White Gold ups Yukon resource estimate by 25%

June 11, 2019

White Gold Corp


Toronto based Yukon gold explorer White Gold Corp has increased the mineral resource estimate on their White Gold property by 25%, giving 1,039,600 indicated gold ounces and 508,700 inferred based on their 2018 exploration program. The exploration program was backed by partners Agnico Eagle Mines.

David D’Onofrio, CEO of White Gold, said that this expansion was due to the data driven nature of their exploration methodologies. 

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“We are very pleased with the significant increase in the Golden Saddle & Arc in 2018 with the relatively limited amount of drilling performed. The growth in the Golden Saddle was primarily driven by the 2018 GS West Zone discovery and continued drilling of the GS Main Zone. The newly discovered GS West is part of the same mineralized system as the Golden Saddle, all of which we believe can be expanded with additional drilling.”

Commenting on next steps for White Gold in 2019, Mr D’Onofrio said: “Continuing to grow the Golden Saddle & Arc resource will be one element of our fully funded $13 million 2019 exploration program which also includes plans to expand our 230,000 ounce Inferred Resource on the recently acquired VG Zone, diamond drilling on the high-grade 2018 Vertigo discovery and the generation of additional grass root discoveries across our 1 million acre land package in Yukon’s prolific White Gold District.”

Key highlights from the program are:

• Indicated Mineral Resource of 1,039,600 gold ounces within 14,330,000 tonnes at 2.26 g/t gold, and Inferred Mineral Resource of 508,700 gold ounces within 10,696,000 tonnes at 1.48 g/t gold, from the Golden Saddle (“GS”) and Arc deposits representing a 25% increase based on 2018 activities.
• 8% increase in Indicated Resources and 80% in Inferred Resources.
• Increases in the Golden Saddle driven by the 2018 GS West Zone discovery, expansion of the GS Main and Footwall Zones and expansion of potential underground ounces.
• Increases in the Arc driven by 2018 drilling and updated geologic modelling.
• GS & Arc mineralization remains open along strike and down dip/plunge. Significant ounces added with only 12,368m of drilling in 2018 on these zones.
• GS Main contains a consistent high-grade core of 832,000 gold ounces at a grade of 2.96 g/t gold in the Indicated category and 107,000 gold ounces at a grade of 3.18 g/t gold Inferred using a >1 g/t cut-off. Included in this high-grade core is 525,600 gold ounces at a grade of 4.68 g/t gold in the Indicated category and 81,900 gold ounces at a grade of 4.74 g/t gold Inferred using a >3 g/t cut-off.

About White Gold Corp

The White Gold District of the Yukon has seen gold discoveries of approximately 7 million oz since 2007, and major acquisitions and investments by GoldCorp, Kinross and others. White Gold’s highly experienced technical and management team has a track record of multiple discoveries in the White Gold District. The company owns a portfolio of 21,218 quartz claims across 35 properties covering over 439,000 hectares, representing over 40 per cent of the District. The company’s gold resources include its flagship Golden Saddle & Arc deposits containing 960,970 oz Indicated at 2.43 g/t Au and 262,220 oz Inferred at 1.70 g/t Au, and its VG resource containing 230,000 oz Inferred at 1.65 g/t Au. The company’s proprietary exploration strategy has produced multiple high-grade gold discoveries, including Vertigo with 23.44 g/t Au over 24.38m, Ryan’s Showing with 20.64 g/t Au over 6.09m, GS West with 2.97 g/t Au over 10.0m and Betty with 1.08 g/t Au over 50.29m.

Find out more at https://whitegoldcorp.ca

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James Hyland, MiningIR