White Gold confirms, extends VG deposit
Eight holes tap gold at and around 230,000 oz deposit at QV North of 60 Mining News – February 21, 2020
Last updated 9/26/2020 at 12:09pm
White Gold Corp. Feb. 20 said drilling has extended VG, the main deposit on its recently acquired QV gold property in Yukon's White Gold District.
Acquired by White Gold early last year, QV is located just across the Yukon River and north of the White Gold property. The previous owner, Comstock Metals Ltd., had outlined 4.4 million metric tons of inferred resource averaging 1.65 g/t (230,000 ounces) gold in the VG deposit.
White Gold said the property has geologic similarities to both its namesake property and its newly discovered Vertigo target on the JP property, which is northwest of QV.
An eight-hole reverse circulation drill program carried out at VG last year focused on expansion areas and to infilling gaps in the deposit's historical resource model.
The company said mineralization similar to what is found in the more than 1-million-oz Golden Saddle deposit on the White Gold property was intercepted in every hole at VG.
Highlights from the 2019 VG drilling include:
• 50.3 meters of 2.07 grams per metric ton gold in QVVGRC19-005.
• 38.1 meters of 1.97 g/t gold in QVVGRC19-007.
• 36.6 meters of 1.42 g/t gold in QVVVGRC19-006.
• 33.5 meters of 1.09 g/t gold in QVVVGRC19-002.
• 10.7 meters of 2.09 g/t gold in QVVVGRC19-001.
White Gold said these results confirm the continuity of mineralization and extend the current deposit limits. The VG deposit remains open in both directions along strike and downdip.
"We are very pleased with the results of our 2019 RC drill program on the recently acquired VG deposit. The program further expanded the footprint of the deposit, which continues to remain open along strike and at depth and refined the geologic model for continued follow up work," said White Gold CEO David D'Onofrio. "Furthermore, the mineralization, alteration, geochemistry and structural controls of the VG are remarkably similar to our flagship Golden Saddle deposit just 10 kilometers (six miles) to the south."
Multiple underexplored, high-priority targets exist surrounding the VG resource on the QV property, including the Tetra, Shadow and Stewart gold targets, which warrant follow-up exploration based on exploration performed to date.
"This property has seen very limited exploration to date and we are confident that our team is well positioned to maximize the value of the VG deposit and the several other highly prospective and untested new targets on the property through leveraging our innovative data driven exploration methodologies," said D'Onofrio.
The 2019 program at QV also included lidar (light detection and ranging) surveys flown over the southern portion of the property, as well as the collection of 1,466 soil samples.