Zinc-Silver-Gold Drill Intersections Extend Mineralisation at Red Mountain
Zinc-Silver-Gold Drill Intersections Extend Mineralisation at Red Mountain
Ballarat, Sep 24, 2018 AEST (ABN Newswire) - White Rock Minerals Ltd (ASX:WRM) ("White Rock" or the "Company") is pleased to announce that assay results for a further 6 diamond drill holes have been received. Targets tested by these drill holes included extensions to the Dry Creek Deposit (the Discovery lens and the Fosters Gap targets), as well as a series of newly identified targets away from the known deposits at Dry Creek West, Ram and Megan's South. Results for a further 7 diamond drill holes remain outstanding and are expected within the next month(see Note 2 below).

MD & CEO Matt Gill said "This drilling represents a significant extension to the Dry Creek deposit and notably down dip at both the Fosters and Discovery lenses. The recent results also include the testing of more distant targets identified from our work based on the earlier data and supported by our recent on-ground reconnaissance work, followed by the application of the CSAMT geophysics tool. The results do point to broad VMS mineralisation zones, containing zinc, lead, silver, gold and copper, that warrant follow-up in 2019. The discovery of mineralisation some distance from the known deposits supports our expectation that continuing exploration of The Red Mountain area will confirm a significant VMS camp."

Highlights from the current assay results include:

- 4.2m @ 5.9% zinc, 2.5% lead, 96g/t silver, 0.9g/t gold and 0.1% copper for 11.4% ZnEq(see Note 1 below) (DC18-82) from the Discovery lens, Dry Creek deposit.

- 5.2m @ 2.5% zinc, 0.9% lead, 12g/t silver, 0.1g/t gold and 0.1% copper for 3.7% ZnEq(see Note 1 below) (DC18-84) from the Foster lens, Dry Creek deposit.

- 5.2m @ 2.0% zinc, 0.9% lead, 39g/t silver, 0.2g/t gold and 0.1% copper for 3.9% ZnEq(see Note 1 below) (DC18-85) from the Foster lens, Dry Creek deposit.

- 7.6m @ 1.4 zinc, 0.4% lead, 4g/t silver, 0.1g/t gold and 0.1% copper for 2.1% ZnEq(see Note 1 below) (DC18-86) from the Ram prospect.

The diamond drilling results are part of White Rock's maiden drill campaign at the Red Mountain project, where there are two existing deposits, Dry Creek and West Tundra, which already have a Resource base of 16.7Mt at 8.9% ZnEq(see Note 1 below) including a high-grade component of 9.1Mt @ 12.9% ZnEq(see Note 1 below) (refer ASX announcement 26 April 2017 regarding the maiden Mineral Resource).

Results for DC18-82 to DC18-87 are summarised in Table 1(see link below).

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 230 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 26 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 15 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 from 39.1m

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 from 160.9m

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.


1 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.

2 The ASX Release dated 20 September incorrectly stated that assays were awaited for 7 drill holes. This should have said 13 drill holes.

To view tables and figures, please visit:

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.



Matthew Gill (Managing Director & CEO)
Phone: +61-3-5331-4644

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

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