White Rock confirms zinc rich massive sulphide discovery
Drill testing by White Rock Minerals (ASX:WRM) of the massive sulphide horizon at its Hunter Prospect, part of the Red Mountain Project in Alaska, has yielded immediate promising results.
Rock chip assay results from the Hunter discovery outcrop confirm high grade zinc in the massive sulphide horizon with up to 18.6% zinc, 5.4% lead, 2.3% copper, 147g/t silver and 0.7g/t gold.
Holes HR18-01 and HR18-02 tested the massive sulphide 50 metres down dip from the discovery outcrop on the surface and then a second follow-up hole another 30 metres down dip from that hole and on the same cross section.
The first hole intersected 1.4 metres of massive sulphide from 48 metres down hole and the second intersected 1.8 metres from 60 metres down hole.
Grades in excess of 20 per cent zinc and lead
In highlighting the promising grades being delineated, CEO Matt Gill said, “We are excited with the success of the first two drill holes at the newly discovered Hunter prospect.
“These high-grade zinc results from the discovery outcrop are extremely encouraging with grades in excess of 20% combined zinc and lead.
“With significant silver grades as well as copper credits greater than two per cent, this marks the potential for a significant deposit to emerge at Hunter.”
Overall this is an early stage play and as such any investment decision should be made with caution and professional financial advice should be sought.[ME1]
While Hunter is demonstrating promising prospects, drilling will also continue to test the other new targets identified from the ongoing reconnaissance mapping and geochemical sampling.
The location of new prospects identified from surface reconnaissance and geochemical sampling are indicated below.
It is worth noting that the exploration program has to date covered just 20 per cent of the company’s strategic tenement package of 143 square kilometres, already identifying some seven areas of interest which will be considered for a targeted drilling campaign.
Background to Hunter
The Hunter prospect was recently discovered through geological reconnaissance, where a 60 centimetre wide massive sulphide outcrop rich in sphalerite (zinc) and galena (lead glance) was found.
Subsequent prospecting mapped massive sulphide over 500 metres of strike within a carbonaceous phyllite that can be traced over one kilometre of strike.
The zone of mineralisation is defined by anomalous soil geochemistry.
Portable XRF analysis of soil samples returned up to 24.3% zinc, 2.4% lead, 1.5% copper and 249 ppm silver.
As indicated above, rock chip sampling of the massive sulphide from the discovery outcrop confirmed the quality of the grades.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
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.