White Gold Corp.
TSX VENTURE : WGO

April 24, 2017 08:30 ET

White Gold Corp. Reports Expanded Soil Anomaly on Dime Project and Samples up to 919 ppb Gold

TORONTO, ONTARIO--(Marketwired - April 24, 2017) -

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White Gold Corp. (TSX VENTURE:WGO) (the "Company") is pleased to provide results from soil sampling on the East Zone target of the Dime project, located within the Money claim area. The Dime project is one of four claim blocks in the Money claim area, located 70km to the south-west of Dawson City, YT. The claims border numerous historic mineral occurrences and placer gold bearing creeks. The Company has also staked new claims over 6 of the Company's target areas.

Highlights

  • A total of 694 soil samples collected on the East Zone were sent to the laboratory for analysis.
  • Results for the samples ranged from trace up to 919 ppb Au.
  • Expanded the footprint of the gold and arsenic in soil anomaly approximately 500m to the north and 300m to the south, increasing the anomaly to a 2.2km x 1km area.
  • Defined the Gemini and Polaris target areas that will be high priority targets for follow-up work, including RAB drilling in 2017.
  • Staked 606 new claims over 6 of the Company's target areas.

David D'Onofrio, Chief Executive Officer of the Company, states: "We are excited by the grade and expansion of the Dime gold in soil anomalies based on these most recent soil samples. Furthermore, the recent staking has added additional prospective area to our large portfolio of properties. White Gold Corp. is looking forward to commencing our 2017 exploration program in the coming weeks."

A total of 694 soil samples from the East Zone target on the Dime property were submitted for analysis. Results of the samples ranged from trace to 919 ppb Au and are typically associated with strongly elevated arsenic (9.3 to 1,016 ppm As). The unglaciated terrain in the region results in soil that is undisturbed, therefore samples are indicative of the rock directly below. The samples were collected by Ground Truth Exploration Inc. in 2015, but previously had only been analyzed via handheld XRF for pathfinder elements; primarily arsenic. The samples were collected as infill samples (50m spaced lines x 25m spaced samples) on the northern and southern portions of the East Zone and the initial XRF results indicated the potential to expand and refine the resolution of the existing anomaly. The recent analytical results confirm the XRF analysis and expanded the footprint of the zone an additional 500m north and 300m south.

The East Zone now consists of an approximately 2.2km x 1km zone of gold in soils >12 ppb Au with numerous sub-targets of >60 ppb Au; the most significant consisting of the Gemini and Polaris targets. The Gemini target consists of two approximately 325m x 200m, north-northeast trending, gold in soil anomalies with values up to 919 ppb Au that are associated with strongly anomalous arsenic (>100 ppm As). Mineralization in the area is associated with strongly sericite altered meta-sediments and fine grained meta-intrusive rocks with zones of quartz veining and brecciation that appear to be associated with a series of N-NE trending, moderately west dipping, faults. The Gemini anomalies are separated by an approximately 60m wide, north trending, quartz porphyry dike and the current interpretation is that the anomalies likely originated as a coherent zone of mineralization that were later separated by late intrusive and/or structural activity. *Diamond drilling conducted on the East Zone in 2010-11 (2,137m over 12 holes) by previous operators was conducted to the southwest of the soil anomaly and did not test the Gemini target area.

The Polaris target occurs approximately 600m northwest of the Gemini and consists of a newly discovered 175m x 75m north trending zone of anomalous gold in soils (up to 894.5 ppb Au) that is open to the north. The target is coincident with strongly elevated lead (up to 709.8 ppm Pb) and only minor arsenic indicating it is associated with a different structural and/or lithologic control to mineralization than the Gemini target.

Exploration on the East Zone in 2017 will consist of expansion of infill grid soil sampling, DC IP-Resistivity surveys, geologic mapping/prospecting and an estimated 3,000m of RAB drilling over the Gemini and Polaris targets. Additionally, numerous other targets are known on the property that require follow-up investigation and may also be drill tested if warranted.

*Historic exploration results for the Dime Property are summarized in the "43-101 Technical Report on the Dime Project" dated February 9, 2012.

Claim Staking

An additional 606 new claims have been staked over 6 of the Company's target areas. The staking includes expansion of existing claim blocks in three areas (IND, Rice, & Pilot) and staking of three new targets (Bell, Carlisle, & BGC) based on interpretation of regional geochemical and geophysical datasets.

Further details regarding the results of Company's upcoming 2017 exploration program will be forthcoming as work is conducted.

The Company encourages individuals interested in the Company to visit its website (www.whitegoldcorp.ca) to further understand the size and scope of the Company's projects in the White Gold District.

The analytical work reported on herein was performed by Bureau Veritas Commodities Canada Ltd., an internationally recognized analytical services provider, at its Vancouver, British Columbia laboratory. Sample preparation was carried out at its Whitehorse, Yukon facility. All soil samples were prepared using procedure SS80 (dry at 60 C and sieve 100g at -80 mesh) and analyzed by method AQ201 (aqua regia digestion and ICP-MS analysis).

Jodie Gibson, PGeo, of GroundTruth Exploration Inc. has acted as the qualified person under National Instrument 43-101, and has reviewed and approved the content of this news release. GroundTruth Exploration Inc. is owned by the spouse of a director of the Company.

Ground Truth Exploration Inc., Dawson City, YT, designed and managed all work for the Company. The reported work was completed using industry standard procedures, including a quality assurance/quality control (QA/QC) program consisting of the insertion of certified standards, blanks, and field duplicates into the sample stream. The qualified person detected no significant QA/QC issues during review of the data.

About White Gold Corp.

White Gold Corp. owns a portfolio of 15,258 quartz claims across 25 properties covering approximately 305,440 hectares representing approximately 30% of the Yukon's White Gold District. Preliminary exploration work has produced several highly prospective targets. The claim packages are bordered by sizable gold discoveries owned by majors including Kinross, Goldcorp and Western Copper & Gold. The Company has outlined an aggressive exploration plan to further explore its properties. For more information visit www.whitegoldcorp.ca.

This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the soil sampling results, future results of operations, performance and achievements of the Company, future exploration activities and programs, including results thereof and advancement of the Company's properties. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by the Company in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include that fact that soil sampling results are preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit, mineral exploration involves a high degree of risk and is highly speculative in nature, few properties that are explored are ultimately developed into producing mines, geological factors, the actual results of current and future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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