White Rock Minerals Ltd: Assays Confirm High Grade VMS at Keevy Trend & New EM Target

Ballarat, Australia - White Rock Minerals Ltd. (ASX:WRM) (OTCMKTS:WRMCF) is pleased to provide shareholders with a significant update of results from prospecting activities conducted during the 2021 field season at the Company's 100% owned Red Mountain VMS and IRGS project. Assay results for rock chip float samples from the recently discovered Kiwi and Jack Frost prospects, located within the Company's newly identified Keevy VMS trend (Figure 3*), have confirmed high-grade copper (up to 16%), zinc (up to 14%) and lead (up to 20%) mineralisation with significant silver (up to 316g/t) and gold (up to 2.8g/t) mineralisation associated with the massive sulphides.

In addition, processing and modelling of a fixed loop electromagnetics geophysical survey acquired at the Kiwi prospect has identified a strong and discrete 400 metre long conductor, just 150 metres below the surface (Figure 2), proximal to the rock chip float samples, that is now a high priority target for immediate drill testing once field operations recommence in 2022.

Crescat Capital's Geologic and Technical Advisor Dr. Quinton Hennigh commented:

"The White Rock exploration team continue to make what could be significant discoveries along the previously unknown 30-km long Keevy Trend. The exceptionally high-grade nature of recent surface samples indicates this corridor could host multiple VMS deposits of similar high-grade nature to White Rock's nearby Dry Creek and West Tundra Flats deposits. The presence of such high-grade massive sulphide mineralisation at surface, proximal to a significantly strong EM conductor signal, shows the strong potential for discovery at Kiwi. Successful application of effective geophysics at Kiwi illustrates a path to developing multiple new targets for drill testing along the exciting new Keevy Trend."

Keevy VMS Trend

The Keevy VMS Trend was first identified in 2021 and White Rock moved quickly to expand its tenement land holding to capture this prospective VMS trend. The Company then commenced exploring this newly identified VMS trend during the 2021 field season after initial prospecting of stream sediment geochemical anomalies and SkyTEM geophysical conductors continued to find surface mineralisation at multiple prospect locations along a 30km long trend (Figure 3*).

The discovery of massive sulphide float rich in chalcopyrite (copper sulphide), sphalerite (zinc sulphide) and galena (lead sulphide) at the Kiwi and Jack Frost prospects indicates their potential to host significant mineralisation. Recently received assay results confirm the high-grade mineralisation. At the Kiwi prospect, chalcopyrite-dominant massive sulphide float contains over 16% copper and over 10% zinc (Figure 5*). At the Jack Frost prospect, galena and sphalerite dominant massive sulphide float contains up to 20% lead and 14% zinc (Figure 9*). Significant rock chip assay results are summarised in Table 1*.

With the discovery of massive sulphide float at the Kiwi and Jack Frost prospects midway through the 2021 field season, White Rock fast tracked exploration by completing initial scout diamond drilling at the same time as surface geophysics consisting of controlled-source audio-frequency magnetotellurics (CSAMT) and fixed loop electromagnetics (FLEM).

Kiwi VMS Prospect.

The Kiwi prospect is defined by a 2,000 metre long lead-zinc soil anomaly trending east-west (Figure 4) and an offset trend of multiple chalcopyrite-rich massive sulphide boulders to the south, within an altered package of quartz-sericite-pyrite schists that are footwall to a conductive package of carbonaceous schists. Two drill holes were completed to test the bedrock source of the anomalism.

KW21-01 tested the lead-zinc soil anomaly and intersected low-level galena (lead sulphide) and sphalerite (zinc-sulphide) mineralisation in the down-dip position from surface soil anomalism. Assay results are awaited.

KW21-02 tested a deeper position in the stratigraphy, searching for the source of the chalcopyrite-rich massive sulphide float. While no massive sulphide mineralisation was intersected, portable XRF (pXRF) analysis of drill core shows two zones of elevated copper anomalism (Figure 7*). Assay results are awaited.

CSAMT resistivity data acquired prior to drilling showed the presence of a conductivity feature beneath the area of soil anomalism and massive sulphide float. The initial interpretation postulated the presence of two discrete conductivity features dipping 45deg to the north, parallel to stratigraphy. Forward modelling confirmed the interpretation to be feasible. To better model the presence of the conductor a FLEM survey was completed.

Drilling of KW21-01 concluded prior to forward modelling of the CSAMT data being completed. The drill hole stopped short of the upper conductor. Drilling of KW21-02 was completed subsequent to forward modelling of the CSAMT, with the drill hole extending through the lower conductivity target modelled. No source to the conductivity anomaly was intersected.

Post-season geophysical modelling of the FLEM survey has recently been completed. The model confirms the initial interpretation that there are two discrete conductors, and more importantly has identified a strong conductor along strike to the east of the two drill holes completed (Figure 6*). Significantly the discrete conductor is:

- Over 400 metres long striking east-west, dipping steeply to the north.

- Commences from 150 metres below surface.

- Has a strong conductivity thickness of 40 siemens, consistent with the potential to be a response related to chalcopyrite-rich massive sulphide mineralisation.

- Located in a down-dip position along strike to the east from the chalcopyrite-rich massive sulphide boulder train.

- Along strike 100 metres east from anomalous copper within drill hole KW21-02 (Figure 6*).

Jack Frost VMS Prospect.

The Jack Frost prospect is defined by a 400-metre-long, west northwest trending lead-zinc soil anomaly (Figure 8*), coincident with a trend of exhalite-type altered rock float that includes massive sulphide float that is believed to be near its source. Hangingwall geology to the north comprises a conductive package of carbonaceous schists.

Drill hole JF21-01 was completed to test the bedrock source of the anomalism, intersecting a weak zone of pyrite-sphalerite-galena associated with faulting. No massive sulphide mineralisation was intersected. Assay results are awaited.

Surface geophysics (CSAMT & FLEM) and downhole EM data was acquired. Modelling of the downhole EM identified minor, weak off-hole conductors. Modelling of the FLEM is ongoing.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/GFK613FS

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