WRM Red Mountain - Drilling Pursues a Big Deposit Discovery
Ballarat, July 24, 2019 AEST (ABN Newswire) - White Rock Minerals Ltd (
ASX:WRM) is pleased to provide an update on the 2019 exploration program underway 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 of 9.1 million tonnes @ 12.9% ZnEq for 1.1 million tonnes of contained zinc equivalent.
Summer field exploration activities commenced in late May with on-ground activities including surface reconnaissance mapping, surface geochemical sampling (soils and rock chips), ground electrical geophysics (MT and CSAMT), downhole EM surveys and diamond drilling.
Final data from the 500km2 airborne electromagnetic (AEM) geophysical survey, which was flown in April and May this year, has now been received (Figure 1 in link below) and is being integrated with surface geochemistry to prioritise a number of identified VMS targets for drill testing.
Results from the AEM survey show a signature conductivity response at both of the two known high-grade massive sulphide deposits at Dry Creek and WTF. This knowledge is now being used to search for similar look alike responses elsewhere within the Company's tenement package.
Figures 2 & 3 in link below highlight the discrete nature of the conductivity anomalies, with the more subdued conductivity response considered one of the distinguishing features associated with mineralisation versus the stronger conductivity response typically associated with graphitic units within the stratigraphic sequence. The graphitic unit at the base of the Sheep Creek Member is a distinctive marker horizon along the northern limb of the targeted syncline representing an equivalent horizon to that hosting the high-grade WTF massive sulphide mineralisation, where the Inferred Mineral Resource for WTF stands at 6.7Mt at 6.2% zinc, 2.8% lead, 189 g/t silver and 1.1 g/t gold for a grade of 14.4% ZnEq.
Prospecting of the northern limb along the Glacier Trend, a spatially extensive alteration zone with 10km of strike length, has identified sulphide accumulations, chert and iron formations, all believed to be proximal to horizons prospective for base metal rich massive sulphides along strike and down dip. Additional lithogeochemical analysis of rock chip data has assisted in prioritising areas of interest along the Glacier Trend through the identification of classic VMS alteration vectors. Additional rock chip data specifically characterising vectors associated with black shales and exhalite horizons is now being assessed in conjunction with identifying distinct conductivity responses from the AEM data to assist in drill targeting.
The drill rig has now moved to test the first of these new targets at the Arete prospect (Photos 1 and 2 in link below). The target at Arete is the down dip projection of a massive sulphide outcrop that exhibits a distinct conductivity response in the AEM (Figure 4) that has similarities in geometry and strength to those at the Dry Creek and WTF deposits.
Following the Arete drill hole a number of new targets along the Glacier Trend are being finalised prior to drill testing. Target priorities have been identified at the Sheep/Rogers, Artesia, Irish Knob and Smog South prospects (Figure 5) where a combination of exhalative horizons, anomalous geochemistry and coincident AEM conductivity anomalies are being modelled.
A total of seven diamond drill holes have been completed to date in the 2019 program, with no significant massive sulphide mineralisation intersected. The first three drill holes were previously reported. The subsequent four diamond drill holes tested targets at Platypus (DC19-93), Megan's (DC19-94), Stingray (WT19-31) and Mantaray (DC19-32), the locations of which are shown on Figure 5.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/D884435N
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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