31.12.21 Quarterly Activities & Cashflow Report
Ballarat, Jan 27, 2022 AEST (ABN Newswire) - White Rock Minerals Ltd (
ASX:WRM) (WRMCF:OTCMKTS) announce the Quarterly Activities Report - for the Quarter ended 31 December 2021.
Key Highlights
Woods Point Gold Project, Victoria - Morning Star Gold Mine High grade gold intersections from Kenny's Reef:-
- 1.0 metre at 34.2g/t gold from 19.8 metres (21L7006),
- 1.1 metres at 21.8g/t gold from 6.9 metres (21L7007),
- 0.3 metres at 320g/t gold from 14.2 metres (21L7008),
- 2.2 metres at 27.5g/t gold from 43.8 metres (21L7012),
- 4.1 metres at 21.2g/t gold from 52.0 metres (21L7012), and
o Including 0.6 metres at 66.4g/t gold from 52.6 metres, and
o Including 0.7 metres at 60.6g/t gold from 55.4 metres.
- 1.5 metres at 21.9g/t gold from 8.3m (21L7021),
o Including 0.4 metres at 64.6/t gold from 9.4 metres.
Two diamond drill rigs currently drilling the Gap Zone and Dickenson South targets, with initial assays highly encouraging. Significant results (true width) include:-
- 0.4 metres at 29.8g/t gold from 193.2 metres (21SDS001) in the Whitelaw Reef
o including 0.2 metres at 51.4g/t gold from 193.2 metres,
- 0.6 metres at 21.5g/t gold from 54.8 metres (21SDS003) in the Whitelaw Reef,
- 0.4 metres at 12.7g/t gold from 117.7 metres (21SDS005) in the Exhibition Reef, and
- 3.7 metres at 6.1g/t gold from 59.1 metres (21SDS006) in the Age of Progress Reef
o Including 1.8 metres at 10.0g/t gold from 59.5 metres
Woods Point Gold Project, Victoria - Regional
Review of data across the Company's strategic 660km2 tenement package occurred during the Quarter. The 1.5km long Wallaby-Eldorado-Shakespeare trend has been identified as a high priority exploration target for a 2022 regional exploration program.
Red Mountain silver-zinc VMS and IRGS Project, Alaska
At the Kiwi VMS prospect, rock chip assay results from massive sulphide float returned up to 16% copper, 8% zinc and 316g/t silver. A fixed loop electromagnetics geophysical survey has identified a strong (conductivity thickness of 40 siemens) and discrete 400 metre long conductor proximal to the high-grade copper rock chip float. The source of the conductivity response is potentially a copper-rich massive sulphide deposit that is drill-ready.
Mt Carrington gold and silver Project, NSW
Thomson Resources progressed the EIS and DFS under the Earn-In joint venture with the Company.
Corporate
Successful completion of the Placement to institutional and sophisticated investors, with 9,375,000 shares issued at an issue price of $0.24 per Share, raised $2.25 million. A 1 for 4 pro-rata non-renounceable Entitlement Offer of fully paid ordinary shares is currently open to existing eligible shareholders, seeking to raise up to $9.1 million, closing on Friday 28 January 2022 at 5pm.
To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/4S5DA32C
About White Rock Minerals Ltd
White Rock Minerals Ltd (ASX:WRM) (OTCMKTS:WRMCF) is a diversified explorer and near-stage producer, headquartered in Ballarat, Victoria. The Company's flagship exploration project is Red Mountain in central Alaska. At Red Mountain, there are already two high grade zinc - silver - gold - lead VMS deposits, with an Inferred Mineral Resource of 9.1 million tonnes @ 609g/t AgEq / 13% ZnEq. The Company is also exploring its recently discovered large intrusion related gold anomaly at Last Chance, also located in the Tintina gold belt of Alaska, home to multi-million gold ounce deposits like Pogo, Fort Knox and the Donlin Project. The Company also has the Mt Carrington project, located near Drake, in Northern NSW, which is a near-production precious metals asset with a resource of 341,000 ounces of gold and 23.2 million ounces of silver on an approved mining lease, and with a Gold First PFS and JORC Reserve.
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