TORONTO, May 25, 2020 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the "Company") is pleased to announce an online Webinar hosted by management on Thursday, May 28th, 2020. David D'Onofrio – CEO, Shawn Ryan – Chief Technical Advisor and Terry Brace – VP of Exploration, will present additional details on the Company’s fully funded 2020 exploration program on its extensive 422,000+ hectare land package, representing over 40% of the prolific White Gold District in Yukon, Canada. The 2020 exploration program, budgeted at approximately $4.0 Million, has been designed to further test high priority targets and recent high-grade discoveries on the Company’s White Gold, Hen and JP Ross properties, as well as to identify and advance other targets throughout its regional land package. Backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC), the 2020 exploration program is scheduled to commence in the coming weeks.
The White Gold Corp webinar will take place on Thursday, May 28th, 2020, at 1 p.m. ET (10 a.m. PT). The Management Team will be available to answer questions following the presentation.
Live webinar registration:https://webinars.6ix.com/6ix/White-Gold-Exploration-2020
Dial-in Number: 1 (312) 248-9348
Dial-in ID Number: 536652#
Dial-in PasscodeNumber: 8741#
Highlights Include:
- Recently announced fully subscribed $6 million private placement at $0.90 per flow-through common share with Agnico Eagle & Kinross each maintaining their 17.1% interest in the Company and Eric Sprott to participate.
- Ryan’s Surprise target (along strike with the Golden Saddle Deposit): 1,500 m diamond drill program to test for strike and down-dip extensions of high-grade mineralization encountered in 2019.
- Titan target: 1,500 m diamond drill program to test the extents of high-grade mineralization encountered in 2019 rotary air blast (RAB) drilling which included 72.81 g/t Au over 6.09 m from 10.67 m depth, within a 32m zone of mineralization.
- Approximately 25 RAB holes will be drilled to test high-priority targets on the White Gold, Hen and JP Ross properties.
- Mechanical trenching will be carried out on multiple newly identified targets on the JP Ross property to collect key structural data to aid in ongoing interpretations and future drill planning.
- Extensive regional exploration work on other properties will include geologic mapping and prospecting, soil sampling, GT probe sampling, ultra high-resolution drone imagery, and ground magnetics and VLF surveying on the Betty, Nolan, Bonanza and Tea properties.
- A district scale map outlining the Company’s planned 2020 exploration work areas and other images on key targets can be found at http://whitegoldcorp.ca/investors/exploration-highlights
2020 Exploration Program Summary:
Details on White Gold Corp’s 2020 exploration program can be found in the Company’s press release at https://whitegoldcorp.ca/news/releases/index.php?content_id=205. A brief summary is included below:
White Gold Property Program: The White Gold property hosts the Company’s flagship Golden Saddle & Arc deposits which have a current mineral resource of 1,039,600 gold ounces indicated at 2.26 g/t Au and 508,700 gold ounces inferred at 1.48 g/t Au. Planned 2020 exploration work on the White Gold property includes 1,500 m of diamond drilling at the Ryan’s Surprise target to test for strike and down-dip extensions of mineralization encountered in 2019, as well as RAB drilling on high priority targets elsewhere on the property.
Hen Property Program: The Hen property is located approximately 25 km northeast of the Golden Saddle and Arc deposits and is situated within a prolific placer mining camp where abundant coarse placer gold has been recovered from creek gravels on North Henderson Creek immediately east of the Titan target. The Hen Property program will focus on the Titan target and has been designed to follow up on first ever drill results on the Titan target in 2019, which intercepted 72.81 g/t Au over 6.09m from 10.67m depth, including 136.36 g/t Au over 3.05m at 12.19m depth within a 32m zone of mineralization, one of the strongest drill holes ever in the White Gold District. The program will include 1,500m of diamond drilling primarily along the NNW-striking gold-in-soil anomaly and RAB drill holes to test magnetic high features within a magnetic low, as well as the separate northeast-striking gold-in-soil anomaly along the southern margin of the magnetic low feature.
JP Ross Property Program: The JP Ross Property hosts multiple gold trends covering an area measuring approximately 15 km x 15 km, including the Vertigo target. The program will focus on collecting key structural data to aid in detailed interpretations and planning of future drilling. Components of program include mechanical trenching on a number of existing targets highlighted by 2019 results such as Sabotage, Stagefright, North Frenzy and Vertigo. RAB drilling will also be performed to test existing targets on the property with final hole locations based on trenching and other exploration results.
The Regional Program: The regional program will focus on earlier stage high priority targets identified in prior seasons and will include soil sampling, GT Probe Sampling, ground magnetic and VLF surveys, geological mapping and prospecting and ultra-high-resolution drone imagery. The regional program will be conducted across multiple properties, including the Betty Property, Nolan Property, Bonanza Property and Tea Property.
About White Gold Corp.
The Company owns a portfolio of 21,159 quartz claims across 33 properties covering over 423,000 hectares representing over 40% of the Yukon’s prolific White Gold District. The Company’s flagship White Gold property hosts the Company’s Golden Saddle and Arc deposits which have a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t gold and 508,700 ounces Inferred at 1.48 g/t gold. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company’s recently acquired VG Deposit also hosts a historic Inferred gold resource of 230,000 ounces at 1.65 g/t Au(1). Regional exploration work has also produced several other new discoveries and prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Measured and Indicated Resources of 2.17 Moz at 1.46 g/t Au, and Inferred Resources of 0.50 Moz at 1.32 g/t Au(2), and Western Copper and Gold Corporation’s Casino project which has Proven and Probable reserves of 8.9 Moz Au and 4.5 Blb Cu(2). For more information visit www.whitegoldcorp.ca.
- See Comstock Metals Ltd. Technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, available on SEDAR.
- Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.
Qualified Person
Terry Brace, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure of Mineral Projects and has reviewed and approved the content of this news release.
Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca
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: risks related to the novel coronavirus disease on the Company; expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties; 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 United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.
