White Gold Corp. announces a technical report outlining a substantial increase in mineral resources at its flagship White Gold Project in Yukon, Canada. The report, prepared by Dr. Gilles Arseneau, P.Geo., reveals a total of 1,203,000 ounces of gold in the indicated category and 1,116,600 ounces in the inferred category.
White Gold Corp. Files Technical Report for Significant Increase of Mineral Resources to 1,203,000 oz Gold Indicated and 1,116,600 oz Gold Inferred on its Flagship White Gold Project, Yukon , Canada ") is pleased to announce it has filed a technical report in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects to update the Mineral Resource Estimate .
24.472 million tonnes of Inferred Resources averaging 1.42 grams per tonne gold for 1.117 million ounces of gold, representing 48% of total resources.97.5% of the resources are near surface and within an open-pit. Indicated Resources of 1.201 million ounces of gold averaging 2.12 grams per tonne gold and open-pit Inferred Resources of 1.061 million ounces of gold averaging 1.38 grams per tonne gold .
The Company is also currently evaluating additional opportunities to further increase the size of the resources by optimizing the block model and wireframes of the Golden Saddle and Arc deposits to add additional tonnage.Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum , CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council. Mineralization on portions of both the Golden Saddle and Arc deposits is known to extend beyond the limits of the current resource estimate, however, the mineralization in these areas did not meet the criteria to be classified as Mineral Resources. Based on drilling at Golden Saddle and current geologic models, there is an estimated 10 – 12 million additional tonnes grading between 1 – 2 g/t Au of material classified as a Target for Further Exploration .
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...
Mining Resources Gold Yukon Canada
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