White Gold Corp. Files Technical Report for the VG Deposit Including 16% Increase to Inferred Resources, Located 11 Km North of its Flagship Golden Saddle & Arc Deposits, Yukon, Canada
December 24, 2021
White Gold Corp. Files Technical Report for the VG Deposit Including 16%
Increase to Inferred Resources, Located 11 Km North of its Flagship Golden
Saddle & Arc Deposits, Yukon, Canada
Toronto, White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the "Company") is pleased to announce that
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 on its 100 % owned VG gold deposit. The technical report entitled
“Technical Report for the QV Project, Yukon, Canada” and dated November 15, 2021 (effective date October 15,
2021) 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 updated mineral resource for the VG deposit comprises near -surface Inferred Resources of 267,600 ounces of
gold (5,264,000 tonnes a t an average grade of 1.62 g/t gold), representing a 16% increase in Inferred Resources
compared to a historical 2014 resource estimate (1) which remains open in multiple directions. The VG deposit is
located approximately 11km north of t he Company’s flagsh ip White Gold property hosts the Company’s Golden
Saddle and Arc deposits which have a combined mineral resource of 1,139,900 ounces Indicated at 2.28 g/t Au and
402,100 ounces Inferred at 1.39 g/t Au(1). Mineralization at the Golden Saddle and Arc is also known to extend beyond
the limits of the current resource estimate.
Highlights Include:
• The VG deposit is located on the QV property and 11km north of the Company’s Golden Saddle and Arc
deposits.
• Gold mineralization at the VG deposit appears very similar to that at the Company’s Golden Saddle deposit.
• Opportunities exist at the VG deposit to quickly upgrade a significant portion of Inferred Resources to
Indicated, as well as for expansion of mineralization at depth and along strike.
• Several other prospective targets on the property have received limited exploration work and offer potential
for additional discoveries.
• The 2021 work program continues to demonstrate extensive gold mineralization in the Whi te Gold district
and the potential for new discoveries and continuing to increase the Company’s significant defined resource
base.
Figures accompanying this news release can be found at: https://whitegoldcorp.ca/investors/exploration-highlights/
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“We are very pleased to have increased the resources at the VG deposit with very limited drilling since acquiring the
project in 2019, and feel confident that excellent opportunities exist to quickly upgrade and further expand the
resources, further increasing our already significant and growing defined resource base in the White Gold District.,”
stated David D’Onofrio, CEO.
Resource Estimate Details
The current resource estimate for the VG deposit was carried out by Arseneau Consulting Services (“ACS”) 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 CIM “Estimation and Mineral Resource
and Mineral Reser ve Best Practices” guidelines. Mineral resources are not mineral reserves and do not have
demonstrated economic viability.
The current resource estimate incorporates assay results from 23 diamond drill holes (4,324m) and 8 reverse
circulation (RC) drill holes (870m). An additional 24 rotary air blast (RAB) drill holes totalling 1,758 m were utilized to
assist modelling the mineralized zones, but were not used in grade estimation. All drilling except for the 8 RC holes
drilled by the Company in 2019 was comp leted between 2012 and 2017 by the previous owner, Comstock Metals
Ltd. (“Comstock”, TSX-V: CSL). This compares to 16 diamond drill holes (3,278m) having been used for the historical
2014 resource estimate.
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The Mineral Resource Estimate for the VG deposit, with an effective date of October 15, 2021, is summarized in
Table 1 below. The resources are situated near -surface and are potentially amenable to open pit mining methods.
The Company’s updated total mineral resources for on its Yukon projects is summarized in Table 2 below.
Table 1. VG Deposit Mineral Resource Statement, Effective Date October 15, 2021.
Classification Cut-Off Grade Tonnes Grade Contained Au
(g/t Au) (g/t Au) (ounces)
Inferred 0.5 5,264,000 1.62 267,600
Notes:
• The Mineral Resource Estimate has been constrained to a preliminary optimized pit shell, using gold recovery of 92%, operating costs
of CDN$33.50/tonne, pit slope=50 degrees, SG=2.65, and a gold price of US$1,600 per troy ounce.
• Mineral Resources were estimated by Ordinary Kriging in 20m by 20m by 10m blocks.
• Top cuts to each of the estimated zones were applied with capping values between 3 g/t to 10 g/t Au.
• A fixed bulk density of 2.65 t/m3 was assigned to the model based on the average of all density measurements collected from the
mineralized zones.
• Mineral resources were prepared in accordance with NI 43-101, Companion Policy 43-101CP, and the CIM Definition Standards for
Mineral Resources and Mineral Reserves. Mineral resources that are not mineral reserves do not have demonstrated economic
viability.
• Rounding may result in apparent summation differences between tonnes, grade, and contained metal content.
Table 2. Summary of Mineral Resources, White Gold Corp., Yukon, Canada
Indicated Resource Inferred Resource
Deposit Tonnage Grade Contained
Gold
Tonnage Grade Contained
Gold
(000's) (g/t) (ounces) (000's) (g/t) (ounces)
Golden Saddle - Near Surface 14,815 2.31 1,098,300 3,454 1.43 159,100
Golden Saddle - Underground 143 4.53 20,800 326 4.33 45,300
Arc - Near Surface 613 1.06 20,800 5,221 1.18 197,700
TOTAL 15,571 2.28 1,139,900 9,001 1.39 402,100
Indicated Resource Inferred Resource
Deposit Tonnage Grade Contained
Gold
Tonnage Grade Contained
Gold
(000's) (g/t) (ounces) (000's) (g/t) (ounces)
VG - Near Surface -- -- -- 5,264 1.62 267,600
The Mineral Resource estimate is based on the combination of geological modeling, geostatistics, and conventional
block modeling using the Ordinary Kriging method of grade interpolation in Geovia GEMS software. Four
mineralization solids were created to outline mineralization domains greater than 0.5 g/t Au. The solids constrained
drill hole intercepts were composited into 2.0 m lengths with all unsampled values assigned zero grade. Gold grades
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for the model were estimated in three successive passes. The first pass used a search ellipse with dimensions of 95
m X 30 m X 9 m in the X, Y, and Z directions respectively which represents 80% of the correlogram ranges. Pass two
used the full correlogram range of 120 m X 37 m X 11 m in the X, Y, and Z directions respectively. The third pass
search ellipse doubled the correlogram range in the Y and Z directions. For all three passes a minimum of 6 and
maximum of 20 composites were required to generate a resource block, with no more than 5 composite allowed
from any one drill hole. Resources were estimated into non rotated blocks with dimensions of 20 m X 20 m X 10 m
in the X, Y and Z dimensions respectively. Top cuts to each of the estimated zones were applied with capping values
ranging from 3 g/t to 10 g/t Au.
About White Gold Corp.
The Company owns a portfolio of 21,111 quartz claims across 31 properties covering over 420,000 hectares
representing over 40% of the Yukon’s emerging White Gold District. The Company’s flagship White Gold property
hosts the Company’s Golden Saddle and Arc deposits which have a combined mineral resource of 1,139,900 ounces
Indicated at 2.28 g/t Au and 402,100 ounces Inferred at 1.39 g/t Au(1). Mineralization at the Golden Saddle and Arc
is also known to extend beyond the limits of the current resource estimate. The Company’s VG deposit acquired in
March 2019 hosts an Inferred Resource of 267,600 ounces of gold at 1.62 g/t Au (2). Regional exploration work has
also produced several other new discoveries and prospective targets on the Company’s claim packages w hich
border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Measured and
Indicated Resources of 2.14 Moz at 1.20 g/t Au, and Inferred Resources of 0.23 Moz at 1.07 g/t Au (3) and Western
Copper and Gold Corporation’s Casino project which has Measured and Indicated Resources of 14.5 Moz Au and
7.6 Blb Cu and Inferred Resources of 6.6 Moz Au and 3.3 Blb Cu (4). For more information visit
www.whitegoldcorp.ca.
(1) See White Gold Corp. technical report titled “Technical Report for the White Gold Project, Dawson Range, Yukon Canada”, dated July 10,
2020, prepared by Dr. Gilles Arseneau, P.Geo., and Andrew Hamilton, P.Geo., available on SEDAR.
(2) See White Gold Corp. technical report titled “Technical Report for the QV Project, Yukon Canada”, dated November 15, 2021, prepared
by Dr. Gilles Arseneau, P.Geo., available on SEDAR.
(3) See Newmont Corporation press release titled “Newmont Reports 2020 Mineral Reserves of 94 Million Gold Ounces Replacing 80 Percent
of Depletion”, dated February 10, 2021: https://www.newmont.com/investors/news-release/default.aspx
(4) See Western Copper and Gold Corporation technical report titled “Preliminary Economic Assessment, Yukon Canada”, dated August 2,
2020, prepared by M3 Engineering & Technology Corp., 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 stat ements 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 su ch
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 explorati on programs at any of the Company’s properties will be
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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; 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 spo t 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; 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:
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David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
To Book a Meeting with Management: https://whitegoldcorp.ca/contact/request-information/