Multiple Visible Gold Intercepts at Morning Star Gold Mine
Hello Friends, Shareholders and Investors,
I hope that you had a good break over the Christmas / New Year period - a safe one, an enjoyable and relaxing one, and with family and friends.
Today we released our first ASX Announcement for 2022 - some early but very encouraging drill hole results from our 2 drill rig attack at the Morning Star gold mine.
For those less familiar with narrow vein high-grade nuggetty underground gold, the three basic things we search for are:
- Structure. The geology has to be conducive to allowing faults to occur and for gold-bearing fluids to penetrate, normally in the form of quartz and sulphides.
- Gold. Seems obvious, but a favorable geological structure does not necessarily guarantee gold mineralization. We have some great early gold grades here - up to 30 g/t (1 ounce per tonne in the old language), and
- Width. The favourable geological structure, hosting gold mineralisation, does need to be of sufficient width to ensure there is enough contained gold within to be economic to mine. In a high-grade gold environment, anything over 0.5 metres wide is OK.
What is pleasing about these early results is that we have the 1st two criteria - multiple structures and great gold grades. The trick now is to locate where these structures are of decent width.
A key conclusion from this early drilling is that:and
- Preliminary interpretations suggest over eight reefs with the potential for economic mineralisation extend across the Dickenson South target area, with the first ring of 6 drill holes intersecting 26 reef positions with greater than 1g/t gold, used as an indicator for a reef position of interest.
Drilling also continues underground testing the Gap Zone. This is still early days given the Zone is 600 metres long, about 60 metres wide and 200 metres deep, and we are only some 20% into the first pass drilling here.
- At least two new reef structures have been identified with a complex array of structures linking the Dickenson, Shamrock, Exhibition and Whitelaw Reefs suggesting the potential for numerous favourable structural positions not defined by historical work.
Multiple visible gold intercepts at Dickenson South Target, Morning Star Gold Mine.
And a reminder of a Research Note done in November 2021 by Fundamental Research Corp - Canada's largest independent research house, that values White Rock at 87 cents per share (currently we are 1/3rd of that).
Does this present an investment opportunity?? Do your own research.
The Note looks at each of our 3 assets:and describes and then values each of these.
- The Woods Point Gold Project,
- Our high-grade silver-zinc VMS and IRGS gold Project at Red Mountain in Alaska, and
- Our advanced Mt Carrington gold and silver project in NSW.
It does make for interesting reading.
Enjoy.
Matt
FRC Re-initiation Report - WRM Getting Zero Value for Two of Its Three Assets
Our mailing address is:White Rock MineralsPO Box 195Ballarat, Victoria3353Australia
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