Drills extend Red Mountain's Dry Creek
Last updated 9/27/2018 at 1:30pm
White Rock Minerals Ltd. Sept. 24 said the latest batch of results from drilling shows significant expansions to the Dry Creek zinc-lead-silver-gold deposit at its Red Mountain project in Alaska.
Located about 60 miles south of Fairbanks, the Red Mountain property hosts two established volcanogenic massive sulfide deposits – Dry Creek and West Tundra Flats – and 30 exploration targets.
An Australian Joint Ore Reserves Committee- (JORC) compliant calculation completed last year outlined 16.7 million metric tons of inferred resource averaging 4.1 percent (1.49 billion pounds) zinc; 1.7 percent (630 million lb) lead; 0.2 percent (57.3 million lb) copper; 99 grams per metric ton (53.5 million ounces) silver; and 0.7 g/t (352,000 oz) gold in the Dry Creek and West Tundra Flats deposits.
The main Dry Creek deposit host 9.7 million metric tons of the resource averaging 2.7 percent zinc; 1 percent lead; 0.2 percent copper; 41 g/t silver; and 0.4 g/t gold. This resource is hosted in two parallel lenses – Foster and Discovery – that extend vertically.
Drilling this year indicates the potential to increase both the size and the grades at Dry Creek.
One hole reported earlier this year from the Foster lens, DC18-77, cut 4.26 meters averaging 4.8 percent zinc, 2.3 percent lead, 1,435 g/t (46.1 oz/t) silver, 2.2 g/t gold and 0.5 percent copper – the equivalent of 43.2 percent zinc when accounting for the value of all the metals. This was part of a 9.39-meter intercept that averaged 2.6 percent zinc, 1.3 percent lead, 686 g/t silver, 1.1 g/t gold and 0.3 percent copper, or 21.1 percent zinc-equivalent.
In the latest batch of results, two more holes tapped grades in Foster lens comparable to the Dry Creek resource.
DC18-84 cut 5.2 meters averaging 2.5 percent zinc, 0.9 percent lead, 12 g/t silver, 0.1 g/t gold and 0.1 percent copper, or 3.7 percent zinc-equivalent.
DC18-85 cut 5.2 meters averaging 2 percent zinc, 0.9 percent lead, 39 g/t silver, 0.2 g/t gold and 0.1 percent copper for 3.9 percent zinc-equivalent.
Another hole reported earlier this year, DC18-79, cut 4.72 meters averaging 19.5 percent zinc, 7.8 percent lead, 466 g/t silver, 6.9 g/t gold and 1.5 percent copper, or 49.7 percent zinc-equivalent in the Discovery lens. This was part of a 16-meter intercept averaging 6.4 percent zinc, 2.6 percent lead, 152 g/t silver, 2.2 g/t gold and 0.5 percent copper, or 16.1 percent zinc-equivalent.
One hole in the latest batch of results, DC18-82, cut 4.2 meters averaging 5.9 percent zinc, 2.5 percent lead, 96 g/t silver, 0.9 g/t gold and 0.1 percent copper, or 11.4 percent zinc-equivalent in the Discovery lens.
"This drilling represents a significant extension to the Dry Creek deposit and notably down-dip at both the Fosters and Discovery lenses," said White Rock Minerals CEO Matt Gill.
The Australia-based explorer also reported results from one hole drilled at Ram, a prospect about 350 meters south of Dry Creek where massive sulfide float was discovered earlier this year and traced back to a proximal source. Rock chip sampling from Ram returned assays up to 27.1 percent zinc, 152 g/t silver, 8.2 percent lead, 0.3 g/t gold and 0.6 percent copper.
DC18-86, the Ram discovery hole at Ram, cut 7.6 meters averaging 1.4 percent zinc, 0.4 percent lead, 4 g/t silver, 0.1 g/t gold and 0.1 percent copper, or 2.1 percent zinc-equivalent.
The 4,111 meters of drilling and regional exploration completed during White Rock's inaugural year of exploration at Red Mountain has expanded the two VMS deposits already identified on the property and made similar new discoveries that demonstrate the district-scale potential of the project.
"The discovery of mineralization some distance from the known deposits supports our expectation that continuing exploration of The Red Mountain area will confirm a significant VMS camp," said Gill.
The White Rock Minerals CEO said this year's reconnaissance exploration has turned up numerous targets that warrant follow-up work in 2019.
Results from seven additional holes drilled this year are expected in October.