White Metal Provides Exploration Update from Gunners Cove Gold Project
Thunder Bay, October 4, 2018 - White Metal Resources Corp. (TSXV: WHM) ("White Metal" or the "Company") is pleased to provide an exploration update on its channel sampling program at its Gunners Cove Gold Property (the "Property") in Newfoundland. The Company is awaiting assay results from 696 channel rock samples (733 inclusive of standards and blanks) collected from five priority zones (from north to south): (1) East Gunners; (2) Mossberg; (3) Gunners Hidden Pit; (4) Stevens Zone; and (5) Bazooka Island (see news release dated September 27, 2018).
The Company has posted to its website www.whitemetalres.com numerous new location maps which provide an overview and some detail for the channel sampling at the five priority areas. The Company will report the assay results as soon as they have been reviewed and analysed by their technical team.
The Gunners Cove Gold Project is a new unexplored gold system that has now been traced intermittingly for 18km along strike (N-S) and from 1.3 to 3.0km in width (E-W). To date, 15 new areas of gold mineralization have been discovered of which five have been sampled and mapped in detail.
Since the initial gold discovery in September 2017, the Company has had excellent success not only in making new discoveries, but extending the area of gold mineralization substantially at the Gunners Cove Gold Project. Evaluation of the geological controls of the known gold mineralization can be summarized as follows:
- Anomalous to moderate grade gold assays associated with pyrite nodules, discontinuous stringers, fragments, and cubic crystals.
- Gold zones are hosted in a geological distinctive unit of chaotic, multi-lithic breccia with a predominately graphitic and mudstone matrix. This unit is interpreted to be associated with regional thrust faulting and is referred to as a melange.
- Higher pyrite content appears to be associated with well-foliated (sheared) graphitic melange.
- Melange is mappable over horizontal widths of up to 1.3km, however the full extent of the melange is not understood as yet. Melange appears to be located at the base of a sedimentary-ultramafic package and has been mapped as a discontinuous unit over an area of approximately 18km by 3km.
- Anomalous silver, copper and molybdenum are also associated with gold mineralization.
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.
For more information with respect to to the Gunners Cove Gold Property please visit the Company's Web Page at www.whitemetalres.com.
About White Metal Resources Corp (TSXV: WHM):
White Metal Resources Corp. is a junior mineral exploration company exploring for gold in Canada.
On behalf of the Board of Directors of White Metal Resources Corp.
"Jean-Pierre Colin"
Jean-Pierre Colin, President, CEO and Director
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The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projection
For further information contact:
Michael Stares
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836 Fax (807) 475 7200