WRM - Airborne Geophysics Survey Commences at Red Mountain
Ballarat, April 26, 2019 AEST (ABN Newswire) - Diversified explorer and near-stage producer, White Rock Minerals Ltd (
ASX:WRM), in conjunction with its joint venture partner Sandfire Resources NL (ASX:SFR) (Sandfire) is pleased to announce the commencement of a comprehensive airborne electromagnetic (EM) geophysical survey being flown at the Company's globally significant Red Mountain high-grade zinc and precious metals VMS project in central Alaska.
Highlights
- White Rock's comprehensive exploration program for 2019 has started with the commencement of an airborne electromagnetic geophysical survey,
- Exciting application of this modern technology,
- This programme is the next step in identifying key drill targets after a successful drilling campaign in 2018 which included intersections1 of 4.7m @ 19.5% zinc, 7.8% lead, 466g/t silver, 6.9g/t gold and 1.5% Cu and 4.3m @ 4.8% zinc, 2.3% lead, 1,435g/t silver, 2.2g/t gold and 0.5% Cu.
White Rock's Managing Director, Matthew Gill said that the airborne EM survey, which commenced flying over the Easter weekend, is an exciting step forward for the project and signifies the start of the summer field season in Alaska.
"This is the first time that a modern technology time-domain airborne EM survey has been used at Red Mountain to explore for massive sulphide mineralisation (Figure 1 in link below). The previous survey done by the Alaskan government in the mid 2000's used shallow looking frequency domain technology to map the surface geology," he said.
"We are really pleased to be using a modern, high-powered technique over our 475km2 strategic belt-scale regional tenement package2 as the first step in our comprehensive exploration program for 2019 (Figure 2)."
Mr Gill said that the 3,000 line kilometre SkyTEM airborne electromagnetic (AEM) survey is capable of identifying conductivity anomalies to depths of 300 metres below the surface that could fast-track a significant new discovery.
This exploration season will be the first in the joint venture relationship between White Rock and Sandfire, with Sandfire having recently signed an earn-in and joint venture agreement to work with White Rock on it's exciting Alaskan prospect3. Sandfire's first year commitment under this JVA is to spend a minimum of A$6M on the project, and a further minimum of A$14M over the following three years.
"Having the technical and financial support of Sandfire Resources - a very successful explorer and developer of VMS deposits - is a strong endorsement to the quality and potential of our Red Mountain Project," said Mr Gill.
"The regional targets identified by this EM survey will form a key part of our comprehensive exploration program this field season. Other activities this season will involve using satellite spectral analysis, and on-ground geological reconnaissance and soil sampling. These activities will compliment planned electrical ground geophysics (CSAMT and MT) and a diamond drill program to follow-up the successful discovery at the Hunter prospect in 20184 and to test the best of the regional targets defined by this cutting edge multidisciplinary use of airborne EM, stream geochemical anomalies, new satellite defined alteration, whole rock lithogeochemical alteration, on-ground soil and rock geochemistry and on-ground electrical geophysics," said Mr Gill.
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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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