Commences Drilling at High-Grade Zinc VMS Project
Commences Drilling at High-Grade Zinc VMS Project
Ballarat, May 23, 2018 AEST (ABN Newswire) - White Rock Minerals Ltd (ASX:WRM) ("White Rock" or the "Company") is pleased to announce that its 2018 exploration program is now underway and drilling has commenced at its globally significant(see Note 1 below) 100% owned high-grade zinc VMS project at Red Mountain in Alaska.

The field program includes:-

- A targeted diamond drilling program aimed at in-fill and expansion of the high grade maiden Resource,

- Surface geophysics, mapping and geochemical sampling of new targets, and

- A follow-up diamond drilling program on the best of the more than 30 already identified exploration targets.

The first crews have mobilised with the camp now established (see Figure 1 in link below) and the field and drilling crews now occupying this camp. Drilling has commenced with the first diamond drill hole underway at the West Tundra Flats deposit (see Figure 2 in link below). In addition, a geological crew has commenced reconnaissance mapping and geochemical sampling of the new target areas ahead of the planned arrival of the surface geophysics crew in early June.

Drilling Campaign

The initial drilling campaign aims to infill and extend the Maiden Resource which already has two identified deposits (Dry Creek and West Tundra Flats) and a Resource base of 16.7Mt at 8.9% ZnEq(see Note 2 below) including a high-grade component of 9.1Mt @ 12.9% ZnEq(see Note 2 below) (refer ASX announcement 26 April 2017 regarding the maiden Mineral Resource).

This drilling is aimed to follow-up on drilling last done in the 1990s, which included the following done at West Tundra Flats (the first deposit being drilled in the current program):-

- 1.3m @ 21.0% Zn, 796g/t Ag, 9.2% Pb, 10.2g/t Au from 58.6m (WTF83-17),

- 3.0m @ 7.3% Zn, 796g/t Ag, 4.3% Pb, 1.1g/t Au from160.9m (WTF82-08),

- 1.7m @ 11.4% Zn, 374g/t Ag, 6.0% Pb, 1.7g/t Au from 104.3m (WTF82-05).

(refer ASX Announcement dated 15 February 2016 "White Rock Minerals proposes to acquire VMS project in Alaska".)

About Red Mountain (as more fully set out in the ASX Announcement dated 15 February 2016)

- The Red Mountain Project is located in central Alaska, 100km south of Fairbanks, in the Bonnifield Mining District. The tenement package comprises 224 mining claims over a total area of 143km2.

- The Red Mountain Project contains polymetallic VMS mineralisation rich in zinc, silver and lead, with potential for significant gold and copper.

- Mineralisation occurs from surface and is open along strike and down-dip.

- White Rock used historical drilling to determine a maiden JORC 2012 Mineral Resource estimate for the Dry Creek and West Tundra Flats deposit (ASX Announcement 26th April 2017). The Inferred Mineral Resource contains an impressive base metal and precious metal content with 678,000t zinc, 286,000t lead, 53.5 million ounces silver and 352,000 ounces gold.

- Good preliminary metallurgical recoveries of >90% zinc, >75% lead, >80% gold, >70% silver and >70% copper.

- Previous drilling highlights (ASX Announcement 15th February 2016) include:

Dry Creek

o 4.6m @ 23.5% Zn, 531g/t Ag, 8.5% Pb, 1.5g/t Au & 1.0% Cu from 6.1m

o 5.5m @ 25.9% Zn, 346g/t Ag, 11.7% Pb, 2.5g/t Au & 0.9% Cu from 69.5m

o 7.1m @ 15.1% Zn, 334g/t Ag, 6.8% Pb, 0.9g/t Au & 0.3% Cu from39.1m

West Tundra Flats

o 1.3m @ 21.0% Zn, 796g/t Ag,9.2% Pb, 10.2g/t Au & 0.6% Cu from 58.6m

o 3.0m @ 7.3% Zn, 796g/t Ag, 4.3% Pb, 1.1g/t Au & 0.2% Cu from160.9m

o 1.7m @ 11.4% Zn, 372g/t Ag, 6.0% Pb, 1.7g/t Au & 0.2% Cu from 104.3m

- VMS deposits typically occur in clusters ("VMS camps"). Deposit sizes within camps typically follow a log normal distribution, and deposits within camps typically occur at regular spacing. The known deposits at Dry Creek and West Tundra Flats provide valuable information with which to vector and target additional new deposits within the Red Mountain camp.

- Interpretation of the geologic setting indicates conditions that enhance the prospectivity for gold-rich mineralisation within the VMS system at Red Mountain. Gold mineralisation is usually found at the top of VMS base metal deposits or adjacent in the overlying sediments. Gold bearing host rocks are commonly not enriched in base metals and consequently often missed during early exploration sampling. This provides an exciting opportunity for potential further discoveries at Red Mountain.

- White Rock sees significant discovery potential, given the lack of modern day exploration at Red Mountain. This is further enhanced by the very nature of VMS clustering in camps, and the potentially large areas over which these can occur.

Notes:

1 Refer ASX Announcement dated 26 September 2017 "White Rock Minerals Independent Research Report"

2 ZnEq = Zinc equivalent grades are estimated using long-term broker consensus estimates compiled by RFC Ambrian as at 20 March 2017 adjusted for recoveries from historical metallurgical test work and calculated with the formula: ZnEq =100 x [(Zn% x 2,206.7 x 0.9) + (Pb% x 1,922 x 0.75) + (Cu% x 6,274 x 0.70) + (Ag g/t x (19.68/31.1035) x 0.70) + (Au g/t x (1,227/31.1035) x 0.80)] / (2,206.7 x 0.9).

White Rock is of the opinion that all elements included in the metal equivalent calculation have reasonable potential to be recovered and sold.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/7086KG12


About White Rock Minerals Ltd

 White Rock Minerals Ltd (ASX:WRM) is an Australian listed minerals exploration and development company with projects located in northern NSW (gold and silver) and central Alaska (zinc, silver, lead and gold). The White Rock vision is to explore and develop both precious and base metal projects.

White Rock's cornerstone asset is the Mt Carrington epithermal gold-silver project in northern NSW. The Mt Carrington project has great leverage to the Australian gold and silver prices with a positive scoping study providing a path towards feasibility studies and development in the near term.

White Rock is also exploring the Red Mountain project in Alaska. Red Mountain is a globally significant advanced VMS project with high grade zinc and silver in two deposits. White Rock is exploring for additional high grade deposits that will enhance the projects leverage to an upturn in the fortunes of zinc and silver.

 


Contact

Matthew Gill (Managing Director & CEO)
Phone: +61-3-5331-4644
E-mail: info@whiterockminerals.com.au

Shane Turner (Company Secretary)
Phone: +61-3-5331-4644
Website: www.whiterockminerals.com.au



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