Thunder Bay, Ontario, 1 October 2020: White Metal Resources Corp. (TSXV:WHM) (“White Metal” or the “Company”) is pleased to announce that the maiden diamond drilling program is underway at its Far Lake Copper-Silver Project (the “Project” or the “Property”), located in northwest Ontario and under option to Benton Resources Inc. (TSXV:BEX) (see Company news release dated 20 May 2020).
A diamond drilling rig has been mobilized to the Project to begin the first phase drilling program, comprising a minimum of 2,000 metres and designed to test priority targets identified from the Company’s past exploration programs. Targets include the Far Lake #1 structure where a 0.7 m channel sample across massive sulphide assayed 22.0% Cu, 30.2 g/t Ag, and 0.25 g/t Au and other channel samples along the 200 m strike length returned up to 3.54% Cu over 3.0 m, including 4.96% Cu over 1.0 metre. In addition, several other large, variably silicified and brecciated structures containing chalcopyrite mineralization and associated with coincident soil and/or rock geochemical anomalies within a 2.5 square km area, will be tested.
Michael Stares, President and CEO of White Metal, commented, “I am pleased that Benton Resources has begun its drilling program on the Far Lake Copper-Silver Property and look forward to seeing the results. This is the first time this Property has been drill-tested and based on surface results to date we are certainly optimistic that we will generate some positive results. The Company continues to deliver on its project generation model whereby we source and advance high potential properties in order to attract quality partners like Benton Resources who can then move the projects forward while the Company maintains its 30% interest in the project.”
Mineralization (chalcopyrite ± bornite, covellite, magnetite) and alteration (silicification, carbonate, sericite) identified to date at the Far Lake property displays characteristics suggestive of multiple mineralizing events and resemble certain aspects of porphyry and IOCG style alteration and mineralization. Other evidence for these deposit models include elevated rare earth and uranium geochemistry over 500 m within the centre of the main magnetic high (a granitic intrusive) and a moderate zinc-in-soil geochemical anomaly surrounding the periphery of the soil survey area. Benton Resources Inc. (“Benton”) is encouraged by the number of targets on the Property, including those generated from a systematic geochemical surveying, and looks forward to continuing its exploration efforts and evaluating the Project’s potential for the discovery of a large copper-silver system.
The Company also announces the grant of 2,440,000 incentive stock options to various directors, officers, and consultants of the Company. The Stock Options will be exercisable at $0.10 for 5 years.
Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Exploration and a Director of White Metal, who is a Qualified Person under the definitions established by the National Instrument 43-101.
About White Metal Resources Corp (TSX-V: WHM):
White Metal Resources Corp is a junior exploration company exploring in Canada.
For more information in regards to White Metal Resources Corp. you can visit the company’s Web Page at www.whitemetalres.com.
On behalf of the Board of Directors of White Metal Resources Corp.
President & CEO, Director
For further information contact:
President & CEO, Director
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836
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 release.