White Metal to Complete a High Resolution Aeromagnetic Gradiometer and Digital VLF-EM Survey on the Startrek Gold-Antimony Property, Newfoundland
Thunder Bay, October 17, 2019 - White Metal Resources Corp. (TSXV: WHM) ("White Metal" or the "Company") is pleased to announce that having recently completed a reconnaissance ground VLF-EM and magnetic survey, the Company has applied for a permit to complete a 402 line kilometre, fixed-wing, high resolution aeromagnetic gradiometer and digital VLF-EM survey over the Startrek Gold-Antimony Property (the "Property" or "Startrek"), located about 20 km east of Gander in Central Newfoundland. The proposed geophysical survey will utilize Terraquest Ltd.'s new Matrix Digital VLF-EM frequency system, coupled with their high resolution horizontal magnetic gradiometer, to map new and refine known geological structures (faults and shear zones) which are recognized as hosting gold and antimony mineralization on the Property. This type of survey can also delineate bedrock conductors (i.e., semi-massive to massive sulphides) and may lead to new structural targets for ground truthing and follow-up exploration.
Michael Stares, President & CEO of White Metal, commented, "I am very pleased with the results of the ground orientation VLF-EM and magnetic survey as there had been no systematic geophysical surveys over the Property, apart from a couple of lines of magnetic survey by Sokoman Minerals a number of years ago. The ground VLF-EM performed very well and has shown itself to be an effective tool in delineating known gold-bearing structures associated with known gold occurrences, as well as giving us knew targets. It's important to note that this Property has very little outcrop, making prospecting and surface sampling near-impossible. Utilizing the very latest technology in the airborne digital VLF-EM system from Terraquest, we are confident that it will provide us with much needed additional subsurface information, leading to new exploration targets".
The decision to fly the airborne geophysical survey was made following the positive results from a recently completed Mag-VLF-EM reconnaissance ground survey over the Startrek. The ground survey was effective in delineating structures directly associated with known gold and/or antimony occurrences, providing additional information on the structural trends leading away from known showings. Seven north-northwest lines, up to 500 metres apart and totalling about 12 line-kilometres, were oriented perpendicular to know gold-hosting structures and surveyed using pace and compass and GPS methods for survey station control. For the most part, the magnetic signature over the known gold showings showed a mixed response with the occurrences correlating with either magnetic highs or magnetic lows or near the margins of the anomalies. A more detailed magnetic survey, such as that proposed, should allow for a better understanding of the correlation between magnetics, structures and know gold occurrences and trends. For further details and survey maps please visit the Company website (www.whitemetalres.com).
The VLF-EM ground survey was effective in delineating known gold-bearing structures which correlated very well with known gold and/or antimony occurrences. The main structure in the Eastern Zone was traced along strike for several hundred metres and the main structure in the Central Zone, where recent White Metal grab rock sampling yielded up to 40.9 g/t Au, 6.7 g/t Ag, and 2.68% Sb (see Company news release, July 30, 2019), was also delineated by the VLF-EM survey. The Western Zone and associated structure, from which a previous grab rock sample collected by White Metal assayed 3.6 g/t Au and 0.83% Sb (see Company news release, July 30, 2019), correlated well with the VLF-EM survey results, defining the structure along strike for several hundred metres.
The Startrek Gold-Antimony Property
The Startrek is located in Central Newfoundland, about 20 km east of the town of Gander and is under option from Sokoman Minerals (see White Metal news release, December 19, 2018) and is interpreted to be host to a low-sulphidation epithermal gold system. In July 2019 (see Company news release, July 30, 2019), White Metal completed a re-sampling and reconnaissance prospecting program during which the Company examined three northeast-trending zones, which from northwest to southeast are the Western, Central, and Eastern zones. These three zones (trends) were previously identified by Rubicon Minerals Corp. (2001 to 2005). A fourth new zone, the South Zone, located on Highway 1 about 2.7 km southwest of the south end of the Central Zone, has seen no historical work and is considered a new discovery. The Phase 1 work program focused on prospecting and relocating of previous trenching and drill hole collar locations, as well as follow up work on numerous gold and antimony showings discovered by previous operator Rubicon Minerals Corp. (2001 to 2005).
South Zone: this zone is hosted on or near the contact between sedimentary rocks and Devonian age Gander Lake Granite and is described as granite with quartz flooding and minor sulfides and fluorite veining within the granite and quartz veins. A mineralized boulder was also located, believed to be of local origin, described as a hydrothermal, quartz-cemented breccia, typical of epithermal systems, and containing altered clasts of sedimentary rocks. The clasts having been altered to various clay minerals and cemented together by quartz that display chalcedonic, vuggy and comb textures. Sphalerite (ZnS) and a silver-grey mineral was also observed which is believed to be a silver (tennantite-tetrahedrite series) reflected in the high silver content of the sample (138 g/t Ag); gold was also elevated up to 252 ppb Au. Only three samples were collected from this area and the Company believes that further work is warranted to properly evaluate this zone, including delineating the contact area between the granite and sedimentary rocks and finding the source of the mineralized boulder.
Western Zone: this zone is described as quartz stockwork and veins that at times, crosscut local stratigraphy. Rubicon reported anomalous gold in rock grab samples occurring periodically over the 2 km strike length. Numerous small folds were observed in the sedimentary host rock but due to the thin cover it was difficult to determine if there was epithermal veining present. Rock grab sampling (nine samples) by White Metal returned assays ranging from <5 ppb to 3582 ppb Au (3.6 g/t Au). This area contained up to 0.83% Sb (antimony)
Central Zone: White Metal personnel collected 28 rock grab samples along the Central Zone trend which was previously trenched by Rubicon. One grab sample assayed 40942 ppb Au (40.9 g/t Au) and 6700 ppb Ag (6.7 g/t Ag). Assays in general range from <5 ppb Au to 40942 ppb Au, below detection to 2.68% Sb, and below detection to >1000 ppm As (arsenic). The intriguing feature about this horizon is the epithermal vein system contains geyserite (opaline silica), lattice-type veining, and fluorite in the historical Rubicon trenches. The epithermal veins can be traced for approximately 2 km along strike. The Company believes that given the high frequency of anomalous gold and intensity of epithermal veining in the trenches, that further work is warranted.
Eastern Zone: this zone can be traced intermittently for 2 km and is described as intensely silicified with tourmaline and chlorite alteration, abundant arsenic and anomalous tungsten (W) and gold. This zone contains about 5% outcrop exposure. Two areas within this zone, Garlic Hill and Creek One, were visited by White Metal personnel and 13 rock grab samples were collected. Assays range from 12 ppb to 3.5 ppb Au and average 130 ppb Au. At Garlic Hill, a 10 to 12 metre-wide zone of silicification contains abundant arsenic and returned assays up to 305 ppb Au. The Creek One area appears to be several metres wide but contacts with the country rock could not be located due to overburden. Given the limited work in this poorly exposed area (<5% outcrop), the Company believes that this zone holds high potential for a new gold discovery and follow up work is planned.
White Metal is actively looking for a partner to advance this prospect.
Also, the Company would like to report that it has terminated the Gunners Cove Option on the Gunners Cove Gold Property, Newfoundland.
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.
White Metal Resources Corp. (TSXV: WHM) is a junior exploration company exploring for gold and base metals in Canada and internationally.
For more information you can visit the company's Web Page at www.whitemetalres.com.
On behalf of the Board of Directors of White Metal Resources Corp.
"Michael Stares"
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:
Michael Stares
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836 Fax (807) 475 7200
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48842