Thunder Bay, Ontario, April 22, 2020: White Metal Resources Corp. (TSXV:WHM) (“White Metal” or the “Company”) is pleased to announce that it has received the results of its 464 line-kilometre, fixed-wing, high-resolution aeromagnetic gradiometer and digital VLF-EM survey, completed over the Far Lake Copper-Silver Project (the “Project” or the “Property”). The airborne survey is part of the exploration program designed to follow up its successful 2019 prospecting, trenching and sampling programs that led to the discovery of copper-silver mineralization, including a 0.7 metre channel sample across massive sulphide that assayed 22.0% Cu, 30.2 g/t Ag, and 0.25 g/t Au (see Company news release dated September 30, 2019). The Project, located about 75 km northwest of the port city of Thunder Bay and north of the Shebandowan Greenstone Belt, comprises 196 single cell mining claims and covers about 4,178 hectares.
Michael Stares, President & CEO of White Metal, commented, “I am excited to see the results of the new geophysical targets that were outlined by the high resolution airborne survey. In just a few more weeks, post spring snow melt, the Company will begin its field work to follow up on this survey and I look forward to seeing the results of ground-truthing the survey.”
Results and interpretation from the airborne geophysical survey will be followed up on as soon as snow cover (spring melt) and weather permits. The survey has delineated in detail a number of new structural and geological trends coincident with known copper-silver mineralization as well as a number of new trends which require follow up. The airborne survey area also covered the location where a large boulder was discovered which assayed 0.7% Cu and 2.1 g/t Pt+Pd+Au. The rock textures in the boulder suggest a fresh and unaltered gabbro and the Company interprets it be of Proterozoic age with its source located up-ice, not far to the north.
The results of the high resolution airborne survey were very encouraging, outlining numerous magnetic targets (highs and lows) that are located in the area of the high-grade copper showing. The magnetic survey was also very effective at outlining several structures and offsets that will require ground follow up. The digital VLF-EM survey was also very effective in outlining numerous areas of interest that are either associated with the magnetic highs or directly flanking the mag-high boundaries. The area of the high-grade PGE boulder also shows numerous magnetic and VLF responses. Of particular interest is a magnetic high, located north-northeast of the high-grade copper showing, that has several VLF-EM responses.
The Far Lake Property mineralization are hosted within structurally controlled fault-breccias that occur within a sequence of metasedimentary rocks and a white, medium-grained monzonite granite. In places the metasedimentary rocks could be large fragments that have been incorporated into the breccia. Several alteration styles have been observed on the Property, including intense silicification associated with massive chalcopyrite mineralization, sericite, and hematite veining within a monzonite granite.
Mineralization identified to date on the Property, displays characteristics suggestive of multiple mineralizing systems, with both porphyry and IOCG style copper mineralization recognized.
Previous Exploration by White Metal
During the 2017 exploration program, White Metal discovered a new copper-silver showing just north of Far Lake. During that time, the Company channel sampled outcropping in the area of the occurrence which assayed up to 3.54% Cu over 3.0 metres, including an individual sample of 4.96% Cu over 1.0 metre. Mineralization is associated with a north-south trending structure within a silicified monzonite intrusive body. Prospecting in early 2019 uncovered another occurrence of copper-silver mineralization, along the same structural corridor as the original occurrences. This discovery extended the mineralized horizon another 100 metres northward for a total strike length of approximately 400 metres. One selected grab sample taken from the occurrence assayed 5.52% Cu, 0.188 g/t Au, and 8.5 g/t Ag. Follow up trenching in August 2019 returned channel sample intervals as high as 22.0% Cu, 30 g/t Ag and 200 ppb Au over 0.7 metres.
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 exploring in Canada. 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.
Michael Stares, Director
For further information contact:
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836 Fax: (807) 475 7200