White Rock Minerals Ltd: Copper-Rich Massive Sulphides Identified at Keevy VMS Trend

Ballarat, Australia - White Rock Minerals (ASX:WRM) (OTCMKTS:WRMCF) is pleased to provide shareholders with an update of its ongoing activities at its 100% owned Red Mountain Project, located in central Alaska. The Company is exploring for Intrusion Related Gold System (IRGS) mineralisation and high-grade silver-zinc-gold-lead-copper volcanogenic massive sulphide (VMS) deposits at Red Mountain. Recent reconnaissance exploration has identified chalcopyrite (copper)-rich massive sulphide float (Figure 1) at the Kiwi prospect on the Company's recently identified Keevy VMS Trend. This massive sulphide float is proximal to an anomalous base metal soil trend. Electrical ground geophysics (CSAMT) is currently underway at the Kiwi Prospect prior to the Company commencing drill test planning.

At the silver-rich zinc - lead - gold VMS Dry Creek deposit, drilling continues to test the depth potential on 200 metre spaced step-outs. The most recent drill hole (DC21-102) intersected four broad zones of sulphide mineralisation dominated by pyrite with lesser sphalerite, galena and chalcopyrite indicating that the mineralised system does extend to depth in this position. Drill core from these four zones is being prepared to submit for assay. White Rock's Technical Advisor Dr Quinton Hennigh commented: "White Rock's exploration field crews continue to find evidence of high-grade massive sulphide mineralisation at surface in new areas of their very large district-scale tenement block (836km2) not yet drill tested. It is exciting to continue to drill test new targets, any one of which could be a game-changing discovery. Drilling continues at the Dry Creek deposit with the aim of encountering thick, high-grade massive sulphide that we know exists in this deposit. It is very encouraging that recent drilling demonstrates the mineralised horizon persists at depth. VMS deposits are typically lenticular in that they are known to pinch and swell in size. We hope that continued drilling on aggressive 200 metre step outs will find significant sulphide thicknesses in areas down-dip and along strike".

Red Mountain Area - New VMS Targets

Field crews have identified chalcopyrite (copper)-rich massive sulphide float (Figure 1*) at the Kiwi prospect on the Keevy VMS Trend (Figure 2*). This newly identified VMS trend was the result of previous successful reconnaissance work by the White Rock team, following up targets identified pre-season that led to the subsequent pegging of this ground7. This massive chalcopyrite float is proximal to an anomalous base metal soil trend, within an altered package of quartz-sericite-pyrite schists that are footwall to a conductive package of carbonaceous schists. Surface electrical geophysics is currently underway to assist in defining targets for drill testing this field season.

The first drill hole (JF21-01) at the Jack Frost prospect on the Keevy VMS Trend (Figure 2) has been completed. Drilling targeted 75 metres down dip of massive sulphide float that was believed to be near its source and coincident with a trend of exhalite-type altered rock float and base metal soil anomalism7. JF21-01 intersected a weak zone of pyrite-sphalerite-galena associated with faulting. No massive sulphide mineralisation was intersected. Surface electrical geophysics and downhole EM data has been acquired, which is currently being processed. White Rock will review and interpret all data before planning any additional drilling.

At the Easy Ivan prospect (Figure 3*) the first drill hole is ready to commence. At present, the second drill rig is idle since the contractor is unable to provide an experienced drill crew to operate the rig. As such, a third contractor has been identified, with their drill rig likely to mobilise to site late-August to commence drilling the highest priority new VMS targets at Red Mountain during the remainder of the field season that could extend into late-September.

Dry Creek VMS Deposit - Extension Drilling

White Rock is testing for depth extensions to the Dry Creek VMS deposit on 200m step-outs along its strike extent (Figure 4*).

The third drill hole (DC21-102) intersected a series of broad zones of sulphide mineralisation dominated by pyrite with lesser sphalerite, galena and chalcopyrite. There are four zones interpreted to correlate with the Upper Fosters, Fosters, Copper Zone and Discovery lenses of the main Dry Creek VMS deposit (Figure 5*). No significant massive sulphide mineralisation was intersected.

Overall, the more intense sulphide mineralisation is banded to laminated with up to 30% pyrite and <5% sphalerite (zinc), <2% galena (lead) and <2% chalcopyrite (copper). The main Fosters horizon shows a few 10-30cm zones of semi-massive sulphide. DC21-102 is interpreted to have intersected each of the horizons associated with massive sulphide, in a position distal to the main massive sulphide accumulation up dip. The continuity of the horizon does not preclude additional massive sulphide accumulations further down-dip and along strike as can be typical of VMS deposits.

Assay results for DC21-97, the first Dry Creek hole in this season's campaign, are still awaited with laboratories experiencing unprecedented delays. At present, the samples for DC21-97 have been at a Fairbanks laboratory preparation facility for almost two months, without yet having sample preparation undertaken prior to being dispatched for analysis in Reno and Vancouver. White Rock is now utilising a second laboratory in an attempt to speed up the process on receiving timely results, with projected turnaround times of 4-6 weeks. Samples from the DC21-102 drill hole will be submitted this week.

Currently the drill rig has commenced drilling DC21-103, another 500 metre long hole, targeting a 200 metre down-dip extension of the Fosters and Discovery lenses in the centre of the deposit.

Last Chance Gold Target - Drill Testing

As previously reported (refer ASX Announcement from 27 July 2021) the first drill hole at Last Chance testing the Breccia Blowout "BB" target was abandoned before reaching the footwall position where the silica hydrothermal breccia target is interpreted. Subsequently, the contracted third drill rig has not been able to be supported with an experienced drill crew for the remainder of the season. As a consequence, the third drill rig has now been demobilised. No further drilling is planned at either the Last Chance Gold Target or any new Last Chance VMS targets (Figure 6*) for the remainder of the 2021 season.

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About White Rock Minerals Ltd:

White Rock Minerals Ltd. (ASX:WRM) (OTCMKTS:WRMCF) 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 @ 609g/t AgEq / 13% ZnEq. 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.

Source:
White Rock Minerals Ltd.

Contact:

Matthew Gill or Shane Turner Phone: +61-3-5331-4644 Email: info@whiterockminerals.com.au www.whiterockminerals.com.au