A Prospector’s Playground: Discoveries Rejuvenating Yukon’s White Gold District

Few mining districts hold the same kind of mystique as the Yukon’s White Gold district.

Even those with little knowledge of the area’s mining history know about the Klondike gold rush and how the wealth generated from that event helped to build a nation. The gold rush might have ended over a century ago, but the White Gold district never stopped being a highly-hospitable and rewarding center for the mining industry. In the 21st century, the White Gold district has continued to see new discoveries of gold,silver and other valuable resources. 

After a downturn in recent years, gold prices have since rallied to historic highs in the second and third quarters of 2020. Moving forward, exploration and development in gold mining regions like the White Gold district could be further driven by the rising gold prices as projects come into economic viability. According to Chantelle Schieven, head of research at Murenbeeld & Co., the US dollar is expected to hit a downturn as global political tensions trigger a slowdown in economic growth. If such a downturn indeed occurs, gold values could continue to rise.

Past discoveries in the White Gold district

Situated in the Klondike region of the Yukon’s Dawson Range, the White Gold district hosts a good portion of the mineral wealth that has put the Yukon on the map. The first major discovery took place in the summer of 1896 when a Tagish First Nation prospector called Skookum Jim Mason discovered gold in what came to be known as Bonanza Creek. Over the next four years, news of that discovery attracted as many as 100,000 prospectors to the Yukon hoping for similar fortune. While only a few individuals ultimately struck it rich during those years, the Klondike gold rush cemented the Yukon and the White Gold district in particular as the home of nearly unmatched mineral wealth that lay the foundation for a thriving Yukon resource exploration and production industry.

Discoveries made in recent years have maintained the White Gold district’s reputation as a world-class mining destination. Famed prospector Shawn Ryan shook the mining world in the early 2010s with a series of major discoveries in the White Gold district including some of the highest-grade gold ever found. These discoveries included Kaminak’s Coffee Gold deposit which was purchased by Goldcorp in 2016 for $520 million. The deposit, which is now owned by Newmont (TSX:NGT,NYSE:NEM), contains a measured and indicated 2,170,000 ounces of gold.

The Golden Saddle & Arc resource is another noteworthy discovery made by Ryan. In 2010, Kinross Gold purchased Golden Saddle & Arc from Underworld Resources for $139 million. The project is now owned by White Gold (TSXV:WGO,OTC Pink:WHGOF,FWB:29W). Since its discovery, the Golden Saddle & Arc resource has grown to 1,039,600 ounces of gold in the indicated category and 508,700 ounces of gold in the inferred category. These discoveries, along with others, have reinvigorated interest in the Yukon by investors as well as major mining firms. Ryan’s discoveries have helped to kick off what some have described as a modern Klondike gold rush with millions of ounces of gold recently discovered in the White Gold district since 2007.

Most recently, some of the most interesting gold discoveries in the White Gold district have been found by White Gold via the use of its proprietary “drones-to-drills” exploration methodology, which was developed by Shawn himself. In addition to the company’s flagship Golden Saddle & Arc resource, White Gold has produced noteworthy soil sampling and drill results in the district in the past three years including Ryan’s Surprise target, the Titan target, the JP Ross property, the GS West target, the Betty property and the Bonanza property. 

Active investment in the White Gold district

From the very beginning of gold exploration in the Yukon, miners have been drawn to the White Gold district due to high amounts of placer gold within the territory’s rivers and streams. To date, approximately 20 million ounces of placer gold have been discovered, yet the original source of this gold remains unknown. Major gold companies including Kinross Gold and Agnico Eagle Mines (TSX:AEM,NYSE:AEM) have taken interest in the region, making a series of investments in White Gold that resulted in each company now owning 17.1 percent interests respectively in White Gold.

White Gold holds the largest land package in the mining district from which the company derives its name, controlling more than 40 percent of the land in the region with a claim portfolio of over 420,000 hectares. In addition to the existing resources of the company, White Gold’s proprietary exploration strategy and experienced management team continue to produce multiple high-grade gold discoveries.

On June 29, 2020, White Gold commenced a fully funded exploration program that has been designed to further test existing targets and recent high-grade discoveries on the company’s White Gold, Hen, and JP Ross properties as well as to identify and advance other targets on its extensive regional land package. This exploration program was financed through a $6M private placement which included the participation of Eric Sprott as a new investor, along with Kinross and Agnico Eagle. “We are very grateful for the continued support of our major shareholders and excited to welcome Eric Sprott as a new shareholder. We look forward to our upcoming 2020 field season where we will follow up on some exciting new discoveries and look to continue to increase our existing mineral resources,” said David D’Onofrio, Chief Executive Officer.

Takeaway

The White Gold mining district of the Yukon continues to be a hotbed of exploration activity. The discoveries of the early 2010s and beyond have already proven to be valuable assets, sparking additional exploration activity. Companies capable of leveraging modern exploration techniques could be greatly positioned to reveal new discoveries in one of the most historically productive and under-explored gold districts in the world.

This INNSpired article is sponsored by White Gold (TSXV:WGO,OTC Pink:WHGOF,FWB:29W). This INNSpired article 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 INNSpired article.

This INNSpired article was written according to INN editorial standards to educate investors.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services, or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with White Gold and seek advice from a qualified investment advisor.