Join our daily newsletter At The Bell to receive exclusive market insights
- White Rock Minerals (WRM) has received assay results from holes drilled at the company’s Last Chance Gold Target in Alaska
- During its maiden drill program, the company diamond-drilled eight holes, all of which intersected gold mineralisation
- One hole intersected 24.8 grams per tonne of gold over 1.2 metres, indicating the site’s potential for high-grade gold generation
- The company is considering an aggressive follow-up drill campaign to find the source of high-grade gold in 2021
- White Rock Minerals closed 12.04 per cent in the red for 47.5 cents per share
White Rock Minerals (WRM) has received assay results from holes drilled at the company’s Last Chance Gold Target in Alaska.
The company completed its maiden drilling program at the project in mid-September, after diamond-drilling eight holes. The assay results of these holes have indicated that all eight holes intersected multiple intervals of low-grade but significant hold mineralisation.
The highest grade was intersected by hole LC20-07, and consisted of 24.8 grams per tonne of gold over 1.2 metres. This assay result indicated that the hydrothermal system at Last Chance is capable of generating high-grade gold mineralisation.
White Rock Minerals’ Technical Advisor, Dr Quinton Hennigh, commented on the significance of the company’s encouraging drilling results, and its plans for the new year.
“Our first eight holes tested very shallow parts of the system and all encountered intervals of anomalous gold mineralisation, a very positive outcome,” he said.
“Although we did not get to drill deeper holes this season, we now understand the structural framework of this very large gold system,” he added.
Dr Hennigh went on to say that the company is eager to come back in 2021 to test areas that are suspected to be the source of the high-grade gold.
As such, the company is considering an aggressive follow-up drill campaign at the site next year. This new campaign will seek to identify and explore both shallow and deep targets at Last Chance, which have yet to be tested.
White Rock Minerals closed 12.04 per cent in the red for 47.5 cents per share.
