“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 maiden 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 downhole 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 andJune 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 regional 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
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
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 Mineral 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
Additional Regional Exploration
Additional regional 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
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
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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 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
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
(647) 930-1880
ir@whitegoldcorp.ca
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/fae91238-cd86-4087-b52d-b86810c2ff86
https://www.globenewswire.com/NewsRoom/AttachmentNg/04199f14-b1e6-41a6-9326-b295bdef6cfd
https://www.globenewswire.com/NewsRoom/AttachmentNg/0c4757c6-22c9-486a-9e22-215048fe5e93
Figure 1: WGO 2023 Exploration Program Overview
Figure 1: WGO 2023 Exploration Program Overview
Figure 2: Wolf 2023 Planned RAB Drilling
Figure 2: Wolf 2023 Planned RAB Drilling
Figure 3: Toonie 2023 Planned RAB Drilling
Figure 3: Toonie 2023 Planned RAB Drilling
2023 GlobeNewswire, Inc., source