TORONTO, April 20, 2018 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V:WGO) (OTC – Nasdaq Intl:WHGOF) (FRA:29W) (the "Company") is pleased to announce that, further to its news release dated March 5, 2018, the Company has filed a National Instrument 43-101 ("NI 43-101") technical report outlining a mineral resource estimate for the White Gold property located in Yukon, Canada.
Resource highlights Include:
- Indicated mineral resource of 961,000 gold ounces at 2.43 g/t gold and Inferred mineral resource of 282,500 gold ounces at 1.70 g/t gold in the Golden Saddle and Arc deposits.
- A consistent high-grade core on the Golden Saddle deposit contains 832,000 gold ounces at a grade of 2.96 g/t gold Indicated and 107,000 gold ounces at a grade of 3.18 g/t gold Inferred using a >1 g/t cut-off. Included in this high-grade core is 525,600 gold ounces at a grade of 4.68 g/t gold Indicated and 81,900 gold ounces at a grade of 4.74 g/t gold Inferred using a >3 g/t cut-off.
- Mineralization on the Golden Saddle and Arc deposits has been shown to extend beyond the limits of the current resource estimate, with geologic models conceptually estimating 7 to 10 million tonnes grading between 1 to 1.5 g/t gold.
- Mineralization on all zones is open along strike, down dip and down plunge with grades increasing at depth.
Detailed images of the resource model and additional information regarding the resource can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.
The NI 43-101 technical report entitled "Independent Mineral Resource Estimate for the White Gold Project, Dawson Range, Yukon, Canada" was prepared by Canadian-based Arseneau Consulting Services Inc. The technical report is available for review on SEDAR at www.sedar.com on the Company's profile and on the Company’s website at www.whitegoldcorp.ca.
The company is in the process of finalizing the 2018 exploration plan which will focus on growing the existing mineral resource as well as targeting high-priority regional targets. Details of the 2018 exploration program will be provided in the coming weeks.
About White Gold Corp.
The Company owns a portfolio of 19,606 quartz claims across 30 properties covering over 390,000 hectares representing approximately 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 960,970 ounces Indicated at 2.43 g/t gold and 262,220 ounces Inferred at 1.70 g/t gold. Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Goldcorp Inc. and Western Copper and Gold Corporation’s Casino project. The Company has outlined an aggressive exploration plan to further explore its properties. For more information visit www.whitegoldcorp.ca.
Qualified Person
Jodie Gibson, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under NI 43-101 and has reviewed and approved the content of this news release.
Cautionary Note Regarding Forward Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements"). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to anticipated benefits to the Company of the Nasdaq International Designation.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; failure to identify mineral resources; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the White Gold properties and the Company’s other properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described under the heading "Risks and Uncertainties" in the Company’s most recently filed management’s discussion and analysis. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(416) 643-3880
ddonofrio@whitegoldcorp.ca