TORONTO, Sept. 07, 2023 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the "Company") is pleased to announce partial results from 2023 exploration diamond drilling at the Betty Ford target on the Betty property including 3.38 g/t Au over 53.0 m from 7.30 m depth in hole BETFD23D013, which included higher grade subintervals of 7.19 g/t Au over 6.30 m and 8.00 g/t Au over 4.35 m. Results of diamond drilling at the Vertigo target on the JP Ross property include 1.4 g/t Au over 58.4 m in hole JPRVER23D0052 from 40.95 m depth, and JPRVER23D0051 which intersected three zones of high-grade gold mineralization. Betty Ford and Vertigo (Figure 1) are located approximately 65 km southeast and 30 km northeast respectively from the Company’s flagship White Gold Project in west-central Yukon, Canada, which comprises 16 million tonnes averaging 2.23 g/t Au for 1,152,900 ounces of gold in the Indicated Resource category and 19 million tonnes averaging 1.54 g/t Au for 942,400 ounces of gold in the Inferred Resource category ⁽¹⁾.

The Betty property lies along strike and approximately 40 km east-southeast of Newmont Corporation’s (NYSE: NEM, TSX: NGT) Coffee gold deposit with Indicated Resources of 2.14 Moz gold and Inferred Resources of 0.23 Moz gold⁽²⁾. The Betty property is also contiguous to and 15 km northeast of Western Copper and Gold Corporation’s (TSX: WRN, NYSE: WRN) Casino porphyry project with Measured & Indicated Resources of 14.8 Moz gold & 7.6 Blbs copper and Inferred Resources of 6.3 Moz gold and 3.1 Blb copper⁽³⁾. The JP Ross property is road accessible and located in a prolific placer camp with significant recorded placer gold production. These drill programs form part of the Company’s 2023 fully funded exploration program on its extensive and underexplored 350,000 hectare land package in the emerging White Gold District, Yukon, supported by strategic partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC).

“We are pleased to encounter near surface high-grade gold mineralization over such a broad zone at Betty Ford which remains open for expansion. Furthermore, we have also encountered the first occurrence of gold within the deeper sulphide domain of the polylithic breccia unit while testing for possible feeder structures, which represents an important development in our understanding of Betty Ford and the potential to even further extend mineralization. The diamond drilling at Vertigo has improved our structural interpretation of the known mineralization controls at this high-grade gold target. These results continue to demonstrate the expansiveness of gold mineralization in our underexplored district scale exploration portfolio in a tier 1 mining district,” stated David D’Onofrio, Chief Executive Officer.

Maps and images accompanying this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/. Assay results and drill collar details for Betty Ford and Vertigo are summarized below in Tables 1 and 2, and Tables 3 and 4 respectively.

Highlights:

• Betty Ford:
  • Diamond drilling consisted of four holes totalling 1,165 m (Figure 2) to further evaluate the zone of near-surface high gold mineralization encountered in 2021 (BETFD21D003: 3.46 g/t Au over 50 m), and 2022 (BETFD22RC004: 8.94 g/t Au over 18.29 m), and also test for the presence of a mineralized buried porphyry at depth, as well as a possible feeder contact/structure for the gold mineralization.
  • BETFD23D013 (Figure 3) intersected 3.38 g/t Au over 53 m from 7.30 m depth, including 7.19 g/t Au over 6.30 m and 8.00 g/t Au over 4.35 m. Assays for the lower portion of BETFD23D013 from 364 m to 503 m remain outstanding.
  • BETFD23D012 intersected 1.20 g/t Au over 8.3 m from 166.7 m depth, including 5.51 g/t Au over 1.0 m, and is the first occurrence of gold within the sulphide domain of the polylithic breccia unit and also significantly extended the width of the polylithic breccia unit.
  • Based on visual inspection, holes BETFD23D014 and D015 appear to have also intersected significant zones of oxidized mineralized breccia which has been the primary host of gold mineralization at the Betty Ford target. Assay results are pending and will be released as they are received and interpreted.
    
    
• Vertigo:
  
  
  • Diamond drilling at Vertigo was designed to test a revised structural interpretation including identification of multiple prospective vein sets and potential for bulk tonnage gold mineralization.
  • 5 holes totalling 1,022 m (Figure 4) tested the mineralized zone near previous trenching and drilling, as well as adjacent gold-in-soil anomalies located 250-300 m to the east-northeast, southwest and south.
  • Hole JPRVER23D0052 intersected 58.4 m grading 1.4 g/t Au from 40.95 m depth, with narrower high-grade subintervals of 9.10 g/t Au over 2.85 m and 6.68 g/t Au over 4.80 m, with multiple occurrences of visible gold within the zones.
  • Hole JPRVER23D0051, located approximately 50 m west-northwest of JPRVER23D0052, intersected 3 narrow (< 2 m) mineralized zones grading 4.37 g/t Au over 1.30 m, 15.79 g/t Au over 1.60 m, and 4.17 g/t Au over 1.90 m.
  • Newly collected borehole optical televiewer data supports the structural interpretation of multiple mineralized vein sets, with two separate orientations.
  • Additional targets remain to be tested and to date all drilling at Vertigo has been conducted at shallow depths with the longest hole being only 280.5 m.
    
    
• Additional results from the Company’s diamond drilling at the Betty Ford and Cali targets, and the regional exploration program will be announced in due course (see Company News Releases dated August 15, 2023, July 20, 2023, and July 6, 2023).
  
  

Precious Metals Beaver Creek

The Company will be presenting and providing a corporate update at 2023 Precious Metals Summit Beaver Creek. Management will also be participating in the One on One Meeting Program and interested conference attendees are encouraged to request a meeting to learn more about the Company and its 2023 exploration program.

Website: https://www.precioussummit.com/event/2023-precious-metals-summit-beaver-creek/
Date: September 12^th to 15^th, 2023
Location: Beaver Creek, Colorado, USA
Corporate Presentation: Thursday, September 14^th at 4:15pm MT

Betty Ford Target

The Betty property comprises 860 quartz claims which cover an area of 17,127 hectares and hosts several prospective exploration targets including Betty Ford, Mascot (BETMAS22RC005: 1.14 g/t Au over 27.43 m; BETMAS22RC004: 1.24 g/t Au over 3.05 m, 1.48 g/t Au over 9.14 m & 4.13 g/t Au over 7.62 m), Betty White, Betty Grable and Betty Black. The property is transected by the Coffee Creek Fault which exerts important structural controls on Newmont’s Coffee gold deposit 40 km along strike to the west-northwest.

Gold mineralization at the Betty Ford target is hosted in a polylithic breccia unit along an east-west striking splay structure located approximately 1.5 km south of and parallel to the Coffee Creek Fault. The target, which forms an approximately 1 km long east-west trending gold-in-soil anomaly with gold values ranging from trace up to 1,961 ppb Au, was initially RAB drill tested by the Company in 2018 with BETFRDRAB18-002 intersecting near surface gold mineralization averaging 1.08 g/t Au over 50.29 m from 4.57 m depth. During 2021 and 2022, the Company completed 11 diamond drill holes totalling 2,297 m and 2 RC holes totalling 201 m to further test the target along an approximately 250 m strike length. This drilling has continued to intersect a broad zone of near-surface gold mineralization within the polylithic breccia host unit that has returned 1.17 g/t Au over 48.00 m in hole BETFD21D001, 3.46 g/t Au over 50.0 m in BETFD21D003, 1.50 g/t Au over 55.15 m in BETFD22D007, and 8.94 g/t Au over 18.29 m in BETFD22RC004 including 21.73 g/t Au over 6.10 m. Thus far, mineralization has been traced for approximately 175 m along strike and to a vertical depth of 75 m. The zone remains open primarily to the east for a minimum of 100 m and further evaluation of the target is recommended.

The 2023 diamond drilling program at the Betty Ford target comprised 4 holes totaling 1,165 m that was designed to test: 1) the presence of a mineralized buried porphyry at depth beneath the polylithic breccia unit; 2) a possible feeder contact/structure identified from VLF-EM surveying; 3) a strong gold-in-soil anomaly in the area of an eastern gully and interpreted fault structure; and 4) controls on higher grade gold mineralization such as that intersected in hole BETFD22RC004.

Betty Ford - Partial 2023 Diamond Drilling Results

Assay results received to date for the 2023 Betty Ford diamond drilling program are summarized below in Table 1. Assays have been received for all of hole BETFD23D012 and a portion of BETFD23D013 from surface to 364 m.

Hole BETFD23D012 was drilled to test for a potential feeder contact/structure for the near-surface gold mineralization. A VLF-EM survey suggests that in this area the contact is characterized by a resistivity high to the south, and the gold mineralization encountered in existing holes appears to be at the contact zone with a resistivity low to the north. The hole collared in metasediments (3.0-42.0 m), and then passed downwards into a feldspar porphyry dyke from 42-113 m (71 m), and polylithic breccia from 113 m to the end of the hole at 202 m. It appears that the VLF feature is explained by the resistivity contrast between the metasediments and feldspar porphyry (resistivity high) and the polylithic breccia (resistivity low), and that the prospective metasedimentary – polylithic breccia contact in this area has been infilled with a dyke. Of note, the hole intersected a gold mineralized zone grading 1.20 g/t Au over 8.3 m within the breccia from 166.7 – 175.0 m, which is the deepest gold mineralization encountered to date at Betty Ford and is well within the sulphide domain. Additionally, the hole successfully widened the polylithic breccia to the south by approximately 50 m and now measures up to 90 m locally in true width.

BETFD23D013 with a final depth of 503 m, is the deepest hole drilled to date at Betty Ford and was designed primarily to test for the presence of a mineralized buried porphyry intrusion at depth beneath the polylithic breccia unit. The hole collared in oxidized mineralized breccia which passed downwards into a transition zone to 60 m depth. The hole intersected 3.38 g/t Au over 53.0 m from 7.3 m depth, and included two higher grade subintervals including 7.19 g/t Au over 6.3 m and 8.00 g/t Au over 4.35 m further extending the high-grade mineralization zone 10 to 25 m east of gold mineralization previously intersected in hole BETFD21D003 which returned 3.46 g/t Au over 50.0 m. The hole drilled through a thick interval of polylithic breccia down to 289.5 m, then a zone of breccia with intermittent feldspar porphyry dykes (3 – 30 m wide) from 289.5-383.0 m, and finally continuous polylithic breccia to the end of the hole at 503 m.

Assay results for the lower portion of holes BETFD23D013 (364 – 503 m) and holes 014 and D015 are pending and will be released as they are received and interpreted. Details on the Betty Ford target are provided in a news release issued by the Company on July 6, 2023 (available on SEDAR+).

Table 1. Highlights of 2023 Diamond Drilling Gold Assay Results (partial) for the Betty Ford Target.

* All drill hole intercepts reported herein are core lengths. Currently there is insufficient data to estimate true thicknesses.
** Gold assays are uncapped.
***Partial assays received, 364 m to 503 m assays remain pending.

Table 2. Collar details for 2023 Diamond Drill Holes at the Betty Ford Target.

Vertigo Target

The road accessible Vertigo target is located on the JP Ross property approximately 80 km south of Dawson City. Covering 76,385 hectares centred on the famed Henderson Creek placer gold area. The property hosts several prospective targets including Vertigo, Stage Fright (JPRSF19RAB-005: 2.31 g/t Au over 16.76 m), Sabotage (JPRSAB19RAB-011: 3.42 g/t Au over 7.62 m), North Frenzy (JPRNF19RAB-002: 5.45 g/t Au over 4.57 m), Notorious (GT-Probe: 24.4 g/t Au; Rock samples: 18.2 g/t Au & 33.6 g/t Ag) , Life Boat (JPRLB19RAB-001: 5.41 g/t Au over 3.05 m) and others.

Gold mineralization at Vertigo is associated with quartz veining, brecciation and strong quartz-sericite altered structures containing disseminated to locally massive arsenopyrite, galena and pyrite, and locally fine-grained visible gold within a felsic gneiss host unit. Vuggy textures and iron oxides after pyrite, as well as an interpreted early phase of potassic alteration, are common.

Gold mineralization at Vertigo occurs at a principal fault intersection between a district-scale WNW-trending magnetite-destructive fault zone (Vertigo FZ) and a major NE-trending magnetic and topographic (LiDAR) lineament. Gold mineralization occurs within an approximately 2.0 km by 0.8 km mag-destructive sigmoid, suggesting that a left-lateral pull-apart can be the principal controlling array. On a local scale, optical televiewer data and trench mapping confirmed that steeply dipping quartz veins predominantly follow a principal WNW-trend and a subordinate NE-trend. Both vein systems crosscut at high angle to the host-rock sub-horizontal foliation, while the subordinate vein array occurs parallel to open folding of NE-axis. Overall, the geometry, magnetic character and scale of the WNW- and NE-trending faults and quartz veins are encouraging, as they closely resemble the principal structures controlling gold mineralization at, respectively, the Golden Saddle and Ryan’s Surprise deposits.

Initial diamond drilling at Vertigo was carried out by Kinross in 2010 with the completion of 4 holes totalling 521.7 m. During 2018 and 2019, the White Gold carried out RAB (25 holes, 1,448.9 m) and RC drilling (36 holes, 2,551.3m), and in 2019 completed 46 diamond drill holes totalling 9,568.5 m. The 2018 RAB and RC holes drilled to the south (180° azimuth) and north (360° azimuth), whereas 2019 RAB, RC and diamond drill holes drilled to the north-northeast (020° azimuth) to test the interpreted primary west-northwest striking and south dipping mineralized structures. The drilling produced very encouraging results (e.g. 23.44 g/t Au and 144.75 g/t Ag over 24.38 m in hole JPRVERRAB18-014, 9.46 g/t Au and 36.68 g/t Ag over 22.86m in hole JPRVERRC18-006, and 11.64 g/t Au and 32 g/t Ag over 5.34m in hole JPRVER19D0015 – see Table 1, and Company News Releases dated Dec. 06, 2018 and Aug. 08, 2019) with significant associated silver values.

More recently the Company has reviewed and interpreted available borehole optical televiewer and trench structural data which indicates that there are 3 mineralized vein sets at Vertigo: 1) the primary WNW striking vein set which has been the focus of previous drilling; 2) a north-northeast (022°) striking secondary vein set which dips steeply to both the west and east; and 3) a set of narrow (up to 10-15 cm) sheeted quartz veins that strike east-northeast (070°) and dip moderately at 55° north. These latter quartz veins were exposed during mechanical trenching during the 2019 field season, and vein samples returned encouraging gold assays in the range of 1.5 g/t Au to 17.3 g/t Au, however 2019 diamond drilling did not test this newly identified vein set due to the orientation of drilling.

The 2023 diamond drilling program at the Vertigo target comprised 5 holes totalling 1,022 m which tested the mineralized zone near previous trenching and drilling, as well as adjacent gold-in-soil anomalies located 250-300 m to the east-northeast, southwest and south. All holes were drilled to the south-southeast (152°-155°) at dips of -50° to -52°, and holes lengths ranged from 138 to 233 m.

Vertigo - 2023 Diamond Drilling Results

Assay results for the 2023 Vertigo diamond drilling program are summarized below in Table 3. Hole JPRVER23D052 produced the most encouraging results intersecting 58.4 m grading 1.4 g/t Au from 40.95 m downhole, with narrower high-grade subintervals of 9.10 g/t Au over 2.85 m and 6.68 g/t Au over 4.80 m. This hole confirms that Vertigo locally contains relatively broad zones of bulk tonnage gold mineralization. Hole JPRVER23D051 was collared approximately 50 m west-northwest of JPRVER23D0052 and intersected 3 discrete gold mineralized zones grading 4.37 g/t Au over 1.30 m, 15.79 g/t Au over 1.60 m, and 4.17 g/t Au over 1.90 m. Intervening intervals between mineralization did not return any significant gold values, suggesting a variation in vein density and structure between the two holes.

Hole JPRVER23D053 was drilled approximately 250 m east-northeast of hole JPRVER23D052 to test a gold-in-soil anomaly and intersected a single narrow zone grading 2.77 g/t Au over 1.90 m from 64.45 m depth. Holes JPRVER23D054 and JPRVER23D055, drilled to the south and west-southwest to test additional gold-in-soil anomalies did not encounter significant mineralization.

The 2023 diamond drilling successfully identified two primary fault and vein arrays that strike WNW and NE. The higher concentration of gold in hole JPRVER23D052 is closely associated with an increase in vein and breccia structures in the hanging wall of a major fault zone which appears to strike WNW. The highest gold grades (5.5 – 15.6 g/t Au) are associated with multiple phases of quartz-pyrite and quartz-arsenopyrite which is hosted in brittle-ductile vein sets and crackle and hydrothermal breccias. Additional review of the 2019 drill core and other data (geochemical & geophysical) is expected to aid in refining the structural interpretation for future drill targeting.

Additional surface targets on the project remain to be drill-tested, and Vertigo has seen only relatively shallow drilling, so opportunities exist for the discovery of additional high-grade gold zones.

Table 3. Highlights of 2023 Diamond Drilling Gold Assay results for the Vertigo Target.

* All drill hole intercepts reported herein are core lengths. Currently there is insufficient data to estimate true thicknesses.
** Gold assays are uncapped.

Table 4. Collar details for 2023 Diamond Drill Holes at the Vertigo Target.

QA/QC

Analytical work for the 2023 diamond drilling program was performed by Bureau Veritas, an internationally recognized analytical services provider, at its North Vancouver, British Columbia laboratory. Sample preparation was carried out at its Whitehorse, Yukon facility. All diamond drill core samples were prepared using the PRP70-250 package, where samples were weighed, dried, and crushed to greater than 70% passing a 2mm sieve, then pulverized to greater than 85% passing 75 microns). Core were then analyzed in accordance with BV’s FA430 and MA250 packages, for both gold analysis by fire assay (30g fire assay with AAS finish) and ultra-trace multi-element ICP analysis (0.25 g, 4 acid digestion and ICP-MS analysis).

The reported diamond drilling sampling program work was completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of standard, blank, and duplicate samples into the sample stream. BV also runs a comprehensive QA/QC program of standards, duplicates, and blanks within each sample stream.

About White Gold Corp.
The Company owns a portfolio of 17,584 quartz claims across 30 properties covering approximately 350,000 hectares representing over 40% of the Yukon’s emerging White Gold District. The Company’s flagship White Gold project hosts four near-surface gold deposits which collectively contain an estimated 1,152,900 ounces of gold in Indicated Resources and 942,400 ounces of gold in Inferred Resources⁽¹⁾. Regional exploration work has also produced several other new discoveries and prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Indicated Resources of 2.14 Moz at 1.23 g/t Au, and Inferred Resources of 0.23 Moz at 1.01 g/t Au⁽²⁾, and Western Copper and Gold Corporation’s Casino project which has Measured and Indicated Resources of 7.6 Blb Cu and 14.5 Moz Au and Inferred Resources of 3.3 Blb Cu and 6.6 Moz Au⁽³⁾. For more information visit www.whitegoldcorp.ca.

(1) See White Gold Corp. technical report titled “2023 Technical Report for the White Gold Project, Dawson Range, Yukon, Canada ”, Effective Date April 15, 2023, Report Date May 30, 2023, NI 43-101 Compliant Technical Report prepared by Dr. Gilles Arseneau, P.Geo., available on SEDAR+.
(2) See Newmont Corporation 10-K: Annual report for the year ending December 31, 2022, in the Measured, Indicated, and Inferred Resources section, dated February 23, 2023, available on EDGAR. Reserves and resources disclosed in this Form 10-K have been prepared in accordance with the Regulation S-K 1300, and do not indicate NI43-101 compliance.
(3) See Western Copper and Gold Corporation technical report titled “Casino project, Form 43-101F1 Technical Report Feasibility Study, Yukon Canada”, Effective Date June 13, 2022, Issue Date August 8, 2022, NI 43-101 Compliant Technical Report prepared by Daniel Roth, PE, P.Eng., Mike Hester, F Aus IMM, John M. Marek, P.E., Laurie M. Tahija, MMSA-QP, Carl Schulze, P.Geo., Daniel Friedman, P.Eng., Scott Weston, P.Geo., available on SEDAR+.

Qualified Person
Terry Brace, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure of Mineral Projects and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: The expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; the receipt of all applicable regulatory approvals for the Offering; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; ongoing uncertainties relating to the COVID-19 pandemic; and those factors described under the heading “Risks Factors” in the Company’s annual information form dated July 29, 2020 available on SEDAR+. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

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

For Further Information, Please Contact:

Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca

Request Meeting: https://calendly.com/meet-with-wgo/15min 

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