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White Rock Minerals Ltd: Large Gold Anomaly Identified - Tintina Gold Province Alaska

28.01.2020  |  ABN Newswire
Ballarat, Australia - White Rock Minerals (ASX:WRM) is pleased to announce the discovery of two significant surface geochemical anomalies at its 100% owned Red Mountain Project, a high-grade zinc and precious metals VMS project in central Alaska (Red Mountain Project). There are already two high grade deposits at the Red Mountain Project, with an Inferred Mineral Resource of 9.1 million tonnes @ 12.9% ZnEq for 1.1 million tonnes of contained zinc equivalent at Dry Creek and WTF.

During the 2019 field season White Rock completed a detailed regional stream sediment program over prospective stratigraphy within the Red Mountain Project area. Sampling targeted stratigraphy prospective for additional VMS deposits as well as Cretaceous gold systems related to the world class Tintina Gold Province, host to gold deposits such as Donlin Creek (45Moz gold) owned by NovaGold and Barrick, Fort Knox (13.5Moz gold) owned by Kinross and Pogo (10Moz gold) owned by Northern Star (Figure 1*).

Last Chance Prospect

The Last Chance Prospect is a large (15km2), strong (up to 418ppb gold) and robust gold anomaly defined by 27 stream sediment sample points (Figure 2*). The gold anomaly has a highly anomalous core >100ppb gold in first order stream catchments over 3.5km of strike east-west, and at >75ppb gold extends over 6km of strike. The gold anomaly is located in the headwaters of Last Chance Creek. Downstream from this Prospect significant placer workings commence 12km to the north and extend further north downstream through the foothills of the Alaska Range (Figure 3*).

The Last Chance gold anomaly is located along a regional gold-arsenic-antimony trend that extends to the east and is spatially associated with a suite of exposed Cretaceous granites, the same age as those associated with the major gold deposits distributed throughout the Tintina Gold Province.

A historic search of the Alaska Department of Natural Resources website indicates that the Last Chance gold anomaly has never had any historic mining claims staked, suggesting that the area is unexplored. Together with the size and strength of the gold anomaly, White Rock is excited by the exploration potential for the Last Chance Prospect to yield a significant new gold discovery. The detailed definition of stream sediment sampling provides a clear area for focused on ground follow-up activities. White Rock expects to be able to commence geological reconnaissance and detailed surface soil and rock chip geochemistry during June 2020, prior to the possibility of drill testing targets during Q3 2020.

Moose Prospect

The Moose Prospect is a strong (2 samples >1% Zn), discrete (1.5km2) zinc-copper anomaly defined by 4 stream sediment sample points >5,000ppm (0.5%) zinc and >750ppm copper. The anomaly is located in the lower section of the Totatlanika Schist on the southern limb of the regional synform, along strike to the west of the high-grade zinc and precious metals Dry Creek VMS deposit (Figure 3*). The Moose zinc-copper target will also be prioritised for initial ground activities at the start of the 2020 field season.

Expanded Tenement Package

White Rock has staked an additional 134 new State of Alaska Mining Claims to secure the Last Chance and Moose target areas. The expanded tenement area now forms a contiguous block of mining claims from the high-grade Dry Creek and WTF deposits in the east through to the new target areas and the historic Sheep Creek VMS prospect in the west (Figure 3*). The Red Mountain project now comprises 894 State of Alaska Mining Claims and Mineral Locations, with the total district-scale strategic area now controlled totalling 559km2.

White Rock MD & CEO Matt Gill said "White Rock is extremely excited about identifying such a large, strong and coherent gold anomaly in a part of the world class Tintina Gold Province, host to over 100 million ounces of gold, that appears to have not been explored for gold by previous explorers despite the significant placer gold workings downstream only 12km from the Last Chance gold target. The detailed sampling gives White Rock an area for immediate focus with the hope that the gold anomalism could lead to a gold discovery with similar characteristics to world class deposits such as Donlin Creek and Pogo that are also located in the Tintina Gold Province."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/8MO4162F



About White Rock Minerals Ltd:

White Rock Minerals Ltd. (ASX:WRM) is a diversified explorer and near-stage producer, headquartered in Ballarat, Victoria. The Company's flagship exploration project is Red Mountain in central Alaska, where it has an earn-in joint venture arrangement with Sandfire Resources NL. At Red Mountain, there are already two high grade deposits, with an Inferred Mineral Resource of 9.1 million tonnes @ 12.9% ZnEq for 1.1 million tonnes of contained zinc equivalent. The Mt Carrington project, located near Drake, in Northern NSW, is a near-production precious metals asset with a resource of 341,000 ounces of gold and 23.2 million ounces of silver. White Rock Minerals is listed on the ASX:WRM.



Source:

White Rock Minerals Ltd.



Contact:

For further information, contact: Matthew Gill or Shane Turner Phone: +61-3-5331-4644 Email: info@whiterockminerals.com.au www.whiterockminerals.com.au For Media and Broker queries: Peta Baldwin Phone: +61-455-081-008 Cannings Purple Email: pbaldwin@canningspurple.com.au


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