Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • White Gold (WGO) is pleased to announce results for the maiden diamond drilling program on the company’s Betty Property
  • Six diamond drill holes totalling 1,364m tested the Betty Ford target
  • Two of the six diamond drill holes intersected significant broad zones of near surface gold mineralization
  • David D’Onofrio, President & CEO of White Gold Corp. sat down with Caroline Egan to highlight the drill program results
  • White Gold Corp. is a Canadian gold exploration company
  • White Gold Corp. (WGO) is up 17.91 per cent on the day, trading at C$0.79 per share at 2pm ET

White Gold (WGO) is pleased to announce results for the maiden diamond drilling program on the company’s Betty Property in west-central Yukon, Canada.

This work forms part of the company’s 2021 exploration program backed by partners Agnico Eagle Mines Limited and Kinross Gold Corporation on its extensive 420,000-hectare land package in the emerging White Gold District, Yukon.

Highlights:

  • 6 diamond drill holes totalling 1,364m tested the Betty Ford target along an approximately 500m strike length, with hole lengths ranging from 190 to 278m.
  • 2 of 6 diamond drill holes intersected significant broad zones of near surface gold mineralization across a 100m strike length, including:
    • Hole D003 intersected 50.0m of 3.46 g/t Au from 33.0m including a higher-grade core of 5.25 g/t Au over 19.0m down hole and an upper zone of 1.14 g/t Au over 6.1m from 15.9m.
    • Hole D001 intersected 48.0m of 1.17 g/t Au from 19.0m including a higher-grade core of 2.38 g/t Au over 10.0m and an upper zone of 9.03 g/t Au over 1.0m from 6.0m.
  • Drilling encountered 2 styles of mineralization: 1) broad zones (50m) of gold-silver mineralization within the polylithic breccia in holes BETFD21D001 and 003; and 2) narrower zones (1-5m) of silver-zinc-lead mineralization which was intersected in all holes.
  • The Betty property is located on the eastern extension of the Coffee Creek Fault, which hosts Newmont’s Coffee deposit.
  • The 2021 maiden diamond drill program focused on 2 of 5 targets identified on the Betty property, with drill testing of the other targets planned for next year’s program.
  • A detailed review of all available exploration and drilling data is currently in progress to help guide further drill testing.

David D’Onofrio, President & CEO of White Gold Corp. sat down with Caroline Egan to highlight the drill program results.

“We are very excited by the results from our maiden diamond drill program on the Betty Ford target. Hole 3 ranks amongst the best holes drilled in the district, including at our flagship Golden Saddle deposit, and has considerably extended the recently discovered broad zone of near surface gold mineralization, while encountering significantly higher-grade gold mineralization and remains open along strike. We look forward to following up on these exciting results and to testing the other prospective targets on the Betty property, located in such close proximity to existing large gold and copper deposits and situated along the same fault structure.”

The Betty property comprises 860 quartz claims which cover an area of 17,127 hectares and is strategically located contiguous to and 15 km northeast of Western Copper and Gold Corporation’s Casino porphyry deposit and 40 km east of Newmont Corporation’s Coffee Gold deposit.

White Gold Corp. is a Canadian gold exploration company operating exclusively in the prolific White Gold District located south of Dawson City in northwest Yukon, Canada. The company owns a portfolio of 21,111 quartz claims across 31 properties.

White Gold Corp. (WGO) is up 17.91 per cent on the day, trading at C$0.79 per share at 2pm ET.

More From The Market Herald

" GoldHaven Resources (CSE:GOH) closes private placements

GoldHaven (GOH) has closed its private placements for aggregate proceeds of $1,762,803.

" Sherpa II Holdings Corp. (TSXV:SHRP) closes private placement

Sherpa (SHRP) has closed its previously announced non-brokered private placement for aggregate gross proceeds of $470,000.

" PNG Copper Inc. (CSE:PNGC) issues corporate updates

PNG Copper (PNGC) has filed its financial statements and MD&A for Q3.

" Pershimex (TSXV:PRO) begins drilling on the Villebon Property

Pershimex Resources Corporation (PRO) has begun a new drilling campaign on its Villebon Property in Quebec.