Thunder Bay, Ontario, June 20, 2019: White Metal Resources Corp. (TSXV:WHM) (“White Metal” or the “Company”) is pleased to announce that it has extended the strike length of the Far Lake Copper Zone a further 100 metres to the north from the last sampling done by the Company in 2017 (see Company news release dated August 10, 2017). The Far Lake Copper Zone is located on the Company’s 100% owned Far Lake Property (the “Property”), located about 75 kilometres northwest of Thunder Bay, Ontario and north of the Shebandowan Greenstone Belt.
June 20, 2019 - White Metal Makes New Discoveries to Extend the Far Lake Copper Zone, Northwestern Ontario and Grants Stock Options
June 18, 2019 - White Metal Receives Approval of Transactions to Acquire Namibian Copper Assets and Closes Financings
Thunder Bay, Ontario, June 18, 2019: White Metal Resources Corp. (TSXV:WHM) (“White Metal” or the “Company”) is pleased to announce that it has received approval from the TSX Venture Exchange (the “Exchange”) to acquire certain mineral properties in Namibia. Through a binding letter of intent between White Metal and Taranis Resources and Investments CC (the “Taranis LOI”) and a binding letter of intent between White Metal and Altan Minerals and Investment CC (the “Altan LOI”) the Company is acquiring four Exclusive Prospecting Licences (“EPL”s) that cover several advanced-stage prospects located in two regions of Namibia prospective for copper deposits (see Company news release dated May 13, 2019). White Metal is also pleased to announce that it has closed its financing of $540,000 (see Company news release dated May 27, 2019) and its financing of $160,000 (see Company news releases dated June 7, 2019 and June 12, 2019).
Michael Stares, President & CEO of the Company, stated, “We are very excited to have been approved by the exchange for the acquisition of these projects located in Namibia, a jurisdiction well-known for its support of mining, and we look forward to advancing these attractive copper projects”.
Licence EPL 7071 , the subject of the Taranis LOI, covers approximately 19805 ha, including the Okohongo Copper-Silver Deposit which is known to extend over 600 metres in strike length and up to 400 metres down-dip (see INV Metals news release dated August 3, 2011). Situated within the Kaoko Belt and hosted by metasedimentary strata, the Okohongo Deposit is considered analogous with the stratiform sediment-hosted Central African Copperbelt deposits of Zambia and the Democratic Republic of the Congo. The Okohongo Deposit contains Inferred Mineral Resources of 10.2 million tonnes grading 1.12% Cu and 17.75 g/t Ag, using a 0.3% Cu cut-off (Table 1; INV Metals Inc. NI 43-101 Technical Report, Effective Date March 31, 2011).
Licences EPL 7028, 7029, and 7030, the subject of the Altan LOI, are located about 150 km east of capital city of Windhoek, Namibia and cover about 65 km of prospective stratigraphy in the Kalahari Copper Belt which extends eastward into Botswana where several major copper deposits occur and are being financed at present (e.g., Cupric Canyon Capital news release dated February 25th, 2019).
Six historical copper deposits occur within these three licences along with other zones with anomalous copper in historical drill core intercepts which the Company believes can be expanded upon through future exploration. Historical resources (Table 2) are contained within these three mining licenses and were published by the Geological Survey of Namibia (Resources of Namibia, 1999).
The Company is treating the tonnages and grades reported in Table 2 as historical mineral resource estimates. These historical estimates do not use categories that conform to current CIM Definition Standards on Mineral Resources and Mineral Reserves as outlined in National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-101“) and have not been redefined to conform to current CIM Definition Standards. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources and the Company is not treating the historical estimates as current mineral resources. Investors are cautioned that the historical estimates do not mean or imply that economic deposits exist on the properties. The Company has not undertaken any independent investigation of the historical estimates or other information contained in this press release nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information. The Company believes that these historical estimates and other information contained in this news release are relevant to continuing exploration on the properties. Management of the Company is relying on the Inferred Mineral Resource estimation reported in Table 1 for the Okohongo Copper-Silver Deposit as it was prepared by expert and qualified authors and used industry standard procedures (NI 43-101) at that time. This resource estimate is relevant to the Company’s future exploration programs as it identifies significant mineralization that will be the target of future exploration and development.
Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Exploration and a Director of White Metal, who is a Qualified Person under the definitions established by the National Instrument 43-101.
About White Metal Resources Corp (TSX-V: WHM)
White Metal Resources Corp. is a junior exploration company currently exploring in Canada and looking for opportunities world-wide. For more information please visit the Company’s website at www.whitemetalres.com.
On behalf of the Board of Directors of White Metal Resources Corp.
President & CEO
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.
For further information contact:
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836 Fax (807) 475 7200
June 12, 2019 - White Metal Amends Agreement to Purchase Namibian Properties and Increases Private Placement
Thunder Bay, Ontario, June 12, 2019: White Metal Resources Corp. (TSXV:WHM) (“White Metal” or the “Company”) is pleased to announce that it’s previously announced (news release dated May 13, 2019) agreement to acquire three exclusive prospecting licenses in Namibia from Atlan Minerals and Investments CC (“Atlan”) has been amended. The original agreement that called for a purchase price of $US37,500 in cash and the issuance of 8,000,000 shares of the Company has been amended to provide for the payment of $US75,000 and the issuance of 7,000,000 shares of the Company.
June 7, 2019-White Metal Completes First Phase Exploration Program On Little Joanna Gold Property, Newfoundland and Announces $150,000 Private Placement
Thunder Bay, Ontario, June 7, 2019: White Metal Resources Corp. (TSXV:WHM) (“White Metal” or the “Company”) is pleased to announce that it has completed the first phase of exploration work on the Little Joanna Gold Property (the “Property”), located in Central Newfoundland, Canada. Work included the collection of 619 soil samples and 36 rock samples. The soil and rock samples have been submitted to Eastern Analytical Laboratories located in Springdale, Central Newfoundland and results will be released once received and interpreted. The soil sampling program was designed to test for additional gold-bearing structures and continuity originating from the main gold showing which assayed up to 734 g/t Au (23 oz/ton Au) in selected grab samples collected and assayed by the vendor.