White Gold Corp. Files Technical Report for Significant Increase of Mineral Resources to 1,203,000 oz Gold Indicated and 1,116,600 oz Gold Inferred on its Flagship White Gold Project, Yukon, Canada
January 6th, 2025
White Gold Corp. Files Technical Report for Significant Increase of Mineral
Resources to 1,203,000 oz Gold Indicated and 1,116,600 oz Gold Inferred on
its Flagship White Gold Project, Yukon, Canada
TORNOTO, January 6, 2025 (GLOBAL NEW SWIRE) -- White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W )
(the "Company") is pleased to announce it has filed a technical report in accordance with National Instrument 43 -
101 – Standards of Disclosure for Mineral Projects to update the Mineral Resource Estimate (“ MRE”) on its 100%
owned flagship White Gold Project (“the Project”). The technical report entitled “ 2024 Technical Report for the
White Gold Project, Dawson Range, Yukon, Canada” and dated January 3, 2025 (effective date October 28, 2024) has
been prepared for the Company by Dr. Gilles Arseneau, P.Geo. of ARSENEAU Consulting Services Inc. (“ ACS”). The
technical report is available on SEDAR (www.sedar.com) under the Company’s issuer profile.
The Project is located (Figure 1) approximately 95 km south of Dawson City in west-central Yukon, Canada and is
located 33 km north from the advanced Coffee project owned by Newmont Corporation (TSX: NGT, NYSE: NEM) 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 58 km
northwest from Western Copper and Gold Corporation’s (TSX: WRN, NYSE: WRN) Casino project, which has
Measured and Indicated Resources of 7.6 billion lb Cu and 14.5 Moz Au and Inferred Resources of 3.3 billion lb Cu
and 6.6 Moz Au(3).
The updated mineral resource includes a significant increase in total gold ounces, including a 18.5% increase in
inferred resources and an 4.3% increase in indicated resources (see Company News Release dated November 19,
2024). The White Gold project now comprises 1,203,000 ounces of gold in the Indicated Resource category (17.7
million tonnes averaging 2.12 g/t Au) and 1,116,600 ounces of gold in the Inferred Resource category (24.5 million
tonnes averaging 1.42 g/t Au) at US$2,000/oz gold. The gold resour ces at the White Gold Project are near surface,
almost entirely captured within open pit s, and remain open for expansion in multiple directions with additional
opportunities to increase total resources via targets within close proximity. Additional increases to the size of the
resource may also be possible through an ongoing analysis of the resource block model and by capturing additional
ounces hosted within the Target for Further Exploration area which hosts an additional estimated 10 – 12 million
tonnes grading between 1 – 2 g/t Au. These results form part of the Company’s work program supported by strategic
partners including Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE:
KGC).
“The filing of the updated MRE technical report on our flagship White Gold Project represents another significant
milestone on the continued growth and advancement of our deposits, which now ranks as one of the highest-grade
undeveloped open-pittable gold deposits in Canada. Several opportunities exist to continue to expand the resource
size through further drilling, nearby targets and optimization of the resource block model and the significant Target
for Further Exploration area which remains largely underexplored. We look forward to continuing to unlock the gold
and critical mineral endowment of our prospective district scale land package in a tier 1 jurisdiction which has such
a prolific history and prospectivity” stated David D’Onofrio, Chief Executive Officer.
Highlights:
• 17.660 million tonnes of Indicated Resources averaging 2.12 grams per tonne gold for 1.203 million ounces
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of gold, representing 52% of total resources.
• 24.472 million tonnes of Inferred Resources averaging 1.42 grams per tonne gold for 1.117 million ounces of
gold, representing 48% of total resources.
• Inferred and Indicated Mineral Resources have increased by 18.5% and 4.3% respectively, compared to the
previous 2023 MRE(1)
• 97.5% of the resources are near surface and within an open-pit. Indicated Resources of 1.201 million ounces
of gold averaging 2.12 grams per tonne gold (an increase of 6.7%) and open-pit Inferred Resources of 1.061
million ounces of gold averaging 1.38 grams per tonne gold (an increase of 24.4%).
• Mineralization at the Golden Saddle, Arc, Ryan’s Surprise and VG deposits all remain open along strike and
down dip to further expand the deposits and in addition to multiple underexplored targets in close proximity.
• The project also hosts an additional estimated 10 – 12 million tonnes grading between 1 – 2 g/t Au of material
classified as a Target for Further Exploration which has not been included in the current resource which may
further increase the size of the resource and is currently being evaluated in this regard.
• The Company is also currently evaluating additional opportunities to further increase the size of the
resources by optimizing the block model and wireframes of the Golden Saddle and Arc deposits to add
additional tonnage.
• Additional results from the Company’s work program to be released in due course
Mineral Resource Estimate Details
Table 1. White Gold Project, Yukon Territory, Mineral Resource Statement, ACS October 28, 2024.
Area Type Classification Cut-off
(g/t)
Tonnes
(000's)
Grade
(g/t)
Contained
Gold (oz)
Golden
Saddle
Open Pit
Indicated
0.35
16,954 2.16 1,178,500
Inferred 5,396 1.45 250,900
Underground
Indicated
2.3
23 2.77 2,100
Inferred 382 3.06 37,500
Arc
Open Pit
Indicated
0.35
683 1.02 22,400
Inferred 6,781 1.09 236,700
Underground Inferred 2.3 47 3.00 4,600
Ryan
Open Pit Inferred 0.35 5,499 1.57 278,300
Underground Inferred 2.3 127 3.19 13,100
QV Open Pit Inferred 0.35 6,240 1.47 295,500
All Deposits Open Pit Indicated
0.35
17,637 2.12 1,200,900
All Deposits Open Pit Inferred 23,916 1.38 1,061,400
All Deposits Underground Indicated
2.3
23 2.84 2,100
All Deposits Underground Inferred 556 3.09 55,200
All Deposits Total Indicated 17,660 2.12 1,203,000
All Deposits Total Inferred 24,472 1.42 1,116,600
1. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
2. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio -political,
marketing, or other relevant issues.
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3. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Reso urce and
must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource c ould be
upgraded to an Indicated Mineral Resource with continued exploration.
4. The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), C IM
Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve
Definitions and adopted by the CIM Council.
5. Open pittable resources are constrained by GEOVIA Whittle optimized pit shells using a 0.35 g/t Au cut -of grade and are considered to
have reasonable prospects for eventual economic extraction, assuming a gold price of US$2,000 per ounce, a C$:US$ exchange rate of
0.75. an open pit mining cost of CDN$3.25 per tonne, a processing and G&A cost of CDN$27.50 per tonne milled, and gold recove ries of
92% for Golden Saddle, and VG, along with 85% for Arc and Ryan’s Surprise. Underground resources assume a mining c ost of
CDN$120/tonne.
6. The following bulk density values for mineralized material were used: Golden Saddle (2.62 – 2.65 t/m3), Arc (2.55 t/m3), Ryan’s Surprise
(2.63 t/m3) and VG (2.65 t/m3).
7. High-grade gold assay values have been capped as follows: Golden Saddle and Arc (8 – 18 g/t Au), Ryan’s Surprise (9 g/t Au) and VG (3
– 10 g/t Au).
8. The Statement of Estimates of Mineral Resources has been compiled by Mr. Gilles Arseneau, Ph.D.,P.Geo, of ARSENEAU Consulting
Services (“ACS”). Mr. Arseneau has sufficient experience that is relevant to the style of mineralization and type of deposit under
consideration and to the activity that he has undertaken to qualify as a Qualified Person as defined in the CIM Standards of Disclosure.
9. All numbers are rounded. Overall numbers may not be exact due to rounding.
The current MRE for the White Gold project was carried out by Arseneau Consulting Services (“ACS”) of Vancouver,
B.C. and is reported in accordance with the guidelines of the Canadian Securities Administrators National
Instrument 43-101 (“NI 43-101”) and has been estimated in conformity with generally accepted Canadian Institute
of Mining, Metallurgy and Petroleum (“CIM”) “Estimation and Mineral Resource and Mineral Reserve Best
Practices” guidelines. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
The MRE presents updated estimates for the Golden Saddle, Arc, Ryan’s Surprise and VG deposits (Figures 2-5).
The updated MRE was prepared using a block model approach using ordinary kriging interpolation for the Golden
Saddle, Arc and VG deposits and inverse distance squared (“ID2”) interpolation for the Ryan’s Surprise deposit.
Block model sizes varied between d eposits as follows: Golden Saddle and Arc (10 m); Ryan’s Surprise (5 – 10 m);
and VG (10 – 20 m). GEMS 6.8.4 software was used for generating gold mineralization solids, a topography surface,
and resource estimation. Statistical analysis and resource valid ations were performed using non -commercial
software and with Sage2001. Near surface resources were constrained using GEOVIA Whittle pit optimization
software. Pit slopes in rock were assumed at 50° and the MRE assumes a long -term gold price of US$2,000 per
ounce. Gold recoveries used were 92% for the Golden Saddle and VG deposits, and 85% for the Arc and Ryan’s
Surprise deposits. Gold recoveries are based on metallurgical testwork results for the Golden Saddle and Arc
deposits and are assumed for the Ryan’s Surprise and VG deposits based on their close similarities to the Arc and
Golden Saddle deposits, respectively.
Mineralization on portions of both the Golden Saddle and Arc deposits is known to extend beyond the limits of the
current resource estimate, however, the mineralization in these areas did not meet the criteria to be classified as
Mineral Resources. Based on drilling at Golden Saddle and current geologic models, there is an estimated 10 – 12
million additional tonnes grading between 1 – 2 g/t Au of material classified as a Target for Further Exploration
(“TFFE”). The reader should be cautioned that the potential quantity and grade of the TFFE is conceptual in nature.
There has been insufficient drilling to define a mineral resource and it is uncertain if further exploration will result
in the target being advanced to a mineral resource . These zones form more continuous mineralized units at US$
2,000/oz gold and the Company plans to further evaluate this mineralization through re-modelling and optimization
of the block model and wire frames to determine if it can be incorporated in future resource estimates.
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Resources & Opportunities in the White Gold District
West-central Yukon is host to several highly prospective mineral districts, including the White Gold, Dawson Range,
Klondike and Sixtymile districts. The Klondike was the epicentre of the historic Klondike Gold Rush in 1896 with
over 20 million ounces of p lacer gold production having occurred in the region since that time. The Company’s
property portfolio , which covers large portions of the White Gold District, was assembled by renowned prospector
Shawn Ryan, and represents the largest claim package in the region, consisting of 15,876 claims across 26 properties
and covering approximately 315,000 hectares. Two significant advanced projects border the Company’s claims in
the south including the Coffee project owned by Newmont Corporation (TSX: NGT, NYSE: NEM ) 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 (TSX: WRN, NYSE: WRN) Casino project, which has Measured and Indicated Resources of
7.6 billion lb Cu and 14.5 Moz Au and Inferred Resources of 3.3 billion lb Cu and 6.6 Moz Au(3). The region has seen
significant investment by various other major mining companies recently and the Yukon is consistently ranked as a
top 10 mining jurisdiction on the Investment Attractiveness Index based on the Fraser Institute’s Annual Survey of
Mining Companies.
All four of White Gold’s near -surface deposits are interpreted to represent structurally -controlled orogenic gold
deposits, collectively form the Company’s gold resource base in the heart of its large land package, and remain
open for expansion.
Qualified Persons, Technical Information and Quality Control
The MRE for the White Gold Project was prepared by Dr. Gilles Arseneau of Arseneau Consulting Services (ACS), an
Independent Qualified Person (“QP”) as defined under NI 43-101, who has reviewed and approved the contents of
this news release. The technical content of this news release has also been reviewed and approved by Terry Brace,
P.Geo. and Vice President of Exploration for the Company who is also a QP as defined under NI 43-101 – Standards
of Disclosure of Mineral Projects.
QA/QC
White Gold’s drill core sampling consisted of collecting samples over 0.50 m to 2.50 m intervals (depending on
lithology and style of mineralization) over the entire hole length. RC samples were collected at continuous 1.5 m
intervals. All drill core was c ut in half using a diamond saw, with half of the core placed in sample bags and the
other half returned to the core box. Standard, blank, and duplicate samples were inserted into both the drill core
and RC sample streams at regular intervals to meet a desi gnated QA/QC sample insertion rate. All samples were
organized into batches, flown via fixed -wing aircraft from camp, and transported via courier to an ISO -certified
laboratory for analysis.
About White Gold Corp.
The Company owns a portfolio of 15,876 quartz claims across 26 properties covering approximately 315,000
hectares (3,150 km2) representing approximately 40% of the Yukon’s emerging White Gold District. The Company’s
flagship White Gold project hosts four near-surface gold deposits which collectively contain an estimated 1,203,000
ounces of gold in Indicated Resources and 1,116, 600 ounces of gold in Inferred Resources (this news release).
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 Measured and Indicated Resources of 2.1 Moz at 1.28 g/t gold and Inferred Resources of 0.2 Moz
at 1.04 g/t gold (2), and Western Copper and Gold Corporation’s Casino projec t which has Measured and Indicated
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Resources of 7.6 Blb copper and 14.5 Moz gold and Inferred Resources of 3.3 Blb copper and 6.6 Moz gold (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 Corporation Form 10 -K: Annual report for the year ending December 31, 2023, in the Measured, Indicated, and Inferred
Resources section, dated February 29, 2024, 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+.
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:
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 properties; business in tegration 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; actu al results of current and future
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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 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
Request Meeting: https://calendly.com/meet-with-wgo/15min