Thunder Bay, Ontario, 22 October 2020: White Metal Resources Corp. (TSXV:WHM) (“White Metal” or the “Company”) is pleased to announce that it has initiated its 2020-21 exploration program on the Taranis Copper-Silver Project (the “Project” or “Property”), located in northwestern Namibia and defined by Exclusive Prospecting Licence (“EPL”) 7071. The Project includes the historical Okohongo Copper-Silver Deposit (the “Okohongo”).
Michael Stares, President & CEO of the Company, stated, “I am very excited to see the start of our mineral exploration program on the Taranis Copper-Silver Project, located in a very prospective area of northwestern Namibia. Although the primary target is the historical Okohongo Copper-Silver Deposit, we will be conducing reconnaissance work over the entire EPL, including follow up on a number of promising historical copper showings.”
The Company received its Environmental Clearance Certificate (“ECC”) for EPL 7071 in January 2020 (see news release 7 January 2020), has recently received approval of its 2020-2021 exploration program from the Ministry of Mines and Energy (“MME”), as well as permission to re-log and re-sample historical reverse circulation (“RC”) drill hole sample chips stored a government warehouse in Tsumeb. In addition to the RC chip re-sampling program, the Company is planning to complete a minimum 1,000 metre RC drilling program, aimed largely at the historical Okohongo Cu-Ag deposit (confirmation and in-fill holes) and reconnaissance geological mapping and sampling over the Property. The primary objective of the 2020-21 exploration program is to update historical mineral resources in the Okohongo deposit and complete a technical report and mineral resource estimate compliant with The National Instrument 43-101 (“NI 43-101”).
The Taranis Property, covering about 19,850 ha, includes the historical Okohongo Copper-Silver Deposit which has been outlined by historical drilling, showing that it extends over 600 metres in strike length, 400 metres down-dip, and is open in all directions (see INV Metals news release dated August 3, 2011). The Okohongo, situated within the Kaoko Belt of northwest Namibia about 700 km northwest of Windhoek, is hosted by metasedimentary stratigraphy and is considered to be analogous with the stratiform sediment-hosted Central African Copperbelt deposits of Zambia and the Democratic Republic of the Congo. This deposit contains historical 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).
The Company is treating the tonnages and grades reported in Table 1 as historical mineral resources. The Inferred Mineral Resource estimate reported in Table 1 for the Okohongo Copper-Silver Deposit was prepared by qualified authors in 2011, conforming to CIM Definition Standards on Mineral Resources and Mineral Reserves as outlined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. 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 news 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 Property.
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 NI 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.
President & CEO, Director
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