White Gold Corp. Encounters Highest Gold Values to Date and Doubles Strike Length of the Newly Discovered Gold-In-Soil Anomaly to 2.2 km on the QV Property and Prepares for Maiden Diamond Drill Program
White Gold Corp. encountered its highest gold values to date, extending the gold-in-soil anomaly on its QV property to 2.2 km. The anomaly, located 9 km northwest of the VG deposit, shares similarities with the VG and Golden Saddle deposits of the company’s flagship White Gold Project in Yukon, Canada. The 2024 soil sampling program refined this anomaly with 787 samples, registering gold values from < 0.5 ppb to a maximum of 600 ppb. A significant 29 samples exceeded 80 ppb, showing high continuity of gold values. Supported by strategic partners like Agnico Eagle Mines and Kinross Gold, the company plans a maiden diamond drill program to start soon, testing up to 800 m of strike length.
White Gold Corp. ha registrato i valori di oro più alti mai ottenuti fino ad oggi, estendendo l'anomalia di oro nel suolo nella sua proprietà QV a 2,2 km. L'anomalia, situata a 9 km a nord-ovest del deposito VG, presenta somiglianze con i depositi VG e Golden Saddle del progetto White Gold, principale iniziativa dell'azienda, situato nello Yukon, Canada. Il programma di campionamento del suolo del 2024 ha affinato questa anomalia con 787 campioni, registrando valori d'oro da < 0,5 ppb fino a un massimo di 600 ppb. Un numero significativo di 29 campioni ha superato gli 80 ppb, dimostrando un'alta continuità dei valori d'oro. Supportata da partner strategici come Agnico Eagle Mines e Kinross Gold, l'azienda prevede di avviare presto un programma di perforazione con diamante, testando fino a 800 m di lunghezza di strike.
White Gold Corp. ha encontrado sus valores de oro más altos hasta la fecha, extendiendo la anomalía de oro en el suelo en su propiedad QV a 2.2 km. La anomalía, ubicada a 9 km al noroeste del depósito VG, comparte similitudes con los depósitos VG y Golden Saddle del proyecto insignia White Gold de la compañía en Yukón, Canadá. El programa de muestreo de suelo de 2024 refinó esta anomalía con 787 muestras, registrando valores de oro desde < 0.5 ppb hasta un máximo de 600 ppb. Un significativo número de 29 muestras superaron los 80 ppb, mostrando una alta continuidad en los valores de oro. Respaldada por socios estratégicos como Agnico Eagle Mines y Kinross Gold, la compañía planea iniciar un programa de perforación con diamante, probando hasta 800 m de longitud de strike.
화이트골드 코퍼레이션은 현재까지의 최고 금 값을 기록하여 QV 부지에서 금-토양 이상이 2.2km까지 확장되었습니다. 이 이상은 VG 매장량에서 북서쪽으로 9km 떨어진 곳에 위치하며, 회사의 대표적인 화이트골드 프로젝트의 VG 및 골든 새들 매장량과 유사점을 공유합니다. 2024년 토양 샘플링 프로그램은 787개의 샘플로 이 이상을 정제하여, 금 값이 < 0.5 ppb에서 최대 600 ppb에 이르는 것으로 기록되었습니다. 이 중 29개의 샘플은 80 ppb를 초과하여 금 값의 높은 연속성을 보여주었습니다. 아그니코 이글 마인즈 및 킨로스 골드와 같은 전략적 파트너의 지원을 받아, 회사는 곧 시작될 다이아몬드 드릴 프로그램을 계획하고 있으며, 최대 800m의 스트라이크 길이를 테스트할 예정입니다.
White Gold Corp. a rencontré ses plus hautes valeurs en or à ce jour, étendant l'anomalie d'or dans le sol sur sa propriété QV à 2,2 km. L'anomalie, située à 9 km au nord-ouest du dépôt VG, présente des similitudes avec les dépôts VG et Golden Saddle du projet phare White Gold de l'entreprise dans le Yukon, Canada. Le programme d'échantillonnage du sol 2024 a affiné cette anomalie avec 787 échantillons, enregistrant des valeurs d'or allant de < 0,5 ppb à un maximum de 600 ppb. Un nombre significatif de 29 échantillons ont dépassé 80 ppb, montrant une forte continuité des valeurs d'or. Soutenue par des partenaires stratégiques tels qu'Agnico Eagle Mines et Kinross Gold, l'entreprise prévoit de lancer prochainement un premier programme de forage au diamant, testant jusqu'à 800 m de longueur de strike.
White Gold Corp. hat bisher die höchsten Goldwerte verzeichnet und die Gold-im-Boden-Anomalie auf ihrem QV-Grundstück auf 2,2 km ausgeweitet. Die Anomalie, die 9 km nordwestlich des VG-Vorkommens liegt, weist Ähnlichkeiten mit den VG- und Golden Saddle-Vorkommen des Flaggschiffprojekts White Gold des Unternehmens im Yukon, Kanada, auf. Das Bodenprobenprogramm von 2024 verfeinerte diese Anomalie mit 787 Proben, die Goldwerte von < 0,5 ppb bis maximal 600 ppb registrierten. Eine signifikante Anzahl von 29 Proben überschritt 80 ppb und zeigt eine hohe Kontinuität der Goldwerte. Unterstützt von strategischen Partnern wie Agnico Eagle Mines und Kinross Gold plant das Unternehmen, bald ein erstes Diamantbohrprogramm zu starten, das eine Streckenlänge von bis zu 800 m testen wird.
- Encountered highest gold values to date.
- Extended gold-in-soil anomaly to 2.2 km on QV property.
- 29 out of 787 samples showed gold values greater than 80 ppb.
- Maiden diamond drill program to test 800 m of strike length.
- None.
TORONTO, Aug. 01, 2024 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the "Company") is pleased to announce that infill and extension soil sampling has refined and extended the newly discovered gold-in-soil anomaly on its QV property to 2.2 km along strike (Figure 1). The soil anomaly is located approximately 9 km northwest of the VG deposit and appears to be similar in character to the VG and Golden Saddle deposits which form part of the Company’s flagship White Gold Project. The White Gold Project is located in west-central Yukon, Canada, and comprises 16 million tonnes averaging 2.23 g/t Au for 1,152,900 ounces of gold in the Indicated Resource category and 19 million tonnes averaging 1.54 g/t Au for 942,400 ounces of gold in the Inferred Resource category (1). These new results form part of the Company’s 2024 exploration program on its extensive and underexplored land package in the emerging White Gold District, Yukon, supported by strategic partners including Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC).
“We are quite encouraged by these latest results from this newly discovered target. Our early-season soil sampling program has considerably extended the strike length of the target by over 1 km to 2.2 km and provided even greater continuity of high gold values. Furthermore, the size, tenor, geochemical and geomagnetic characteristics of this target are also similar to our flagship Golden Saddle and VG deposits and represents exciting expansion potential with a maiden diamond drill program set to commence in the coming weeks” stated David D’Onofrio, Chief Executive Officer.
Shawn Ryan, Co-Founder and Chief Technical Advisor stated, “This newly discovered soil anomaly on the QV property is an interesting grass roots discovery for the Company as it reminds me of the anomaly that led to the discovery of the Golden Saddle and QV deposits which are close by and share a lot of similarities. Soil sampling followed by our systematic evaluation has proven very effective in our district and we are looking forward to drilling this new target.”
Maps and images accompanying this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
Highlights
- 2024 soil survey consisted of 787 samples (Figure 2).
- The surface expression of the gold-in-soil anomaly strikes east-northeast, measures 350 m wide x 2.2 km long, and is open along strike to the west and east.
- Gold values range from < 0.5 ppb Au to a maximum of 600 ppb Au, with 29 samples returning greater than 80 ppb Au (approximately 99th percentile) in the range of 82.3 to 600 ppb Au.
- The gold anomaly is associated with anomalous tellurium and low arsenic in soils, which represents a geochemical signature similar to the VG and Golden Saddle deposits which both form part of the Company’s flagship White Gold Project.
- Magnetic and LiDAR data reveals that the newly identified soil anomaly is hosted within a similar structural environment as the VG and Golden Saddle deposits.
- 2D inversions of recently completed VLF-EM survey lines indicate the gold-in-soil anomaly is associated with a moderately north-dipping hanging wall – footwall contact zone.
- A maiden diamond drill program is currently being planned and expected to commence in the coming days.
2024 Soil Sampling Program
The 2024 soil survey consisted of 787 samples which included both infill and extension samples. The purpose of this year’s sampling was to provide better resolution over the main portion of the anomaly which was identified in 2023, and to extend the anomaly along strike to the west and east. Infill soil samples are spaced at 25 m on 50 spaced survey lines, and extension samples are spaced at 50 m on 100 spaced survey lines. The company has collected approximately 1,000 soil samples over the past two field seasons in defining this new target. Gold values range from < 0.5 ppb Au to a maximum of 600 ppb Au, with 29 samples returning greater than 80 ppb Au (approximately 99th percentile) in the range of 82.3 to 600 ppb Au. The anomaly also has associated anomalous tellurium. Arsenic in soil values is low, and overall, the signature appears to be similar to the VG and Golden Saddle deposits suggesting a similar style of mineralization. The surface expression of the gold-in-soil anomaly strikes east-northeast, measures 350 m wide x 2.2 km long, and is open along strike to the west and east towards the previously known Korat Diego anomaly.
Magnetic data reveals that the newly identified soil anomaly is situated near a mafic belt with a NNW-SSE orientation, similar to the structural context of the VG, Golden Saddle, and Ryan’s Surprise deposits located along strike approximately 9 to 19 km to the SE and SSE. The highly magnetic mafic belts are observed to occupy the hanging wall of E- to ENE-dipping, district-scale thrust faults, with gold mineralization at the VG, Golden Saddle, and Ryan's Surprise deposits occurring where intersected by significant NE- or NW-trending faults. At the newly identified soil anomaly, anomalous gold is localized at a fault intersection of a similar structural and magnetic pattern to those of the mentioned deposits and is associated with a semi-circular magnetic high approximately 1 km in diameter.
2D inversions of recently completed VLF-EM survey lines over the target indicate the gold-in-soil anomaly is associated with a moderately north-dipping hanging wall – footwall contact zone.
The Company is currently planning a maiden diamond drill program on the target which will consist of a minimum of 1200 m of drilling that will test up to 800 m of strike length.
About the QV Property
The QV property comprises 1003 quartz claims which over an area of 19,671 hectares and hosts the VG deposit, which hosts an open pittable Inferred resource of 287,100 oz gold at 1.53 g/t(1) and forms part of the Company’s flagship White Gold Project. The mineralization is hosted along a N-E trending, gently south dipping structural zone that has been traced for over 700 m at surface and consists of disseminated to vein-controlled pyrite with brecciation, stockwork quartz-carbonate veining, and sericite alteration. The VG shares strong similarities to the Golden Saddle deposit located 11 km south of the VG deposit on the White Gold property both in structural setting as well as mineralization style and is open along strike and at depth. The property also hosts several other prospective targets which have received limited exploration work and offer potential for additional discoveries.
Soil Sampling Methods and Analysis
The 2024 QV property soil geochemistry survey was contracted to GroundTruth Exploration Inc. of Dawson City, Yukon. Field technicians navigated to pre-planned sample sites using handheld GPS units and collected C-Horizon soil samples using an Eijklcamp brand hand auger at a depth of between 20 cm and 110 cm. Typically, 400 to 500 g of soil is placed in a pre-labeled bag, and a field duplicate sample is taken once every 25 samples. The GPS location of the sample site is recorded with the GPS unit, and the waypoint location is labeled with the project name and the sample identification number. A weather-proof handheld device equipped with a barcode scanner is used in the field to record the descriptive attributes of the sample collected, including sample identification number, soil colour, soil horizon, slope, sample depth, ground and tree vegetation, sample quality, and any other relevant information.
Analytical work for the 2024 soil geochemistry surveys was carried out at Bureau Veritas (BV) Canada, with preparation completed at their Whitehorse, YT facility and analysis at their hub laboratory located in Vancouver, BC. All soil samples were assayed for gold and a 37 multi-element suite using 0.25g aqua-regia digestion and ICP-MS analysis (Code AQ201). BV is an ISO 9001:2008 accredited facility, certificate number FM63007.
About White Gold Corp.
The Company owns a portfolio of 15,876 quartz claims across 26 properties covering approximately 315,000 hectares (3,150 km2) representing approximately
(1) See White Gold Corp. technical report titled “2023 Technical Report for the White Gold Project, Dawson Range, Yukon, Canada ”, Effective Date April 15, 2023, Report Date May 30, 2023, NI 43-101 Compliant Technical Report prepared by Dr. Gilles Arseneau, P.Geo., available on SEDAR+.
(2) See Newmont Corporation Form 10-K: Annual report for the year ending December 31, 2023, in the Measured, Indicated, and Inferred Resources section, dated February 29, 2024, available on EDGAR. Reserves and resources disclosed in this Form 10-K have been prepared in accordance with the Regulation S-K 1300, and do not indicate NI43-101 compliance.
(3) See Western Copper and Gold Corporation technical report titled “Casino project, Form 43-101F1 Technical Report Feasibility Study, Yukon Canada”, Effective Date June 13, 2022, Issue Date August 8, 2022, NI 43-101 Compliant Technical Report prepared by Daniel Roth, PE, P.Eng., Mike Hester, F Aus IMM, John M. Marek, P.E., Laurie M. Tahija, MMSA-QP, Carl Schulze, P.Geo., Daniel Friedman, P.Eng., Scott Weston, P.Geo., available on SEDAR+.
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.
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:
The expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; the receipt of all applicable regulatory approvals for the Offering; 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; ongoing uncertainties relating to the COVID-19 pandemic; and those factors described under the heading “Risks Factors” in the Company’s annual information form dated July 29, 2020 available on SEDAR+. 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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
For Further Information, Please Contact:
Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca
Request Meeting: https://calendly.com/meet-with-wgo/15min
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/ac0d3255-8f52-45f1-a923-82ca73fb9c8b
https://www.globenewswire.com/NewsRoom/AttachmentNg/b4577a98-64b7-49c9-854b-e8870b141d70
FAQ
What is the latest gold value encountered by White Gold Corp (WHGOF)?
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Which companies are supporting White Gold Corp’s (WHGOF) exploration program?
What is the strike length targeted for the maiden diamond drill program?
How many samples showed high gold values in the 2024 soil sampling program by White Gold Corp (WHGOF)?
