DJ Carmichael Research Note on High-Grade Zinc VMS Project
MD&CEO Matt Gill said "The Company is very excited about the potential for its globally significant high-grade Zinc VMS Project at Red Mountain and the progress it has made with the Pre-Feasibility Study ("PFS") at the Mount Carrington Gold - Silver Project.
The Company announced its exploration strategy for Red Mountain prior to Christmas and planning for this is now well underway. The Company also released the positive findings from its Mt Carrington PFS around the same time.
The most recent independent valuation of the Red Mountain Project values the Red Mountain Zinc - Silver Project at A$52M, equivalent to 6 cents per White Rock share. This is not a value of the Company, but a value of the Red Mountain asset calculated by DJC.
The DJ Carmichael Report values the Mount Carrington Gold - Silver Project at A$17M, equivalent to 2 cents per White Rock share. This is not a value of the Company, but a value of the Mount Carrington asset calculated by DJC.
The DJ Carmichael Report values the combined Red Mountain Zinc - Silver and Mount Carrington Gold - Silver Projects at equivalent to 8 cents per White Rock share."
No New Information or Data
This announcement contains references to exploration results and Mineral Resource estimates, all of which have been cross-referenced to previous market announcements by the Company. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.
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About White Rock Minerals Ltd
White Rock Minerals Ltd (ASX:WRM) is an Australian listed minerals exploration and development company with projects located in northern NSW (gold and silver) and central Alaska (zinc, silver, lead and gold). The White Rock vision is to explore and develop both precious and base metal projects.
White Rock's cornerstone asset is the Mt Carrington epithermal gold-silver project in northern NSW. The Mt Carrington project has great leverage to the Australian gold and silver prices with a positive scoping study providing a path towards feasibility studies and development in the near term.
White Rock is also exploring the Red Mountain project in Alaska. Red Mountain is a globally significant advanced VMS project with high grade zinc and silver in two deposits. White Rock is exploring for additional high grade deposits that will enhance the projects leverage to an upturn in the fortunes of zinc and silver.
White Rock Minerals Ltd