Multi Rig Drill Program to Test Silver-Zinc & Gold Targets
The Company controls 798km2 of mining claims that cover two distinct mineralisation styles within a single regional Alaskan project. A pipeline of targets exists which will facilitate drill testing of a combination of near-term Resource potential and new targets across a diversified commodity spread - gold, silver and zinc. This district-scale land package allows the Company to undertake a multi-rig drill campaign that leverages efficiencies in a district with world class potential. The two distinct mineralisation types are:
o Silver-zinc rich polymetallic volcanogenic massive sulphide ("VMS") mineralisation associated with the Yukon-Tenana Terrane. The Company already has two high-grade deposits with an Inferred Mineral Resource of 9.1 million tonnes @ 157g/t silver, 5.8% zinc, 2.6% lead and 0.9g/t gold for a grade of 13.2% ZnEq, alternatively, for a grade of 609g/t AgEq.
o Intrusion Related Gold System ("IRGS") mineralisation within the Tintina Gold Province that hosts giant gold deposits including Donlin Creek (45 Moz Au), Fort Knox (13.5 Moz Au) and Pogo (10 Moz Au), all associated with Cretaceous granites.
VMS silver-zinc exploration will focus on three opportunities:
o The potential of the Dry Creek deposit to grow to a size that supports a standalone development opportunity;
o Conductivity targets proximal to the Dry Creek and WTF deposits within the Red Mountain VMS "camp"; and
o New VMS prospects with outcropping mineralisation not yet drill tested in the emerging Last Chance VMS "camp".
IRGS gold exploration will include continued drill testing of the large Last Chance Gold Target through a combination of shallow drilling of surface geochemical anomalies and multi-disciplinary targeting of deeper structural positions likely to offer the most favourable environment for high-grade gold mineralisation.
Three drill rigs have been contracted with plans for over 10,000 metres of drilling from May to September.
o One drill rig will be dedicated to testing the down dip extension to the Dry Creek zinc-silver rich deposit in the Red Mountain VMS "camp" where there is significant potential for multiple high-grade drill intercepts given that this deposit is open at depth along the deposit strike length of 1,200 metres (Figure 1*).
o One drill rig will be dedicated to testing new VMS targets including lookalike conductivity targets located in the Red Mountain VMS "camp" and also testing the newly defined VMS trend north of Last Chance where there are multiple prospects with outcropping VMS mineralisation including Horseshoe, Bib, Bib West, Ringer, Peaches and Grapple (Figure 2*).
o One drill rig will be dedicated to testing IRGS/orogenic gold targets at Last Chance including several shallow targets such as the 418 trend and Breccia Blowout, and a number of deeper drill holes designed to test favourable structural positions within the core zone of geochemical anomalism that extends over 6km of strike8, and would also test several new gold targets proximal to Last Chance (Figure 2*).
*To view tables and figures, please visit:
About White Rock Minerals Ltd
White Rock Minerals Ltd (ASX:WRM) is a diversified explorer and near-stage producer, headquartered in Ballarat, Victoria. The Company's flagship exploration project is Red Mountain in central Alaska. At Red Mountain, there are already two high grade zinc - silver - gold - lead VMS deposits, with an Inferred Mineral Resource of 9.1 million tonnes @ 12.9% ZnEq for 1.1 million tonnes of contained zinc equivalent. The Company is also exploring its recently discovered large intrusion related gold anomaly at Last Chance, also located in the Tintina gold belt of Alaska, home to multi-million gold ounce deposits like Pogo, Fort Knox and the Donlin Project. The Company also has the Mt Carrington project, located near Drake, in Northern NSW, which is a near-production precious metals asset with a resource of 341,000 ounces of gold and 23.2 million ounces of silver on an approved mining lease, and with a Gold First PFS and JORC Reserve. White Rock Minerals is listed on the Australian Stock Exchange.
White Rock Minerals Ltd