Announcement Date: 2022-05-02
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: White Metal Resources Corp.
Project name: Tower Mountain
Location: Canada
Commodities: Gold
Highlight: Drilling results incl. 466.5m @ 0.51g/t Au
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Thunder Bay, Ontario–(Newsfile Corp. – May 2, 2022) – White Metal Resources Corp. (TSXV: WHM) (FSE: CGK1) (OTC Pink: TNMLF) (“White Metal” or the “Company”) is pleased to announce the final assay results from Phase 3 diamond drilling at the Tower Mountain Gold Project (“Tower Gold” or the “Project” or the “Property”). Tower Gold is located about 50 km west of the port city of Thunder Bay, Ontario, Canada. To date, White Metal has completed three phases of drilling totalling 10,813 m in 48 holes. Significant results from Phase 3 drilling are summarized in Table 1 and a plan map showing the location of drill holes and the various gold zones is provided in Figure 1. Details of the drilling and associated results are available at the Company’s website (www.whitemetalres.com/tower-mountain-au.html (https://www.newsfilecorp.com/redirect/2JZKvSMW3K)). Scott Jobin Bevans, interim CEO notes, “These latest results continue to demonstrate that the Tower Mountain Gold Project has a significant gold endowment with excellent potential to identify a large tonnage, low grade, multi-million ounce gold discovery, similar to what has been established elsewhere within the Shebandowan Greenstone Belt (SBG). We believe the gold potential of the SBG was largely ignored due to the low-grade nature of known occurrences. Both Malartic and Detour Lake are multi-million ounce projects with average grade of less than 1.0 g/t gold. Our drilling to date at Tower Gold has established low-grade gold mineralization for over 2,500 metres along strike, across an average 300 metres width, to depths in excess of 300 metres. Our 2021-22 Phase 3 drilling program successfully extended the known strike and down-dip extent of the low grade envelope and surface prospecting in 2021 identified numerous gold targets within the claim boundary that are, as yet, untested. We believe the Tower Mountain Gold Project is a compelling exploration opportunity in an emerging gold camp.
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