chip assay

White Metal Reports 45 Metres Grading 2.02% Cu and 33 g/t Ag from Second Set of RC Drill Hole Results, Taranis Copper-Silver Project, Namibia

White Metal Resources Corp. (TSXV: WHM) ("White Metal" or the "Company") is pleased report that it has received the second batch of assay results from an additional 7 reverse circulation ("RC") drill holes from its January-February 2021 drilling program (28 drill holes totalling 3,226 m) (Table 1). The Company previously announced results from the first batch of 6 RC drill hole results and the re-sampling of core from four historical diamond drill holes (see Company news release dated March 23, 2021). All drill holes from the current program targeted the historical Okohongo Cu-Ag Deposit ("Okohongo"). The 95% owned Taranis Copper-Silver Project (the "Project" or "Property"), which includes the historical Okohongo Copper-Silver Deposit, is located in northwestern Namibia and is defined by Exclusive Prospecting Licence ("EPL") 7071, covering about 19,850 hectares.

Michael Stares, President & CEO of the Company stated, "The results from the RC drilling program has again confirmed that the historical RC drill holes do contain significant copper grades and gives us further confidence that the Okohongo Cu-Ag Deposit is a great asset to have in the Company's portfolio. With these latest assay results, we will continue to look for the right partner to advance this project. With the demand for copper and silver rising I think this will bring even further value to the Taranis Property. In the meantime, the Company will remain focused on its flagship property, the Tower Stock Gold Property, located in northwestern Ontario, Canada."

Table 1. RC chip sample assays from the second set of drill holes, Okohongo Cu-Ag Deposit, Namibia.

Type/
Historical Hole
Drill HoleFrom (m)To (m)Int. (m)Cu (%)Ag (g/t)Pb (ppm)Zn (ppm)
New RC Drilling/
INVR-035
OK20-P07175.00183.008.000.7714260183
incl.178.00182.004.001.2220263168
incl.180.00181.001.002.3934546183
New RC Drilling/
INVR-007
OK20-P0672.0075.003.000.3291953
and80.0085.005.000.60121360
incl.82.0083.001.001.98471079
New RC Drilling/
INVR-072
OK20-P08no significant assays
New RC Drilling/
INVR-006
OK20-P0521.0066.0045.002.023351191
incl.23.0035.0012.002.2018120271
incl.26.0035.009.002.4623140962
incl.30.0033.003.003.644632941
incl.36.0040.004.002.384332276
incl.41.0044.003.003.609129192
incl.42.0044.002.004.2511423675
incl.45.0052.007.002.274431393
incl.54.0065.0011.002.2039137112
New RC Drilling/
INVR-037
OK20-P01212.0051.0039.000.58531550
incl.37.0049.0012.001.6814748114
and78.0087.009.000.601021111
incl.84.0085.001.001.43297124
New RC Drilling/
INVR-009
OK20-P01154.0058.004.000.335140183
New RC Drilling/
INVR-017
OK20-P02342.0057.0015.000.7185086
incl.44.0045.001.002.351518657
incl.51.0056.005.001.411718113

 

The recently completed RC drilling program (OK20-P series holes) on the Property was aimed at twinning, as close as possible and as reflected in Table 1, many of the RC drill holes that were used to calculate the 2011 historical mineral resource estimate (Table 2).

Once the Company receives all the results from the recently completed drilling program it will begin the process of updating the historical mineral resources from the Okohongo Cu-Ag Deposit to a current National Instrument 43-101 ("NI 43-101") mineral resource estimate and technical report.

The Taranis Copper-Silver Project, located in a very prospective area of northwestern Namibia. Although the primary target is the historical Okohongo Copper-Silver Deposit, the Company will be conducting reconnaissance work over the entire EPL, including follow up on a number of historical copper showings.

The historical Okohongo Cu-Ag Deposit has been outlined by historical drilling which shows that it extends for 600+ metres in strike length, 400 metres down-dip, and is open in all directions (see INV Metals news release dated August 3, 2011). The Okohongo, situated within the Kaoko Belt of northwest Namibia about 700 km northwest of Windhoek, is hosted by metasedimentary stratigraphy and is considered to be analogous with the stratiform sediment-hosted Central African Copperbelt deposits of Zambia and the Democratic Republic of the Congo. This deposit contains historical Inferred Mineral Resources of 10.2 million tonnes grading 1.12% Cu and 17.75 g/t Ag, using a 0.3% Cu cut-off (Table 2; INV Metals Inc. NI 43-101 Technical Report, Effective Date March 31, 2011).

Table 2. Historical Mineral Resources for the Okohongo Copper-Silver Project, Namibia.

Cut-offSpecific GravityTonnesCu (%)Ag (g/t)Cu (tonnes)Ag (ounces)Category
0.02.45 11,691,539 1.0115.85 117,645 5,957,874 Inferred
0.12.45 11,682,796 1.0115.86 117,640 5,957,640 Inferred
0.22.45 11,453,414 1.0216.13 117,219 5,940,047 Inferred
0.32.45 10,196,456 1.1217.75 114,046 5,818,534 Inferred
0.42.45 9,535,538 1.1718.66 111,731 5,719,226 Inferred
0.52.45 8,705,239 1.2419.73 107,993 5,522,454 Inferred
0.62.45 8,142,684 1.2920.50 104,877 5,366,572 Inferred
0.72.45 7,366,110 1.3521.61 99,810 5,116,714 Inferred
0.82.45 6,379,793 1.4523.16 92,402 4,750,190 Inferred

 

Source: NI 43-101 Technical Report on the Okohongo Copper-Silver Property in Northwest Namibia, INV Metals Inc.; Prepared By: Caracle Creek International Consulting (Pty) Ltd., South Africa, Effective March 31, 2011.

The Company is treating the tonnages and grades reported in Table 2 as historical mineral resources. The Inferred Mineral Resource estimate reported in Table 2 for the Okohongo Copper-Silver Deposit was prepared by qualified authors in 2011, conforming to CIM Definition Standards on Mineral Resources and Mineral Reserves as outlined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. A Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources and the Company is not treating the historical estimates as current mineral resources. Investors are cautioned that the historical estimates do not mean or imply that economic deposits exist on the properties. The Company has not undertaken any independent investigation of the historical estimates or other information contained in this news release nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information. The Company believes that these historical estimates and other information contained in this news release are relevant to continuing exploration on the Property.

Sample Analysis

Drill core and RC chip samples were sent to the Activation Laboratories Ltd. ("Actlabs") preparation lab in Windhoek, Namibia and once prepared were sent to Actlabs in Ancaster, Ontario, Canada for analyses. The samples were first analysed with 4-Acid "Near Total" Digestion (1F2) with ICP-OES finish for Ag, Cu and a suite of 33 other elements. Subsequently, samples with Ag greater than 100 ppm (above Ag upper detection limit) were analysed with Fire Assay Gravimetric (8-Ag) and Cu greater than 10,000 ppm (above Cu upper detection limit) were analysed with sodium peroxide fusion with ICP-OES finish (8-Peroxide ICP). A Quality Control/Quality Assurance ("QA/QC") program consisting of the regular insertion of Certified Reference Material copper standards and blanks into the sample stream by the Company was in place as was the industry standard internal QA/QC practices used by Actlabs.

Qualified Person

Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Exploration and a Director of White Metal, who is a Qualified Person under the definitions established by the NI 43-101.

About White Metal Resources Corp (TSX-V: WHM):

White Metal Resources Corp is a junior exploration company exploring in Canada and southern Africa. For more information about the Company please visit www.whitemetalres.com.

On behalf of the Board of Directors of White Metal Resources Corp.

"Michael Stares"
President & CEO, Director

For further information contact:

Michael Stares
President & CEO, Director
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 358-2420

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79810

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finlay minerals ltd. (TSXV: FYL) (OTCQB: FYMNF) ("Finlay" or the "Company") is pleased to announce the staking of 9 mineral claims covering 15,453 hectares (approximately 154 km²) in the northern Bear Lake Corridor of British Columbia . The JJB Property is named in honour of Finlay's Founder, John J. Barakso who was an early advocate for the potential of the Bear Creek Corridor.

Figure 1. New JJB Property location and expanded SAY Property boundary. (CNW Group/Finlay Minerals Ltd.)

JJB PROPERTY:

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Details on the JJB Property can be found in the JJB Property Technical Presentation and in the Properties section of the Company website at www.finlayminerals.com .

SAY PROPERTY:

Lying 4 km south of Finlay's new JJB Property, work continues on the SAY Property, which has recently been expanded with additional staking to the north and south. The SAY Property now totals 26,202 hectares. The SAY Property was acquired in 2024, and an inaugural field program focused on chip sampling and mapping along the 4.3-kilometer-long SPUR Trend. This led to the discovery of the AG Zone and confirmed the continuity of high-grade Cu-Ag mineralization in the East Breccia Zone.

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In 2025, exploration work at the SAY will aim to expand the mineralized footprint of the SPUR and SHEL targets through geological mapping, soil sampling, and an airborne magnetic survey.

Details on the SAY Property, can be found in the SAY Property Technical Presentation and in the Properties section of the Company website at www.finlayminerals.com .

References:

*

Refer to finlay minerals ltd. News Release # 11-24 dated October 3, 2024 entitled: " Finlay Minerals has completed its Inaugural Field Program at the High-Grade Copper-Silver SAY Property " available on SEDAR at www.sedarplus.ca.

Qualified Person:

Wade Barnes , P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

About finlay minerals ltd.

Finlay is a TSXV company focused on exploration for base and precious metal deposits with five 100%-owned and operated properties in northern British Columbia . In addition to the JJB & SAY Properties, the Company holds the:

  • PIL Property , which covers 13,374 ha in the heart of the Toodoggone region, has numerous porphyry Cu-Au ± Ag targets and associated epithermal Au-Ag mineralization. Exploration on the PIL Property is fully funded for 2025 with the signing of an Earn-In-Agreement with Freeport-McMoRan (Refer to news release FYL NR03-25 entitled: "Finlay Minerals Enters into Earn-In Agreements with Freeport for its PIL & ATTY Properties ". ) The PIL is neighboured by Amarc Resources and Freeport-McMoRan's joint venture JOY Project and TDG Gold Corporation's Shasta/Baker and Sofia Properties. The PIL Property is also 25 km northwest of Centerra Gold's past-producing Kemess South Mine and 15 km east of Thesis Gold's Lawyers Project.

  • ATTY Property covers 3,875 ha of sub-alpine terrain in the southern Toodoggone region. Exploration on the ATTY Property is also full-funded for 2025 with the signing of an Earn-In-Agreement with Freeport-McMoRan in April 2025.The Toodoggone is a northwest-trending belt of Triassic to Jurassic arc terranes that hosts numerous significant porphyry Cu-Au ± Ag and associated epithermal Au-Ag deposits. The ATTY Property is in between and contiguous to Centerra Gold's Kemess Project and the joint-venture JOY Project held by Amarc Resources and Freeport-McMoRan. The ATTY Property KEM target has similarities to the Kemess North Trend, which hosts the Kemess Underground and Kemess East deposits.

  • Silver Hope Property covers 21,322 ha and surrounds the past-producing Equity Silver Mine in the prospective Skeena Arch region of central B.C. The Silver Hope contains the Main Trend which is a >2 km Cu-Ag-Au mineralized trend with mineralization starting at surface.  West of the Main Trend is the West Cu-Mo Porphyry which is also mineralized starting from surface. The Property hosts a network of forestry roads and trails and has all-year access from Houston, BC .

Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at www.finlayminerals.com

On behalf of the Board of Directors,

Robert F. Brown
President, CEO & Director

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements.  Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the JJB and SAY Properties. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.

SOURCE finlay minerals ltd.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2025/23/c5360.html

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