Capital Raise and
20 ounces per tonne gold intersection
Hello Friends, Shareholders and Investors,
It's been a while since my last update to you - things have been pretty busy as we set out to raise funds to continue our successful drilling at our Morning Star gold mine in Victoria.
We completed the capital raise (a Private Placement), but disappointingly not to the amount we wished for, as we also had plans to acquire the drill at our Red Mountain Project in Alaska and do some drilling on our recently discovered Kiwi high-grade (16%) copper target. I've learned you often don't get everything you wish for - this target remains a high priority for us to drill test, especially in this decarbonizing world economy.
I gave a brief interview on the structure of the capital raise, as it also had to involve a convertible note alongside the Placement, in order to provide sufficient funds to meet our primary objective - the recruitment and purchase of certain capital items to allow us to do the pre-production development at the Morning Star gold mine and pour our 1st bar of gold in Q3 (July to September period) of this year.
You can listen to this podcast below.
Link to Capital Raise Podcast
I also presented at the RIU Conference in Sydney. This recorded presentation I hope gives you a sense of the bigger picture we at White Rock see for your company, the assets we have the opportunities we see.
Link to the RIU Conference corporate presentation
And what a drill hole result!
This week we announced one of the best drill hole results from our drilling at the Morning Star gold mine since we - White Rock - started in October last year - 0.4 metres at 621 g/t gold - over 20 ounces per tonne in the old language.
This result came from the Gap Zone underground - a 200 metre vertical section of the mine where little drilling and no recorded mining has occurred. We are only 30% into our first pass drilling campaign of this area, which is 600 metres long. We are extremely encouraged by this result and that that drilling to date has identified up to ten reef structures at the northern end of this zone.
You can access the Podcast interview I gave and the associated ASX Release below.
Enjoy.
Matt
Listen to the 621 g/t drill intersection Podcast
The ASX Announcement on the 621g/t (20 ozs/t) drill hole intersection can be found at:-
Read the 621g/t gold Intersection ASX Announcement
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