Ballarat,
Key Highlights
- Recent drilling at
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- The global Inferred Mineral Resource now totals 21.3 million tonnes at 8.5% zinc equivalent for 1.8Mt of contained zinc equivalent or 393g/t silver equivalent for 207Moz of contained silver equivalent.
- Impressive overall base metal and precious metal content with 822,000t zinc, 334,000t lead, 60.9 million ounces silver and 442,000 ounces gold.
- This represents an increase of 28% in high grade tonnage (27% increase in the global tonnage) on the previous Resource estimate and places Red Mountain as a significant zinc/silver Resource against a background of near all-time high zinc prices.
- Mineralisation commences at surface and is open down dip with some of the highest-grade intersections being at depth, such as DC21-973 (Figure 4*):
o 5.8 metres at 11.5% zinc, 3.4% lead, 69g/t silver, 0.8g/t gold & 0.1% copper, including
o 1.4 metres at 35% zinc, 12.2% lead, 237g/t silver, 2.9g/t gold & 0.3% copper
- Numerous VMS targets remain to be tested on the Company's district-scale tenement package of 836km2, including the exciting Kiwi prospect with massive chalcopyrite (copper sulphide) float assaying4 up to 16% copper, 8% zinc and 316g/t silver and a strong conductor ready to drill.
The Statement of Mineral Resources (Table 1 & 2*) is reported in accordance with the requirements of the 2012 JORC Code and is therefore suitable for public reporting.
Red Mountain is a quality advanced exploration project centred on an established volcanogenic massive sulphide ("VMS") district. White Rock has shown the expansion potential, doubling the high-grade
Future drilling will also include testing of numerous quality targets including the Kiwi prospect where there is high grade massive sulphide float at surface and a strong conductor that was defined by fixed loop electromagnetics at the end of the 2021 field season, subsequent to drilling activities.
"This increase in the Red Mountain VMS resource to 21.3Mt grading 8.5% ZnEq, a substantial increase over the previous resource, shows the impact that a handful of drill holes can have on an early stage project such as this.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/5Y5JA127
About
Contact:
Mr
Managing Director and CEO
info@whiterockminerals.com.au
Mr
Media and Investor Relations
alexc@nwrcommunications.com.au
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