White Rock identifies new drill targets at Red Mountain
Last updated 10/2/2016 at Noon
White Rock Minerals Ltd. Sept. 13 said it has identified a number of high-priority volcanogenic massive sulfide targets at its expanded Red Mountain project in the Bonnifield District of central Alaska.
In addition to extending the known zinc-silver-lead-gold deposits at Dry Creek and West Tundra Flats, White Rock said there is significant potential to discover several new metals-enriched VMS deposits at Red Mountain.
Jim Franklin, a recognized global VMS expert, completed an assessment of surface geochemical data recently compiled by White Rock.
The study aimed to use modern vector analysis to identify new exploration targets from old data.
Using the known deposits at Dry Creek and West Tundra Flats to calibrate his assessment of regional data, Franklin prioritized the Dry Creek West, ReRun, West Tundra Flats, Smog and Glacier target areas as highly prospective for additional VMS deposits.
Condor Consulting Inc. completed a detailed interpretation of an electro-magnetic and magnetic survey flown by the Alaska Division of Geological and Geophysical Surveys in 2007.
Also using the Dry Creek and West Tundra Flats deposits to calibrate the data, Condor identified a number of high-priority conductors with the potential of being caused by massive sulfide mineralization.
The highest priority conductors are located within the identified geochemical target areas.
White Mountain said the two studies have provided a pipeline of targets for follow-up field assessment.
The highest priority conductivity anomalies will be advanced through field programs of surface geochemical sampling and ground geophysics to define drill targets for the coming field season.
White Rock CEO Matt Gill said, "The two studies underpin our belief that the Red Mountain project could be home to a new camp of high-grade zinc-silver-gold VMS deposits.
Of the 30 conductors associated with geochemical anomalism, White Rock will aim to prioritize five of the best conductors for a campaign of follow-up field work that will culminate in drilling to test the best of these targets in addition to confirming the existing deposits at Dry Creek and West Tundra Flats." On Sept. 28, the company reported plans to raise up to AU$5.74 million.
These funds will be used to complete a feasibility study and environmental impact statement for its Mt. Carrington gold-silver project in Australia and exploration at Red Mountain.