White Rock rallies after first round of assay results

By Trevor Hoey. Published at Jun 18, 2018, in Mining

White Rock Minerals Ltd (ASX:WRM) has revealed promising results from the first round of assays analysed for massive sulphide mineralisation intersected in two of the first three diamond drill holes at Red Mountain in Alaska.

As a backdrop, this project which is in central Alaska is wholly owned by White Rock and features volcanogenic massive sulphide (VMS) style zinc mineralisation from surface which is open along strike and down dip.

The project comprises the Dry Creek and West Tundra flats deposits with an inferred mineral resource of 678,000 tonnes of zinc, 286,000 tonnes of lead, 53.5 million ounces silver and 352,000 ounces gold.

Latest drilling reveals similarities with previous styles of mineralisation

Intervals recently intersected correspond with the visible sulphide mineralisation previously reported.

The diamond drilling results are part of White Rock’s maiden drill campaign at the Red Mountain project.

They are from infill drilling of the two existing deposits, Dry Creek and West Tundra, with a resource base of 16.7 million tonnes at 8.9 per cent zinc equivalent.

This includes a high-grade component of 9.1 million tonnes at 12.9 per cent zinc equivalent as defined in the maiden resource delivered in April 2017.

WRM does remain a speculative stock and investors should seek professional financial advice if considering this stock for their portfolio.

Best grade-thickness intersection at West Tundra

At West Tundra, an intercept from 60.6 metres to 63.1 metres downhole with an estimated true width of 3.4 metres represents the best grade-thickness intersection for any drilling at West Tundra.

This hole is some 75 metres from the nearest hole, indicating the sparse drilling of between 100 metres and 250 metres at West Tundra.

Management is of the view that this suggests the deposit is open to improvements in grade and thickness with infill drilling.

As demonstrated below, the DC18-76 intercept at Dry Creek is in line with surrounding drill intersections.

The high-grade mineralisation from 63.9 metres to 72.7 metres downhole has an estimated true width of 7.9 metres

This hole is some 20 metres from the nearest holes.

Management confident of adding to maiden resource in coming months

Commenting on these developments, managing director Matt Gill said, “These first drill assay results for the Dry Creek and West Tundra deposits validate our belief that these two deposits form part of a genuine high-grade zinc rich polymetallic VMS mineralisation system.

Our exploration program focus is to expand the maiden resource and to identify and test new targets to make the additional discoveries.

Initial drilling and surface mapping and sampling have allowed us to characterise the mineralisation at Red Mountain, providing the knowledge with which to identify, prioritise and test these new targets.

This is a great start to our 2018 exploration program and we are confident of adding to our maiden resource in a meaningful way over the next few months.”

Today’s news triggered a 12.5% spike in the company’s shares in early morning trading on Monday.

The past performance of this product is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.

Preparing to drill high priority targets

On this note, field crews commenced their mapping and soil and rock chip sampling on the highest priority targets at the beginning of June prior to selecting targets for drill testing throughout the 2018 campaign.

The geophysics crew has commenced field surveys with initial orientation work across the known mineralisation at Dry Creek in progress.

Electrical surveys are expected to commence on new targets this week.

Where to invest $1,000 right now

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.

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!