Business
White Gold Corp. Commences $9M 2018 Exploration Program Focused on New Gold Discoveries and Gold Resource Expansion
TORONTO, May 10, 2018 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V:WGO) (OTC – Nasdaq Intl:WHGOF) (FRA:29W) (the “Company”) is pleased to announce the 2018 explo
About this update from White Gold Corp.
[{"type":"text","content":" TORONTO, May 10, 2018 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V:WGO) (OTC – Nasdaq Intl:WHGOF) (FRA:29W) (the “Company”) is pleased to announce the 2018 exploration program on its extensive land package, representing approximately 40% of the White Gold District in Yukon, Canada. The planned $9M fully funded 2018 program will focus on several of the Company’s previously defined high priority and newly discovered regional targets (the “Regional Program”) as well as expanding the Golden Saddle and Arc deposits on its flagship White Gold property (the “White Gold Program”). The Regional Program marks the second season of the Company’s 3-year fully funded regional exploration plan, backed by partners Agnico Eagle Mines Limited (TSX:AEM) (NYSE:AEM) and Kinross Gold Corp. (TSX:K) (NYSE:KGC). Approximately half of the Company’s planned activities in 2018 are proposed to focus on regional exploration, including over 100 rotary air blast (“RAB”) drill holes, airborne magnetic & DIGHEM surveys, over 22,000 soil samples and other exploration activates. The planned White Gold Program will comprise the other half of the Company’s activities in 2018 and includes diamond and Reverse Circulation (“RC”) drilling designed for resource expansion and exploration on the Company’s flagship White Gold property which remains open in multiple directions. The recently completed National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) mineral resource estimate for the White Gold property which defined 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 led to new interpretations of the key geological controls on the Golden Saddle deposit which will also be tested in the coming season. Highlights Include: Activities to open the White Gold Camp are underway with drilling scheduled to begin in May. Drill testing of well-defined priority targets on the Betty, Wolf and Hayes properties which lie along the extension of the Coffee Trend, host to Goldcorp Inc.’s Coffee Deposit which has been disclosed to contain a total M&I gold resource of 4.1M oz including proven and probable reserves of 2.2M oz gold. Regional Program to consist of at least 100 RAB holes, airborne magnetic & DIGHEM surveys, over 22,000 soil samples and other exploration activates across 16 of t...