White Metal $WHM Announces New Mineral Resource Estimate Containing 7.7Mt at 1.82% CuEq, Using a 0.30% Cu Cut-off, Taranis (Okohongo) #Copper-Silver #Project, #Namibia

White Metal Resources Corp. (TSXV: WHM) (FRA: CGK1) (OTCMKTS: TNMLF) (“White Metal” or the “Company”) today announced a new Mineral Resource Estimate on the Okohongo Cu-Ag Deposit located within it 95% owned Taranis (Okohongo) Cu-Ag Project (the “Project” or “Property”), as defined by Exclusive Prospecting Licence (“EPL”) 7071 which covers about 19,850 hectares and is located in the Kaoko Copperbelt, northwestern Namibia.

Michael Stares, President & CEO of White Metal, stated, “We believe the results from the new Mineral Resource Estimate demonstrate core value of the Okohongo and this resource, coupled with the more recent exploration work showing very positive copper and silver results both north and south of the Okohongo, really outline the incredible upside to this Project. We believe there is significant opportunity to expand the Okohongo along strike, which at this stage of exploration shows potential along a prospective horizon of more than 20 kilometres. Although White Metal remains focussed on progressing its flagship project, the Tower Stock Gold Project in Ontario, Canada, the Company will continue to advance the Okohongo Copper-Silver Project as one of its primary assets.”

Mineral Resource Estimate

White Metal is very pleased to announce a new Mineral Resource Estimate (“MRE”) for the Taranis (Okohongo) Cu-Ag Project. A total of 3,226 metres of Reverse Circulation (“RC”) drilling in 28 drill holes (518 chip samples in resource) and 781.70 metres of historical diamond drill core in 4 holes (63 core samples in resource) were used to calculate the Mineral Resources in the Inferred category (Table 1). The area covered by the resource is about 740 m (east-west) and 720 m (north-south). Using a cut-off grade of 0.30% Cu and assuming 10% geological loss, the study reported approximately 7.7 million tonnes grading 1.55% Cu and 26.77 g/t Ag with a calculated copper equivalent (CuEq) of 1.82% Cu. A grade-tonnage sensitivity analysis is provided in Table 2. Example cross-sections/ block model views of the MRE are provided in Figures 1 and 2, and 3D image of the conceptual open pit and resource is provided in Figure 1.

The MRE was prepared by Caracle Creek International Consulting MINRES (Pty) Ltd. (“CCIC MINRES”), South Africa, in accordance with current CIM Definition Standards on Mineral Resources and Reserves. A Technical Report in support of the MRE will be filed on SEDAR (www.sedar.com) within 45 days of this news release. The MRE is effective as at August 11, 2021.

Table 1. Mineral Resource Estimate Statement for the Okohongo Cu-Ag Deposit, Namibia (0.30% Cu cut-off).

Classification Tonnes5 Cu (%) Ag (g/t) CuEq3 Cu (t) Ag (oz) CuEq (t)
Inferred 7,706,732 1.55 26.77 1.82 119,256 6,634,133 139,891
  1. The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is Mr. Sivanesan (Desmond) Subramani (Pri. Sci. Nat – 400184/06), Caracle Creek International Consulting MINRES (Pty) Ltd. (CCIC MINRES), South Africa. The effective date of the Mineral Resource Estimate is August 11, 2021.
  2. These Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured, however it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
  3. Copper equivalent (CuEq) was calculated using a copper price of US$3.75/lb and a silver price of US$25.00/oz and applying the formula: CuEq = Cu% + (Ag g/t * 0.01).
  4. A cut-off grade of 0.30% Cu was used for the low- and high-grade domains. The cut-off grade was determined on the basis of core assay geostatistics and drill core lithologies for the deposit, and by comparison to analogous deposit types.
  5. Tonnages are reported applying a geological loss of 10%, to account for unknown geological discontinuities; 10% is based on experience of other deposits in similar geological settings.
  6. Geological and block models for the Mineral Resource Estimate used data from a total of 24 surface reverse circulation drill holes, completed by White Metal in January-February 2021, and four re-sampled historical diamond drill holes (completed by Teck in 2008 and INV Metals in 2011). The drill hole database was validated prior to resource estimation and QA/QC checks were made using industry-standard control charts for blanks, RC chips sample duplicates, and commercial certified reference material (standards and blanks) inserted into assay batches by White Metal and by comparison of umpire RC chip sample assays performed at a second laboratory.
  7. Estimates in Table 1 have been rounded to two significant figures.
  8. The Inferred Mineral Resources were constrained by a Lerchs-Grossmann conceptual open pit envelope that was developed using the following optimization parameters: i) metal prices of US$3.75/lb copper and $25/oz silver; ii) an overall pit slope of 55 degrees; iii) bulk mining costs of US$2/t (ore) and US$1/t (waste), derived from other comparative copper projects in African copper belts; iv) processing costs and G&A estimated at US$7.80/t; and v) plant recoveries assumed to be 80% copper and 80% silver.
  9. The Mineral Resource Estimate was prepared following the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines (November 29, 2019).
  10. The geological model as applied to the Mineral Resource Estimate comprises eight Individual wireframes that were created for each grade domain.
  11. The block model was prepared using Datamine Studio RM software. A 50 m x 50 m x 5 m block model was created and samples were composited at 1.0 m intervals. Grade estimation from drill hole data was carried out for Cu and Ag using the Ordinary Kriging interpolation method.
  12. Grade estimation was validated by comparison of input and output statistics, swath plot analysis, and by visual inspection of the assay data, block model, and grade shells in cross-sections.
  13. The applied average specific gravity (2.45 t/m3) was determined on the basis of CCIC MINRES’s in-house library of SG and bulk density measurements from similar deposits in the African copper belts.

Table 2. Grade-Tonnage sensitivity analysis for the Okohongo Cu-Ag Deposit, Namibia.

Cut-off
(%Cu)
Original
Tonnes
 Adjusted
Tonnes5
SG  Cu
(%)
 Ag
(g/t)
 CuEq3 Cu Metal
(t)
Ag Metal
(oz)
CuEq
Metal (t)
0.0 8,647,675 7,782,908 2.45 1.53 26.54 1.80 119,459 6,641,266 140,115
0.1 8,647,675 7,782,908 2.45 1.53 26.54 1.80 119,459 6,641,266 140,115
0.2 8,647,675 7,782,908 2.45 1.53 26.54 1.80 119,459 6,641,266 140,115
0.3 8,563,035 7,706,732 2.45 1.55 26.77 1.82 119,256 6,634,133 139,891
0.4 7,729,289 6,956,360 2.45 1.68 29.09 1.97 116,681 6,506,902 136,920
0.5 7,631,602 6,868,442 2.45 1.69 29.40 1.99 116,320 6,491,169 136,510
0.6 7,602,738 6,842,464 2.45 1.70 29.44 1.99 116,182 6,476,379 136,326
0.7 7,435,124 6,691,612 2.45 1.72 29.71 2.02 115,197 6,392,448 135,080
0.8 7,083,401 6,375,061 2.45 1.77 30.31 2.07 112,772 6,212,486 132,095

Figure 1: Cross-section (looking north) through the middle region of the Okohongo Cu-Ag Deposit (see inset plan map) showing the copper grade distribution in the block model and locations of five RC drill holes completed by the Company (OK20 series) and one re-sampled historical diamond drill hole (TCD series) (coordinate system: WGS84 Z33S).

Figure 2: Cross-section (looking east) through the middle region of the Okohongo Cu-Ag Deposit (see inset plan map) showing the copper grade distribution in the block model and locations of four RC drill holes completed by the Company (OK20 series) (coordinate system: WGS84 Z33S).

Figure 3: Lerchs-Grossmann conceptual pit shell (shaded orange) constraining the Inferred Mineral Resource Estimate (oblique section looking down and north-northwest). The conceptual pit shell opening is about 950 m in length, 615 m in width, and extends to a depth of about 200 m below surface. The deeper, down-dip mineral resources that fall outside of the pit envelope amount to approximately 3% of the total mineral resources inventory calculated.

Additional figures and information about the Mineral Resource Estimate and recent results from the copper exploration programs at Okohongo can be viewed on the Company’s website (https://www.whitemetalres.com/taranis-okohongo-cu-ag.html).

Assays, Quality Assurance/Quality Control and Assay Procedures

Mr. Nico Scholtz was responsible a Qualified Person as defined by NI 43-101 (Pri. Sci. Nat – 400299/07), was responsible for the RC drilling and sampling program, including quality assurance (“QA”) and quality control (“QC”). The RC chip samples were collected from drill using a 3 tier riffle splitter, to split the sample and represented chip samples were collected and logged on site. Samples were taken at 1 metre intervals. Samples were securely transported to the Activation Laboratories Ltd. (“Actlabs”) preparation lab in Windhoek, Namibia.

A Quality Control/Quality Assurance (“QA/QC”) program consisting of the regular insertion of Certified Reference Material (“CRM”) copper standards and blanks into the sample stream by the Company was in place as was the industry standard internal QA/QC practices used by Actlabs. A CRM copper standard was inserted approx. every 20 samples, a control blank was inserted every 15 samples and a duplicate taken every 30 samples. A total of 24 duplicate chip samples were analysed at referee lab ALS Global, an ISO/IEC 7025 accredited lab, based in Johannesburg, South Africa.

Once prepared, Actlabs in Windhoek, Namibia sent the sample pulps directly to Actlabs in Ancaster, Ontario, Canada for analyses. Actlabs is an ISO/IEC 7025 accredited lab and is independent of White Metal. The samples were first analysed with 4-Acid “Near Total” Digestion (1F2) with ICP-OES finish for Ag, Cu and a suite of 33 other elements. Subsequently, samples with Ag greater than 100 ppm (above Ag upper detection limit) were analysed with Fire Assay Gravimetric (8-Ag) and Cu greater than 10,000 ppm (above Cu upper detection limit) were analysed with sodium peroxide fusion with ICP-OES finish (8-Peroxide ICP). Wet sample was transported to the lab without splitting, dried at the Actlabs facility in Windhoek and split afterwards.

Qualified Persons and Data Verification

The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is Mr. Sivanesan (Desmond) Subramani (Pri. Sci. Nat – 400184/06), Caracle Creek International Consulting MINRES (Pty) Ltd. (CCIC MINRES), South Africa. Dr. Scott Jobin-Bevans (P.Geo., APGO #0183), a Qualified Person as defined by NI 43-101 and a Director and VP Exploration for White Metal, has reviewed and approved all of the scientific and technical content of this news release.

White Metal Resources $WHM Engages CHF Capital Markets

White Metal Resources Corp. (TSXV: WHM) (FRA: CGK1) (OTCMKTS: TNMLF) is pleased to announce that it has retained CHF Capital Markets Inc. (“CHF”), a highly respected Canadian investor relations and capital markets firm, as its representative.

“The team here at White Metal has been tremendously engaged in the advancement of our promising mining projects, both in Canada and Namibia. We give nothing short of our best in all working initiatives, whether it be our flagship Tower Stock Gold Project in Thunder Bay, Ontario or our Taranis Okohongo drilling programs and Altan Copper-Silver property optioned to Noronex in Namibia. Given our active drilling programs at all key projects, we feel that now is the right time to get our Company name in front of a wider investor audience and ramp-up our IR, PR and marketing activities. CHF will be a valued partner in our ongoing communications efforts, whether offline or digitally,” said Michael Stares, President & CEO of White Metal Resources Corp.

Effective immediately, the services agreement for investment community outreach, corporate communications and digital marketing is for a term of 12 months, with a review at six months and may be subject to termination with a two-month notice. Under the terms of the agreement, which is subject to TSX Venture Exchange approval, CHF will receive a monthly fee of $7,000 + HST in addition to reimbursement of any expenses incurred and an incentive stock option for 250,000 shares priced at CAD$0.13. Upon termination of this contract, the option will expire in 30 days.

About CHF Capital Markets Inc.:

CHF Capital Markets (www.chfcapital.com) is a Toronto-based firm specializing in Investor Relations. With more than 139 years of collective IR & Capital Markets experience, CHF has been a trusted partner for many public companies in Canada and worldwide, operating in a broad range of industries including Mining, Technology, Fintech, Healthcare, Oil & Gas, Biopharmaceutical, and Special Situations.

Its team consists of a diverse pool of talent that combines analytical and creative skills – high-profile communications and investment industry specialists, digital media experts, content creators and graphic designers – making it a one-stop shop for all your communication needs in the public sector.

White Metal $WHM Completes Initial Three #Drill Holes on Tower Stock #Gold Project, #Ontario

White Metal Resources Corp. (TSXV: WHM) (FRA: CGK1) (OTCMKTS: TNMLF) is pleased to announce that it has completed the first three diamond drill holes totaling 597 metres, of the total 3,000 metre program that is planned on the Tower Stock Gold Project (the “Project” or “Property”). The Project is located about 40 km west-northwest of the port city of Thunder Bay, Ontario and covers approximately 1,968 hectares.

The Company optioned the Tower Stock Project from a local Thunder Bay prospector (see NR dated June 25, 2020) and to date has completed a total of 3,083 metres of drilling on the Property. During last winter’s Phase 1 diamond drilling program and DASVISION IP survey, the company made several key advancements on the Property, including:

  • Ellen Zone – TM-21-94 was the first hole drilled at this target returning significant widths of gold mineralization resulting in an important new gold discovery. Hosted in volcanic host rocks, gold is associated with hydrothermal brecciation and sericite-chlorite-calcite-pyrite alteration and this intersection suggesting a connection between the U-V Zone in the northwest to the Bench Zone in the southeast (see NR dated April 20 2021)
  • Bench Zone – TM-21-97 was successful at extending the southwest down-dip extension of the Bench Zone returning two wide board intervals of gold mineralization. Gold mineralization is hosted within calcite-sericite-chlorite-pyrite altered volcanics and feldspar porphyry. These results show that the Bench Zone is open for expansion down-dip and along strike. (see NR dated April 20 2021)

The Current drilling program is focused on a combination of high priority targets including:

  • Additional drilling on the Ellen Zone, both to the northwest and to the southeast.
  • Infill drilling at the Bench Zone in areas of gold mineralization with widely spaced drilling from previous operators, ValGold.
  • Drill testing some high priority DASVISION IP Targets that have been interpreted by a third party geophysical consultant.

Figure 1: Tower Stock Gold Property Compilation Map – Current Diamond Drilling

A summary of the three holes completed to date at the Ellen Zone includes:

  • TM-21-98: drilled 20 metres to the southwest of TM-21-94 at 45Az and -50 dip and returned same/similar lithologies and similar hydrothermal sericitic-chlorite-pyrite alteration that hosts gold mineralization in hole TM-21-94.
  • TM-21-99: drilled 25 metres to the northwest of TM-21-94 at 45Az and -50 dip and also intersected the same/similar lithologies and hydrothermal sericitic-chlorite-pyrite alteration, as described above in holes TM-21-94 and TM-21-98. Of possible significance is the presence of microsyenite and feldspar porphyry dykes which are known to have a strong association to gold.
  • TM-21-100: drilled 25 metres to the southeast of TM-21-94 at 45Az and -50 dip. This hole also returned intercepts of similar lithologies and alteration as noted above, but unlike holes TM-21-94, TM-21-98, and TM-21-99 drill hole TM-21-100 intersected significant widths of coarse hydrothermal brecciation up to 8 metres wide., with sericite-chlorite altered black matrix, and 12 metres of very intense sericitic alteration with disseminated fuchsite.

Note that pyrite mineralization occurs over the entire length of all three holes.

The Company is also planning to drill a number of the other zones including:

  • T Zone: a WNW trending target defined from two 200 metre spaced ValGold holes that returned significant widths of gold mineralization but not drill tested between the two holes; and
  • S Zone: to extend historical drill hole TM-04-30 which ended with 1.22 g/t Au over 4.5 metres.

Michael Stares, President and CEO of White Metal, commented, “I am very pleased to have completed the four holes on the Tower Stock property to date and look forward to completing the 3,000 metre planned drill program. The  new core to date, especially on the Ellen Zone, looks very similar to the Original Ellen Zone hole discovery in TM-21-94. The new zone of alteration in hole TM-21-100 looks very encouraging and we are anxiously waiting for the assays from the lab to determine if the new zones will be comparable to the original Ellen Zone Discovery. We will also be testing some high priority 3D IP geophysical targets, reviewed and targeted by a third party, as we are interested in determining the source of these anomalies. I am also excited to start testing some of the historical drill holes on the Bench Zone that have not been previously followed up on.”

A more detailed description of the planned drilling areas can be viewed on the Company’s website (https://www.whitemetalres.com/tower-stock-au.html).

All drill hole intersections presented herein represent drill core lengths (intervals) and are not considered true widths.

White Metal $WHM #Resources Partner @Noronex Provides Update on #Exploration #Program

White Metal Resources Corp. (TSXV: WHM) (FRA: CGK1) (OTCMKTS: TNMLF) (“White Metal” or the “Company”) is pleased to provide an update from its Australian joint venture partner Noronex Limited (ASX: NRX) (“Noronex”) on their current exploration program at the DorWit Copper-Silver Project (the “Property” or “Project”) in Namibia (see Noronex ASX news release dated 8 July 2021). The Namibian Project comprises three Exclusive Prospecting Licences (EPLs) that cover 78,000 hectares, referred to as the Witvlei (EPL 7028 and EPL 7029) and Dordabis (EPL 7030) properties. The Project is prospective for sedimentary hosted Cu-Ag mineralisation within the prolific Kalahari Copper Belt that spans Namibia and Botswana.

Michael Stares, President & CEO of White Metal, stated, “This is great news for our shareholders and I am very pleased to have Noronex as a partner. They continue to demonstrate that they are very committed to moving the DorWit copper-silver project forward and have outlined some exceptional copper targets for drilling. I look forward to receiving the results from the upcoming drilling program.”

Highlights

  • Field visits by the Noronex team were undertaken in May and June to finalise drill planning.  The visits confirmed sub-cropping copper mineralisation at geochemistry soil targets.
  • Five high priority prospects defined for drill testing for large scale sediment hosted copper deposit including:
    • sub-cropping copper at Dalheim with two-kilometre strike extent.
    • gossan float at Gemboksvlei on a one-kilometre-long copper soil anomaly.
    • outcropping copper at Otjiwaru over an 800 m wide zone.
    • a 2.5 by 1.2 km copper-in-soil anomaly in an altered structural zone south of Okasewa.
    • unexplained copper soil anomalies at the Christiadore prospect.
  • Access agreements have been signed with landowners for the commencement of drilling, and a contract with a suitable drilling contractor is currently being finalised.
  • A program of over fifty holes is being planned to test these targets.
  • Trial IP survey is also planned at Gemboksvlei and Okasewa to define their IP signature.
  • Meetings were held in-country with the Ministry of Mines, consultants appointed, and a subsidiary company and bank accounts established.

For additional information on the DorWit copper-silver project, please click the following link:  https://www.whitemetalres.com/dorwit-cu-ag.html