deux target located in the northwestern region of the
property and forms a 1.5 km by 0.5 km east -west trending multi -element (Au -As-Tl-Ag) soil anomaly, including
maximum values of 156 ppb Au. This work forms part of the Company’s fully funded 2023 exploration program
backed by strategic partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX:
K, NYSE: KGC). The Company’s land package rep resents over 40% of the emerging White Gold District in Yukon,
Canada in which the Company has made several high grade gold discoveries such as Betty Ford , Ryan’s Surprise &
Vertigo, and has significantly increas ed resources at the Company’s flagship White Gold Project which now
comprises 16 million tonnes averaging 2.23 g/t Au for 1,152,900 ounces of gold in the Indicated Resource category
and 19 million tonnes averaging 1.54 g/t Au for 942,400 ounces of gold in th e Inferred Resource category (1) and
remains open for expansion.
“Our regional RAB drilling program will test multiple early-stage targets for White Gold. The Wolf and Toonie
properties represent prospective targets where we are excited to commence maide n RAB drilling to test large soil
anomalies on both properties. This regional component of the 2023 exploration program is vital to our exploration
strategy in ensuring we can continue to advance early -stage targets through our exploration pipeline and to
demonstrate the expansiveness and prospectivity of near surface gold mineralization on our district scale land
package located in a tier 1 jurisdiction,” stated David D’Onofrio, Chief Executive Officer.
Maps and images accompanying this news release can be found at http://whitegoldcorp.ca/investors/exploration-
highlights/.
Highlights:
• Maiden RAB drilling of 300 m at the Wolf property on the Taurus target (Figure 2), where the four RAB holes
were designed to test a large 2 km long by 0.5 km wide gold in soil anomaly, with maximum values of 358
ppb Au, along strike and the dip of the zone at depth.
• Maiden RAB drilling of 300m at the Toonie property on the Deux target (Figure 3), which hosts a 1.5 km by
0.5 km multi-element (Au-As-Tl-Ag) soil anomaly including maximum values of 156 ppb Au, with holes placed
to test the full 1.5 km strike length of the anomaly.
• All RAB holes are imaged with down hole optical televiewer, which provides optical records of the borehole
wall, to allow for real-time detailed structural analysis and interpretation as drilling progresses.
• RAB drilling at both the Wolf and Toonie properties have been awarded Yukon Mineral Exploration Program
(YMEP) grants for Target Evaluation.
• Results on the Company’s 2023 exploration program, including the recently completed diamond drilling at
the Betty Ford and Vertigo targets will be announced in due course (see Company News Releases dated July
6, 2023 and June 21, 2023).
• Maiden diamond drilling on the Cali Target located on the Nolan property will test a 2km long gold and multi-
element soil anomaly is set to commence in coming weeks, with further details announced in due course.
• Other components of the r egional exploration program include Induced Polarization – Resistivity ground
geophysical surveys over the large Copper -Molybdenum porphyry targets located on the Pedlar and Hayes
properties, and additional work to generate new targets for future drill testing including geological mapping
and prosecting, soil geochemistry surveys, and ground magnetics and VLF-EM surveys with additional detail
to be provided in the coming weeks.
Wolf Property
The Wolf property is located east on the White River, approximately 120 km south-southwest of Dawson City and 35
km west of the Company’s White Gold Project. The Taurus target is located in the southwest region of the Wolf
property. It is defined by an app roximately 2 km long by 0.5 km wide, northeast -trending gold in soil anomaly,
including maximum values of 358 ppb Au. Follow-up GT probe sampling returned values of up to 1.224 g/t Au along
with multiple samples greater than 0.5 g/t Au. The arcuate-shaped gold in soil anomaly at the Taurus target appears
to be coincident with a magnetic low, which from target scale mapping, correlates with a siliciclastic unit assigned to
the Carmacks Group. Subsequent IP surveying conducted over this anomaly shows the pres ence of a sub-vertically
dipping chargeability high directly underneath the gold in soil anomaly, suggesting the presence of a potential feeder
structure.
The 2023 program at the Wolf property is now finished and saw the successful completion of four RAB holes at the
Taurus target, totalling 300.3m of drilling. Holes were generally drilled towards the southwest, with one hole drilled
to the north to test the dip of the zone at depth. Each hole was between 50.3m and 93.0m in length and placed such
that the full 1.5 km strike length of the anomaly was tested. All holes drilled at Wolf were successfully imaged with
a downhole optical televiewer, which optically records the borehole wall, allowing for detailed structural analysis to
be conducted and interpreted alongside the analytical results.
All assays from this program have now been submitted to the analytical laboratory and will be released in due course.
Toonie Property
The Toonie property is located west of the Yukon River, approxi mately 45 km southwest of Dawson City. The Deux
target is located in the northwestern region of the property and forms a 1.5 km by 0.5 km east-west trending multi-
element (Au-As-Tl-Ag) soil anomaly, including maximum values of 156 ppb Au. Follow-up GT probe sampling returned
values of up to 0.258 g/t Au along with multiple samples greater than 0.10 g/t Au. Property scale airborne magnetic
and electromagnetic surveying (DIGHEM survey) that was previously flown over the anomaly appears to show a
prominent DIGHEM resistivity anomaly which flanks the soil geochemical anomaly on all sides. Subsequent target
scale geological mapping identified sericite and chlorite -altered mafic volcanic rocks with vein -controlled sulphide
mineralization indicating the target is prospective for shear-hosted gold mineralization.
The 2023 program at the Toonie property is currently underway and will see four RAB holes drilled at the Deux target,
totalling 400 m of drilling. Each hole will be drilled to the north at dips of -55°, 100 m in length, and holes placed
such that the full 1.5 km strike length of the anomaly is tested. So far, two of the four planned RAB holes at the Deux
target have been completed.
Yukon Mineral Exploration Program
The Company has been awarded Yukon Minera l Exploration Program (YMEP) grants for Target Evaluation at both
the Wolf and Toonie properties. Under the YMEP the Yukon Government provides successful applicants funding to
support mineral exploration activities for 50% of eligible expenditures up to a maximum of $50,000. The Company
wishes to acknowledge and thank the Yukon Government for their continued support of its exploration programs in
the Yukon.
Additional Regional Exploration
Additional r egional exploration work include induced polarization – resistivity ground geophysical surveys at the
Pedlar and Hayes properties, both of which host large multi -element soil anomalies with porphyry signatures and
are located in the southern portion of the Company’s land package approximately 25 km northeast and 30 km east
respectively of the Casino copper -gold porphyry deposit. Other components of the regional exploration program
include soil sampling, VLF-EM and ground magnetics surveying, and regional scale mapping and prospecting designed
to continue to advance and define additional exploration targets within White Gold’s district-scale portfolio. Further
details on these components of this regional exploration work will be announced in due course.
About White Gold Corp.
The Company owns a portfolio of 17,584 quartz claims across 30 properties covering approximately 350,000
hectares representing over 40% of the Yukon’s emerging White Gold District. The Company’s flagship White Gold
project hosts four near -surface gold deposits which collecti vely contain an estimated 1,152,900 ounces of gold in
Indicated Resources and 942,400 ounces of gold in Inferred Resources (1). Regional exploration work has also
produced several other new discoveries and prospective targets on the Company’s claim packages which border
sizable gold discoveries including the Coffee project owned by Newmont Corporation with Indicated Resources of
2.14 Moz at 1.23 g/t Au, and Inferred Resources of 0.23 Moz at 1.01 g/t Au (2), and Western Copper and Gold
Corporation’s Casino pro ject which has Measured and Indicated Resources of 7.6 Blb Cu and 14.5 Moz Au and
Inferred Resources of 3.3 Blb Cu and 6.6 Moz Au(3). For more information visit www.whitegoldcorp.ca.
(1) See White Gold Corp. technical report titled “2023 Technical Report for the White Gold Project, Dawson Range, Yukon, Canada ”, Effective
Date April 15, 2023, Report Date May 30, 2023, NI 43-101 Compliant Technical Report prepared by Dr. Gilles Arseneau, P.Geo., available on
SEDAR.
(2) See Newmont Corporati on 10 -K: Annual report for the year ending December 31, 2022, in the Measured, Indicated, and Inferred
Resources section, dated February 23, 2023, available on EDGAR. Reserves and resources disclosed in this Form 10-K have been prepared in
accordance with the Regulation S-K 1300, and do not indicate NI43-101 compliance.
(3) See Western Copper and Gold Corporation technical report titled “Casino project, Form 43 -101F1 Technical Report Feasibility Study,
Yukon Canada”, Effective Date June 13, 2022, Issue Date August 8, 2022, NI 43-101 Compliant Technical Report prepared by Daniel Roth, PE,
P.Eng., Mike Hester, F Aus IMM, John M. Marek, P.E., Laurie M. Tahija, MMSA-QP, Carl Schulze, P.Geo., Daniel Friedman, P.Eng., Scott Weston,
P.Geo., available on SEDAR.
Qualified Person
Cameron Norton, P.Geo. and Exploration Manager for the Company is a “qualified person” as defined under
National Instrument 43-101 – Standards of Disclosure of 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 prediction s,
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”, "bu dget", "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 forwa rd-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, uncertain ties 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:
the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the
White Gold properties; the receipt of all applicable regulatory approvals for the Offering; 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 pro perties; 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 expl oration, 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; geol ogical 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; tit le to properties;
ongoing uncertainties relating to the COVID -19 pandemic; and those factors described under the heading "Risks
Factors" in the Company's annual information form dated July 29, 2020 available on SEDAR. 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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news release.
For Further Information, Please Contact:
Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880