White Metal Resources Corp.
TSX VENTURE : WHM

White Metal Resources Corp.

October 21, 2016 08:30 ET

White Metal Receives Drill Results From Dobie Zone

THUNDER BAY, ONTARIO--(Marketwired - Oct. 21, 2016) - White Metal Resources Corp. (TSX VENTURE:WHM) ("White Metal" or the "Company) would like to announce the results of the recently completed diamond drill program on the Dobie Property previously announced on September 13, 2016. While reviewing the core from the previous drilling campaign conducted in 2009 by Manicouagan Minerals, it was noted that very fine arsenopyrite existed in core not sampled from drill hole DOB-09-14. This core was split and sent in for gold assay as part of this year's efforts and resulted in extending the intersection to 1.32gpt Au over 42.0m including 1.52gpt Au over 33.5m compared to the previously announced 1.53gpt Au / 27.9m (see Table1 and plan map below). Hole DOB-16-17 drilled 20m to the west of DOB-12-14 intersected 1.51gpt Au over 13.7m within a larger mineralized envelope of 0.74gpt Au over 39.1m. Diamond drill hole DOB-16-18, a 50m step-out to the northwest from DOB-09-12, returned 2.08 gpt Au over 4.1m. Hole DOB-16-20 was drilled 50m to the east of DOB-12-14 and assayed 1.24 gpt Au over 20.6m including 2.05 gpt Au over 5.5m. Hole DOB-16-19, drilled on section and above DOB-16-18, intersected neither the Dobie nor the altered volcanic zone ("AV") but did intersect the underlying iron formation suggesting it may be offset by faulting.

This diamond drill program was successful in extending the known Dobie Zone by 50m along strike to the northwest and also testing a 100m void between drill holes DOB-09-10 and DOB-12-14. To date the Dobie Zone has been drill tested a total of 230m and continues to remain open along strike to the northwest and at depth where the mineralized horizon appears to be getting thicker.

Table 1:

Hole_ID From To meters Ave (Au g/t) Zone
DOB-09-14 58.5 100.5 42.0 1.32 Dobie
includes 67.0 100.5 33.5 1.52 Dobie
DOB-16-17 25.0 33.5 8.5 0.48 AV
42.5 83.1 40.6 0.72 Dobie
includes 69.4 83.1 13.7 1.51 Dobie
DOB-16-18 20.4 43.7 23.3 0.23 AV
79.1 83.2 4.1 2.08 Dobie
DOB-16-19 41.8 43.5 1.7 0.96 IF
DOB-16-20 69.7 79.2 9.5 0.35 AV
88 108.6 20.6 1.24 Dobie
includes 88 93.5 5.5 2.05 Dobie

Note: AV represents a mineralized altered volcanic zone with highly anomalous gold and IF is a gold-bearing iron formation

To view the image associated with this relelase, entitled 'Drill Plan Dobie Zone' please view the following link:

http://media3.marketwire.com/docs/1073452%20Images.pdf

The property is situated in the historic Pickle Lake gold camp, located 7km 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 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 has recently signed a 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