White Gold Chief Technical Advisor Shawn Ryan joined INN at PDAC to provide an update on the company’s exploration of the White Gold District.
White Gold (TSXV:WGO,OTC:WHGOF,FWB:29W) Chief Technical Advisor Shawn Ryan joined the Investing News Network at the Prospectors & Developers Association of Canada conference to discuss his company’s progress exploring its collection of drill targets within the White Gold District, including the Titan discovery.
Ryan formed White Gold Corp in 2016 by combining together a collection of properties that have since led to the discovery of more than seven million ounces of gold, including the Golden Saddle and Arc deposits. When Ryan first formed the company, he decided it would be more efficient to keep the entire land package intact within one company rather than splitting it up into pieces for junior explorers to purchase.
“It’s over a million acres, it’s a massive system. The idea is that I took all the projects that I had been methodically working on for 20 years, and decided instead of piecemealing it out to 10 different juniors, I should believe in my own kool-aid and we should have at least one deposit with a high probability of two,” he said. “I created a business plan, which was a three-year plan and we shopped that around. It was going to cost five million a year to systematically look at all the targets over a three year period. It’s like kissing all the frogs and figuring out how many princesses we have.”
Ryan believes in taking a patient approach to regional exploration by using improved technology to optimize results. The company’s “Drones to Drills” program has enabled a more efficient exploration of the district, which has attracted major partners like Agnico Eagle Mines (TSX:AEM,fNYSE:AEM). “Three years ago Agnico became our partner right away. They loved the idea of this regional exploration using our new drones to drills technology,” he said. “It was good old 1980s-style exploration. It was done by the book, no stone unturned. We didn’t try to skip to the drilling stage quickly because the probability isn’t good. This is the only business where the norm is to fail. So how do we increase our odds? It’s with good science.”
White Gold continues to explore the district following Ryan’s prospecting work, which has already returned a recon rotary-air-blast hole of 72.81 g/t gold over 6.09 meters. Moving forward, the company intends to continue to drill the property to confirm these high-grade results. “It’s a magnetic orebody, magnetite. We all know how well a magnet sticks on a fridge. It’s very easy to locate and model,” said Ryan. “If it truly does confirm what we’ve hit, that could be one of the better holes seen in the Yukon in a long time.”
After spending a significant amount of money on last year’s exploration program, Ryan and the White Gold team intend to conduct further follow-up exploration depending on the data at their disposal. “Last year we spent about 13 million, this year we’re going to spend between three and eight, depending on where the ball moves,” said Ryan. “We have five million in the till. That’s why we’re saying we’ll start with a minimum of three. We’ll see if we bump it up.” Ryan is confident in White Gold’s exploration plans, which he hopes will allow the company to isolate assets without diluting the value of the company. “White Gold’s model is to hunt, find the targets, make sure it has legs through phase two drilling and diamond drilling, and isolate the asset if it’s a bonafide discovery.”
Based on the growing number of discoveries White Gold has made, Ryan is hopeful that the company is nearing the decision to establish a camp and work towards production. “When does a mining camp become a mining camp? It’s a question I pose to a lot of companies. Is it two deposits, is it 10 deposits? When do you call that?” he said. “This was the vision I had 20 years ago and it’s happening.”
This interview is sponsored by White Gold (TSXV:WGO,OTC:WHGOF, FWB:29W). This interview provides information that was sourced by the Investing News Network (INN) and approved by White Gold in order to help investors learn more about the company. White Gold is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
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