WHITE GOLD CORP (WGO.V): EXPANDS HIGH GRADE GOLD MINERALIZATION AT RYAN’S SURPRISE TARGET INTERSECTING GOLD IN ALL HOLES INCLUDING 8.69 G/T AU OVER 12.3M AND 17.4G/T AU OVER 3.47M 2KM WEST OF FLAGSHIP GOLDEN SADDLE DEPOSIT
White Gold Corp. (TSX.V: WGO, OTC: WHGOF, FRA: 29W) (the “Company”) is pleased to announce results of its recently completed diamond drilling program on the Ryan’s Surprise (“Ryan’s”) target which encountered multiple high-grade mineralized zones expanding gold mineralization which remains open in all directions. The Ryan’s target is located approximately 2km west of the Company’s flagship Golden Saddle deposit and 11km south of the Company’s VG deposit. The drilling is part of the Company’s fully funded 2020 exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K,NYSE: KGC) on its extensive 420,000 hectare land package in the emerging White Gold District, Yukon, Canada.
The close proximity of Ryan’s to the Company’s existing mineral resources at Golden Saddle and Arc makes it a highly strategic target. The Golden Saddle and Arc deposits have a combined mineral resource of 1,139,900 ounces Indicated at 2.28 g/t gold and 402,100 ounces Inferred at 1.39 g/t gold and the VG deposit hosts a historic Inferred gold resource of 230,000 ounces at 1.65g/t gold(1). The Ryan’s target is situated on a 11km x 5km mineralized trend that includes multiple additional gold zones with geological and other similarities to the Ryan’s Surprise, Golden Saddle and Arc. Discovered through the Company’s systematic exploration programs, these include Ulli’s Ridge, Teachers Showing, Minneapolis Creek and several others which are being explored as part of the Company’s regional exploration program. With only limited exploration to date, these targets offer the potential for additional gold discoveries outside of current resource areas.
- The diamond drilling program comprised 6 drill holes totalling 1,632.5m, with all holes encountering multiple gold intercepts, several of which are amongst the highest grade intercepts encountered to date on the White Gold property.
- High-grade gold intercepts were encountered in 5 of 6 holes including 17.40 g/t Au over 3.47m in WHTRS20D013, 12.80 g/t Au over 1.00m in WHTRS20D014, 9.10 g/t Au over 1.00m in WHTRS20D015, 10.96 g/t Au over 3.76m in WHTRS20D017 and 8.69 g/t Au over 12.30m in WHTRS20D018.
- Drilling was carried out on three 50m spaced cross-sections to test for extensions of mineralization along strike and down dip, and to further evaluate the geological/structural interpretation.
- Gold mineralization remains open in all directions and has now been encountered over a strike length of 250m by 130m wide and to a vertical depth of 300m. Mineralization is structurally controlled in brittle fracture and breccia zones predominately in metaquartzite and shows a strong association with anomalous arsenic.
- Ryan’s Surprise is situated on a large 11km by 5km mineralized trend which hosts several additional prospective targets
“We are very pleased to have encountered additional high-grade mineralization at the Ryan’s Surprise in new zones and extensions to previously encountered mineralization in multiple directions. These results and the close proximity to our established resources provides further evidence of the growth potential of these projects. We are also further encouraged by the prospectively of the other targets in this area which share geological and other characteristics with this recent discovery”, stated David D’Onofrio, CEO of the Company.
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