White Rock increases its strategic land holding and stakes additional high-grade zinc-silver-lead-gold-copper VMS prospects

Expands Red Mountain Tenement Package
Expands Red Mountain Tenement Package
Ballarat, Nov 21, 2018 AEST (ABN Newswire) - White Rock Minerals (ASX:WRM) ("White Rock") is pleased to announce that it has more than tripled the area of its highly prospective 100% owned Red Mountain high-grade zinc - silver - lead - gold - copper volcanogenic massive sulphide ("VMS") Project in Alaska through the staking of an additional 524 new State of Alaska Mining Claims and Mineral Locations.

The expansion of its tenement package follows a successful first year of field activities for White Rock where drilling intersected multiple high grade intervals of zinc-silver-lead-gold-copper mineralisation at Dry Creek, West Tundra and the newly discovered Hunter prospect (ASX Announcements dated 18 June 2018, 4 July 2018 and 20 August 2018). With some drill hole results returning in excess of 17% zinc, 6% lead, 1,000 g/t silver, 6 g/t gold and 1.5% copper, the 2018 field season also saw three reconnaissance crews out in the field mapping and sampling. The culmination of this work has encouraged White Rock to expand its strategic tenement holding to take in more of what has been identified as a highly prospective geological setting.

White Rock moved to secure the additional prospective areas in consultation with its strategic partner, Sandfire Resources NL ("Sandfire"). Earlier in the year, and encouraged by what White Rock was doing, Sandfire signed an agreement providing equity funding to assist White Rock to continue to explore the Red Mountain project during 2018, with an option to enter into an earn-in JV by the end of this year (ASX Announcement dated 11 July 2018).

The majority of the expanded tenement area forms a contiguous block of mining claims that now extend the Red Mountain project over a larger area of the Bonnifield Mining district, to the west along strike and south into the prospective footwall stratigraphy identified as containing multiple VMS prospective time horizons. The new claim areas will allow White Rock to systematically explore what is now held to be a highly prospective regional stratigraphic setting capable of hosting multiple high grade zinc-rich polymetallic VMS deposits.

White Rock has also staked claims over a number of additional VMS mineral occurrences including at Anderson Mountain, Virginia Creek, West Fork, Peaches, Keevy Peak, Kenny, Sheep Creek and Surprise Creek. These prospects have been the subject of past exploration with VMS characteristics identified from mapping, rock chip sampling and in some cases drilling. Results by previous explorers are summarised below.

The Red Mountain project now comprises 754 State of Alaska Mining Claims and Mineral Locations, with the total area now controlled totalling 475km2.

CEO Matt Gill said "Our successful first year of exploration on the ground at Red Mountain and the subsequent attraction of our strategic partner Sandfire has allowed White Rock to enact a much broader exploration and discovery vision by securing what we believe to be a regionally extensive and highly prospective land package. Field work has confirmed the regional prospectivity through our discovery this year of outcropping massive sulphide mineralisation at the Hunter prospect. Further validation of the regions prospectivity is evidenced by the extensive alteration and multiple VMS time horizons identified through field reconnaissance of targets developed from earlier desktop studies. White Rock envisages that an aggressive systematic multi-pronged exploration program will rapidly yield the discoveries required to advance the Bonnifield district towards a new VMS development project."

Anderson Mountain

The Anderson Mountain prospect was discovered in 1975 by Resource Associates of Alaska Corp ("RAA"), Getty Mining Company ("Getty") and Phelps Dodge Corporation ("Phelps Dodge"). Two of three drillholes intersected significant mineralisation AM-76-2 intersecting 1.7m @ 8.5% Zn, 2.1% Pb, 61g/t Ag and 1.2% Cu from 60.4m and AM-76-3 intersecting 0.6m @ 22.0% Zn, 4.8% Pb, 161g/t Ag and 0.6% Cu from 42.0m (Corner et al, 1977). Massive sulphide zones extend for 1,200 metres SW-NE and are hosted by black graphitic argillites within a Devonian sequence of metasedimentary and metavolcanic rocks (Dusel-Bacon et al., 2012). Nokleberg et al. (1994) document massive sulphide layers up to 3m thick with assays up to 22% Zn, 5% Pb, 170g/t Ag and 19% Cu.

The most recent work known is by Grayd Resources Corp. ("Grayd") in 1998 when they were also active at Red Mountain. Grayd drilled a further 10 drill holes with the highlight from AM-98-6 that intersected 0.9m @ 16% Zn, 5% Pb, 102g/t Ag, 0.8g/t Au & 0.4% Cu from 42.4m (Dreschler et al., 1998).

Virginia Creek

The Virginia Creek prospect was also discovered by RAA, Getty and Phelps Dodge in 1975. Records indicate that four of 6 drill holes successfully intersected sulphide mineralisation along 300m of strike within 45m of surface, with the highlight from VC-2 intersecting 14.8m @ 3.3% Zn, 0.8% Pb, 78g/t Ag, 0.2g/t Au & 0.5% Cu (Corner et al, 1977).

Sheep Creek - Surprise Creek

The Sheep Creek prospect (also known as the Last Chance or Gossan Peak prospect) was also discovered in 1975 by RAA, Getty & Phelps Dodge. The discovery exposure at Gossan Peak extends over 200m of strike and is up to 100m wide with anomalous prospect sites defining a 3km long east-west target horizon (Senter, 1979).

Mineralisation at Sheep-Surprise is distinct from the other VMS prospects in the district as it is sediment-hosted with no clear volcanic affinity, and having significant concentrations of tin (Sn) and indium (In) (Gaard, 1982). Nokleberg et al. (1994) document selected samples up to 11% combined Zn & Pb, 10g/t Ag and 1% Sn from massive sulphide lenses within more broadly disseminated sphalerite-galena-cassiterite (zinc-lead-tin) stratabound mineralisation hosted by siliceous sediments. Records indicate at least 3 drill holes were completed during 1977-79.

Cirque

The Cirque prospect was also discovered in 1976 by RAA, Getty and Phelps Dodge. Massive sulphide float blocks up to 2 metres thick occur within 300m of mineralised calc-schist and carbonate outcrop. Assays for 18 samples averaged 5.6% Zn, 1.7% Pb, 49g/t Ag & 0.5% Cu (Corner et al., 1978).

West Fork

The West Fork prospect was also discovered in 1976 by RAA, Getty and Phelps Dodge and further explored by Grayd in 1998. Massive sulphide mineralisation at surface returned rock chip assay results up to 12.3% Zn, 5.4% Pb, 93g/t Ag & 1.4% Cu, with a footwall of gossanous felsic metavolcanics delineated by a 1200m Cu- Pb-Zn-Ag soil geochemical anomaly that trends E-W (Baxter, 1998).

Peaches

The Peaches prospect was also discovered in 1976 by RAA, Getty and Phelps Dodge and further explored by Grayd from 1996-1998. Surface rock chip sampling assayed 6.9% Zn, 6.3% Pb, 88g/t Ag, 1.2g/t Au & 0.1% Cu (Baxter, 1998).

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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.

 


Contact

Matthew Gill (Managing Director & CEO)
Phone: +61-3-5331-4644

Shane Turner (Company Secretary)
Phone: +61-3-5331-4644
Email: info@whiterockminerals.com.au
Website: www.whiterockminerals.com.au



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