Corporate Strategy
The corporate strategy of White Metal Resources Corp. is to acquire and explore camp-sized mineral land packages in Canada, particularly in Ontario and Newfoundland, which we consider as safe jurisdictions. Our focus is exploration for gold deposits. Moreover, since 2017, following our new discovery on the Gunners Cove Property in Newfoundland, our attention has turned to foster the advancement of this significant asset as our primary mission.
While White Metal's well-seasoned management team and board of directors has the geological, technical, corporate governance and financial capabilities, along with numerous years of experience and achievements in the mining industry to plan and execute various strategies, at White Metals we are currently concentrating on one single property in order to enhance value for White Metal shareholders.
With the stewardship of our 100% owned Gunners Cove Property, that includes 682 claims near the Northern tip of the Northern Peninsula of Newfoundland and that stretches over approximately 595 square kilometres, White Metal provides to investors the unusual possibility to participate at an early stage in the creation of what we hope is a unique new opportunity in gold exploration in Canada.
Prior to our arrival, the Gunners Cove Property had never been comprehensively explored. In fact, very little was known about this area from a geological perspective.
We carry out our strategy by demonstrating value. We do so with the hard data that we obtain by planned work programmes on the Gunners Cove Property and with our ongoing careful modern exploration techniques. As at July 2018, after an airborne survey and several on-the-ground prospecting and mapping expeditions, we have already identified over 10 new possible gold zones with over 400 grab samples which have been assayed, some with values grading up to over 5 grams per tonne gold. Of huge significance to us, our own professional Gunners Cove Property prospecting team discovered gold in pyrite nodules hosted in a vast territory of black shale, a rather unusual discovery in the context of Canadian exploration.
Our discovery is compelling to us and consistent with our corporate strategy for 2 reasons:
1-Generally, the discovery of gold in pyrite nodules in black shale, albeit quite unusual, can be extremely rewarding. For example:
2-The market capitalization of White Metal Resources Corp. is under $15 million, therefore a significant discovery can enhance our shareholder value.
While White Metal's well-seasoned management team and board of directors has the geological, technical, corporate governance and financial capabilities, along with numerous years of experience and achievements in the mining industry to plan and execute various strategies, at White Metals we are currently concentrating on one single property in order to enhance value for White Metal shareholders.
With the stewardship of our 100% owned Gunners Cove Property, that includes 682 claims near the Northern tip of the Northern Peninsula of Newfoundland and that stretches over approximately 595 square kilometres, White Metal provides to investors the unusual possibility to participate at an early stage in the creation of what we hope is a unique new opportunity in gold exploration in Canada.
Prior to our arrival, the Gunners Cove Property had never been comprehensively explored. In fact, very little was known about this area from a geological perspective.
We carry out our strategy by demonstrating value. We do so with the hard data that we obtain by planned work programmes on the Gunners Cove Property and with our ongoing careful modern exploration techniques. As at July 2018, after an airborne survey and several on-the-ground prospecting and mapping expeditions, we have already identified over 10 new possible gold zones with over 400 grab samples which have been assayed, some with values grading up to over 5 grams per tonne gold. Of huge significance to us, our own professional Gunners Cove Property prospecting team discovered gold in pyrite nodules hosted in a vast territory of black shale, a rather unusual discovery in the context of Canadian exploration.
Our discovery is compelling to us and consistent with our corporate strategy for 2 reasons:
1-Generally, the discovery of gold in pyrite nodules in black shale, albeit quite unusual, can be extremely rewarding. For example:
- Kalgoorlie Goldfields in Australia, has produced over 50 million ounces of gold to date from an open pit operation.
- Moro Do Ouro/Paracatu in Brazil, has been a significant asset of Rio Tinto and now Kinross. This open pit produced 1.46 million troy ounces of gold and accounted for 9% of Brazil's total gold production from 1982 to 1999. In 2013, combined Proven and Probable Reserves were estimated at 763 million tonnes grading on average .42 grams per tonne gold. Measured and Indicated Resources were estimated to be 540 million tonnes grading on average .36 grams per tonne gold.
- The Sukhoi Log mine in Russia is hosted by a black shale horizon that covers more than 15 square kilometres and contains 384 million tonnes with average grades ranging from 2 grams per tonne gold to 2.3 grams per tonne gold with additional lower grades of 2 grams per tonne over 165 million tonnes and a further 205 million tonnes grading 0.8 grams per tonne in the mineralization envelope. Its main deposit, located within a fold nose in black shale, displays various stages of alteration and pyrite mineralization that include gold-rich pyrite nodules.
2-The market capitalization of White Metal Resources Corp. is under $15 million, therefore a significant discovery can enhance our shareholder value.