Drilling Commences at the Red Mountain High-Grade Zinc VMS Project
Ballarat, June 3, 2019 AEST (ABN Newswire) - Diversified explorer and near-stage producer, White Rock Minerals Ltd (
ASX:WRM) ("White Rock" or the "Company") in conjunction with its joint venture partner Sandfire Resources NL (ASX:SFR) (Sandfire) is pleased to announce that its 2019 exploration program is now underway and drilling has commenced at the Company's globally significant Red Mountain high-grade zinc and precious metals VMS project in central Alaska (Red Mountain Project). There are already two high grade deposits at the Red Mountain Project, with an Inferred Mineral Resource(see Note 1 below) of 9.1 million tonnes @ 12.9% ZnEq(see Note 2 below) for 1.1 million tonnes of contained zinc equivalent.
HIGHLIGHTS
- The 2019 exploration field program is now underway at White Rock's high-grade zinc and precious metals VMS Project in Alaska.
- Camp established and 20 personnel mobilised to site.
- On-ground geological reconnaissance mapping and geochemical sampling started.
- Diamond drilling has commenced.
The field program includes:-
- A diamond drill program to follow-up on the successful discovery of new massive sulphide mineralisation at the Hunter prospect in 2018(see Note 3 below);
- A diamond drill program to test the best of the regional targets defined by the multidisciplinary use of airborne EM, the 2018 stream geochemical anomalies that were identified(see Note 4 below), new satellite defined alteration, whole rock lithogeochemical alteration, on ground soil & rock geochemistry and on ground electrical geophysics;
- Selective down hole electromagnetics surveys to identify off-hole conductivity anomalies for follow-up drill testing;
- Detailed on-ground geological reconnaissance and soil geochemical sampling across regional target areas using a portable XRF analyser to deliver rapid target definition; and
- Detailed electrical ground geophysics (CSAMT and MT) across the regional targets replicating the most rapid field acquisition electrical technique that successfully mapped conductivity associated with mineralisation at both of the two existing deposits: Dry Creek and WTF.
The first crews have mobilised with the camp now established (see Figure 1 in link below) and the field and drilling crews now occupying this camp. Diamond drilling is also underway (see Figure 2 in link below).
The two geological crews have commenced reconnaissance mapping and geochemical sampling of the new target areas identified from last year's field season, with the initial priorities being follow-up of stream geochemical anomalies along the Glacier Trend and in the Platypus area west of the Dry Creek deposit, where one of the stream samples returned a 1% zinc anomaly(see Note 4 below) (see Figure 3 in link below).
The surface geophysics crew is scheduled to commence early June.
White Rock's Managing Director, Matthew Gill said "We have got off to a great start with our 2019 exploration program, having just completed our first ever modern, high-powered airborne EM survey over our 475km2 strategic belt-scale regional tenement package. We have now safely and efficiently mobilised our field crews and have boots on the ground exploring the best of our many identified exploration targets and the drill bit is now also turning."
Notes:
1 Refer ASX Announcement 26th April 2017 "Maiden JORC Mineral Resource, Red Mountain".
2 ZnEq = Zinc equivalent grades are estimated using long-term broker consensus estimates compiled by RFC Ambrian as at 20 March 2017 adjusted for recoveries from historical metallurgical test work and calculated with the formula: ZnEq =100 x [(Zn% x 2,206.7 x 0.9) + (Pb% x 1,922 x 0.75) + (Cu% x 6,274 x 0.70) + (Ag g/t x (19.68/31.1035) x 0.70) + (Au g/t x (1,227/31.1035) x 0.80)] / (2,206.7 x 0.9). White Rock is of the opinion that all elements included in the metal equivalent calculation have reasonable potential to be recovered and sold.
3 Refer ASX Announcement 20th August 2018 "High Grade Zinc Discovery at the Hunter Prospect, Red Mountain".
4 Refer ASX Announcement 4th December 2018 "New Geochemical Anomalies Associated with VMS Alteration, Red Mountain".
To view figures, please visit:
http://abnnewswire.net/lnk/Z4XA91KO
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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