Airborne Geophysics Completed at Last Chance Gold Target
Ballarat, Aug 10, 2020 AEST (ABN Newswire) – White Rock Minerals (
ASX:WRM) is pleased to announce that an airborne magnetic and radiometric survey has been completed at the large Last Chance gold target. The Last Chance gold target is part of White Rock’s 100% owned Red Mountain Project in central Alaska.
The magnetic and radiometric survey was conducted by Precision GeoSurveys Inc., a leading North American geophysics contractor, utilising a helicopter with a nose stinger configuration to maximise data precision in the mountainous terrain (Figure 3). A detailed interpretation of the magnetic and radiometric survey (Figure 1*) will be undertaken once final processing of data and integration with last year’s adjacent SkyTEM magnetic survey is completed.
A WorldView-3 multispectral satellite survey across the Last Chance target area has also been commissioned with data capture scheduled for late-August. Spectral interpretation experts from geoscience consultancy Global Ore Discovery will supervise acquisition, undertake processing and complete an interpretation of the data. Processed WorldView-3 satellite data will include high resolution base imagery and alteration mineral abundance and distribution map products that could highlight alteration associated with this large gold system and vectoring towards gold mineralisation targets.
Together the magnetic, radiometric, multispectral and high resolution imagery will provide the highest quality datasets with which to interpret geology, rock alteration and structure, that once integrated with mapping and detailed surface geochemistry will provide White Rock with a quality interpretation of the overall gold system, its regional setting and a range of follow-up targets following this field season’s drilling campaign.
The drill campaign is now well underway with the first drill hole completed and a second drill hole underway, both testing the Pickle prospect silica breccia zone mapped at surface (Figure 2). The third drill hole will test the Sidewinder West target where there are soil samples up to 7.1g/t at surface. Due to the busy North American field season laboratory assay results are expected to take up to 6 weeks from sample submission.
In addition to the focus on the Last Chance gold system, reconnaissance of other stream sediment anomalies has located volcanogenic massive sulphide (“VMS”) horizons at Peaches, Grapple, Horseshoe and Keevy Peak (Figure 1*). These VMS occurrences contain sphalerite, galena and chalcopyrite (zinc, lead and copper sulphides respectively) together with pyrrhotite (an iron sulphide that is magnetic). The preliminary TMI image shows each occurrence is coincident with magnetic linear trends, each of which could be caused by pyrrhotite. Modelling of the magnetic data will be completed to develop targets for future assessment and drill testing as warranted.
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About White Rock Minerals Ltd
White Rock Minerals Ltd (ASX:WRM) is a diversified explorer and near-stage producer, headquartered in Ballarat, Victoria. The Company’s flagship exploration project is Red Mountain in central Alaska. At Red Mountain, there are already two high grade zinc – silver – gold – lead VMS deposits, with an Inferred Mineral Resource of 9.1 million tonnes @ 12.9% ZnEq for 1.1 million tonnes of contained zinc equivalent. The Company is also exploring its recently discovered large intrusion related gold anomaly at Last Chance, also located in the Tintina gold belt of Alaska, home to multi-million gold ounce deposits like Pogo, Fort Knox and the Donlin Project. The Company also has the Mt Carrington project, located near Drake, in Northern NSW, which is a near-production precious metals asset with a resource of 341,000 ounces of gold and 23.2 million ounces of silver on an approved mining lease, and with a Gold First PFS and JORC Reserve. White Rock Minerals is listed on the Australian Stock Exchange.
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