White Rock Minerals Ltd: High-Grade Gold Drill Results - Morning Star Gold Mine, Vic

Ballarat, Australia - White Rock Minerals Ltd. (ASX:WRM) (OTCMKTS:WRMCF) is pleased to provide an update on surface drilling and further assay results for the Dickenson South underground target area at the Morning Star underground Gold Mine. This target area, between surface and 6 Level, is within 100 metres of the existing shaft and accessible from multiple levels.

The recent drill program has returned multiple high-grade gold intersections through the Dickenson Reef at a similar grade and thickness to historic high-grade drilling results (Figure 1*), providing the Company with confidence that the Dickenson Reef could form one of multiple production areas in any restart scenario.

Of particular significance is that the Dickenson Reef shows strong potential for a significant "high-grade" zone to exist towards the southern margin of the dyke with high grades (>10g/t) encountered in four adjacent drill holes (21SDS003, 21SDS007, 22SDS010 & 20MS01), with thicknesses (0.6 to1.6 metres) better than the average reef thickness through the deposit (0.4 to 0.6 metres). Figure 1 highlights the area where a significant "high-grade" zone could extend for over 100 metres of strike and up to 50 metres downdip. The Dickenson Reef "high-grade" target area includes the following intersections:

- 1.2 metres @ 24.4g/t gold in 21SDS007 (true width)
- 0.6 metres @ 21.5g/t gold in 21SDS003 (true width)
- 1.6 metres @ 10.6g/t gold in 21SDS010 (true width)
- 0.7 metres @ 13.3g/t gold in 20MS01 (true width)
- 2.4 metres @ 16.9g/t gold in MS364 (true width)

White Rock's primary objective at the Morning Star Gold Mine is a low capital cost restart of production from multiple reef locations. We seek to achieve this by identifying and drilling areas of the dyke with potential to host multiple high-grade gold quartz reefs proximal to existing underground development infrastructure.

The Dickenson South target area is one such primary target with multiple high-grade gold bearing reefs, and proximity to surface and existing underground infrastructure (Figure 2*).

Surface diamond drilling of the underground Dickenson South target commenced in late 2021 with initial results from the first holes reported in January 2022. To date, eleven diamond drill holes have been completed for 2,183 metres, testing mineralised reefs including the Age of Progress, Stacpoole, Exhibition, Shamrock, Dickenson and Whitelaw reefs, between surface and Level 6 at the Morning Star Gold Mine.

Complimenting the results previously reported for the first five holes in the program, complete assay results have now been received for a further four surface diamond drill holes (21SDS007 to 22SDS010), along with the last 55 samples from hole 21SDS006. Significant drill intersections from the latest holes are summarised in Table 1* below. All drill assays >1g/t gold from the current program at the Dickenson South target are provided in Table 3. Assay results are pending for hole 22SDS011.

Drilling results have been extremely encouraging with multiple high-grade intersections across various reefs. These results support the interpretation that there may be an extension of the mineralisation from historic stoping with existing development access near the shaft, through to the southern dyke margin. A three-dimensional interpretation of the reefs is well advanced (Figure 3*) and will inform targets for closer spaced drilling that have the potential to contribute to a near-term production restart without the need for extensive capital works.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/I41Y9TFF

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:

Mr Matthew Gill Managing Director and CEO info@whiterockminerals.com.au Mr Alex Cowie Media and Investor Relations alexc@nwrcommunications.com.au