White Rock Minerals Ltd: Quarterly Activities Report - for the Quarter Ended 31 March 2018
Red Mountain Zinc VMS Project
During the Quarter the Company announced the execution of a number of important activities in preparation for the planned 2018 exploration field season at its 100% owned Red Mountain zinc - silver - lead - gold volcanogenic massive sulphide ("VMS") Project in Alaska.
The proposed exploration program includes:
- A targeted diamond drilling program aimed at in-fill and expanding the current globally significant high-grade zinc VMS maiden Resource,
- On-ground orientation electromagnetic (EM) geophysics and geochemistry exploration across the two already identified deposits,
- The regional application of the best geophysics and geochemistry exploration tools determined from the on-ground orientation work, and
- A follow-up diamond drilling program on the best of the more than 30 already identified exploration targets.
The Company has successfully mobilised heavy equipment to site including a diamond drill rig and camp. All permits required for field activities have been granted. All major contracts have been executed or are in the final stages of preparation to ensure that all the key support services are ready for the start of the field season in late May.
MD & CEO Matt Gill said ""The Company is very excited about the potential for its globally significant high-grade Zinc VMS Project at Red Mountain, and the news flow that should come from a successful exploration program here.
Since acquiring the Red Mountain project in early 2016, we have expanded our strategic footprint 10-fold, to 143km2, and have also released a maiden Mineral Resource that immediately placed the Red Mountain Project in the top quartile of undeveloped high-grade VMS (zinc, silver, gold) deposits globally. Importantly, the two deposits identified within the Company's extensive land holding immediately placed the Red Mountain zinc project as one of the highest grade and more significant deposits of any zinc company listed on the ASX and an important VMS asset within a global context.
Our drill program for the 2018 summer field season aims to further build on our geological knowledge of the mineralisation, increase confidence in the Resource base, expand the already globally significant Resources at the existing deposits and discover new deposits.
We will, in parallel with the drilling program, also be conducting on-ground geophysics and geochemistry, testing many of the 30 already identified exploration targets developed from historic shallow EM and historic surface geochemistry, and explore the system for VMS related gold potential. We plan to drill the best of these regional targets towards the end of this drilling campaign."
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About White Rock Minerals Ltd
White Rock Minerals Ltd (ASX:WRM) is an Australian listed minerals exploration and development company with projects located in northern NSW (gold and silver) and central Alaska (zinc, silver, lead and gold). The White Rock vision is to explore and develop both precious and base metal projects.
White Rock's cornerstone asset is the Mt Carrington epithermal gold-silver project in northern NSW. The Mt Carrington project has great leverage to the Australian gold and silver prices with a positive scoping study providing a path towards feasibility studies and development in the near term.
White Rock is also exploring the Red Mountain project in Alaska. Red Mountain is a globally significant advanced VMS project with high grade zinc and silver in two deposits. White Rock is exploring for additional high grade deposits that will enhance the projects leverage to an upturn in the fortunes of zinc and silver.
White Rock Minerals Limited
Matt Gill (Managing Director & Chief Executive Officer)
Or Shane Turner (Company Secretary)