White Gold Corp. Announces 2017 Exploration Program
TORONTO, ONTARIO--(Marketwired - Feb. 15, 2017) -
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White Gold Corp. (TSX VENTURE:WGO) (the "Company") is pleased to announce details of its 2017 Exploration Program on the Company's 297,000 hectare land package in the White Gold District of the Yukon Territory, Canada. The focus of the fully funded program is to drill test new and previously defined high priority gold-in-soil trends in the emerging White Gold District and to further define and advance its other targets to drill ready status. Drill testing of previously identified and similar scale gold-in-soil anomalies has led to the nearby gold discoveries currently owned by Goldcorp Inc. (The Coffee Project) and Kinross Gold Corp. (The Golden Saddle Project).
- Extensive drill program starting May 2017 consisting of 200 drill holes (20,000m) to be conducted on multiple targets on the Loonie, IND, Dime, Nolan and Black Hills properties
- Detailed soil sampling, geophysics and other exploration work will be performed to follow up on newly discovered targets in 2016 and to further prepare other properties for drilling
- The Company's exploration program is fully financed, having recently completed an $18 million financing in December 2016 including a $14.5 million investment by Agnico Eagle Mines Ltd.
- Approximately $30 million in exploration expenditures have been incurred on the Company's properties to date
- The Company is the largest land holder in the White Gold district with 14,648 claims (297,000 hectares)
White Gold Corp. has acquired the largest land package in the prolific White Gold District of the Yukon and assembled a board and management team with a combined 40+ years of experience working in the Yukon. This team has also been directly involved with every recent major gold discovery in the White Gold District. Previous exploration work on its properties has produced several highly prospective targets. Further to the historic work performed and the encouraging results from the 2016 work program (see Company News Release dated January 23, 2016), these strategically located properties will undergo an extensive and fully funded exploration program over the next 3 years.
White Gold Corp.'s 2017 Exploration Program
The 2017 exploration program will be conducted on 22 of White Gold's properties and include RAB Drilling, Soil Sampling, Probe Sampling, Drone/X-CAM Surveys, DC IP-Resistivity, Airborne Dighem Surveys and Geologic Mapping & Prospecting. The 2017 RAB Drilling will focus on the Company's high priority targets on the Nolan, IND, Loonie, Dime and Black Hills properties. The planned supplementary work will be performed to advance other targets, particularly on the Nolan, the Hunker, Bonanza, Brew, and Wolf properties, to drill-ready status for 2018. The work on the remainder of the projects is designed to follow up on known areas of interest and/or meet assessment requirements. A detailed summary of the work to be performed on each property will be provided in future press releases.
The 2017 program is scheduled to commence in May and conclude in October or later pending the scope of additional work performed pursuant to exploration success. White Gold will follow up on encouraging results with an expanded drill program as deemed appropriate. Supplementary airborne magnetic-radiometric surveys, soil sampling, geologic mapping and drone survey may also be performed to further test the Company's properties and as part of regional reconnaissance efforts.
Shareholders are encouraged to visit the Company's website (www.whitegoldcorp.ca) to further understand the size and scope of the Company's projects in the White Gold District and for a summary of exploration results, maps and other relevant information.
Jodie Gibson, PGeo, of GroundTruth Exploration Inc., has acted as the qualified person under National Instrument 43-101, and has reviewed and approved the content of this news release.
About White Gold Corp.
White Gold Corp. owns a portfolio of 14,648 quartz claims across 23 properties covering approximately 297,000 hectares representing approximately 30% of the Yukon's White Gold District. Preliminary exploration work has produced several highly prospective targets. The claim packages are bordered by sizable gold discoveries owned by majors including Kinross, Goldcorp and Western Copper & Gold. The Company has outlined an aggressive exploration plan to further explore its properties. For more information, visit www.whitegoldcorp.ca.
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, the date upon which the Company's common shares commence trading under the symbol "WGO" on the TSX Venture Exchange and advancement of the Properties. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by the Company in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
White Gold Corp.
Chief Financial Officer