White Metal Resources to Begin Exploration Programs on Several Ontario Projects
TSX VENTURE: WHM
Thunder Bay, Ontario--(Newsfile Corp. - April 24, 2019) - White Metal Resources Corp. (TSXV: WHM) ("White Metal" or the "Company") is pleased to announce that it will soon begin its exploration programs on its Ontario projects. The projects include the English Bay IOCG property, the Big Bend and 11/17 Ni-Cu-PGE properties, the Iris Lake Gold project, and the Far Lake Copper property. The first round of work on these projects is planned to include prospecting, mapping, and soil sampling where it proves favourable. Second phase follow up programs are planned for late summer or early fall and may include trenching and drilling of any favourable targets outlined by the Phase 1 program.
The English Bay Property, located approximately 200 km north of the Great Lakes port City of Thunder Bay, was acquired 100% through staking. Mapping by the Ontario Geological Survey (C.A MacDonald, Open File Report 6136, 2004) suggested that the Mesoproterozoic English Bay Porphyry ("EBP") fits the Iron-Oxide-Copper-Gold ("IOCG") deposit model, including breccias with hematite, epidote, sericite, and silica alteration. In addition, U/Pb zircon age dating by Davis and Sutcliffe (1985) returned an estimated crystallization age of 1537+10/-2 Ma, pointing out that this is approximately the same age as the Olympic Dam Porphyry in Australia, the type-locality for the IOCG model.
Drilling by East West Resources between 2002 and 2006 intercepted elevated tin (Sn) of up to 0.1% Sn, 0.05% Ta (tantalum), 0.06% Nb (niobium), and 10 g/t Ag (silver) over 3.0 metres in diamond drill hole HAV02-03. Also noted in diamond drill hole HAV05-09 was sulfide-rich iron formation with assays of up to 39.9 g/t Ag. These assays are interpreted to indicate the IOCG potential of the English Bay Porphyry.
The Company is planning a Phase 1 work program at English Bay to include mapping and prospecting of favourable target areas followed by a Phase 2 program which is planned to include trenching and drilling of any favourable targets developed during the Phase 1 program.
The 11/17 and Big Bend properties, acquired 100% through staking, are located approximately 100 km west of the City of Thunder Bay. The properties were acquired for their magmatic sulphide (copper, nickel, platinum, palladium) potential on the basis of a magnetic high and coincident magnetic low which are interpreted to reflect a mafic-ultramafic intrusive body. The properties are situated within Quetico sedimentary rocks and coincident with the Quetico Fault. The area is known to host numerous showings of copper, nickel, platinum, and palladium and for the most part are hosted in mafic-ultramafic intrusions coincident with magnetic highs.
The Company is planning a Phase 1 work program on these properties to include mapping and prospecting, followed by a Phase 2 program planned to include trenching and drilling of any favourable targets outlined from the Phase 1 program.
The Far Lake Copper property, acquired 100% by White Metal through staking, is located approximately 100 km west of the City of Thunder Bay. The Far Lake property was staked because of copper mineralization discovered by White Metal personnel while driving a new logging road in the area. The copper showing consists of massive pods of chalcopyrite hosted in a silicified breccia, Initial work traced the mineralization for about 400 metres and exposed widths of 4 to 5 metres; the copper zone remains open to the north and south. Recent channel sampling on the showing assayed up to 3.5% Cu over 3.0 metres. Phase 1 work is planned to include expanding the copper mineralization to the north and south through prospecting, geophysics, and geological mapping/sampling. A Phase 2 work program is planned to include trenching and drilling of any favourable targets outlined in Phase 1.
The Iris Lake Gold property, located about 150 km west of the City of Thunder Bay, is situated in the Shebandowan Greenstone Belt, and located just north of the former producing Coldstream Copper Mine (produced 102 million pounds of copper in the 1960s). The Property is also just to the north of the East Coldstream Gold Deposit (763,276 oz Au Inferred) and the Moss Lake Gold Deposit (1.5 million oz Au.). Former owner Newmont Mining drilled a total of 12 diamond drill holes in the area of Iris Lake between 1987 and 1990 and early 1990 reporting drill intercepts of 8.9 g/t Au over 0.28 metres and 7.1 g/t Au over 1.5 metres. Further to the north by approximately 500 metres, Newmont reported a drill core assay of 18.4 g/t Au over 0.57 metres. White Metal sees great potential in this area to expand the areas of known gold mineralization. Phase 1 of the planned work program is to include prospecting and mapping in areas of known gold, with a Phase 2 program planned to include diamond drilling on any favourable targets outlined in Phase 1.
Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Exploration and a Director of White Metal, who is a Qualified Person under the definitions established by the National Instrument 43-101.
About White Metal Resources Corp (TSXV: WHM):
White Metal Resources Corp. is a junior exploration company exploring in Canada. For more information please visit the Company's website at www.whitemetalres.com.
On behalf of the Board of Directors of White Metal Resources Corp.
Michael Stares, Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836 Fax (807) 475 7200