Business
White Metal Initiates Drilling Program on its Tower Stock Gold Project, Ontario and Announces Non-Brokered Private Placement
Thunder Bay, Ontario--(Newsfile Corp. - January 18, 2021) - White Metal Resources Corp. (TSXV...
About this update from Thunder Gold Corp.
[{"type":"text","content":"White Metal Initiates Drilling Program on its Tower Stock Gold Project, Ontario and Announces Non-Brokered Private PlacementThunder Bay, Ontario--(Newsfile Corp. - January 18, 2021) - White Metal Resources Corp. (TSXV: WHM) (\"White Metal\" or the \"Company\") is pleased to announce that it has received the required drilling permits and will commence the first round of diamond drilling on the Tower Stock Gold Property (the \"Property\" or the \"Project\" or \"TSGP\"). White Metal recently optioned the Tower Stock Gold Property which is located about 40 km west-northwest of the port city of Thunder Bay, Ontario, and consists of 52 claims (73 units) and 3 freehold land grants or patented claims covering an area of 1 442 ha (see Company news release dated June 20, 2020).Commented Michael Stares, President & CEO of White Metal, \"Now that the Company has completed its first phase of exploration that included compilation of all historical work, prospecting and sampling, and targeting, I am very confident that our first round of drilling will prove successful. I look forward to updating our shareholders on our results as the drilling program progresses.\"Mineralization discovered to date on the Tower Stock Gold Property is classified as syenite-associated disseminated gold deposit-type similar to that of the Kirkland Lake or Malartic gold camps. More specifically, mineralization and alteration styles on the Property are similar to those found at Alamos Gold's Young-Davidson Mine, which is currently one of Canada's largest underground gold mines, forecast to produce between 135,000 to 145,000 ounces of gold for 2020 (reported by Alamos Gold). Mineralization hosted by established operations and other exploration projects is not necessarily indicative of mineralization hosted on the Company's Property.Pyrite is the main sulphide mineral and is generally an indication of anomalous levels of gold. Pyrite typically occurs as disseminations in volcanic flows, tuffs and breccia's, polymictic conglomerate, feldspar porphyry, syenite and hydrothermal breccia's commonly developed along the west contact with the syenite of the Tower Mountain Intrusive Complex (\"TMIC\"). Historical work has delineated two main areas of gold mineralization which contain historical mineral resources; the UV and Bench zones. In addition to these two zones, numer...