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
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 Hole
No. Samples
*UTM_X
*UTM_Y
*Elev. (m)
Az
Dip
Length (m)
Section
OK20-P01
31
378051.664
7941471.357
1602.130
270
-65
53.00
1450
OK20-P02
40
378242.969
7941461.932
1606.870
270
-65
111.00
1450
OK20-P03
23
378474.104
7941466.053
1615.420
270
-60
201.00
1450
OK20-P04
31
378370.290
7941465.475
1624.669
270
-65
180.00
1450
OK20-P05
47
378047.821
7941552.193
1602.493
270
-65
89.00
1550
OK20-P06
12
378148.684
7941548.958
1607.783
270
-70
100.00
1550
OK20-P07
15
378423.230
7941555.137
1612.192
270
-80
197.00
1550
OK20-P08
9
378274.993
7941560.460
1609.976
270
-70
115.00
1550
OK20-P09
0
377947.871
7941547.662
1600.070
270
-70
100.00
1550
OK20-P10
0
378128.181
7941644.238
1606.108
270
-70
38.00
1650
OK20-P011
7
378218.374
7941657.274
1612.069
270
-70
120.00
1650
OK20-P012
34
378002.120
7941648.965
1619.098
270
-80
95.00
1650
OK20-P013
26
378317.677
7941645.360
1614.443
270
-70
160.00
1650
OK20-P014
5
378115.797
7941756.740
1610.638
270
-70
119.00
1750
OK20-P015
0
378221.077
7941758.902
1621.247
270
-70
95.00
1750
OK20-P016
0
378482.096
7941364.785
1618.086
270
-70
199.00
1350
OK20-P017
20
378055.934
7941350.870
1623.923
270
-65
70.00
1350
OK20-P018
47
378348.414
7941349.796
1637.169
270
-65
171.00
1350
OK20-P019
35
378221.057
7941349.919
1610.698
270
-70
109.00
1350
OK20-P020
40
378165.287
7941350.504
1607.957
270
-69
80.00
1350
OK20-P022
33
378363.972
7941245.554
1642.715
270
-70
172.00
1250
OK20-P023
14
378059.842
7941251.587
1632.337
270
-70
66.00
1250
OK20-P024
35
378215.194
7941247.782
1613.410
270
-70
100.00
1250
OK20-P025
30
378154.588
7941457.803
1604.565
270
-70
75.00
1450
OK20-P026
6
378361.575
7941144.705
1645.809
270
-70
135.00
1150
OK20-P027
47
378223.803
7941158.224
1618.148
270
-70
103.00
1150
OK20-P028
6
378101.417
7941155.752
1635.271
270
-70
65.00
1150
OK20-P029
28
378127.567
7941637.621
1605.923
270
-70
108.00
1650
28
621
3,226.00
*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 Hole
From (m)
To (m)
Int. (m)
Ag (ppm)
Cu (ppm)
Pb (ppm)
Zn (ppm)
Cu (%)
Historical Drill Hole
OK20-P04
138.00
142.00
4.00
2.4
1602
3443
111
0.16
New Hole
and
145.00
171.00
26.00
45.2
15962
326
115
1.60
incl.
151.00
157.00
6.00
151.8
54733
426
124
5.47
incl.
153.00
154.00
1.00
137.0
124000
71
105
12.40
OK20-P017
40.00
41.00
1.00
2.6
12500
20
65
1.25
New Hole
and
57.00
63.00
6.00
31.6
21823
526
99
2.18
OK20-P019
68.00
101.00
33.00
14.1
9198
955
101
0.92
INVR-012
incl.
75.00
92.00
17.00
19.2
11775
1694
106
1.18
OK20-P020
28.00
31.00
3.00
1.7
1642
13
66
0.16
INVR-011
and
39.00
48.00
9.00
13.1
10453
26
76
1.05
incl.
44.00
46.00
2.00
41.3
28800
16
117
2.88
and
56.00
70.00
14.00
15.4
6956
1024
106
0.70
incl.
63.00
66.00
3.00
17.0
13533
959
119
1.35
OK20-P024
43.00
47.00
4.00
8.3
12330
119
94
1.23
INVR-013
incl.
43.00
45.00
2.00
13.5
20300
211
75
2.03
and
73.00
94.00
21.00
28.2
17734
145
97
1.77
incl.
79.00
91.00
12.00
44.2
28465
142
93
2.85
incl.
79.00
87.00
8.00
60.6
39488
193
98
3.95
OK20-P025
36.00
38.00
2.00
3.1
5575
149
67
0.56
INVR-001
and
47.00
70.00
23.00
46.3
23130
1108
110
2.31
incl.
57.00
61.00
4.00
65.1
47425
2113
98
4.74
OK20-P026
123.00
126.00
3.00
32.3
24212
100
94
2.42
INVR-066
OK20-P027
40.00
47.00
7.00
2.9
1875
104
135
0.19
INVR-014
and
55.00
60.00
5.00
1.2
1450
21
30
0.15
and
63.00
70.00
7.00
2.9
2670
19
62
0.27
and
74.00
98.00
24.00
16.6
11134
19
101
1.11
incl.
81.00
90.00
9.00
32.8
20890
22
110
2.09
OK20-P028
45.00
48.00
3.00
5.0
4420
48
33
0.44
INVR-018
OK20-P029
22.00
30.00
8.00
4.5
2737
55
86
0.27
INVR-008
and
88.00
104.00
16.00
18.7
12500
21
140
1.25
incl.
99.00
102.00
3.00
73.0
49567
17
122
4.96
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-off
Specific Gravity
Tonnes
Cu (%)
Ag (g/t)
Cu (tonnes)
Ag (ounces)
Category
0.0
2.45
11,691,539
1.01
15.85
117,645
5,957,874
Inferred
0.1
2.45
11,682,796
1.01
15.86
117,640
5,957,640
Inferred
0.2
2.45
11,453,414
1.02
16.13
117,219
5,940,047
Inferred
0.3
2.45
10,196,456
1.12
17.75
114,046
5,818,534
Inferred
0.4
2.45
9,535,538
1.17
18.66
111,731
5,719,226
Inferred
0.5
2.45
8,705,239
1.24
19.73
107,993
5,522,454
Inferred
0.6
2.45
8,142,684
1.29
20.50
104,877
5,366,572
Inferred
0.7
2.45
7,366,110
1.35
21.61
99,810
5,116,714
Inferred
0.8
2.45
6,379,793
1.45
23.16
92,402
4,750,190
Inferred
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
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