LITTLE JOANNA GOLD PROPERTY White Metal Resources has entered into an option agreement for a 100% interest in the Little Joanna Gold Property, Central Newfoundland. The property is approximately 25 km northeast of the town of Glenwood, is accessible by resource roads that originate from either Glenwood or Birchy Bay, and comprises 280 claim units, covering 7,000 hectares. The Property is approximately 45 km northeast of the Moosehead Gold Project of Sokoman Iron Corp. (TSXV:SIC). Sokoman Iron recently announced their gold-bearing discovery hole (Sokoman Iron Corp. news release, dated July 24, 2018), reporting an assay result of 44.96 g/t Au over 11.90 metres (from 109.00 to 120.90 metres).
The Little Joanna property is a new high-grade gold discovery in an area with little known exploration. The main Little Joanna showing is a 25 to 31 cm wide compact quartz vein within a highly altered, carbonated sedimentary mélange of shale, conglomerate and siltstone. Hand trenching by the vendors exposed the vein for a couple of metres. Fine, visible gold is observed throughout the vein and selected grabs samples by the vendor assayed up to 734 grams per tonne gold (23 oz/ton); average sampling of the quartz vein is approximately 189 g/t Au (5.9 oz/t Au.). As much of the property is covered by overburden, White Metal believes that significant potential exists for the discovery of additional gold-bearing quartz veins.
In conjunction with the original Option of 27 claim units, White Metal subsequently staked an additional 253 claim units extending the Property to the northeast and southwest and covering historical work done by Noranda Exploration (1988-1989). Noranda reported up to 44g/t Au in boulder samples and outlined 1.15 g/t Au and 5.2 g/t Au basil till sample anomalies.
The property is largely underlain by Early to Late Silurian siliciclastic sediments and lesser subaerial mafic and felsic volcanic rocks including the Silurian Botwood Group (Wigwam and Lawrenceton formations), similar to the geology and northeast-trending structures found on Sokoman Iron’s Moosehead gold project to the southwest.
White Metal has recently carried out due diligence grab sampling on the property. A total of seven grab samples, all with anomalous gold (+40 ppb Au), were collected from quartz vein bearing sedimentary rocks, and range from 40 ppb Au to 229.3 g/t Au (6.70 oz/t Au), averaging 48.5 g/t Au (1.41 oz/t Au). The highest grade sample (229.3 g/t Au) contained visible gold and was collected from subcrop near the main showing, whereas the next two highest grade samples (38.7 g/t and 70.7 g/t Au) were collected from outcrop of quartz vein bearing sedimentary rocks.
WILLIAMS GOLD PROPERTY White Metal Resources has entered into an option agreement for a 100% interest in the Williams Gold Property located approximately 40 km southeast of the Moosehead Gold Property of Sokoman Iron Corp.The property is approximately 40 km southwest of the town of Glenwood, is accessible by resource roads that originate from the Trans-Canada Highway.
The Williams Property is a new polymetallic discovery with an extensive area of anomalous quartz-veined, brecciated, granite/sediment float, and subcrop with grab samples up to 52 g/t Au (1.52 oz/t Au). Mineralized and quartz-veined granites, black shales, siltstones and volcanics are found over a distance of 3 km. Subcropping mineralized rocks are found over an area 200 to 300 metres in length and widths estimated at two to three metres. Two samples from subcrop collected by the vendor assayed 5.8 g/t Au and 7.9 g/t Au. These samples were at least 200 metres apart and occur in a unit of intensely silicified, brecciated quartz-veined black shales. These grab samples contain up to 2% chalcopyrite (Cu), sphalerite (Zn), galena (Pb), and antimony (As) with some assays returning >1000 ppm As.
The property is situated within the Botwood Basin, with the eastern half of the property underlain by Cambrian to Ordovician siliciclastic sediments (Eastern Dunnage Zone; Outflow Formation) and the western half by Silurian siliciclastic sediments (Botwood Group). This is a similar geological environment to the Clarks Brook gold property to the northeast where Sokoman Iron reported a drill core intercept of 3.74 g/t Au over 3.10 metres, including 14.73 g/t Au over 0.60 metres (Sokoman Iron Corp. news release, dated April 5, 2018). Gold is generally associated with pyritic quartz veins and hosted by siltstones, sandstones, and conglomerates.