White Metal Resources Corp. (TSX-V:WHM) is engaged in mineral exploration in Canada, particularly in the provinces of Ontario and Newfoundland. White Metal Resources Corp. focuses its activities on its 100% owned Gunners Cove Property located approximately 20 km north of St. Anthony on the Northern Peninsula of Newfoundland where, recently, significant grab samples have revealed the discovery of numerous gold zones.
Gunners Cove, Newfoundland
The Gunners Cove Property, is a new precious metals discovery with no previous work completed other than selective grab samples collected during previous limited prospecting programs. Precious and base metal mineralization is associated with pyrite-rich accumulations/nodules in graphitic argillaceous black shale. Selective grab samples have returned assay values as high as 5.86 g/t gold, 8.0 g/t silver, 0.13% copper, and 375 ppm molybdenum.
The style of mineralization at the Gunners Cove Property is very unique and is quite possibly the only project of its kind in Canada, with anomalous gold, silver and base metals, in this type of geological environment. Although there is still much to learn about the geological environment of the property, there are some global examples of significant gold projects hosted or associated with nodular pyrite-bearing black shale units, which may have some similarities to the Gunners Cove property. Anomalous gold in nodular pyrite hosted by black shale occur in association with:
(a) the Kalgoorlie Goldfields gold deposits in Australia,
(b) the Sokio Log deposit in Russia and,
(c) the Moro do Ouro/Paracatu deposit in Brazil.
Based on positive sampling results to date, an airborne and radiometric survey is proposed over the property to assist in tracing the prospective gold bearing horizon along strike.
Shebandowan Property, Ontario
In Ontario, the Shebandowan Property, located 100km west of the city of Thunder Bay, hosts two historic non-43-101 compliant resources known as the East Vanguard and the West Vanguard. The East Vanguard hosts 100,000 tonnes of 1.8%Cu, 4.5% Cu, 6.8g/t Ag, and 5g/t Au. The West Vanguard hosts 200,000 tonnes of 1.3%Cu, 1.5% Zn, 8.62g/t Ag and 4g/t Au.
Currently, White Metal has an option agreement with Benton Resources securing a strategic land package in the Shebandowan Belt and enlarging its holdings substantially. White Metal has completed soil sampling, prospecting, mapping and trenching of some of the favourable targets. A drill program is scheduled for early 2018 to test some of the target areas. It should be noted that immediately south of the White Metal claims, Wesdome Gold Mines has completed a large diamond drill program in the East Coldstream Deposit area which hosts 34 million tonnes of 0.79g/t Au, and also on the Moss Lake deposit which hosts 100.2 million tonnes of 1.1g/t Au and has a NI 43-101 PEA dated as recent as 2013 on the property.
Pickle Lake, Ontario
The Company also has an extensive land position in the Pickle Area which includes the South Limb Property located within kilometres of the Town of Pickle Lake. This property is directly on strike with the Donna Lake Mine which produced 220,000 ounces of gold. The target on this property is an interpreted fold nose within iron formation similar to the Au mineralization found at the Dona Lake Mine. White Metal also has two other properties that are located west of the Town of Pickle Lake known as the Kasagiminnis and Dorothy Dobie properties. The Kasagiminnis Property hosts a non-43-101 compliant resource of 400,400 ounces of gold. West of the Kasagiminnis Property is Barrick Gold’s Golden Patricia mine which produced 500,000 ounces at an average grade of 20g/t Au. West and along strike of the Golden Patricia mine is the Dorothy Dobie Property. This property has several non-43-101 compliant resources such as the Dobie Zone which host 300,000 tonnes of 5 g/t Au and the Main Zone which host 230,000 tonnes of 6.17 g/t Au. All of the Pickle Lake area properties are currently under option to Ardiden Ltd.
Corporate Presentation
March 2018
Gunners Cove, Newfoundland
The Gunners Cove Property, is a new precious metals discovery with no previous work completed other than selective grab samples collected during previous limited prospecting programs. Precious and base metal mineralization is associated with pyrite-rich accumulations/nodules in graphitic argillaceous black shale. Selective grab samples have returned assay values as high as 5.86 g/t gold, 8.0 g/t silver, 0.13% copper, and 375 ppm molybdenum.
The style of mineralization at the Gunners Cove Property is very unique and is quite possibly the only project of its kind in Canada, with anomalous gold, silver and base metals, in this type of geological environment. Although there is still much to learn about the geological environment of the property, there are some global examples of significant gold projects hosted or associated with nodular pyrite-bearing black shale units, which may have some similarities to the Gunners Cove property. Anomalous gold in nodular pyrite hosted by black shale occur in association with:
(a) the Kalgoorlie Goldfields gold deposits in Australia,
(b) the Sokio Log deposit in Russia and,
(c) the Moro do Ouro/Paracatu deposit in Brazil.
Based on positive sampling results to date, an airborne and radiometric survey is proposed over the property to assist in tracing the prospective gold bearing horizon along strike.
Shebandowan Property, Ontario
In Ontario, the Shebandowan Property, located 100km west of the city of Thunder Bay, hosts two historic non-43-101 compliant resources known as the East Vanguard and the West Vanguard. The East Vanguard hosts 100,000 tonnes of 1.8%Cu, 4.5% Cu, 6.8g/t Ag, and 5g/t Au. The West Vanguard hosts 200,000 tonnes of 1.3%Cu, 1.5% Zn, 8.62g/t Ag and 4g/t Au.
Currently, White Metal has an option agreement with Benton Resources securing a strategic land package in the Shebandowan Belt and enlarging its holdings substantially. White Metal has completed soil sampling, prospecting, mapping and trenching of some of the favourable targets. A drill program is scheduled for early 2018 to test some of the target areas. It should be noted that immediately south of the White Metal claims, Wesdome Gold Mines has completed a large diamond drill program in the East Coldstream Deposit area which hosts 34 million tonnes of 0.79g/t Au, and also on the Moss Lake deposit which hosts 100.2 million tonnes of 1.1g/t Au and has a NI 43-101 PEA dated as recent as 2013 on the property.
Pickle Lake, Ontario
The Company also has an extensive land position in the Pickle Area which includes the South Limb Property located within kilometres of the Town of Pickle Lake. This property is directly on strike with the Donna Lake Mine which produced 220,000 ounces of gold. The target on this property is an interpreted fold nose within iron formation similar to the Au mineralization found at the Dona Lake Mine. White Metal also has two other properties that are located west of the Town of Pickle Lake known as the Kasagiminnis and Dorothy Dobie properties. The Kasagiminnis Property hosts a non-43-101 compliant resource of 400,400 ounces of gold. West of the Kasagiminnis Property is Barrick Gold’s Golden Patricia mine which produced 500,000 ounces at an average grade of 20g/t Au. West and along strike of the Golden Patricia mine is the Dorothy Dobie Property. This property has several non-43-101 compliant resources such as the Dobie Zone which host 300,000 tonnes of 5 g/t Au and the Main Zone which host 230,000 tonnes of 6.17 g/t Au. All of the Pickle Lake area properties are currently under option to Ardiden Ltd.
Corporate Presentation
March 2018