White Rock Minerals (ASX: WRM) has extended high-grade zinc-lead-silver-gold-copper mineralisation at its wholly-owned Red Mountain project in Alaska.
The volcanogenic massive sulphide (VMS) mineralisation was encountered in the first two holes of the 2018 campaign, which aimed to test extensions to Discovery and Fosters lenses at the Dry Creek deposit.
Discovery lens returned 4.7m at 19.5% zinc, 7.8% lead, 466 grams per tonnes silver, 6.9g/t gold and 1.5% copper for 49.7% zinc equivalent. The intersection includes a 1.6m interval grading 18.5g/t gold.
Meanwhile, Fosters lens revealed 4.3m grading 4.8% zinc, 2.3% lead, 1,435g/t silver, 2.2g/t gold and 0.5% copper for 43.2% zinc equivalent.
“The drilling represents a significant extension to the Dry Creek deposit and notably down dip at both the Fosters and Discovery lenses,” White Rock Mountain managing director and chief executive officer Matt Gill said.
“These first two extension drill holes highlight the upside potential for a significant expansion to the resource at Dry Creek, both in terms of grade and size,” he added.
Red Mountain hosts two primary deposits Dry Creek and the West Tundra, which have a combined maiden resource of 16.7 million tonnes grading 8.9% zinc equivalent. The resource includes a higher-grade component of 9.1Mt grading 12.9% zinc equivalent.
Of the primary resource, contained metals comprise 678,000t zinc, 286,000t lead, 53.5 million ounces of silver and 352,000oz gold.
“Dry Creek is an exciting VMS deposit as it shows great variation in thickness that has the potential to rapidly add to the resource,” Mr Gill noted.
He added the recent drill results also highlight the potential for high-grade silver and gold within the project, with gold assaying up to 25g/t and silver up to 1,795g/t.
“In addition, we are continuing to see more copper as we explore to the east, supporting an early interpretation that the VMS system may be improving towards the east and at depth, where improving zinc grades could also be expected.”
Mr Gill also pointed the company had firmed up more than 30 regional targets across the 143 square kilometre project, which it had yet to test.
Drilling is ongoing at Discovery lens with assays pending for two holes and another underway.
Alaska for mining
According to White Rock, Red Mountain is 100km from Fairbanks, which is a known “mining hub” in the country. The project is also close to “extensive” mining infrastructure.
In the 2017 Fraser Institute annual survey for mining investment attractiveness, Alaska ranked 10th out of 94 regions.
During early morning trade, White Rock’s share price remained steady at A$0.009.