White Metal Reports 23.0 Metres of 2.31% Cu, 46.3 g/t Ag Including 4.0 Metres of 4.74% Cu, 65.1 g/t Ag from Final RC Drilling Results, Taranis Copper-Silver Project, Namibia
(firmenpresse) - Thunder Bay, Ontario, 18 May 2021: White Metal Resources Corp. (TSXV:WHM) (FRA: CGK1) (White Metal or the Company) is pleased report that it has received the final batch of assay results from the remaining 15 reverse circulation (RC) drill holes from its January-February 2021 drilling program (28 drill holes totalling 3,226 m) (Table 1). The Company previously announced results from 13 drill holes (see Company news releases 23 March 2021 and 8 April 2021). All drill holes from the current program targeted the area of the historical Okohongo Cu-Ag Deposit (Okohongo). The 95% owned Taranis Copper-Silver Project (the Project or Property), which includes the historical Okohongo Copper-Silver Deposit, is located in northwestern Namibia and is defined by Exclusive Prospecting Licence (EPL) 7071, covering about 19,850 hectares.
Michael Stares, President & CEO of the Company stated, We see again that the RC drill holes from Okohongo are confirming the historical results and we look forward to completing a current NI 43-101 mineral resource estimate and technical report very soon. Strong copper and silver prices have given this project a robust valuation and we look forward to receiving our Property renewal in the coming months. We will be working aggressively to maximise the value of our Namibian copper projects, while maintaining our focus on our flagship property, the Tower Stock Gold Property, located in northwestern Ontario, Canada.
Table 1. Summary of all drill holes completed in Phase 1 RC drilling program.
Drill No. *UTM_X *UTM_Y *Elev.Az DipLength Secti
Hole Samples (m) (m) on
OK20-P031 378051.79414711602.1270-6553.00 1450
1 664 .357 30
OK20-P040 378242.79414611606.8270-65111.00 1450
2 969 .932 70
OK20-P023 378474.79414661615.4270-60201.00 1450
3 104 .053 20
OK20-P031 378370.79414651624.6270-65180.00 1450
4 290 .475 69
OK20-P047 378047.79415521602.4270-6589.00 1550
5 821 .193 93
OK20-P012 378148.79415481607.7270-70100.00 1550
6 684 .958 83
OK20-P015 378423.79415551612.1270-80197.00 1550
7 230 .137 92
OK20-P09 378274.79415601609.9270-70115.00 1550
8 993 .460 76
OK20-P00 377947.79415471600.0270-70100.00 1550
9 871 .662 70
OK20-P10 378128.79416441606.1270-7038.00 1650
0 181 .238 08
OK20-P07 378218.79416571612.0270-70120.00 1650
11 374 .274 69
OK20-P034 378002.79416481619.0270-8095.00 1650
12 120 .965 98
OK20-P026 378317.79416451614.4270-70160.00 1650
13 677 .360 43
OK20-P05 378115.79417561610.6270-70119.00 1750
14 797 .740 38
OK20-P00 378221.79417581621.2270-7095.00 1750
15 077 .902 47
OK20-P00 378482.79413641618.0270-70199.00 1350
16 096 .785 86
OK20-P020 378055.79413501623.9270-6570.00 1350
17 934 .870 23
OK20-P047 378348.79413491637.1270-65171.00 1350
18 414 .796 69
OK20-P035 378221.79413491610.6270-70109.00 1350
19 057 .919 98
OK20-P040 378165.79413501607.9270-6980.00 1350
20 287 .504 57
OK20-P033 378363.79412451642.7270-70172.00 1250
22 972 .554 15
OK20-P014 378059.79412511632.3270-7066.00 1250
23 842 .587 37
OK20-P035 378215.79412471613.4270-70100.00 1250
24 194 .782 10
OK20-P030 378154.79414571604.5270-7075.00 1450
25 588 .803 65
OK20-P06 378361.79411441645.8270-70135.00 1150
26 575 .705 09
OK20-P047 378223.79411581618.1270-70103.00 1150
27 803 .224 48
OK20-P06 378101.79411551635.2270-7065.00 1150
28 417 .752 71
OK20-P028 378127.79416371605.9270-70108.00 1650
29 567 .621 23
28 621 3,226.0
0
*determined by DGPS survey (WGS84 UTM Zone 33S)
The recently completed RC drilling program (OK20-P series holes) on the Property was aimed at twinning, as close as possible and as reflected in Table 2, many of the RC drill holes that were used to calculate the 2011 historical mineral resource estimate, but did include some newly located holes.
Table 2. Selected intercepts from the final batch of RC drill holes.
Drill From To Int. Ag Cu Pb Zn Cu Historica
Hole (m) (m) (m) (pp (ppm (pp (ppm (%)l Drill
m) ) m) ) Hole
OK20-P0138.0142.04.00 2.4 1602 3443111 0.16New Hole
4 0 0
and 145.0171.026.0045.215962326 115 1.60
0 0
incl. 151.0157.06.00 151.54733426 124 5.47
0 0 8
incl. 153.0154.01.00 137.1240071 105 12.4
0 0 0 0 0
OK20-P040.0041.001.00 2.6 1250020 65 1.25New Hole
17
and 57.0063.006.00 31.621823526 99 2.18
OK20-P068.00101.033.0014.19198 955 101 0.92INVR-012
19 0
incl. 75.0092.0017.0019.2117751694106 1.18
OK20-P028.0031.003.00 1.7 1642 13 66 0.16INVR-011
20
and 39.0048.009.00 13.11045326 76 1.05
incl. 44.0046.002.00 41.32880016 117 2.88
and 56.0070.0014.0015.46956 1024106 0.70
incl. 63.0066.003.00 17.013533959 119 1.35
OK20-P043.0047.004.00 8.3 12330119 94 1.23INVR-013
24
incl. 43.0045.002.00 13.520300211 75 2.03
and 73.0094.0021.0028.217734145 97 1.77
incl. 79.0091.0012.0044.228465142 93 2.85
incl. 79.0087.008.00 60.639488193 98 3.95
OK20-P036.0038.002.00 3.1 5575 149 67 0.56INVR-001
25
and 47.0070.0023.0046.3231301108110 2.31
incl. 57.0061.004.00 65.147425211398 4.74
OK20-P0123.0126.03.00 32.324212100 94 2.42INVR-066
26 0 0
OK20-P040.0047.007.00 2.9 1875 104 135 0.19INVR-014
27
and 55.0060.005.00 1.2 1450 21 30 0.15
and 63.0070.007.00 2.9 2670 19 62 0.27
and 74.0098.0024.0016.61113419 101 1.11
incl. 81.0090.009.00 32.82089022 110 2.09
OK20-P045.0048.003.00 5.0 4420 48 33 0.44INVR-018
28
OK20-P022.0030.008.00 4.5 2737 55 86 0.27INVR-008
29
and 88.00104.016.0018.71250021 140 1.25
0
incl. 99.00102.03.00 73.04956717 122 4.96
0
There were no significant intersections in drill hole OK20-P013 and drill holes OK20-P09, -010, -015, and -016 did not intersect visible copper mineralization and were therefore not sampled. Intervals shown in Table 2 are not true widths but rather, refer to the RC chip sample intervals that were assayed.
Now that the Company has received all the results from the recently completed drilling program it will begin the process of updating the historical mineral resources from the Okohongo Cu-Ag Deposit to a current National Instrument 43-101 (NI 43-101) mineral resource estimate and technical report.
The historical Okohongo Cu-Ag Deposit has been outlined by historical and current drilling which shows that it extends for 600+ metres in strike length, 400 metres down-dip, and is open in all directions (see INV Metals news release dated August 3, 2011). The Okohongo, situated within the Kaoko Belt of northwest Namibia about 700 km northwest of Windhoek, is hosted by metasedimentary stratigraphy and is considered to be analogous with the stratiform sediment-hosted Central African Copperbelt deposits of Zambia and the Democratic Republic of the Congo. This deposit contains historical Inferred Mineral Resources of 10.2 million tonnes grading 1.12% Cu and 17.75 g/t Ag, using a 0.3% Cu cut-off (Table 3; INV Metals Inc. NI 43-101 Technical Report, Effective Date March 31, 2011).
Table 3. Cut-off sensitivity for historical mineral resources (2011), Okohongo Cu-Ag Deposit, Namibia.
Cut-oSpecific Tonnes Cu Ag Cu Ag Catego
ff Gravity (%) (g/t (tonne (ouncery
) s) s)
0.0 2.45 11,6911.0115.85 11 5,95Inferr
,539 7,645 7,874 ed
0.1 2.45 11,6821.0115.86 11 5,95Inferr
,796 7,640 7,640 ed
0.2 2.45 11,4531.0216.13 11 5,94Inferr
,414 7,219 0,047 ed
0.3 2.45 10,1961.1217.75 11 5,81Inferr
,456 4,046 8,534 ed
0.4 2.45 9,531.1718.66 11 5,71Inferr
5,538 1,731 9,226 ed
0.5 2.45 8,701.2419.73 10 5,52Inferr
5,239 7,993 2,454 ed
0.6 2.45 8,141.2920.50 10 5,36Inferr
2,684 4,877 6,572 ed
0.7 2.45 7,361.3521.61 5,11Inferr
6,110 99,810 6,714 ed
0.8 2.45 6,371.4523.16 4,75Inferr
9,793 92,402 0,190 ed
source: NI 43-101 Technical Report on the Okohongo Copper-Silver Property in Northwest Namibia, INV Metals Inc.; Prepared By: Caracle Creek International Consulting (Pty) Ltd., South Africa, Effective March 31, 2011.
The Company is treating the tonnages and grades reported in Table 3 as historical mineral resources. The Inferred mineral resource estimate reported in Table 3 for the Okohongo Copper-Silver Deposit was prepared by qualified authors in 2011, conforming to CIM Definition Standards on Mineral Resources and Mineral Reserves as outlined in National Instrument 43-101, Standards of Disclosure for Mineral Projects at the time of disclosure. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves and the Company is not treating the historical estimates as current mineral resources or mineral reserves. Investors are cautioned that the historical estimates do not mean or imply that economic deposits exist on the Property. The Company has not undertaken any independent investigation of the historical estimates or other information contained in this news release nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information. The Company believes that this historical estimate and other information contained in this news release are relevant to continuing exploration on the Property.
Sample Analysis
RC chip samples were sent to the Activation Laboratories Ltd. (Actlabs) preparation lab in Windhoek, Namibia and once prepared were sent to Actlabs in Ancaster, Ontario, Canada for analyses. The samples were first analysed with 4-Acid Near Total Digestion (1F2) with ICP-OES finish for Ag, Cu and a suite of 33 other elements. Subsequently, samples with Ag greater than 100 ppm (above Ag upper detection limit) were analysed with Fire Assay Gravimetric (8-Ag) and Cu greater than 10,000 ppm (above Cu upper detection limit) were analysed with sodium peroxide fusion with ICP-OES finish (8-Peroxide ICP). A Quality Control/Quality Assurance (QA/QC) program consisting of the regular insertion of Certified Reference Material copper-silver standards and blanks into the sample stream by the Company was in place as was the industry standard internal QA/QC practices used by Actlabs.
Qualified Person
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 NI 43-101.
About White Metal Resources Corp:
White Metal Resources Corp is a junior exploration company exploring in Canada and southern Africa. For more information about the Company please visit www.whitemetalres.com.
On behalf of the Board of Directors
"Michael Stares"
President & CEO
For further information contact:
Michael Stares
President & CEO
White Metal Resources Corp.
Phone: +1 (807) 358-2420
Nancy Massicotte
Investor Relations
IR Pro Communications Inc.
Phone: +1 (604) 507-3377
TF: +1 (866) 503-3377
nancy(at)irprocommunications.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company''s expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company''s prospects, properties and business detailed elsewhere in the Company''s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company''s expectations or projections
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Datum: 18.05.2021 - 08:33 Uhr
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