By Shane Lasley
Mining News
White Gold increases VG resource by 16%
Sees opportunities to quickly upgrade and expand gold deposit North of 60 Mining News – November 12, 2021
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Last updated 11/11/2021 at 4:23pm
White Gold Corp.
White Gold Corp. Nov. 11 reported a 16% increase to the mineral resources for the VG deposit at QV, a gold exploration project about 85 kilometers (53 miles) south of Dawson City, Yukon.
White Gold acquired QV from Comstock Metals Ltd. in 2019. At the time, the VG deposit on this property hosted 4.4 million metric tons of inferred resource averaging 1.65 g/t (230,000 ounces) gold.
The gold mineralization in this deposit appears to be very similar to the Golden Saddle deposit on White Gold's namesake property about 11 kilometers (seven miles) to the south.
Based on limited drilling completed since the acquisition, the VG deposit now hosts 5.26 million metric tons of inferred resource averaging 1.62 g/t (267,600 oz) gold.
"When we strategically acquired the QV project in 2019, we believed that there was a significant opportunity to increase the size of the resource in addition to the immediate increase of our total resource base in the area and were very interested in the prospectively of several untested targets on the property," said White Gold CEO David D'Onofrio. "We are very pleased to have already increased the resources at the VG deposit with very limited drilling and feel confident that excellent opportunities exist to quickly upgrade and further expand the resources, further increasing our already significant defined resource base."
The updated resource calculation for the VG deposit is part of White Gold's fully funded 2021 exploration program across the company's more than 1 million acres of exploration properties in Yukon's White Gold District. This work is being supported by the financial wherewithal and technical expertise of partners Agnico Eagle Mines Ltd. and Kinross Gold Corp.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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