White Metal Advancing Major Gold System in Ontario, Heading to Resource on Copper-Silver Deposit in Namibia, and has Impressive Portfolio of High-Value Assets
White Metal Resources Corp. (TSX:WHM)
NEW YORK, NY, UNITED STATES, April 21, 2021 /EINPresswire.com/ — White Metal Resources Corp. (TSX-V: WHM) (US Listing: TNMLF) (Frankfurt: CGK1) this week announced the discovery of a new gold zone (called the Ellen Zone) at its recently optioned Tower Stock Gold Project in Ontario, which is currently undergoing a ~4,000 m drilling program. The Company also reported additional results from diamond drill holes targeting expansion of historical zones and new target areas determined from the fall 2020 prospecting program.
Tower Stock Gold Project is located in the Shebandowan Greenstone Belt ~40km west-northwest of the port city of Thunder Bay, Ontario, Canada. The project hosts an extensive syenite-associated disseminated gold system, a type similar to deposits in the Kirkland Lake and Malartic gold camps, and the Young-Davidson Mine (Alamos Gold). The project has a historical resource on the UV & Bench zones which has seen historical drilling from the likes of Inco, Noranda, Avalon, and finally ValGold — previous work over the last 30 years has only scratched the surface (~200 m depths) in select areas along the contact region with the intrusive complex, and many holes ended in target gold mineralization. White Metal's geological team is taking an approach that looks at the big picture multi-million ounce gold potential of the syenite intrusive rock using a modern systematic approach and with an improved understanding.
White Metal’s latest exploration update is in its news release dated April 20, 2021 entitled White Metal Drills New Gold Zone Discovery Yielding 82.5 Metres of 1.7 g/t Au, Including 45 Metres of 3.0 g/t Au at the Tower Stock Gold Project, Ontario. The new ‘Ellen Zone’ gold discovery (hole TM-21-94) is located about 340 metres south of the U-V Zone and about 300 metres north of the Bench Zone. The area of the new discovery has seen no historical drilling and is open in all directions. Michael Stares, President and CEO of White Metal, commented, “I am extremely pleased to deliver these exciting drill results from our first drilling program. This newly discovered gold zone demonstrates the Project’s excellent potential and how we can quickly build on the number of known gold zones within Tower Gold. With further drilling results expected shortly and final interpretation of the DasVision IP Survey (see Company news release dated February 17, 2021) expected in the coming days, the Company will soon be in an excellent position to aggressively advance this new discovery along with testing and expanding a number of other known zones on the Property. I am very confident that our exploration work will continue to enhance the Property and advance our understanding of the new and known gold targets within the Tower Mountain Gold Project.”
White Metal Resources Corp. is also the subject of a Mining MarketWatch Journal review, full copy of which may be viewed at https://miningmarketwatch.net/whm.htm online. The following is an excerpt:
White Metal Resources Corp. is a Canadian-based junior explorer mining company that has graduated from a pure project-generator model to now advancing two major projects; 1) its newly optioned Tower Stock Gold Project in Ontario, and 2) its 95%-owned Okohongo Copper-Silver Project in Namibia, in addition to holding an array of other projects.
White Metal Resources Corp. appears undervalued relative to inherent latent intrinsic value: WHM.V currently has a nominal market cap of ~C$13M (97,893,211 shares trading at ~C$0.13). The share price of WHM.V is apt to appreciate from the current trading price as continued news flow occurs, and as the significance of what White Metal possesses is better appreciated by the market, reflecting the significant growing intrinsic value on its many projects. The Company is well-capitalized (having closed a C$2.273 million private placement in February-2021) and is positioned to aggressively advance its flagship Tower Stock Gold Property in Ontario and its Taranis (Okohongo) Copper-Silver Project in northwestern Namibia, which includes taking the historical mineral resources of the Okohongo Copper-Silver Deposit to NI 43-101 compliance.
Transformation of White Metal Resources Corp.: The Company has a lot of moving parts as it also retains a vast portfolio of quality projects (see listing below) from its approach as a project generator. As is often the case with project generators, the sum of the parts is greater than the whole until market awareness kicks-in — over time if management makes the right moves, cyclical markets cooperate, and geological/exploration success prevails, astute investors can be handsomely rewarded, WHM.V is certainly now at an inflection point. About 3 years ago, when commodities were out of favour, management of WHM.V decided to make a play for advanced copper-silver projects in Namibia — instantly transforming WHM.V into a company with tonnage in the ground on two copper-silver projects (Okohongo & DorWit). This was a departure from advancing grassroots projects as a project generator. Several years later the opportunity to acquire Tower Stock Gold Project was presented through a contact and as a result this exciting gold project pushed the Namibian copper-silver projects off the front burner and DorWit was optioned-out (see details below, it is a valuable asset that the JV partner is advancing with no risk/cost to WHM.V which retains 25% ownership). Now factor in the other project generator assets of White Metal Resources and the inherent latent intrinsic value of WHM.V is immense.
The following URL’s have been identified for additional DD on White Metal Resources Corp.:
Corporate website: https://www.whitemetalres.com
Recent Mining MarketWatch Journal review: https://miningmarketwatch.net/whm.htm
Mining MarketWatch Journal
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WHITE METAL RESOURCES TOWER STOCK ELLEN ZONE
Source: EIN Presswire