TORONTO, Dec. 05, 2019 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the "Company") is pleased to announce it has staked three strategic claim blocks (Kodiak, Kirkman & Tea) totaling 689 mining claims (the “Claims”) contiguous to the Company’s White Gold property, Newmont Goldcorp Inc.’s (TSX: NGT, NYSE: NEM, “Newmont”) Coffee project and Western Copper & Gold’s (TSXV: WRN, NYSE: WRN) Casino project, all located in the prolific White Gold District, Yukon, Canada. The claims further extend the Company’s land package to the south, with Kodiak & Kirkman claim blocks located approximately 10km south of the Company’s White Gold deposit and 10km to the north of Newmont’s Coffee deposit, and the Tea claim block located contiguous to the Coffee project to the south. These properties each display similar geological characteristics to the nearby properties which host significant gold deposits. The Claims bring the Company’s expansive land package to 21,207 quartz claims across 33 properties, totalling over 422,730 hectares, representing over 40% of the White Gold District. White Gold Corp’s fully-funded $13 million 2019 exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC) includes diamond drilling on the Vertigo target (JP Ross property), Golden Saddle & Arc deposits (White Gold property) as well as soil sampling, prospecting, GT Probe, trenching and RAB/RC drilling on various other properties across the Company’s expansive land package located in the prolific White Gold District, Yukon, Canada.
- New claims staked:
° KODIAK: 111 claims contiguous to the White Gold property and 10km north of Newmont’s Coffee deposit
° KIRKMAN: 272 claims extending south of Kodiak, also north of Newmont’s Coffee and south of the White Gold property.
° TEA: 306 claims contiguous to Newmont’s Coffee project on the south.
- These properties are historically underexplored and display similar geological characteristics to the Coffee project and White Gold properties.
- Shawn Ryan, Chief Technical Advisor will be presenting today Thursday December 5, 2019 at 4PM EST, a live webinar corporate update focusing on the Company’s recent high-grade gold discovery the Titan; Registration details are provided below, and a recording will also be available subsequent to the webinar.
- Additional regional exploration activity & drill results from the White Gold and JP Ross properties to be released in due course.
Maps showing the location of the Claims can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
“Our recent high-grade, near surface Titan discovery and last year’s Vertigo, Ryan’s Surprise and other discoveries continue to demonstrate the success of our proprietary, methodical data-based exploration strategy and the prospectively of our extensive land package in the prolific White Gold District. The Kodiak, Kirkman and Tea properties have similar geological characteristics to our White Gold property and/or the Coffee project and are strategic additions to our land package,” stated David D’Onofrio, Chief Executive Officer.
Kodiak & Kirkman Properties:
Kodiak is comprised of 111 claims located south and adjacent to the Company’s White Gold property and approximately 15km north Newmont’s Coffee deposit. Kirkman is comprised of 272 claims extending south of the Kodiak Property, in close vicinity to the Company’s White Gold property and approximately 10km north of Newmont’s Coffee project and 2 km north of Arcus Development Group Inc.’s Dan Man property.
The Kirkman claims were previously held by Kaminak Gold, who originally discovered the Coffee deposit and was subsequently acquired by Goldcorp for $530M. Historically the properties have only had limited exploration work completed, comprised primarily of soil sampling, geophysical surveys, and minor trenching activity.
The strong soil anomalies and favourable geology, combined with the proximity to the neighboring gold deposits warrant follow up exploration. The anomalies are also alongside the Kirkman Creek which is currently actively mined for placer gold.
The Tea is comprised of 306 claims on a new target area and is located immediately south of Newmont’s Coffee project, and adjacent to Western Copper & Gold’s Casino project to the east. The Tea property claims were staked based on geologic and geophysical interpretation of the area with the claims covering a previously unexplored regional scale, E-W oriented, structural corridor and receptive host rocks. Placer gold is known to occur within streams draining the area and the geologic and structural framework is similar to that which hosts mineralization on the adjacent Coffee property, and the Company’s Betty property approximately 25km to the east.
Live Corporate Update Webinar: Titan Discovery – Thurs Dec 5, 2019 4PM EST
Shawn Ryan, Chief Technical Advisor, will present a live webcast corporate update with a focus on the Company’s Titan discovery.
The recent and first ever drilling on the Titan intercepted 72.81 g/t Au over 6.09m from 10.67m depth, including 136.36 g/t Au over 3.05m, within a 32m zone of mineralization and remains open in all directions(1). The Titan is located on the road-accessible Hen property and consists of a 650m x 650m gold in soil anomaly with multiple other prospective targets that show similar geophysical characteristics to the mineralization encountered in these drill holes. Titan surface exploration results include grab samples of 605 g/t Au, 497 g/t Au, and 113 g/t Au with fine grained visible gold observed, and soil samples of up to 113 g/t Au, the highest ever in the Company’s 400,000+ soil sample database(2).
Register for Live Webinar at Link Below: A recording of the webinar will become available after the Webinar using the same link:
- See White Gold Corp News Release dated November 26, 2019, available on SEDAR.
- See White Gold Corp News Release dated September 5, 2019, available on SEDAR.
The Company also announces that Robert Carpenter has stepped down from the Board of Directors to pursue other interests. The Company would like to thank Rob for his valuable contributions to the Company and wish him the best of luck in his future endeavours.
The analytical work for the 2019 drilling program will be performed by ALS Canada Ltd. an internationally recognized analytical services provider, at its Vancouver, British Columbia laboratory. Sample preparation was carried out at its Whitehorse, Yukon facility. All RC chip and diamond core samples will be prepared using procedure PREP-31H (crush 90% less than 2mm, riffle split off 500g, pulverize split to better than 85% passing 75 microns) and analyzed by method Au-AA23 (30g fire assay with AAS finish) and ME-ICP41 (0.5g, aqua regia digestion and ICP-AES analysis). Samples containing >10 g/t Au will be reanalyzed using method Au-GRAV21 (30g Fire Assay with gravimetric finish).
The reported work will be completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standard, blanks and duplicates into the sample stream.
About White Gold Corp.
The Company owns a portfolio of 21,207 quartz claims across 33 properties covering over 422,730 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t Au and 508,700 ounces Inferred at 1.48 g/t Au. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Goldcorp Corporation with a M&I gold resource(3) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(3) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.
(3) 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.
Jodie Gibson, P.Geo., a Technical Advisor for the Company, is a “qualified person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release.
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:; 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.
Chief Executive Officer
White Gold Corp.