White Rock Minerals announces significant increase in zinc-silver resource at Red Mountain VMS Project
Summary : The global inferred mineral resource now totals 21.3 million tonnes at 8.5% zinc equivalent for 1.8 million tonnes of contained zinc equivalent or 393 g/t silver equivalent for 207 million ounces of contained silver equivalent.
White Rock Minerals Ltd (ASX:WRM, OTCQX:WRMCF) has reported a significant increase in zinc-silver resources at its Red Mountain volcanogenic massive sulphide (VMS) Project in Alaska.
The global inferred mineral resource now totals 21.3 million tonnes at 8.5% zinc equivalent for 1.8 million tonnes of contained zinc equivalent or 393 g/t silver equivalent for 207 million ounces of contained silver equivalent.
It has an impressive overall base metal and precious metal content with 822,000 tonnes zinc, 334,000 tonnes lead, 60.9 million ounces silver and 442,000 ounces gold.
This represents an increase of 28% in high-grade tonnage (27% increase in the global tonnage) on the previous resource estimate and places Red Mountain as a significant zinc/silver resource against a background of near all-time high zinc prices.
Could easily grow to become world-class
Strategic shareholder Crescat Capital’s geologic/technical director Dr. Quinton Hennigh said: “This increase in the Red Mountain VMS resource to 21.3 million tonnes grading 8.5% zinc equivalent, a substantial increase over the previous resource, shows the impact that a handful of drill holes can have on an early-stage project such as this.
“Dry Creek is open down dip and appears to become higher grade in the vicinity of hole DC21-97.
“While confidence is high that further drilling at Dry Creek will yet further increase Red Mountain resources, substantial upside remains in newly identified high-grade VMS targets identified by White Rock in 2021.
“This is a project that could easily grow to become a world-class, high-grade VMS camp, purely organically with the drill bit.”
Red Mountain Project
Recent drilling at Dry Creek has doubled the high-grade inferred mineral resource to 4.9 million tonnes at 8.4% zinc equivalent or 393 g/t silver equivalent (at a 3% zinc cut-off) from just an additional 12 drill holes for 3,800 meters.
The Red Mountain Project now comprises two significant deposits at Dry Creek and West Tundra Flats with a combined high-grade inferred resource of 11.6 million tonnes at 12.0% zinc equivalent or 555g/t silver equivalent, at a 3% zinc cut-off.
Red Mountain is a quality advanced exploration project centered on an established VMS district.
White Rock has shown the expansion potential, doubling the high-grade Dry Creek deposit with the addition of only 12 drill holes for 3,800 meters.
Mineralisation commences at surface and is open down dip with some of the highest-grade intersections being at depth, with one hole yielding 5.8 meters at 11.5% zinc, 3.4% lead, 69 g/t silver, 0.8 g/t gold and 0.1% copper, including 1.4 meters at 35% zinc, 12.2% lead, 237 g/t silver, 2.9 g/t gold and 0.3% copper.
Numerous VMS targets remain to be tested on the company’s district-scale tenement package of 836 square kilometers, including the exciting Kiwi prospect with massive chalcopyrite (copper sulphide) float assaying up to 16% copper, 8% zinc and 316 g/t silver and a strong conductor ready to drill.
Considerable upside
Considerable upside remains, through additional drilling, to define thicker ore positions in the deposit, which is known to pinch and swell.
Future drilling will also include testing of numerous quality targets including the Kiwi prospect, where there is high grade massive sulphide float at surface and a strong conductor that was defined by fixed loop electromagnetics at the end of the 2021 field season, subsequent to drilling activities.
