Home / Mining Company News Releases (Unreviewed) / White Metal Stakes Tesup Lake Polymetallic Project, Ontario and Provides Corporate and Exploration Update

White Metal Stakes Tesup Lake Polymetallic Project, Ontario and Provides Corporate and Exploration Update

Thunder Bay, Ontario–(Newsfile Corp. – February 5, 2019) – White Metal Resources Corp. (TSXV: WHM) (“White Metal” or the “Company”) is pleased to announce it has acquired a 100% interest in the Tesup Lake Polymetallic Property (the “Property”) located approximately 285 km west-northwest of the Great Lakes port City of Thunder Bay. The Property, acquired through claims staking, comprises 34 mining cells covering approximately 544 hectares.

The earliest work on the Property was in the late 1990s whereby a surface magnetite zone, some 25 metres wide and extending more than 900 metres along strike, was discovered. In 1997, an airborne EM-Mag survey was completed, followed by a ground HLEM geophysical survey, which together delineated a number of Mag-EM trends and targets. Three (3) holes of dilling in 1997 focused on a geophysical anomaly referred as “Conductor B”, intersected up to 2.68% Cu, 0.14% Ni, 0.09% Co, and 9.7 g/t Ag. Numerous targets defined by magnetic highs with coincident EM anomalies remain untested. The Company is preparing a mineral exploration program over the claims that is planned to include a heliborne TDEM-Mag survey and a surface exploration program, including prospecting, geological mapping, and diamond drilling.

Newfoundland Gold Properties

The Company is actively seeking joint venture partners to explore the Williams and Little Joanna polymetallic/gold properties, located in the Botwood Basin of north-central Newfoundland, Canada.

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 of up to 52 g/t Au (1.52 oz/t Au). Mineralized and quartz-veined granites, black shales, siltstones and volcanics are apparent 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 a previous owner 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 (Sb) with some assays returning >1000 ppm As.

The Little Joanna Property (the “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 located 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 vendors assayed up to 734 grams per tonne (g/t) gold (Au) (23 oz/ton Au); 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, the Company believes that significant potential exists for the discovery of additional gold-bearing quartz veins. Past work on the Property by Noranda Exploration (1988-1989) 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. A total of seven grab samples, all with anomalous gold (+40 ppb Au), were collected by the Company 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.

Additional information on White Metal’s properties can be found on the Company website at https://www.whitemetalres.com/central-newfoundland-properties.html.

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 National Instrument 43-101.

About White Metal Resources Corp (TSXV: WHM):

White Metal Resources Corp is a junior exploration company exploring for gold in Canada.

For more information in regards to White Metal Resources Corp. you can visit the company’s Web Page at www.whitemetalres.com.

On behalf of the Board of Directors of White Metal Resources Corp.

“Jean-Pierre Colin”
Jean-Pierre Colin, President, CEO and Director

For further information contact:

Jean-Pierre Colin
President, CEO & Director
(416) 573-4300
[email protected]

or

Michael Stares
Director
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42657

 

Disclaimer: This is an unedited and minimally reviewed public mining company press release originally published at http://www.newsfilecorp.com/release/42657/White-Metal-Stakes-Tesup-Lake-Polymetallic-Project-Ontario-and-Provides-Corporate-and-Exploration-Update. We have linked to our knowledge base articles from within the content of this release in order to help explain some of the terminology used and provide continuity from previous and related news coverage. You can access more in-depth mining company project reviews on our site, as well a knowledge base of articles on mineral exploration, mining and geology-related topics.

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