White Rock extends mineralisation at Red Mountain

By Justin Ware. Published at Sep 24, 2018, in Mining

White Rock Minerals (ASX:WRM) has received assay results for a further six diamond drill holes at its Red Mountain VMS project in Alaska.

Results have identified new targets away from the known deposits at Dry Creek West, Ram and Megan’s South, and extended mineralisation at the Dry Creek Deposit (Discovery Lens and Fosters Gap targets).

Additional results from a further seven diamond drill holes remain outstanding are expected within the next month.

The current assay results included the following:

  • 4.2m at 5.9% zinc, 2.5% lead, 96g/t silver, 0.9g/t gold and 0.1% copper for 11.4% zinc equivalent (DC18-82) from the Discovery lends, Dry Creek deposit.
  • 5.2m at 2.5% zinc, 0.9% lead, 12g/t silver, 0.1g/t gold and 0.1%copper for 3.7% zinc equivalent (DC18-84) from the Foster lens, Dry Creek deposit.
  • 5.2m at 2% zinc, 0.9% lead, 39g/t silver, 0.2g/t gold and 0.1% copper for 3.9% zinc equivalent (DC18-85) from the Foster lens, Dry Creek deposit.
  • 7.6m at 1.4% zinc, 0.4% lead, 4g/t silver, 0.1g/t gold and 0.1% copper for 2.1% zinc equivalent.

The above results are part of WRM’s maiden drill campaign at the Red Mountain project. There are already two existing deposits on site, Dry Creek and West Tundra, which form a Resource base of 16.7Mt at 8.9% zinc equivalent including a high-grade component of 9.1Mt at 12.9% zinc equivalent.

However, this remains a speculative stock and investors should seek professional financial advice if considering this stock for your portfolio.

WRM Managing Director and CEO Matt Gill commented on the promising results, “This drilling represents a significant extension to the Dry Creek Deposit and notably down dip at both the Fosters and Discovery lenses.

“The recent results also include the testing of more distant targets identified from our work based on the earlier data and supported by our recent on-ground reconnaissance work, followed by the application of the CSAMT geophysics tool.

“The results do point to broad VMS mineralisation zones, containing zinc, lead, silver, gold and copper that warrant follow-up in 2019.”

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.

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