Developing an Extensive Discovery Portfolio in the Yukon
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White Gold Corp. (TSXV:WGO, OTC:WHGOF, FRA:29W) is a gold exploration company with an extensive property portfolio comprised of over 40 percent of the Yukon’s prolific White Gold district, the site of the historic Yukon gold rush.
The company was formed in 2016 by Shawn Ryan, the legendary prospector whose Yukon properties have led to the discovery of over seven million ounces of gold to date. The company has added the expertise of multiple other mineral exploration and capital market experts that have been directly involved in every major gold discovery in the White Gold District. The company has also attracted Agnico Eagle Mines Limited (TSX:AEM,NYSE:AEM) and Kinross Gold Corp (TSX:K,NYSE:KGC) as shareholders who each own 19 percent of White Gold.
The company’s flagship project is the White Gold property, which is home to the Golden Saddle & Arc gold deposits. The deposits host an indicated resource of 1.03 million ounces grading 2.26 g/t gold and an inferred resource of 508,700 ounces grading at 1.48 g/t gold.
White Gold is also advancing its road-accessible JP Ross property, which hosts the high-grade Vertigo gold discovery. In Fall 2018, the company staked an additional 717 claims adjacent to the west and south of the JP Ross property, further securing the land position surrounding the Vertigo discovery. In its 2018 exploration season on Vertigo, White Gold recovered some of the highest results in the entire district, including 30.46 meters grading 22.47 g/t gold, and 3.05 meters grading 59.30 g/t gold. High-grade grab samples in the area also included 257 g/t gold over a 1.1-kilometer strike length. Drilling is ongoing at nearby targets, such as Suspicion, Stage Fright and Frenzy, indicating up to a 12-kilometer trend.
In early 2019, White Gold acquired the QV gold project, which hosts the historical 230,000-ounce VG gold deposit, from Comstock Metals Ltd. (TSXV:CSL). The company continues its exploration activity on the property with the goal of further expanding the resource and investigating multiple high-grade targets along trend, including the Stewart, Tetra and Shadow zones.
White Gold has a fully funded $13 million 2019 exploration program. The program is designed to follow up on the high-grade Vertigo discovery, to expand the Golden Saddle & Arc deposits, as well as to continue exploration on the VG resource on the QV property.
The remaining properties in the company’s extensive land package are in various stages of development and are split into eight areas: White Gold, Sixty Mile, Klondike, Money, White-Stewart, Coffee Trend East, Coffee Trend West and Beaver Creek. To date, the company has produced multiple high-grade gold discoveries from across its properties, with highlights including Vertigo with 22.47 g/t gold over 24.4 meters, Ryan’s Surprise with 20.64 g/t gold over 6.1 meters, Golden Saddle West with 2.97 g/t gold over 10 meters, and Betty with 1.08 g/t gold over 50.3 meters.
White Gold Company Highlights
- Largest landholder in the Yukon’s White Gold district, owning over 40 percent of all claims.
- Flagship Golden Saddle deposit has an indicated resource of 1.04 million ounces grading 2.26 g/t gold, and an inferred resource of 508,700 ounces grading at 1.48 g/t gold.
- Strong pipeline of high-grade gold exploration discoveries, including Vertigo, GS West, Ryan’s Surprise targets, among multiple others.
- Recently acquired QV property has a historical resource of 230,000 inferred ounces of gold.
- Strategic partners with Agnico Eagle and Kinross, each owning 19 percent of the company.
- $13 million fully funded 2019 exploration program across its land package, including on the White Gold, JP Ross and QV properties.
- Proprietary data-driven exploration methodology, based on extensive historical exploration database.
- Operating exclusively in the mining-friendly jurisdiction of Yukon, Canada.
- Experienced management team has been involved with every major gold discovery in the White Gold district.
White Gold’s Ownership Structure
White Gold has two strategic shareholders in the company: Agnico Eagle Mines Ltd. and Kinross Gold Corporation, each owning 19 percent of White Gold Corp, while sharing their wealth of technical support and experience.
Along with the company’s major shareholders, White Gold’s management team has extensive experience, including Shawn Ryan (Chief Technical Officer, world-famous prospector), Jodie Gibson (VP of Exploration, part of the exploration team that first discovered the Golden Saddle by Underworld Resources, which was acquired by Kinross for over $130M), and Dr. Robert Carpenter (Director, founder of Kaminak, which discovered and sold the Coffee deposit to Goldcorp for over $530 million). Each member of management has been directly involved in each of the District’s major gold discoveries.
The White Gold District
The Yukon’s White Gold district lies in the Tintina gold belt, a 200-kilometer-wide by 1,200 kilometer-long arc the extends from northern British Columbia into southwestern Alaska. The district was made famous in the 1896 Klondike gold rush and has historically produced 20 million ounces of placer gold. Interest in the district was reignited in 2007, primarily by Underworld’s Golden Saddle discovery, and over seven million ounces of gold have been discovered since then.
Due to the prolific nature of the area, the Yukon government launched the Yukon Resource Gateway project in September 2017. The Yukon and federal governments dedicated over $360 million to improve road access into primarily two mineral-rich areas in the Yukon, which pass directly through White Gold’s land package. The project is expected to help upgrade approximately 650 kilometers of road and help build or replace numerous bridges, culverts and stream crossings. The main roadway will travel through several of White Gold’s properties, and through Newmont Goldcorp’s Coffee project and Western Copper’s Casino project, improving the road accessibility of much of the district.
Drones to Drills™ Technology
White Gold’s Shawn Ryan has developed a proprietary exploration technology with GroundTruth Exploration Inc. The technology allows for year-round exploration and has a much smaller environmental footprint compared to traditional exploration methods. The technology includes the utilization of aerial drone surveys to capture images of the area which are then combined with current project scale imagery at an ultra-high resolution. Providing mineral exploration companies both effective and efficient exploration programs.
Flagship Property: White Gold
In May 2017, White Gold acquired a 100 percent interest in the properties held by Kinross in the White Gold District in the Yukon. The acquisition consisted of the White Gold property, among others. Under the terms of the agreement, Kinross attained its 19 percent interest in White Gold.
The over 34,000-hectare property is comprised of over 1,700 claims approximately 95 kilometers south of Dawson City, Yukon. The property is accessible by helicopter, airstrip and barge, and a 100-person mine camp is located nearby at the Thistle Creek camp. White Gold is aggressively developing two key deposits on the property: Golden Saddle and Arc.
Golden Saddle Deposit
The Golden Saddle deposit trends northeast and is comprised of zones of structurally-controlled gold mineralization that are commonly associated with fracture-controlled pyrite, quartz flooded breccias and stockwork quartz veins.
During the company’s 2018 exploration program, White Gold discovered a new shallow zone of mineralization on trend with the existing Golden Saddle deposit. The new zone, Golden Saddle West (GS West), is located approximately 750 meters west of the Golden Saddle deposit and is on trend with several other nearby targets, including Ryan’s Surprise. GS West continues to be open at depth and along strike. Some highlighted drill intervals from the zone include 24 meters grading 1.92 g/t gold and 10 meters grading 2.97 g/t gold. White Gold continues to expand the Golden Saddle deposit throughout the exploration program by identifying the Golden Saddle Upper zone (GS Upper zone).
The Arc zone is south of and adjacent to the Golden Saddle deposit. In 2017, White Gold was able to extend the strike length by 250 meters and intercepts of 12.19 meters grading at 1.52 g/t gold were recovered from the property.
2019 White Gold Property Resource Estimate Update
In June 2019, White Gold released an updated mineral resource estimate for the White Gold property. The report outlined an indicated resource of 1.03 million ounces grading 2.26 g/t gold and an inferred resource of 508,700 ounces grading at 1.48 g/t gold from the Golden Saddle and Arc deposits. Within that, there is a high-grade core that holds 832,000 gold ounces at a grade of 2.96 g/t gold indicated and 107,000 ounces at 3.18 g/t gold inferred using a cutoff greater than 1 g/t gold . Overall, White Gold was able to increase its resource at Golden Saddle and Arc by 25 percent in this update. Golden Saddle and Arc mineralization remains open along strike and down dip.
Ryan’s Surprise Discovery
During the 2018 exploration season, Ryan’s Surprise was discovered, located two kilometers west along trend of the Golden Saddle deposit. Ryan’s Surprise is another significant discovery and has drill results including 20.64 g/t gold over a 6.1-meter intercept and 5.02 g/t gold over 13.2 meters. The discovery of the deposit was due to an 800-meter by 115-meter soil anomaly that returned values of up to 1,576 ppb gold. The showing is on trend with the Golden Saddle deposit, but the area between the showing and deposit remains historically unexplored.
White Gold will be conducting additional exploration on the property in order to expand the resource. Exploration will also be focused on testing and identifying new targets on the property.
The 193,832-hectare White-Stewart property is comprised of 9,665 claims that sit along an 80-kilometer trend adjacent to the White Gold and JP Ross properties. The property is accessible by road, airstrip, barge, and helicopter and offers early-stage and drill-ready targets. Most of the claims on the property lie along the proposed road that will connect Newmont Goldcorp’s Coffee project and Dawson City.
The JP Ross property is comprised of 2,251 claims that cover approximately 45,600 hectares and numerous placer gold bearing creeks. Historic exploration conducted by Underworld Resources and Kinross includes geochemical surveys, trenching, airborne magnetic and radiometric surveys and 8,592 meters of drilling. There are currently 14 known target areas and large portions of the property are still unexplored.
In August 2018, White Gold encountered a near-surface high-grade gold mineralization along the Vertical trend on the JP Ross property. The Vertigo discovery had drill results of up to 23.4g/t gold and 145 g/t silver over a 24.3-meter intercept from surface, ending in mineralization, including 59.3 g/t gold and 388 g/t silver over 3.05 meters. The discovery’s grab samples also included 257 g/t gold and 293 g/t silver over a 1.1-kilometer strike length. The mineralization covers at least 10 individual mineralized zones over a 350-meter by 1,000-meter area that has similar geological features to the nearby Golden Saddle deposit. Some of the identified zones have been traced up to 400 meters along strike and remains open in all directions.
Strong mineralization was also identified along a 1.1-kilometer northwest trend that remains open in all directions. In Fall 2018, White Gold also staked an additional 717 claims adjacent to the west and south of the JP Ross property, securing the land position surrounding the Vertigo discovery.
The company’s 2019 exploration program includes 10,000 meters of diamond drilling at Vertigo to test the geometry of the target.
Black Hills is a large claim block comprised of 2,670 claims that covers significant placer gold bearing creeks. The property has three drill-ready targets and multiple, untested in-soil gold anomalies. Mineralization found at Black Hills is associated with strong quartz-sericite alteration, brecciation, quartz vein development along regional-scale fault zones. Prior exploration has left a large database comprised of soil and rock sampling, geologic mapping, airborne magnetic and radiometric surveys, trenching, and diamond core drilling.
The Brew property offers three linear in-soil gold anomalies along a 4.5-kilometer gold-molybdenum trend and values of up to 874 ppb gold have been recovered. The property displays similar structural and lithologic settings to that found on the adjacent White Gold property. The property will be drill-ready with some minor additional work.
The Pedlar property could potentially contain a copper-molybdenum porphyry system located 27 kilometers from Western Copper’s Casino project.
In March 2019, White Gold acquired the 16,335-hectare QV gold project from Comstock Metals. The property is contiguous to the company’s White Gold property and located 20 kilometers southwest of the Vertigo discovery. Shawn Ryan optioned the property to Comstock Metals in 2010.
Historical 2014 resource estimate
The VG zone deposit resides on the southern end of the property where the majority of the historical work has been completed. In 2014, Comstock Metals released a maiden resource estimate for the VG deposit. The report outlined an inferred resource of 4.4 million tonnes grading 1.65 g/t gold when using a 0.5 g/t gold cut-off.
The mineralization at the QV project occurs along a northeast-trending and south-dipping structural zone that has been traced for over 700 meters at the surface. The VG deposit is open along strike and at depth and shares similarities to the Golden Saddle deposit in terms of structural setting and mineralization style. Highlights from historical drilling at this location include 42 meters grading 2.23 g/t gold, 42.3 meters grading 1.76 g/t gold and 42.6 meters grading 1.36 g/t gold.
In 2017, six diamond drill holes were completed on the VG deposit and expanded the footprint of known mineralization. Significant results include 45.5 meters grading 1.42 g/t gold and 51.2 meters grading 1.48 g/t gold.
Additional work completed on the property includes soil sampling, GT probe sampling, IP resistivity surveys, airborne magnetic-radiometric surveys, geological mapping, prospecting and RAB drilling. The work has resulted in the discovery of three zones of interest: Stewart, Tetra and Shadow.
Large portions of the property still remain unexplored.
The Stewart zone is five kilometers north-northwest of the VG deposit and consists of a 1.5-kilometer east to west trending in-soil anomaly. The anomaly has returned values of up to 274.1 ppb gold and anomalous bismuth, silver, tellurium and molybdenum.
The Tetra zone is eight kilometers north of the VG deposit and consists of a 1.5-kilometer east to west trending in-soil anomaly. The anomaly has returned values of up to 151.1 ppb gold.
The Shadow zone is 12 kilometers north of the VG deposit and consists of multiple in-soil gold anomalies that have returned values of up to 514 ppb gold. The anomalies cover an area up to 2.7 kilometers long and are associated with a series of northwest and east-northeast trending structures. Strong anomalous values of silver, lead, bismuth, arsenic and molybdenum have been recovered from the area.
The 56,097-hectare Sixty Mile property is located 50 kilometers west of Dawson City, Yukon on the Sixty Mile River. The property is comprised of 2,827 claims and is accessible by road. The district that the property rests in is underexplored but has seen significant historical placer gold production of approximately 0.5 million ounces.
The district also features mineralization that is associated with the Sixty Mile-Pika (SMP) fault system and Cretaceous intrusions and offers the potential for structurally-controlled gold-silver and gold-copper skarns and a copper-gold-molybdenum porphyry-style mineralization.
The Cali target is a 2,500-meter by 250-meter gold soil anomaly associated with the northeast extension of the SMP fault. In-soil gold values range from trace to 284.2 ppb gold and are associated with anomalous gold-arsenic-bismuth-copper-lead. Historic rock grab samples from the property have returned values of up to 1.41 g/t gold and 0.55 percent copper.
The Nine target is an 850-meter by 500-meter in-soil gold anomaly with values that range from 525.7 ppb gold and is associated with anomalous gold-bismuth-lead-tellurium values. Historic grab samples from the property have returned grades up to 4.32 g/t gold.
Hart and Chant target
The Hart and Chant target has returned multiple in-soil gold anomalies over a four-kilometer trend along Hart Mountain Gold. In-soil anomalies are associated with anomalous silver-bismuth-tellurium and have returned values up to 645 ppb gold.
White Gold has uncovered at least seven new in-soil gold trends and has recovered values of up to 539 ppb gold. White Gold intends to further explore the property in upcoming work programs.
The 12,794-hectare Klondike property is comprised of 635 claims and is located 30 kilometers south of Dawson City, Yukon. The property resides in the historic Klondike goldfields and every claim block is accessible by road. The property offers the potential for structurally-controlled high-grade gold-bearing quartz veins and VMS-style gold-copper-silver mineralizations.
The Hunker block overlies the headwaters of five of the richest placer creeks in the Klondike goldfields. Prior exploration was focused on the King Zone, a 1,600-meter by 1,600-meter in-soil gold anomaly in the southern portion of the claim block. The northern part of the block has seen minor exploration despite known historic gold and copper-rich occurrences.
The IND block is a drill-ready targeted centered on an open two-kilometer by 500-meter anomaly associated with arsenic-bismuth-molybdenum and has returned values up to 1,273.7 ppb gold. Historic work on the block includes soil sampling, geological mapping, ground magnetic surveys, trenching and drilling. The mineralization has been associated with an east-to-west oriented zone of stockwork quartz veining and fracturing.
The 25,147-hectare Money property is comprised of 1,258 claims that border numerous historic mineral occurrences and placer gold bearing creeks. The property is accessible by airstrip, barge, road and helicopter and is approximately 70 kilometers southwest of Dawson City.
Mineralization on the property is primarily associated with the east to west oriented faults and associated plays that are similar to the structures found at the White Gold and Coffee deposits to the south. The property also offers the potential for intrusion-related gold or copper-gold porphyry-style mineralizations.
The Lira target is a 400-meter in-soil gold anomaly associated with an east to northeast oriented shear zone. Grab samples from the zones returned values up to 110 g/t gold and historic trench results include intercepts over 10 meters grading up to 13.3 g/t gold.
The Dime property is comprised of three large east-trending in soil arsenic-lead-antimony-gold values. In soil values have returned up to 6.1 g/t gold are associated with zones of silicification, brecciation, and quartz vein development along east to west structural corridors. Historic exploration highlights from the property include a 20-meter trench that graded 1.01 g/t gold and a 1.45-meter long drill hole that graded 8.32 g/t gold.
Coffee Trend East
The 43,822-hectare property is comprised of 2,196 claims that cover the eastern extension of Coffee Creek fault. The property is accessible by airstrip, barge and helicopter and is located immediately east of Newmont Goldcorp’s Coffee project and immediately northeast of Western Copper’s Casino project. It hosts eight known zones of mineralization and numerous untested targets.
Over $13 million has been spent on exploration by previous companies who established extensive geochemical and geophysical databases. The property can potentially host at least three styles of mineralization, including intrusion-related gold and both Coffee and White Gold-style structurally-controlled gold.
The White trend offers multiple zones of anomalous in-soil gold and has returned over 800 meters grading 1.96 g/t gold and has been associated with anomalous arsenic and antimony values. The anomalous zone is associated with pervasive sericite alteration along the second and third-order fault splays off the Coffee Creek fault and has a structure similar in setting, alteration and geochemistry to the adjacent Coffee deposit.
The Mascot trend is a northeast oriented three-kilometer by one-kilometer trend of anomalous gold-silver-arsenic-bismuth-lead-antimony-zinc in soil anomalies that have returned values of up to 7.3 ppm gold. Historic drilling highlights from the Mascot trend include 13.7 meters grading 701 g/t gold and 209 g/t silver, 3.1 meters grading 29.8 g/t gold and 21.3 meters grading 1.5 g/t gold.
The Betty property is located along the extension of the Coffee Creek fault and has returned soil assay results of up to 7,288 ppb gold. Recent drilling at Betty resulted in the discovery of near-surface gold mineralization along the eastern extension of the Coffee Creek fault. The Betty Ford target returned 50.29 meters grading 1.08 g/t gold, including 9.41 meters grading 2.24 g/t gold. White gold was able to intersect mineralization in every hole at the Betty White target and recovered values of up to 3.61 g/t gold.
The Hayes property has offered up three new gold-arsenic soil anomalies along the eastern extension of the Coffee Creek fault and has similar mineralization to the Coffee deposit. Results of up to 330 ppb gold have been recovered from the property.
Coffee Trend West
The Coffee Trend West property is comprised of three claim blocks that are located 110 kilometers southwest of Dawson City, Yukon. The total land package of the property totals 13,247 hectares and consists of 666 claims. White Gold is focused primarily on the early-stage Wolf and Line blocks. The blocks are located west of the Coffee project, but have the potential to offer structurally-controlled gold and intrusion-related gold-silver-copper-molybdenum mineralizations.
The Wolf block features a 4.8-kilometer by 500-meter wide in-soil gold anomaly that has returned values of trace amounts to 357.8 ppb gold that has been associated with strongly altered felsic and mafic volcanic units that offer anomalous gold-arsenic-bismuth-copper-molybdenum values.
The Line block property overlies the northern portion of the Moosehorn placer district and offers multiple in-soil gold anomalies with values that range from trace to 569 ppb gold.
The Carlisle property is directly adjacent to the Coffee project. The property has similar mineralization styles as the Coffee deposit and has returned up to 285 ppb gold.
The 10,214-hectare Beaver Creek property is comprised of 505 underexplored claims that offer significant exploration opportunities. The property is 45 kilometers northeast of Beaver Creek, Yukon and is located near to BCGold’s Wels property, which has returned 45 meters of 8.8 g/t gold from a 2014 trenching program and intersects of 19.5 meters grading 3.3 g/t gold.
White Gold believes that there is the potential for a structurally-controlled and intrusion-related gold mineralization to be found at the Beaver Creek property. The property is accessible by helicopter and is comprised of two claim blocks: Pilot and Wells.
The Pilot block is comprised of an east to west oriented 1.1-kilometer by 500-meter trend of anomalous gold. Soil samples have returned trace amounts to 193 ppb gold with anomalous values of antimony and arsenic. The trend covers the headwaters of the historic placer producing Beaver Creek and the northern portion of the property has not been explored.
The Wells block is located immediately north of BCGold’s Wels property. Minor exploration has been conducted on the property and primarily consists of ridge and spur-style soil reconnaissance work. Results from the soil samples collected consists of strong anomalous arsenic, antimony and gold values that range from trace amounts to 1,698 ppb gold.
White Gold Management Team
Shawn Ryan — Chief Technical Advisor
Shawn Ryan has over 30 years of experience in prospecting for gold in the Yukon. His work in the Yukon has led to the discovery of the White Gold, Coffee and QV project. He is the founder and technical advisor of GroundTruth Exploration and is the founder of RyanWood Exploration, the company that started the second gold rush in the Yukon in 2009. Ryan has also been the recipient of the Yukon Chamber of Miner Prospector of the Year Award in 1998, the 2010 Spud Huestis Award and the 2011 PDAC Prospector of the Year Award.
David D’Onofrio — CEO
David D’Onofrio has over 10 years of experience financing and advising resource companies globally. Deep capital markets expertise with a track record of success.
Terry Brace, P.Geo. — VP Exploration
Terry brings over 25 years of diversified experience in the mineral exploration and mining industry, covering exploration, environmental management, project permitting, human resources management and community relations. Terry has held senior positions with major, mid-tier and junior companies including Teck Resources, Noranda, Pan American Silver, Cornerstone Resources and Thundermin Resources. During that time, Terry worked on and managed projects in several regions of Canada and in Latin America, with a focus on precious and base metals in a wide range of deposit types. From 2008 through 2013 he served as Vice President Exploration for Cornerstone Resources and most recently as Senior Exploration Geologist with Pan American Silver in Timmins, Ontario.
Mr. Brace holds a Master of Science degree and a Bachelor of Science degree in earth sciences (geology) from Memorial University of Newfoundland and a diploma in human resources management from McMaster University. Terry is a registered professional geoscientist (P.Geo.) in the provinces of Ontario and Newfoundland and Labrador.
Robert Carpenter, P.Geo. — Director
Robert Carpenter has 25 years of experience as a mining company executive and professional geologist. He founded Kaminak Gold Corporation where he was the President and CEO for seven years. Carpenter took the company public and was responsible for a three-million-ounce discovery on the Coffee project before the company was acquired by Goldcorp Inc for over $530M. He is the recipient of the 2010 Huestis Award for Excellence in Prospecting and Mineral Excellence. He has a Ph.D. from Western University.
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