Quarterly Activities Report
Red Mountain Zinc VMS Project Highlights
The Company continued extensive on-ground exploration activities at its 100% owned Red Mountain high-grade zinc - silver - lead - gold volcanogenic massive sulphide ("VMS") Project in Alaska. Field activities included simultaneous diamond drilling, ground CSAMT geophysics, geological reconnaissance mapping and surface geochemical sampling programs. The 2018 field program concluded in September as planned. Exploration program highlights for 2018 include:
- Discovery and successful drill testing of the new Hunter prospect massive sulphide mineralisation with 1.4m @ 17.4% Zn, 3.9% Pb, 90g/t Ag & 1.6% Cu for 25.8% ZnEq(see Note 1 below) (HR18-01)(see Note 2 below). This discovery remains open east and west and down dip with massive sulphide mapped for over 500 metres along strike on the surface.
- Best drill intersection in the history of this project at the West Tundra deposit with 3.5m @ 15.1% Zn, 6.7% Pb, 518g/t Ag, 2.1g/t Au and 0.2% Cu for 35.2% ZnEq(see Note 1 below) (WT18-28)(see Note 3 below).
- Best drill intersection in the history of this project into the Discovery Lens at the Dry Creek deposit with 4.7m @ 19.5% Zn, 7.8% Pb, 466g/t Ag, 6.9g/t Au and 1.5% Cu for 49.7% ZnEq(see Note 1 below) (DC18-79)(see Note 4 below).
- Down dip extension of the Fosters Lens at the Dry Creek deposit achieved with 4.3m @ 4.8% Zn, 2.3% Pb, 1,435g/t Ag, 2.2g/t Au and 0.5% Cu for 43.2% ZnEq(see Note 1 below) (DC18-77)(see Note 4 below) and remaining open down dip.
- Completion of a detailed regional stream sediment program across the majority of the Company's 143km2 strategic tenement package to assist in focusing follow-up work for the 2019 field exploration program.
o The field crews collected 435 stream samples, 1,835 soil samples and 330 rock chips samples across the company's tenement holding. Stream samples are awaiting assaying.
- Successful application of portable XRF analysis of soil samples to deliver rapid target generation.
- Successful orientation ground geophysics across known mineralisation with the CSAMT geophysics technique accurately identifying massive sulphide mineralisation at Dry Creek and West Tundra enabling the technique to be a rapid reconnaissance tool for identifying drill targets within zones of anomalous geochemistry and favourable stratigraphy.
o The CSAMT geophysics crew acquired 40 line kms of new data along strike of the Dry Creek and West Tundra VMS deposits. This work assisted to identify follow-up drill targets.
- A total of 24 drill holes for 4,111 metres of diamond core drilling was completed during 2018. The drill rig has been demobilised and stored at the camp site ready for rapid re-mobilisation in 2019.
The successful progress of this exploration program resulted in the signing of a cornerstone investment and strategic relationship agreement with Sandfire Resources NL (ASX:SFR) (Sandfire). The company welcomed Sandfire as a strategic partner and cornerstone investor that shares White Rock's vision for the exploration and development of the Red Mountain Project. Securing a high-quality partner with world leading expertise in the exploration and development of base metals projects is a strong endorsement to the quality and potential of White Rock's globally significant high-grade zinc VMS Red Mountain Project.
1 ZnEq = Zinc equivalent grades are estimated using long-term broker consensus estimates compiled by RFC Ambrian as at 20 March 2017 adjusted for recoveries from historical metallurgical test work and calculated with the formula: ZnEq =100 x [(Zn% x 2,206.7 x 0.9) + (Pb% x 1,922 x 0.75) + (Cu% x 6,274 x 0.70) + (Ag g/t x (19.68/31.1035) x 0.70) + (Au g/t x (1,227/31.1035) x 0.80)] / (2,206.7 x 0.9). White Rock is of the opinion that all elements included in the metal equivalent calculation have reasonable potential to be recovered and sold.
2 Refer ASX Announcement 20 August 2018 "High Grade Zinc Discovery at the Hunter Prospect, Red Mountain".
3 Refer ASX Announcement 18 June 2018 "Initial Drilling Delivers High Grade Zinc Results at Red Mountain".
4 Refer ASX Announcement 4 July 2018 "High Grade Zinc-Silver Drill Intersections Extend Mineralisation at Red Mountain".
5 Refer ASX Announcement dated 26 September 2017 "White Rock Minerals Independent Research Report".
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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, where it has an earn-in joint venture arrangement with Sandfire Resources NL. At Red Mountain, there are already two high grade deposits, with an Inferred Mineral Resource of 9.1 million tonnes @ 12.9% ZnEq for 1.1 million tonnes of contained zinc equivalent. The Mt Carrington project, located near Drake, in Northern NSW, is a near-production precious metals asset with a resource of 341,000 ounces of gold and 23.2 million ounces of silver. White Rock Minerals is listed on the ASX:WRM.
White Rock Minerals Ltd
Sandfire Resources NL