“We are very pleased with the successful soil survey program which has identified a large new target on the QV property in close proximity to our existing deposit. The strike length, continuity, and similarities of the soil anomaly relative to the surface geochemical signatures of our Golden Saddle and VG deposits represents an exciting new target. Our data driven exploration methodology which has now led to multiple significant gold discoveries in the district, continues to demonstrate the prospectivity of our underexplored district scale exploration portfolio in the
Maps and images accompanying this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
Highlights
- 2023 soil sampling survey on the QV property focused on two grids located east and west of
Chris Creek (East and West grid) and approximately 9 km northwest of the VG deposit, which hosts an open pittable Inferred resource of 287,100 oz gold at 1.53 g/t(1) and remains open along strike and at depth. - The soil sampling program consisted of approximately 200 samples collected at 50 m sample spacings on 100 m-spaced survey lines.
- Gold values range from < 0.5 ppb Au to a maximum of 496.7 ppb Au, with 10 samples on the East Grid returning greater than 50 ppb Au in the range of 51.1 to 327 ppb Au.
- The gold anomaly is associated with anomalous tellurium and low arsenic in soils, which represents a surface geochemical signature similar to the VG and Golden Saddle deposits.
- The newly identified east-west trending soil anomaly on the East Grid measures approximately 1 km in length and is open along strike to the east and west beyond the limits of current soil sampling.
- Magnetic data indicates that the newly identified gold soil anomalies occur in a NNW-SSE trending mafic belt.
- Infill and extension soil sampling, GT-probe bedrock sampling, and ground magnetics and VLF-EM geophysical surveys are recommended to further advance this new target to drill-ready status in 2024.
PDAC 2024
The Company will be exhibiting at PDAC 2024 at the Investors Exchange, with full details below. Conference attendees are invited to visit the Company booth to learn more and ask any questions they may have. Management is also participating in the PDAC One on One Meeting Program. Interested parties are encouraged to book a meeting through the conference website.
Booth Number: 2312
Dates:
Exhibition Hours:
One on One Meetings: https://www.precioussummit.com/event/pdac-2024-one-on-one-meeting-program/
2023 Soil Sampling Program – QV Property
The 2023 soil survey comprised approximately 200 samples on two grids located east (East Grid) and west (West Grid) of
The maximum gold value from the 2023 soil sampling of 496.7 ppb Au is located on the westernmost survey line on the West Grid. No sampling has been conducted west of this sample and the significance and strike extent of this anomaly is currently unknown.
Magnetic data reveal that the newly identified soil anomaly is situated near a mafic belt with a NNW-SSE orientation, similar to the structural context of the Ryan’s Surprise deposit located approximately 15 km to the SSE. This mafic belt is interpreted to be positioned in the hanging wall of a NNW-SSE-oriented, district-scale fault system, intersected by a significant NE-trending fault, comparable to the structural array at Ryan’s Surprise. The principal gold anomaly is localized at this fault intersection, associated with a semi-circular magnetic high approximately 1 km in diameter.
Next Steps
The Company is encouraged by the size and continuity of the new gold-in-soil anomaly, as well as its geochemical similarity to soil anomalies associated with the VG and Golden Saddle deposits. Additional infill soil sampling at 25 m spacings, extension soil sampling along strike, GT-Probe bedrock interface sampling and ground magnetics and VLF-EM geophysical surveying is being planned to further advance and evaluate the target for drill testing.
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
Soil Sampling Methods and Analysis
The 2023 QV property soil geochemistry survey was contracted to
Analytical work for the 2023 soil geochemistry surveys was carried out at Bureau Veritas (BV)
About
The Company owns a portfolio of 15,830 quartz claims across 25 properties covering approximately 315,000 hectares representing over 40% of the Yukon’s emerging
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Qualified Person
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
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
(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/fbe9ddbe-e7b3-4c61-9220-7cf8b1c6099e
https://www.globenewswire.com/NewsRoom/AttachmentNg/a6c90fc9-b689-41fc-bb96-326983a7846a
https://www.globenewswire.com/NewsRoom/AttachmentNg/9172991d-43ba-4fec-9157-525a91e3d40c
https://www.globenewswire.com/NewsRoom/AttachmentNg/4d82299d-37c2-4b10-b059-5387747e32bf
Figure 1 - QV Regional Location Map
Figure 1 - QV Regional Location Map
Figure 2 - QV Soils + Property Overview
Figure 2 - QV Soils + Property Overview
Figure 3 - QV 2023 Soil
Figure 3 - QV 2023 Soil
Figure 4 - QV-Magnetics Overview
Figure 4 - QV-Magnetics Overview
2024 GlobeNewswire, Inc., source