White Rock Minerals provides update from Red Mountain VMS project

By Justin Ware. Published at Apr 9, 2019, in Mining

White Rock Minerals (ASX:WRM), in collaboration with its JV partner Sandfire Resources NL (ASX:SFR), has provided a strong update on its comprehensive exploration program at high-grade zinc and VMS deposits at Red Mountain in Alaska.

The 2019 field exploration program has been developed in conjunction with Sandfire, and aims to drill test the maximum number of new targets. The newly formed JV Management Committee, which comprises of two representatives from each company, has approved a 2019 exploration program.

This program will commence immediately with a budget of A$6,000,000. This is a major coup for WRM, as this figure is A$1m above the minimum contribution required of Sandfire during 2019 (given it loaned A$1m to the 2018 exploration program).

Of particular note in the upcoming exploration program is a new contract with SkyTEM, an industry leading airborne EM surveyor.

WRM is now in the process of revamping the exploration base at Red Mountain, which was left untouched during winter. Preparations are also being made to fly fuel in for exploration works.

WRM Managing Director and CEO Matt Gill commented on the update, “Commencing the 2019 exploration program on our globally significant high-grade zinc and precious metals VMS project in central Alaska is an exciting time for the company and all our shareholders.

“To be able to use a modern high-powered geophysics technique for the first time, not previously applied to this highly prospective field, is a great kick-off to this field season. Having the technical and financial support of Sandfire Resources – a very successful explorer and developer of VMS deposits – is a strong endorsement to the quality and potential of our Red Mountain Project,” he said.

Read more about the Sandfire JV: White Rock/Sandfire JV provides platform for Red Mountain

Anticipated field exploration activities in 2019 include:

  • A 3,000 line kilometre SkyTEM airborne electromagnetics (AEM) survey commencing mid-April. SkyTEM is projected to start within a fortnight, with this work having never been done across the entire project area
  • Satellite spectral analysis including the assessment of hyperspectral data to identify and map zonation ahead of field exploration
  • Regional whole rock lithogeochemical analysis of tenement-wide rock chip samples collected in 2018
  • Detailed on-ground geological reconnaissance and soil geochemical sampling across regional target areas using a portable XRF analyser to deliver rapid target definition
  • A diamond drill program commencing late-May to follow up the successful discovery of new massive sulphide mineralisation at the Hunter prospect in 2018
  • Another diamond drill program to test the best of the regional targets defined by the use of multi-disciplinary airborne EM, 2018 stream geochemical anomalies, new satellite defined alteration and more
  • Detailed electrical ground geophysics (CSAMT and MT) across the regional targets replicating the most rapid field acquisition electrical technique that successfully mapped conductivity associated with mineralisation at the two existing deposits: Dry Creek and West Tundra
  • Selective downhole electromagnetic surveys to identify off-hole conductivity anomalies for follow-up drill testing.

About Red Mountain

The Red Mountain Project is located in central Alaska, 100km south of Fairbanks in the Bonnifield Mining District. The tenement comprises 760 mining claims over a total area of 475km2.

The project contains polymetallic VMS mineralisation rich in zinc, silver and lead, with the potential for significant gold and copper. Mineralisation occurs from surface and is open along strike and down-dip.

To date there are already two high grade deposits at the Red Mountain Project, with an Inferred Minerals Resource of 9.1 million tonnes at 12.9% zinc equivalent for 1.1Mt of contained zinc equivalent.

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.

Publishers Notice

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.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!