High-Grade Mineralization At The Golden Saddle Deposit

TORONTO - White Gold Corp. reported on its fully funded $13 million 2019 exploration program, announcing initial diamond drilling results on its recent high-grade Vertigo discovery and on its flagship Golden Saddle deposit, located in the prolific White Gold District in Yukon, Canada. This first phase of diamond drilling was designed to test the geometry of the Vertigo target and previously under explored portions of the Golden Saddle deposit and surrounding area. The ongoing 2019 exploration program backed by partners Agnico Eagle Mines Limited and Kinross Gold Corp includes diamond drilling on the Vertigo target (JP Ross property), Golden Saddle & Arc deposits (White Gold property) as well as soil sampling, prospecting, GT Probe sampling , trenching and RAB/RC drilling on various other properties across the Company’s expansive land package.

Highlights Include: Initial assays from the 2019 drill program present strong first diamond drill results on the Vertigo target and are among the best results to date at the Golden Saddle deposit; All Vertigo diamond drill holes to date intersected gold mineralization and have identified a minimum of 6 high-grade mineralized structures. Each structure displays strong continuity from surface to over 250m down-dip and remains open in all directions; Diamond drilling on the Golden Saddle locally extended the GS Main zone 205m down dip from historic drilling, approximately doubling the down dip extension in the area which previously only extended to 165m; added additional mineralization above the previously modeled ore body; and infilled several strategic gaps in the resource model. Diamond drilling on the GS West successfully proved continuity of the deposit both along strike and down dip, expanding the modeled mineralization beyond the envelope included in the Company’s 2019 mineral resource estimate; Golden Saddle: Hole WHTGS19D0198 returned 3.59 g/t Au over 68.0m from 73m depth, including 8.11 g/t Au over 13.6m from 77m depth, and 2.31 g/t Au over 10.56m at 179m depth. Hole WHTGS19D0212 returned 4.85 g/t Au over 27.5m from 38m depth, including 6.58 g/t Au over 9.0m from 51m depth. 

Vertigo: Hole JPRVER19D0015 returned 0.42m of 141 g/t Au within a broader envelope of mineralization that averaged 11.64 g/t Au over 5.34m from 3m depth and 18.46 g/t Au over 2.48m from 92m depth. Hole JPRVER19D0005 returned 9.61 g/t Au over 4.15m from 20m depth, including 94.2 g/t Au over 0.32m from 21m depth. Hole JPRVER19D006 returned 6.89 g/t Au over 1.22m from 4.66 depth, and 20.15 g/t Au over 1.75m from 104.5m depth.

Additional exploration activity continues across the White Gold, JP Ross and multiple other regional properties, with related soil sampling, prospecting, GT Probe sampling, trenching and RAB/RC drilling results to be released in due course.

“We are very pleased with the initial results from our ongoing diamond drill program. At the Vertigo we have confirmed the existence of multiple structures with high-grade gold mineralization that display strong continuity along strike and at depth. These results are very encouraging for an initial diamond drill program and validate our current interpretation for the Vertigo. We look forward to receiving additional results from the Vertigo drill program and from ongoing exploration work on additional targets across the JP Ross property,” said Jodie Gibson, VP Exploration. “The initial results at Golden Saddle are among the best holes drilled to date and significantly expand the high-grade mineralization within and beyond the current Golden Saddle resource boundary. This is all alongside our regional exploration program, which continues to generate a strong pipeline of exciting new targets further demonstrating the district scale opportunity across our unique portfolio of assets.”

The Golden Saddle, including the GS Main, GS Footwall and GS West zones, consists of a series of subparallel zones trending NE-SW and dipping to the NW at approximately 55 degrees with mineralization occurring along faults, fractures and breccia zones in an overall normal to strike-slip structural regime. Together, the zones define mineralization over 1,500m strike length and up to 725m down dip. This includes a continuous high-grade core of mineralization >3 g/t Au on the GS Main that is up to 50m true-thickness and traceable over 500m of strike length and from surface up to 530m down-dip.

Results have been received for 4 infill holes in the central portion of the deposit targeting significant gaps in the resource model on the GS Main zone. The results of the holes received to date show strong potential to refine and add additional tonnage to the existing resource model through strategic infill drilling on the Golden Saddle. Additionally, one step-out hole was drilled on the northwestern margin of the deposit.