White Gold Drills 23.44 g/t Gold and 145 g/t Silver Over 24.38m from Surface Ending in Mineralization at Vertigo Discovery, including 59.3 g/t Gold and 388 g/t Silver over 3.05m and Also Encounters Additional High-Grade Grab
White Gold Drills 23.44 g/t Gold and 145 g/t Silver Over 24.38m from Surface
Ending in Mineralization at Vertigo Discovery, including 59.3 g/t Gold and 388
g/t Silver over 3.05m and Also Encounters Additional High-Grade Grab
Samples up to 257.3 g/t Gold and 293 g/t Silver at Vertigo over a 1.1km Strike
Length
Company to Hold Update Call Today at 11:30am EDT
TORONTO, Oct. 02, 2018 -- White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the "Company")
is pleased to announce Rotary-Air-Blast (“RAB”) drill results from the Vertigo target on the JP Ross property, Yukon Canada.
Assays for three additional RAB holes have been received, returning additional near surface, high grade mineralization,
including some of the highest grades ever in the White Gold District, and also expanding the drilled strike length of
mineralization to 235m. With multiples holes encountering high-grade gold intercepts and many ending in mineralization at
relatively shallow depths, Reverse Circulation (“RC”) drilling has been initiated at JP Ross.
These results mark a significant discovery by the Company produced through its fully funded regional exploration program
backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC).
Systematic exploration has also been conducted on 16 other properties with results to be released in due course. Maps
further detailing drill hole and grab sample locations as well as results can be found at
http://whitegoldcorp.ca/investors/exploration-highlights/.
The Company will host a conference call at 11:30am EDT today, Tuesday, October 2, 2018 for management to provide
additional context regarding these and other significant results encountered this year and answer questions. See below for call
details.
Highlights Include:
• JPRVERRAB18-014 was drilled 160m east of JPRVERRAB18-001 and intersected 23.44 g/t Au over 24.38m from
surface, including 59.3 g/t Au over 3.05m from surface, 39.4 g/t Au over 3.05m from 12.19m depth and 26.1 g/t
Au over 4.572m from 19.81m depth, ending in mineralization. The hole has since been extended with an RC
drill to 79.25 m, with results to be reported in due course.
• Additional surface grab samples encountered up to 257.3 g/t gold including 293 g/t silver encountered within
a 1.1 km strongly mineralized trend. Samples are interpreted as being in-place and representative of the
bedrock below due to the unglaciated nature of the area.
• At least 10 mineralized zones (V1 to V10) have been recognised over a 350m x 1,000m area, with individual
zones having been traced up to 400m along strike with all zones open along strike and at depth.
• The JP Ross property is road accessible from Dawson City and the Vertigo Target is within 2km of the
existing road.
• 17 RAB holes were completed on the Vertigo target with assay results for the final 3 RAB holes to be
released in due course. All but two holes reported to date have encountered significant gold mineralization
over a 235m strike length.
• RC drilling is progress at the Vertigo and Suspicion targets with assays pending. Additional exploration work
including soil sampling, geologic mapping, prospecting, structural interpretation, IP-resistivity, magnetic
surveys and LiDAR are also being performed this season.
• A Class 3 permit application is in progress to permit follow up diamond drilling in 2019.
Shawn Ryan, Chief Technical Advisor of the Company, stated, “This appears to potentially be one of the most significant and
interesting discoveries in the White Gold District to date; it is the kind of mineralization that could have produced the local
placer gold deposits found in the area. The high-grade nature found at such shallow depths and the fact that there appears to
be multiple mineralized zones creates the perfect recipe to build economic ounces. The ability of our team to hit significant
gold mineralization on almost every drill hole over 235m of strike on a new target is a true testament to the tenacity and
effectiveness of our team and exploration methodology. With each new discovery we are gaining a better understanding of the
regional and local geology. We now have increased confidence in the potential for further discoveries in this area as our
exploration team continues to explore other targets on the JP Ross property on trend with Vertigo.”
Exploration Work on Vertigo Target
A total of 917.45m of RAB drilling over 17 holes was completed on the Vertigo target. Several of the RAB holes failed to reach
full depth due to difficult ground conditions adjacent to or within the mineralized zones. The RAB was converted to an RC
system to maximize recoveries and to date 1,224 m of RC has been drilled over 17 holes. This includes step-out drilling to test
additional identified zones of mineralization (V1, V2, & V7 – V10), drilling along strike extensions of the V3 – V5 zones and
initial drill testing on newly identified targets on trend through geologic mapping/prospecting including the recently announced
Suspicion target, 4km to the southwest of Vertigo.
Additional work underway includes:
• Infill and new grid soil sampling along the 12km Vertigo Trend
• Detailed geologic mapping, prospecting and structural interpretation
• IP-Resistivity surveys with 2.08 line-km completed to date
• Ground magnetic surveys to complement existing airborne magnetic and DIGHEM surveys
• High resolution LiDAR surveys over the Vertigo and Suspicion areas to complement existing data
Drill Results
Results for 3 additional holes from the Vertigo have been received with individual assays ranging from trace to 60.4 g/t Au and
are associated with strongly elevated Ag, Pb, Bi, +/- As. All reported holes were drilled either due north (000 o) or due south
(180o) at dips ranging from -55 o to -60 o. The most significant results were obtained from holes JPRVERRAB18-005 &
JPRVERRAB18-014.
JPRVERRAB18-005:
JPRVERRAB18-005 is located 50m to the southwest of JPRVERRAB18-001 at a due north azimuth and dip of 55 o. The hole
targeted the V3 zone and returned 1.49 g/t Au over 16.76m from 12.19m depth, including 9.37 g/t Au over 1.52m from 27.43m
depth, where it ended in mineralization. The hole has subsequently been extended with an RC drill hole to test the mineralized
zone to further depth. Results for the follow up RC hole are pending and will be reported in due course.
JPRVERRAB18-014:
JPRVERRAB18-014 is located 160m east of previously reported hole JPRVERRAB18-001 and was drilled at a 180 o azimuth
and 60o dip. The hole was targeting strongly anomalous As-Pb-Bi (+/- Au-Ag) in XRF results from recent GT Probe sampling
across the interpreted V6 zone and returned 23.44 g/t Au over 24.38m from surface (0.00m). This includes 3 subintervals
consisting of 59.3 g/t Au over 3.05m from surface, 39.4 g/t Au over 3.05m from 12.19m depth and 26.1 g/t Au over 4.572m
from 19.81m depth. The gold mineralization is associated with strongly elevated Ag – Pb (As-Bi) and averaged 145 g/t Ag and
0.54% Pb over the 24.38m interval. The hole ended in mineralization at 28.38m depth due to air loss in strongly fractured
ground. The hole has been subsequently re-entered using RC equipment and extended to depth. The results of the additional
drilling are in progress and will be presented in due course. Gold, silver, and lead assays for the individual 1.52m samples
within the reported interval are presented below.
From(m) To(m) Au(g/t) Ag(g/t) Pb(%)
0 1.52 58.20 388 0.62
1.52 3.05 60.40 220 0.42
3.05 4.57 14.00 113 0.17
4.57 6.1 5.30 68 0.61
6.1 7.62 37.40 82 0.59
7.62 9.14 16.40 54 0.31
9.14 10.67 5.36 57 0.15
10.67 12.19 2.49 81 0.25
12.19 13.72 20.70 121 0.64
13.72 15.24 58.10 271 2.13
15.24 16.76 9.16 83 0.61
16.76 18.29 2.00 18 0.14
18.29 19.81 7.42 32 0.14
19.81 21.34 29.50 333 1.11
21.34 22.86 21.70 257 0.51
22.86 24.38 27.00 138 0.31
Interpretation of the results is ongoing and there is not currently enough information to estimate true thickness of the
mineralized zones.
Significant drill results from the Vertigo target included in this release are detailed in the table below.
Hole ID From(m) To(m) Interval(m) Au(g/t)
JPRVERRAB18-005* 12.19 28.96 16.76 1.49
Including 27.43 28.96 1.52 9.37
JPRVERRAB18-012 38.1 39.62 1.52 1.18
And 73.15 74.68 1.52 1.46
JPRVERRAB18-013 Results pending
JPRVERRAB18-014* 0 24.38 24.38 23.44
Including 0 3.05 3.05 59.3
And 12.19 13.72 3.05 39.4
And 19.81 24.38 4.57 26.1
JPRVERRAB18-015 Results pending
JPRVERRAB18-016 Results pending
JPRVERRAB18-017 Results pending
*Hole ended in mineralization
Previously announced RAB significant results from Vertigo are summarized below.
Hole ID From(m) To(m) Interval(m) Au(g/t)
JPRVERRAB18-001 3.05 13.72 10.67 17.34
Including 3.05 6.1 3.05 56.25
JPRVERRAB18-003 32 35.03 3.05 3.11
JPRVERRAB18-004 19.81 21.34 1.52 3.73
JPRVERRAB18-006 21.34 22.86 1.52 0.76
JPRVERRAB18-007 12.19 13.72 1.52 2.37
And 44.2 45.72 1.52 1.85
And 82.3 83.82 1.52 4.83
JPRVERRAB18-008* 1.52 3.05 1.52 4.11
And 33.52 35.05 1.52 3.4
JPRVERRAB18-009 38.1 39.62 1.52 13.4
JPRVERRAB18-010 16.76 18.29 1.52 15.3
And 64.01 65.53 1.52 1.07
JPRVERRAB18-011* 1.52 16.76 15.24 9.65
Including 1.52 4.57 3.05 45
*Hole ended in mineralization
Surface Samples:
Assays for an additional grab samples from the Vertigo target area were received with results ranging from 0.03 g/t to 257.3 g/t
gold and included 5 samples >1g/t Au and 2 samples >30 g/t Au, including 32 g/t Au & 257.3 g/t Au. The high grade 257.3 g/t
Au sample was from the eastern end of the Vertigo along the projection of the V3 structure and consisted of a brecciated
quartz vein with strong scorodite staining and visible gold. The sample also returned 291 g/t Ag and 2.65% Pb.
Rock grab sampling on the Vertigo target has defined strong mineralization over a 1.1km NW trend with 10 mineralized zones
(V1 to V10), with individual zones having been traced up to 400m along strike with all currently open along strike and at depth.
The samples are interpreted as being in-place and representative of the bedrock below due to the unglaciated nature of the
area. Significant results are summarized below
Sample Target Au (g/t) Ag (g/t)
1715292 Vertigo 257.30 291.00
1715293 Vertigo 2.37 29.50
1715298 Vertigo 1.79 3.20
1715301 Vertigo 32.00 44.90
1715302 Vertigo 5.61 3.4
Conference Call Details
David D’Onofrio (Chief Executive Officer), Shawn Ryan (Chief Technical Advisor), Rob Carpenter (Director) and Jodie Gibson
(VP, Exploration) of the Company will host a conference call today to discuss the results in greater detail and answer
questions. The call-in details are provided below and a recording will be available at the link below following the call.
Date/Time October 2, 2018 11:30AM EDT
Dial-In Numbers
Toll-Free: 877-407-8033
International: 201-689-8033
Replay Numbers
Toll-Free: 877-481-4010
International: 919-882-2331
Replay Passcode: 37715
Teleconference Replay Expiration October 9, 2018 11:00AM EDT
Webcast Link http://www.investorcalendar.com/event/37715
Webcast Replay Expiration January 2, 2019 11:00AM EDT
JP Ross Property
The JP Ross property is comprised of 2,850 quartz claims covering over 57,000 hectares of exploration ground which currently
has at least 14 known anomalous trends including the Vertigo and Suspicion and numerous placer gold bearing creeks.
Preliminary drill results (1) on the Vertigo target ranged from trace to 56.25 g/t Au over 3.05m within a broader intercept of 17.34
g/t Au over 10.67m from 3.05m depth ( 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(2) including 139.9 g/t, 135.6 g/t and 132.9g/t Au defining a strike length of approximately 1.1km on
the vertigo target along a 12km mineralized trend. The JP Ross property is road accessible from Dawson City and the Vertigo
Target is within 2km of an existing road. Recently staked and acquired claims adjacent to the property are situated within a
prolific placer mining camp where coarse placer gold is common.
The property is located 25km north of the Company’s flagship White Gold property which has a mineral resource of 960,970
ounces Indicated at 2.43 g/t gold and 262,220 ounces Inferred at 1.70 g/t gold and 55km north of the Coffee project owned by
Goldcorp Inc. (TSX: G, NYSE: GG) with a M&I gold resource (3) of 4.1M oz. Historic exploration performed on the JP Ross
property by Underworld Resources and Kinross Gold includes geochemical surveys, trenching, airborne magnetic and
radiometric surveys, and 8,592m of diamond drilling over 64 holes. 14 target areas are currently known and large portions of
the property are unexplored.
Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource on
the JP Ross property to date and it is uncertain if further exploration will result in such target being delineated as a mineral
resource.
(1) See Company News Release dated September 17, 2018, available on SEDAR
(2) See Company News Release dated September 26, 2018, available on SEDAR
(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.
About White Gold Corp.
The Company owns a portfolio of 21,218 quartz claims across 34 properties covering over 423,000 hectares representing over
40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 960,970
ounces Indicated at 2.43 g/t gold and 282,490 ounces Inferred at 1.70 g/t gold as set forth in the technical report entitled
“Independent Technical Report for the White Gold Project, Dawson Range, Yukon, Canada”, dated March 5, 2018, filed under
the Company’s profile on SEDAR. 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. (TSX:
G, NYSE:GG) with a M&I gold resource (3) of 4.1M 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. The Company has outlined an aggressive exploration plan backed by
partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC). For more
information visit www.whitegoldcorp.ca.
QA/QC
The analytical work for the 2018 program has been performed by Bureau Veritas Commodities 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 GT Probe, RAB, RC, and diamond core samples were prepared using procedure PRP70-250
(crush, split and pulverize 250 g to 200 mesh) and analyzed by method FA430 (30g fire assay with AAS finish) and AQ200
(0.5g, aqua regia digestion and ICP-MS analysis). Samples containing >10g/t Au were reanalyzed using method FA530 (30g
Fire Assay with gravimetric finish). Metallic-screen analysis may also be utilized if coarse gold mineralization is encounter
(FS600). Samples containing >100 g/t Ag and/or >1% Pb were analyzed using method AQ374 (0.4g, aqua regia digestion and
ICP-ES analysis).
The work was completed using industry standard procedures, including a quality assurance/quality control (QA/QC) program
consisting of the regular insertion of certified standards and blanks into the sample stream. The qualified person detected no
significant QA/QC issues during review of the data.
Qualified Person
Jodie Gibson, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National
Instrument 43-101 (“NI 43-101”) 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, to: the anticipated
benefits to the Company and its shareholders respecting the Company’s objectives, goals and exploration activities conducted
and proposed to be conducted at the JP Ross property; future growth potential of the Company, including whether any further
mineral resources will be established in accordance with NI 43-101 at any of the Company’s properties; exploration results;
and future exploration plans.
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 JP Ross property; failure to expand or identify any additional
mineral resources; 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 JP Ross property and the Company’s other
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; 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 under the heading "Risks and Uncertainties" in the
Company’s most recently filed management’s discussion and analysis. 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 any obligations 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.
(416) 643-3880
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/0e25b280-b2d8-4583-898b-d148aa3ed1a2
http://www.globenewswire.com/NewsRoom/AttachmentNg/1c0a6c32-d4d9-4e11-8758-42fee6865f1f