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White Metal Resources Corp. (TSXV: WHM) (FSE: CGK1) (OTC Pink: TNMLF) ("White Metal" or the "Company") is pleased to provide an update regarding its recently initiated exploration program in the region north of the Okohongo Cu-Ag Deposit (see Company news release dated 1 June 2021).
The Company is currently undertaking prospecting, geological mapping, grab sampling, and surface trenching and sampling programs along the prospective +7 km sedimentary-hosted copper horizon, which extends northward from the Okohongo Cu-Ag Deposit. This prospective horizon, colloquially known as the "Okohongo Horizon" occurs within the Lower Omao Formation (limestone, siltstone, dolomite), which is stratigraphically above the Nosib Group (sandstone, shale, conglomerate).
Michael Stares, President & CEO of the Company, stated, "These very high copper concentrations and strong silver assays confirm the significance of the Epunguwe area. This target area, being more than 5 direct kilometres north of the Okohongo Cu-Ag Deposit gives me further confidence in the prospectivity of this region of the Property. White Metal remains focussed on progressing the Tower Stock Gold Property in Ontario, Canada, but we will certainly continue to advance the Okohongo Copper-Silver Property as one of our primary assets."
A total of 56 rock grab samples were collected from the Epunguwe Target Area and Okohongo North Showing during recent geological mapping. The Epunguwe Target Area ("Epunguwe") is located about 4.3 km north of the Okohongo Cu-Ag Deposit and covers a minimum northwest strike length of 800 metres. The Okohongo North Showing is located about 2.7 km north of the Okohongo Cu-Ag Deposit. Assay results for the first 20 rock grab samples are summarized in Table 1.
Table 1. Summary of rock grab samples collected from the Epunguwe and Okohongo North areas.
| Sample | Location | Description | UTMX | UTMY | Cu (ppm) | Cu (%) | Ag (ppm) | Pb (ppm) | Pb (%) |
| U4968 | Epunguwe | Qtz Vein | 376911 | 7946389 | 11200 | 1.12 | 5 | 1300 | 0.13 |
| U4969 | Epunguwe | Gossanous Qtz vein | 376911 | 7946389 | 62500 | 6.25 | 20 | 2140 | 0.21 |
| U4970 | Epunguwe | Gossanous Qtz vein | 376911 | 7946389 | 55000 | 5.50 | 10 | 1880 | 0.19 |
| U4971 | Epunguwe | Gossanous Qtz vein | 376911 | 7946389 | 54300 | 5.43 | 35 | 340 | 0.03 |
| U4972 | Epunguwe | Fine grained sed - Sandstone | 376911 | 7946389 | 56000 | 5.60 | 65 | 540 | 0.05 |
| U4973 | Epunguwe | Fine grained sed - Sandstone | 376911 | 7946389 | 51300 | 5.13 | 65 | 130 | 0.01 |
| U4974 | Epunguwe | Fine grained sed - Sandstone | 376911 | 7946389 | 46000 | 4.60 | 28 | 110 | 0.01 |
| U4975 | Epunguwe | Fine grained sed - Sandstone | 376911 | 7946389 | 50100 | 5.01 | 53 | 110 | 0.01 |
| U4976 | Epunguwe | Qtz Vein | 376911 | 7946389 | 14700 | 1.47 | 5 | 170 | 0.02 |
| U4977 | Epunguwe | Fine grained sed - Sandstone | 376911 | 7946389 | 125000 | 12.50 | 50 | 200000 | 20.00 |
| U4978 | Okohongo North | Fine grained sed - Sandstone | 378251 | 7944841 | 22100 | 2.21 | 6 | 1080 | 0.11 |
| U4979 | Okohongo North | Fine grained sed - Sandstone | 378251 | 7944841 | 318000 | 31.80 | 1 | 150500 | 15.05 |
| U4980 | Okohongo North | Qtz Vein | 378251 | 7944841 | 143500 | 14.35 | 6 | 186000 | 18.60 |
| U4981 | Okohongo North | Qtz Vein | 378251 | 7944841 | 50100 | 5.01 | 4 | 74000 | 7.40 |
| U4982 | Okohongo North | Dolomite | 378251 | 7944841 | 21100 | 2.11 | 39 | 1410 | 0.14 |
| U4983 | Epunguwe | Fine grained sed - Sandstone | 376935 | 7946333 | 80400 | 8.04 | 46 | 1280 | 0.13 |
| U4984 | Epunguwe | Qtz Vein | 376901 | 7946372 | 14100 | 1.41 | 7 | 510 | 0.05 |
| U4985 | Epunguwe | Fine grained sed - Sandstone | 376901 | 7946372 | 29900 | 2.99 | 7 | 180 | 0.02 |
| U4986 | Epunguwe | Fine grained sed - Sandstone | 376901 | 7946372 | 45700 | 4.57 | 13 | 220 | 0.02 |
| U4987 | Epunguwe | Gossanous Qtz vein | 376901 | 7946372 | 233000 | 23.30 | 58 | 2580 | 0.26 |
*WGS84 Z33S
The Company also completed 10 east-west and northeast-trending trenches (EPT001 to EPT010) targeting the contact horizon between the Lower Omao Formation (east) and Nosib Group (west) and exposing sediment-hosted copper mineralization. A total of 28 rock grab samples from the trenching program have been submitted for analysis.
Historical reporting describes the Epunguwe Target Area as a northwest trending, roughly three kilometre by half kilometre area of soil geochemical anomalies, as well as copper mineralization exposed at surface, in trenches, and in drill holes (Table 2), occurring along a significant syn-sedimentary, basinal growth fault.
Table 2. Summary of historical drilling results from the Epunguwe Target Area, EPL 7071, Namibia.
| *Drill Hole | From (m) | To (m) | **Interval (m) | Cu (%) | Ag (g/t) | Length (m) |
| TCD-019 | 19.00 | 41.60 | 22.60 | 0.34 | 3.2 | 65.10 |
| incl. | 19.90 | 31.40 | 11.50 | 0.49 | 4.7 | |
| And | 55.80 | 65.10 | 9.30 | 1.64 | 122.6 | |
| incl. | 55.80 | 61.80 | 6.00 | 2.23 | 171.4 | |
| TCD-021 | 10.00 | 42.00 | 32.00 | 0.14 | 2.0 | 81.34 |
| incl. | 22.00 | 26.60 | 4.60 | 0.37 | 5.4 | |
| And | 59.90 | 78.20 | 18.30 | 0.72 | 13.6 | |
| incl. | 61.00 | 65.30 | 4.30 | 1.84 | 37.9 | |
| TCD-023 | 107.30 | 123.50 | 16.20 | 0.35 | 175.80 | |
| incl. | 107.30 | 108.30 | 1.00 | 1.89 | 17.1 | |
| TCP-002 | 0.00 | 27.00 | 27.00 | 1.47 | 11.7 | 45.00 |
| incl. | 0.00 | 21.00 | 21.00 | 1.76 | 14.1 | |
| incl. | 0.00 | 8.00 | 8.00 | 2.80 | 18.9 | |
| KAP-130 | 0.00 | 20.00 | 20.00 | 0.94 | 14.1 | 75.00 |
| incl. | 1.00 | 9.00 | 8.00 | 1.58 | 30.0 |
*TCD = diamond; TCP = percussion; KAP = percussion
**drill hole intervals are not considered true widths and are being treated as core lengths.
Mineralization is described as structurally-controlled and hosted by conglomerates (sandstones) of the basal Nosib Group at or near the contact with overlying Ombombo Subgroup rocks; Lower Omao Formation siltstone and Lower Omao Formation dolostone also host mineralization (INV Metals Inc. Report, March 21, 2012, filed on SEDAR). To the Company's knowledge, no work has been completed in this area since 2012.
A more detailed description of the new areas of copper exploration can be viewed on the Company's website (https://www.whitemetalres.com/taranis-okohongo-cu-ag.html).
A qualified person has not done sufficient enough work to verify the historical assay results and technical information reported herein. Rock grab samples are selective samples by nature and as such are not necessarily representative of mineralization hosted across the Property.
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:
White Metal Resources Corp. is a junior exploration company exploring in Canada and southern Africa. The company's two key properties are the Flagship Tower Stock Gold Project in Thunder Bay, Ontario, Canada and the Okohongo Copper-Silver Project in Namibia, Africa. For more information about the Company please visit www.whitemetalres.com.
On behalf of the Board of Directors
"Michael Stares"
President & CEO
For further information contact:
Michael Stares
President & CEO
White Metal Resources Corp.
Phone: +1 (807) 358-2420
Nancy Massicotte
Investor Relations
White Metal Resources Corp.
Phone: +1 (604) 507-3377
TF: +1 (866) 503-3377
ir@whitemetalres.com
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/88982
Figure 1. Grey-scale magnetics overlain by airborne gravity data showing RC, AC and diamond drillhole collar locations and JORC Exploration Target areas.
Figure 2. RC and AC drill hole collar locations within the Thomas Prospect priority area.
Figure 2. Pitfield Project Location showing theMid-West Region Infrastructure and Services
Figure 1 Highway Reward Copper Gold Mine: Located 37 km south of Charters Towers within the Mount Windsor Volcanic Belt. Accessible via an all-weather highway, 172 km from the Port of Townsville, Queensland, Australia.
Graph 1: Highway Reward Copper Gold Mine - mining ceased in July 2005: 28 Years of Commodity Growth