White Rock Minerals (ASX: WRM) has announced a maiden independent mineral resource estimate has been completed by RPM Global Holdings Limited, for the Red Mountain project, Alaska.
– Maiden JORC 2012 Mineral Resource estimate for the Dry Creek and West Tundra Flats deposits at the 100% owned Red Mountain project, Alaska.
– High grade Inferred Mineral Resource of 9.1 million tonnes @ 12.9% ZnEq4 for 1.2Mt of contained zinc equivalent at a 3% Zn cut-off.
– Total Inferred Mineral Resource of 16.7 million tonnes @ 8.9% ZnEq4 for 1.5Mt of contained zinc equivalent at a 1% Zn cut-off for Dry Creek, 3% Zn cut-off for West Tundra Flats & 0.5% Cu cut-off for Dry Creek Cu Zone.
– Impressive base metal and precious metal content with 678,000t zinc, 286,000t lead, 53.5 million ounces silver and 352,000 ounces gold.
– This Mineral Resource places the Red Mountain Project in the top quartile of undeveloped high-grade VMS (zinc, silver, gold) deposits globally7.
– Mineralisation commences at surface and is open down dip.
– Thirty conductivity targets with similar signatures to the Dry Creek and West Tundra Flats deposits have been identified in White Rock’s strategic land package of 143km2.
The Statement of Mineral Resources (Table 1) is reported in accordance with the requirements of the 2012 JORC Code, and is therefore suitable for public reporting.
Red Mountain is a quality advanced exploration project centred on an established volcanogenic massive sulphide (“VMS”) district. White Rock is now preparing a program to advance the understanding of the project, focussing on the already defined geophysical targets that exhibit the same signatures as the two zones that have already been drilled.
The high priority VMS targets are conductors located within zones of anomalous surface geochemistry that are indicative of proximal VMS mineralisation. The proposed field work will include surface geochemical sampling and ground geophysics to define drill targets for follow-up.
CEO and MD Matt Gill said;
“Establishing a Mineral Resource estimate for the two deposits at Red Mountain underpins our belief that the Red Mountain project can be home to a new camp of high grade zinc-silver-gold VMS deposits. This outstanding maiden Mineral Resource estimate validates our view on the potential for this district to yield further high-grade VMS deposits.
Our recent work interrogating the historical geochemical and geophysical databases using a combination of world experts in the fields of VMS mineralisation and electromagnetics has already identified 30 conductors that are associated with geochemical anomalism.
We are highly encouraged by this initial Mineral Resource estimate, especially as it only encompasses a small portion of our total tenement holding, and we look forward to adding considerable additional discoveries in the near future.”