White Rock Minerals Ltd: Drilling Update - Last Chance Gold Target

Ballarat, Australia - White Rock Minerals Ltd. (ASX:WRM) provides an update on its maiden 2020 exploration program at its 100% owned Last Chance Gold Target, Alaska. The Company is exploring for orogenic and/or Intrusion Related Gold System (IRGS) mineralisation located within the Tintina Gold Province, host to giant gold deposits including Donlin Creek (45 Moz Au2), Fort Knox (13.5 Moz Au3) and Pogo (10 Moz Au4), all Cretaceous aged IRGS deposits.

The Last Chance gold target was identified in early 2020 upon receipt of analyses from regional stream sediment samples collected in 20195. The Company's maiden exploration program commenced mid-June 2020. Systematic soil sampling undertaken at the beginning of the 2020 program indicated the presence of a large mineralising system with considerable gold anomalism distributed over a 6km strike and 1.2km width1. The strongest gold-arsenic response occurs in a central area of approximately 2km strike from the Sidewinder West target to the Pickle target.

Early season geological reconnaissance identified a series of hydrothermal silica breccia bodies and associated narrow quartz veins associated with gold, arsenic and antinomy anomalism that suggests the Last Chance gold target lies within the upper brittle domain of a large orogenic and/or IRGS. Hydrothermal silica breccia bodies with associated gold-arsenic-antimony anomalism may represent upward leakage of hydrothermal fluids immediately above a zone of more favourable gold deposition. Figure 6 illustrates schematic sections showing the possible orogenic/IRGS structural setting for the Last Chance gold target.

The maiden diamond drilling program at the Last Chance target commenced 29th July and was completed 12th September with the onset of snow and freezing temperatures. A total of 1,990 metres was completed in eight drill holes (Table 1*) across four target areas; Pickle, Sidewinder West, Double Down and Sidewinder Blowout. The maiden drill program targeted a few of the broadest and most strongly developed zones of gold and pathfinder geochemical anomalism identified from surface geochemical sampling to date (Figure 1 & 2*).

Initial shallow drilling was designed to provide valuable geological information with which to further interpret the geometry, orientation and relationship of important breccias and veins as well as better understand their full extent underneath talus cover, with talus concealing up to 95% of the core area of gold anomalism. Drilling of deeper holes commenced later in the program shortly before its end. Although not all holes were completed, these deeper holes were designed to explore down plunge along leakage vectors that may be situated above high-grade gold mineralisation sources at depth.

White Rock's Technical Advisor Dr Quinton Hennigh commented:-

"Considering the Last Chance Gold Target started as a stream sediment anomaly earlier this year, our 2020 field season accomplished a lot. Our crews managed to collect sufficient soil sample data to define an enormous gold-arsenic system over a 6km strike and 1.2km width. Geological reconnaissance identified multiple high-level hydrothermal silica breccia bodies distributed throughout the target area in spite of the fact that steep talus slopes conceal up to 95% of the underlying geology. Our first drill holes, generally shallow, focused on areas where we clearly needed more information about the geology, structure, alteration and zonation of the system. We believe we are in the upper brittle regime of a very large orogenic and/or Intrusion Related Gold System.

Drill holes completed in 2020 all encountered variable amounts of quartz veining and/or silica breccia, in places with appreciable arsenopyrite and pyrite. We eagerly await assays from most holes. In the meantime, we will commence integrating geological, geochemical, magnetics and first pass CSAMT data to further interpret the system and plan for our 2021 drill season. We tested only a very small part of this extensive system. There still remains multiple undrilled targets at surface, and we strongly believe that the extensive bodies of silica breccia discovered to date indicate a lot more is happening at depth. This deeper regime will likely be the focus of much of our exploration effort next season."

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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.

Source:
White Rock Minerals Ltd.

Contact:

For further information, contact: Matthew Gill or Shane Turner Phone: +61-3-5331-4644 Email: info@whiterockminerals.com.au www.whiterockminerals.com.au For Media and Broker queries: Peta Baldwin Phone: +61-455-081-008 Cannings Purple Email: pbaldwin@canningspurple.com.au