White Rock Minerals commences drilling at Mt Carrington
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
White Rock Minerals (ASX: WRM) advised on Wednesday that it had commenced drilling at the Mt Carrington gold-silver project in northern New South Wales, an initiative that will assist the company in establishing a Definitive Feasibility Study (DFS).
Since 2010, WRM has made good progress at Mt Carrington having successfully expanded the mineral resource. The JORC 2004 Indicated and Inferred Mineral Resource currently stands at 338,000 ounces of gold and 23 million ounces of silver.
The DFS will allow the company to upgrade the resource to JORC 2012 standards and provide the foundations for the metallurgical test work required to lock down the preferred plant design.
There are four gold dominant deposits (Strauss, Kylo, Guy Bell and Red Rock), one gold-silver deposit (Lady Hampden) and three silver dominant deposits (White Rock, Silver King and White Rock North).
All of these deposits are amenable to open pit mining with mineralisation extending from surface, providing WRM with the potential to both substantially expand the mineral resource and transition to a sizeable producer within a relatively short period of time.
Scoping study supports low-cost project with short payback period
Scoping studies currently support the development of a gold-silver operation at Mt Carrington. Based on Australian dollar commodity prices of $1600 per ounce gold and $22 per ounce silver, projections point to production of 111,000 ounces of gold and 6.7 million ounces of silver over an initial mine life of seven years.
However these are projections only and investors should seek professional financial advice and further information if considering this stock for your portfolio.
It is worth bearing in mind that based on current commodity prices and foreign exchange rates the Australian dollar gold price is circa $1700 per ounce and the silver price is $24.20 per ounce.
While WRM has several options open to it in terms of prioritising mining initiatives, a planned drill program which will provide further material for metallurgical testing is being sourced from the open pit Lady Hampden deposit.
WRM Chief Executive Matt Gill said that the Lady Hampden open pit forms an important part of the mine plan in the DFS including the probable optimum ore processing route.
The deposit currently has a JORC 2004 indicated and inferred resource estimate of 4.3 million tonnes grading 58 grams per tonne silver and 0.5 grams per tonne gold for 8.1 million ounces of silver and 64,000 ounces of gold.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
