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White Metal's Partner Noronex Commences Airborne EM Survey on the DorWit Copper-Silver Project, Namibia
Thunder Bay, Ontario--(Newsfile Corp. - January 15, 2021) -   White Metal Resources Corp....
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[{"type":"text","content":"White Metal's Partner Noronex Commences Airborne EM Survey on the DorWit Copper-Silver Project, NamibiaThunder Bay, Ontario--(Newsfile Corp. - January 15, 2021) -  White Metal Resources Corp. (TSXV: WHM) (\"White Metal\" or the \"Company\") is pleased to announce that its partner Noronex Ltd. (ASX: NRX) (\"Noronex\") has commenced an airborne electromagnetic (\"EM\") geophysical survey over the DorWit Copper-Silver Project (the \"Property\" or the \"Project\"), located about 150 km east of Windhoek, Namibia. The EM survey is the first ever state-of-the-art airborne survey to be undertaken within the Project area. The use of the significantly improved modern technology and geophysical interpretation is intended to generate new exploration targets to expand on the 150,000 m of historical reverse circulation and diamond drilling that has already identified numerous sedimentary hosted Cu-Ag deposits.Michael Stares, President & CEO, commented, \"We are very pleased to see our exploration partners have initiated the 2021 program and specifically this airborne survey over the Witvlei and Dordabis properties. The earn-in agreement we completed Noronex confirms our project generator model which has been successful in finding a quality partner to advance the Project while maintaining a 25% interest for the Company.\"The geophysical contractor NRG will commence flying the Witvlei Property (EPL7028 and 7029) and then move to the Dordabis Property (EPL7030). Noronex is also expecting to update the historical JORC 2012 mineral resource estimates which is currently being completed by MSA Group, with initial results expected by February 2021.White Metal completed the earn-in agreement (the \"Agreement\") with a subsidiary of Noronex which novated the rights under the original earn-in deal with RZJ Capital Management LLC under which White Metal previously received a C$100,000 cash deposit. Under the Agreement, Noronex can earn up to 70% of the Project by meeting certain payment milestones and following feasibility studies, has the right to acquire White Metal's remaining interest of 25% (see Company news release dated October 16, 2019).The transaction has resulted in the additional payment of C$500,000 to White Metal via the issue of C$250,000 in shares in Noronex (represented by 5.5M Noronex shares) and the payment of C$250,000 in cash...