White Rock Minerals Ltd (WRM.AX) Massive Sulphide Mineralisation Intersected in Drilling at Red Mountain
White Rock Minerals Ltd (ASX:WRM) ("White Rock" or the "Company") is pleased to announce that two of the first three diamond drill holes have intersected massive sulphide mineralisation at its 100% owned high-grade zinc VMS project at Red Mountain in Alaska.
At the Dry Creek deposit the first drill hole (DC18-76) intersected a zone of massive to semi-massive sulphide with coarse sphalerite and galena from 63.9 to 72.7 metres (8.8m) downhole (estimated true width of 7.9m) (see Figure 2 in link below). This hole is some 20 metres from the nearest holes (DC97-33 and DC98-39).
At West Tundra the second drill hole (WT18-28) intersected a zone of massive to semi-massive sulphide with visible sphalerite and galena from 60.6 to 63.1 metres (2.5m) downhole (estimated true width of 2.5m) (see Figure 1 in link below). This hole is some 75 metres from the nearest drill hole (WTF82-05). The first drill hole (WT18-27) drilled down a steep angled fault and did not intersect any significant base metal sulphide mineralisation.
Mineralised intervals have been split, sampled and submitted to ALS laboratories for analysis of gold and base metals. Results are anticipated in late June.
MD & CEO Matt Gill said "The commencement of the Company's first exploration programme at our globally significant(see Note below) high-grade Zinc VMS Project at Red Mountain in Alaska is a significant milestone for us. This programme is the culmination of two years work, analysing the existing data, identifying 30 high priority exploration targets, expanding our strategic footprint ten-fold, producing a maiden high-grade zinc - silver JORC Resource, and then tendering and awarding a number of contracts for the camp, diamond drilling, on-ground reconnaissance crews and supporting services. We look forward to advancing our knowledge of this VMS field, and the news flow that should come from a successful exploration program here."
Note: Refer ASX Announcement dated 26 September 2017 "White Rock Minerals Independent Research Report".
About Red Mountain (as more fully set out in the ASX Announcement dated 15 February 2016)
- The Red Mountain Project is located in central Alaska, 100km south of Fairbanks, in the Bonnifield Mining District. The tenement package comprises 230 mining claims over a total area of 143km2.
- The Red Mountain Project contains polymetallic VMS mineralisation rich in zinc, silver and lead, with potential for significant gold and copper.
- Mineralisation occurs from surface and is open along strike and down-dip.
- White Rock used historical drilling to determine a maiden JORC 2012 Mineral Resource estimate for the Dry Creek and West Tundra Flats deposit (ASX Announcement 26th April 2017). The Inferred Mineral Resource contains an impressive base metal and precious metal content with 678,000t zinc, 286,000t lead, 53.5 million ounces silver and 352,000 ounces gold.
- Good preliminary metallurgical recoveries of >90% zinc, >75% lead, >80% gold, >70% silver and >70% copper.
- Previous drilling highlights (ASX Announcement 15th February 2016) include:
o 4.6m @ 23.5% Zn, 531g/t Ag, 8.5% Pb, 1.5g/t Au & 1.0% Cu from 6.1m
o 5.5m @ 25.9% Zn, 346g/t Ag, 11.7% Pb, 2.5g/t Au & 0.9% Cu from 69.5m
o 7.1m @ 15.1% Zn, 334g/t Ag, 6.8% Pb, 0.9g/t Au & 0.3% Cu from39.1m
West Tundra Flats
o 1.3m @ 21.0% Zn, 796g/t Ag,9.2% Pb, 10.2g/t Au & 0.6% Cu from 58.6m
o 3.0m @ 7.3% Zn, 796g/t Ag, 4.3% Pb, 1.1g/t Au & 0.2% Cu from160.9m
o 1.7m @ 11.4% Zn, 372g/t Ag, 6.0% Pb, 1.7g/t Au & 0.2% Cu from 104.3m
- VMS deposits typically occur in clusters ("VMS camps"). Deposit sizes within camps typically follow a log normal distribution, and deposits within camps typically occur at regular spacing. The known deposits at Dry Creek and West Tundra Flats provide valuable information with which to vector and target additional new deposits within the Red Mountain camp.
- Interpretation of the geologic setting indicates conditions that enhance the prospectivity for gold-rich mineralisation within the VMS system at Red Mountain. Gold mineralisation is usually found at the top of VMS base metal deposits or adjacent in the overlying sediments. Gold bearing host rocks are commonly not enriched in base metals and consequently often missed during early exploration sampling. This provides an exciting opportunity for potential further discoveries at Red Mountain.
- White Rock sees significant discovery potential, given the lack of modern day exploration at Red Mountain. This is further enhanced by the very nature of VMS clustering in camps, and the potentially large areas over which these can occur.
To view tables and figures, please visit:
Matthew Gill (Managing Director & CEO) Phone: +61-3-5331-4644 E-mail: email@example.com Shane Turner (Company Secretary) Phone: +61-3-5331-4644 Website: www.whiterockminerals.com.au
News Provided by ABN Newswire