White Gold Corp. takes great pleasure in announcing that in response to its news release on June 10, 2019, the Company has filed a National Instrument 43-101 (“NI 43-101”) technical report delineating an increased Mineral Resource Estimate for the White Gold property situated in Yukon, Canada.
The update was carried out based on the outcomes of the Company’s 2018 exploration work on the Golden Saddle and Arc deposits. The Company’s 2019 completely funded $13 million program supported by partners Agnico Eagle Mines Limited and Kinross Gold Corp is in progress and consists of 17,000 m of diamond drilling on the Vertigo target (JP Ross property), Golden Saddle and Arc deposits (White Gold property), and QV property.
Resource Highlights Include:
- Indicated Mineral Resource of 1,039,600 gold ounces within 14,330,000 tons at 2.26 g/t gold, and Inferred Mineral Resource of 508,700 gold ounces within 10,696,000 tons at 1.48 g/t gold, from the Golden Saddle (“GS”) and Arc deposits showing a 25% rise based on 2018 exploration work.
- 8% rise in Indicated Resources and 80% increase in Inferred Resources.
- Rise in the Golden Saddle impelled by the 2018 GS West Zone discovery, expansion of potential underground ounces, and expansion of the GS Main and Footwall Zones.
- Increases in the Arc impelled by 2018 drilling and updated geologic modeling.
- GS & Arc mineralization continues to be open along strike and down dip/plunge. Considerable ounces added with just 12,368 m of drilling in 2018 on these zones.
- GS Main Zone comprises a stable high-grade core of 832,000 gold ounces at a grade of 2.96 g/t gold in the Indicated category and 107,000 gold ounces at a grade of 3.18 g/t gold Inferred using lesser than 1 g/t cut-off. This high-grade core also includes 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 more than 3 g/t cut-off.
We are very pleased with the significant increase in our mineral resource estimate. This expansion further demonstrates the continued success of our systematic data driven exploration methodologies and the value we are generating across our unique portfolio of properties.
David D’Onofrio, Chief Executive Officer, White Gold Corp.
D’Onofrio continued, “Continued expansion of the deposits is one important component of our 2019 exploration program, which has been designed to add additional near-surface ounces to the deposits and demonstrate the potential of the newly identified targets. Drilling on the White Gold property is currently underway and we look forward to the upcoming results.”