White Metal Resources Corp.
TSX VENTURE : WHM

White Metal Resources Corp.

September 28, 2016 09:46 ET

White Metal Completes Drill Program at the Dobie Gold Zone

THUNDER BAY, ONTARIO--(Marketwired - Sept. 28, 2016) - White Metal Resources Corp. (TSX VENTURE:WHM) ("White Metal" or the "Company) is pleased to announce the completion of the diamond drill program on their Dorothy-Dobie Gold property. The Company successfully completed four diamond drill holes totaling 455 metres. A total of 243 samples were collected from core split in half and been submitted to Accurassay Laboratories in Thunder Bay, Ontario. Assay results will be released once received and compiled. The property is situated in the historic Pickle Lake gold camp, located 7 kilometers northwest of the historic Golden Patricia mine that produced 619,796 ounces of gold (1,216,165 tonnes of ore grading 0.51 oz per tonne) from 1983 to 1997. The Dobie gold zone is considered to contain a historic resource of 50,000 ounces of gold contained in 301,000 tonnes grading 5.5 grams per tonne Au. This resource estimate was calculated by Bond Gold Canada Inc. prior to CIM National Instrument 43-101 guidelines and as such should only be considered from a historical point of view and not relied upon until verified by a qualified person. The diamond drill program was designed to test the Dobie gold zone in and around where Manicouagan Minerals Inc. completed diamond drill holes DOB-09-12, -13, and -14 in 2009. Manicouagan's drill holes were successful in not only extending the known gold mineralization an additional 180 metres along strike to the west but also identifying a potential bulk tonnage gold exploration target. Further, White Metal believes that there is potential for higher grade underground gold resources as the mineralized gold horizon was only tested to a depth of 100 metres.

The Dorothy Dobie and Kasagiminnis Properties are currently under option from Murchison Minerals Ltd. and a second option agreement with Ken Kukkee (see press release dated July 4, 2016).

White Metal also has a good working relationship with local First Nation Groups, Slate Falls and Cat Lake, and recently has signed an MOU with both groups.

White Metal Resources (TSX VENTURE:WHM) is a junior mineral exploration company exploring in Canada and currently has 30,451,073 common shares issued and outstanding.

The technical information contained in this news release has been reviewed and approved for White Metal by Paul E. Nielsen, a Qualified Person as defined by NI 43-101.

On behalf of the Board of Directors of White Metal Resources Corp.

Michael Stares, President and CEO

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 NEWS 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 projection.

Contact Information

  • White Metal Resources Corp.
    Michael Stares
    President and CEO
    807-475-7474