New high-priority targets at White Rock's Red Mountain Project
White Rock Minerals (ASX:WRM) has identified a number of high-priority geochemical anomalies within its recently expanded high-grade Red Mountain zinc-silver-lead-gold-copper volcanogenic massive sulphide (VMS) project in Alaska.
Just weeks ago, WRM announced that it had expanded its strategic landholding at Red Mountain in consultation with its strategic partner, Sandfire Resources (ASX:SFR), staking an additional 524 mining claims to bring the total to 754 and more than tripling its landholding.
The company completed a detailed regional stream sediment program over prospective stratigraphy within the Red Mountain project area during the 2018 field season, identifying eight high priority geochemical targets for follow-up.
The target areas cluster in two distinct areas: west of the known mineralisation at Dry Creek (the southern limb of the Bonnifield syncline) and in the Glacier Creek area with strong sulphide footwall alteration on the northern limb of the Bonnifield syncline.
Strong precious metal and other pathfinder elements were detected, with WRM identifying strong base metal anomalism of up to 1.1% zinc in streams, which indicates high prospectivity for outcropping massive sulphides.
This part of the comprehensive 2018 exploration program was optimised based on the geochem orientation survey completed across known mineralisation at Dry Creek. This 'calibration' provided a geochemical signature of base metal and precious metal elements together with other pathfinders to use for future exploration of the VMS prospective stratigraphy on both the northern and southern limbs of the regional Bonnifield syncline.
The 2018 reconnaissance program identified a number of extensive alteration features for future exploration. Some of these extend on surface for several kilometres of strike.
The results from the regional stream sampling program have successfully highlighted eight priority anomalies within the area of alteration, providing areas for immediate focus through follow-up ground reconnaissance, surface sampling and the application of electrical geophysics prior to drill targeting.
The significance of some of the geochemical anomalies is illustrated by the tenor of anomalism with one stream sample returning 1.1% zinc in an area towards the top of the VMS prospective stratigraphy to the west of the Dry Creek deposit.
No previous exploration has prospected the immediate catchment area, indicating how prospective the immediate surrounds remain.
Additionally, the area of the northern limb known as Glacier Creek displays footwall sulphide alteration that extends for over 10 kilometres of strike. The stream sediment survey has identified four discrete high priority targets within the area of alteration.
Follow-up work will now be able to focus on these discrete areas of anomalism to rapidly advance to drill testing in 2019.
CEO, Matt Gill, said: “We recently expanded our tenement footprint three-fold, to now hold a strategic land package of some 475km2. This expansion follows a successful first year of field activities for White Rock where drilling intersected multiple high-grade intervals of zinc-silver-lead-gold-copper mineralisation at Dry Creek and West Tundra. With some drill hole results returning in excess of 17% zinc, 6% lead, 1,000 g/t silver, 6 g/t gold and 1.5% copper, the 2018 field season also saw three reconnaissance crews out in the field mapping and sampling.
“The culmination of this work encouraged White Rock to expand its strategic tenement holding to take in more of what has been identified as a highly prospective geological setting.
“In addition to this successful drilling campaign, including a new discovery of high-grade zinc-rich VMS mineralisation at the Hunter prospect, we now have the results from our regional stream sediment sampling campaign. These results reinforce our belief that the Red Mountain project could yield a camp of VMS deposits in the year ahead.
“Together with the expansion of the tenement package to 475km2 and coverage of multiple new VMS occurrences throughout the Bonnifield district, White Rock is now poised to advance the project rapidly in 2019 through a second year of aggressive prospecting and drilling.”
Short-term positions in small, early stage ASX companies,
with high potential and near term price catalysts.
Focusing on resource exploration, early-stage tech, and biotech.
Exceptional opportunities across a broad range of
early-stage growth sectors with strong management.
Seeking 1,000% plus returns across medium to long-term holds.
Longer-term positions in a variety of sectors.
Seeking strong management where traction is established and have entered into a growth phase.
S3 Consortium Pty Ltd (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 only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.