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White Metal Options Williams Gold Property, Southeast of Sokoman Iron, Central Newfoundland
Thunder Bay, Ontario--(Newsfile Corp. - October 25, 2018) - W hite Metal Resources Corp. (TS...
About this update from Thunder Gold Corp.
[{"type":"text","content":"\nWhite Metal Options Williams Gold Property, Southeast of Sokoman Iron, Central NewfoundlandThunder Bay, Ontario--(Newsfile Corp. - October 25, 2018) - White Metal Resources Corp. (TSXV: WHM) (\"White Metal\" or the \"Company\") is pleased to announce that the Company has entered into an option agreement (the 'Option\") for a 100% interest in the Williams Gold Property (the \"Property\") located approximately 40 km southeast of the Moosehead Gold Property of Sokoman Iron Corp. (\"Sokoman Iron\") and 12 km southwest the Clarks Brook Gold Property of Sokoman Iron. The Property is approximately 40 km southwest of the town of Glenwood, is accessible by resource roads that originate from the Trans-Canada Highway. 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 up to 52 g/t Au (1.52 oz/t Au). Mineralized and quartz-veined granites, black shales, siltstones and volcanics are found 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 Vendor 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 (As) with some assays returning >1000 ppm As.The Property is situated within the Botwood Basin, with the eastern half of the Property underlain by Cambrian to Ordovician siliciclastic sediments (Eastern Dunnage Zone; Outflow Formation) and the western half by Silurian siliciclastic sediments (Botwood Group). This is a similar geological environment to the Clarks Brook gold property to the northeast where Sokoman Iron reported a drill core intercept of 3.74 g/t Au over 3.10 metres, including 14.73 g/t Au over 0.60 metres (Sokoman Iron Corp. news release, dated April 5, 2018). Gold is generally associated with pyritic quartz veins and hosted by siltstones, sandstones, and conglomerates.To exercise the Option the Company is required to complete a series of cash payments totaling $170,000 and share issuances totalling 1,800,000 shares to the Optionor of the Property (the \"Optionor\") ...