White Gold Corp. Expands High Grade Gold Mineralization at Ryan’s Surprise Target Intersecting Gold in all Holes including 8.69 g/t Au over 12.3m and 17.4g/t Au over 3.47m 2km West of Flagship Golden Saddle Deposit, Yukon, Canada
October 14, 2020 at 06:30 AM EDT
TORONTO, Oct. 14, 2020 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTC: WHGOF, FRA: 29W) (the “Company”) is pleased to announce results of its recently completed diamond drilling program on the Ryan’s Surprise (“Ryan’s”) target which encountered multiple high-grade mineralized zones expanding gold mineralization which remains open in all directions. The Ryan’s target is located approximately 2km west of the Company’s flagship Golden Saddle deposit and 11km south of the Company’s VG deposit. The drilling is part of the Company’s fully funded 2020 exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K,NYSE: KGC) on its extensive 420,000 hectare land package in the emerging White Gold District, Yukon, Canada.
The close proximity of Ryan’s to the Company’s existing mineral resources at Golden Saddle and Arc makes it a highly strategic target. The Golden Saddle and Arc deposits have a combined mineral resource of 1,139,900 ounces Indicated at 2.28 g/t gold and 402,100 ounces Inferred at 1.39 g/t gold and the VG deposit hosts a historic Inferred gold resource of 230,000 ounces at 1.65g/t gold(1). The Ryan's target is situated on a 11km x 5km mineralized trend that includes multiple additional gold zones with geological and other similarities to the Ryan’s Surprise, Golden Saddle and Arc. Discovered through the Company’s systematic exploration programs, these include Ulli’s Ridge, Teachers Showing, Minneapolis Creek and several others which are being explored as part of the Company’s regional exploration program. With only limited exploration to date, these targets offer the potential for additional gold discoveries outside of current resource areas.
“We are very pleased to have encountered additional high-grade mineralization at the Ryan’s Surprise in new zones and extensions to previously encountered mineralization in multiple directions. These results and the close proximity to our established resources provides further evidence of the growth potential of these projects. We are also further encouraged by the prospectively of the other targets in this area which share geological and other characteristics with this recent discovery,” stated David D’Onofrio, CEO of the Company.
Gold assay results are summarized below in Table 1 and drill hole collar data is summarized in Table 2. Images to accompany this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
Ryan’s Surprise Target
The Ryan’s Surprise target is associated with a large (>500m long) gold-in-soil anomaly with values ranging from trace to 1,576 ppb Au, located approximately 2.0km WSW from the centre of the Golden Saddle deposit. Significant mineralization was first encountered by the Company in 2018, including holes WHTRYN18RC0001 which intersected 20.64 g/t Au over 6.10m from 83.82m downhole and WHTRYN18RC0002 which intersected 5.02 g/t Au over 13.17m from 121.92m downhole. In 2019 Hole WHTRS19D012 intersected 2.85 g/t Au over 4.14m from 142.22 m downhole and 2.07 g/t over 21.0m from 154.00m downhole, including 3.55 g/t Au over 8.42m.
The mineralization encountered to date is partially oxidized and is associated with brecciation, stockwork quartz veining and fracture controlled to disseminated pyrite in weakly to strongly sericite altered biotite-quartz-feldspar gneiss, banded quartzite and biotite schist. The mineralization shows a strong association with elevated arsenic and shows similarities and differences to mineralization encountered elsewhere on the White Gold property and may represent a new style of mineralization previously unrecognised on the property. To date Ryan’s Surprise has returned some of the best drill results outside of the Golden Saddle and Arc deposits and is a strong target for additional drilling.
Drill results from the Ryan’s Surprise in 2020 expanded on the results from 2018 and 2019 drill holes, extending the mineralized zones down dip and along strike, and demonstrating the presence of multiple gold bearing structures in addition to those previously modelled. A mineralized corridor remains open in multiple directions.
2020 Drill Program
The diamond drilling program comprised 6 NQ diameter holes totalling 1,632.5m. All holes were drilled from south to north at dips ranging from -50° to -75°, with a maximum hole length of 345m. The drilling tested a strike length of 100m on three 50m spaced cross-sections to test for extensions of mineralization along strike and down dip, and to further evaluate the geological/structural interpretation.
Interpretation of Results
The geology of the immediate Ryan’s target area consists of two primary lithological packages, an upper mafic to ultramafic package comprising amphibolite and pyroxenite, and an underlying metasedimentary sequence of metaquartzite, biotite-quartz-feldspar gneiss and minor biotite schist. The contact between the two packages strikes northwest, is relatively flat-lying, and appears to be a thrust fault.
Gold mineralization is structurally controlled by brittle breccia and fracture zones with minor late quartz veining predominantly in the metaquartzite along a 100m to 125m wide east-west striking structural corridor. There is a strong association with anomalous arsenic, hydrothermal graphite and sooty pyrite demonstrating both similarities and differences to mineralization encountered elsewhere on the White Gold property, but gold grades at Ryan’s are locally much higher.
Correlating individual mineralized breccias and fractures from hole to hole is somewhat difficult, however enveloping surfaces around the highest density of mineralized structures indicates a steep southerly dip which is consistent with the interpretation based on 2019 drilling. A detailed structural interpretation utilizing core logging and oriented optical televiewer data is currently in progress and is expected to help refine the model. The mineralized zones remain open in all directions, and future drilling should continue testing along strike and down dip.
Table 1: Summary of 2020 Diamond Drilling Gold Assay Results, Ryan’s Surprise Target
Drilling Summary & Highlights
Section 574,275 E
Section 574,225 E
Hole WHTRS20D015 was drilled on cross-section 574,225 E and was designed to undercut hole WHTRS19D012 which encountered several gold zones including 2.66 g/t Au over 11.00 m from 93.00 m downhole and 3.55 g/t Au over 8.42 m from 164.58 m downhole. WHTRS20D015 intersected multiple gold zones with the most significant being 4.90 g/t Au over 2.00 m from 17.00 m downhole, including 9.10 g/t Au over 1.00 m, and 1.11 g/t Au over 13.00 m from 288.00 m downhole.
Section 574,175 E
Holes WHTRS20D016, WHTRS20D017 and WHTRS20D018 were drilled on cross-section 574,175 E representing the westernmost 2020 drilling on the Ryan’s target. Hole WHTRS20D016 intersected multiple gold zones including 1.15 g/t Au over 7.12 m from 101.88 m downhole, and 1.19 g/t Au over 22.00 m from 251.00 m downhole, including 2.16 g/t Au over 10.24 m. Hole WHTRS20D017 drilled to the north and above WHTRS20D016 also intersected multiple gold zones including 8.82 g/t Au over 1.24 m from 125.12 m downhole, 10.96 g/t Au over 3.76 m from 156.00 m downhole, and 1.43 g/t Au over 17.00 m from 185.00 m downhole including 2.46 g/t Au over 9.00 m. Hole WHTRS20D018 drilled between holes WHTRS20D016 and WHTRS20D017, and intersected the most significant gold mineralization encountered to date at Ryan’s returning 8.69 g/t Au over 12.30 m from 187.70 m downhole, including 13.12 g/t Au over 7.45 m.
Table 2: Summary of 2020 Diamond Drill Hole (DDH) Collar Data, Ryan’s Surprise Target
The reported work was completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standards, blanks and duplicates into the sample stream.
About White Gold Corp.
(1) See Comstock Metals Ltd. technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, available on SEDAR.
Cautionary Note Regarding Forward Looking Information
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:
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