White Rock Minerals Ltd: 30 September 2021 Quarterly Activities Report
Ballarat, Australia - During the September quarter, White Rock Minerals Ltd. (ASX:WRM) (OTCMKTS:WRMCF) successfully executed the acquisition of the Woods Point Gold Project, by way of merger with AuStar Gold. Following approval of the Share Scheme resolutions by AuStar's securityholders in late July, and then the Federal Court of Australia in early August, the scheme became legally effective on 12 August 2021. White Rock issued shares and options to AuStar Gold shareholders and optionholders on 23 August 2021. AuStar Gold delisted on 25 August 2021.This is an exciting time for White Rock shareholders, with this bringing into the portfolio a highly prospective exploration area of 660km2 in one of Victoria's largest historic goldfields, along with an 80,000tpa gravity gold processing plant and a mine that has produced over 800,000 ounces at an average grade of 26.5g/t1. Importantly, it also comes with a highly skilled and qualified workforce of some 23 personnel. This is a high-quality asset that offers a significant value creation opportunity for Shareholders.
Key Highlights
Woods Point Gold Project
White Rock Minerals successfully acquired the Victorian-based Woods Points Gold Project by way of merger with AuStar Gold. This acquisition brings a large prospective exploration package, high grade gold mine and gold processing plant into the White Rock portfolio.
Production at the Morning Star gold mine has been halted, and exploration commenced. Two diamond drill rigs are currently operational. The Company is positioned for strong news flow through December quarter.
Red Mountain Project
An additional 58 mining claims covering 38km2 (15 square miles) were acquired which cover the recently identified Keevy VMS Trend. Massive sulphides identified at Red Mountain VMS grading 35% zinc, 12.2% lead, 237g/t silver, 2.9g/t gold & 0.3% copper, for 55.3% Zinc Equivalent grade.
High grade surface samples including 6.5 g/t gold found at the Last Chance Gold project with numerous targets identified to follow up in the 2022 exploration season.
Mt Carrington Project, NSW
Thomson Resources Ltd ("Thomson") (ASX:TMZ) are progressing work towards a Definitive Feasibility Study ("DFS"), drilling for geotechnical and metallurgical purposes is scheduled for November 2021.
Community consultation and the preparation of an Environmental Impact Statement ("EIS") is underway. Thomson are funding the DFS and EIS, with White Rock free carried through to a Decision to Mine.
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About White Rock Minerals Ltd:
White Rock Minerals Ltd. (ASX:WRM) (OTCMKTS:WRMCF) is a diversified explorer and near-stage producer, headquartered in Ballarat, Victoria. The Company's flagship exploration project is Red Mountain in central Alaska. At Red Mountain, there are already two high grade zinc - silver - gold - lead VMS deposits, with an Inferred Mineral Resource of 9.1 million tonnes @ 609g/t AgEq / 13% ZnEq. The Company is also exploring its recently discovered large intrusion related gold anomaly at Last Chance, also located in the Tintina gold belt of Alaska, home to multi-million gold ounce deposits like Pogo, Fort Knox and the Donlin Project. The Company also has the Mt Carrington project, located near Drake, in Northern NSW, which is a near-production precious metals asset with a resource of 341,000 ounces of gold and 23.2 million ounces of silver on an approved mining lease, and with a Gold First PFS and JORC Reserve.
Source:
White Rock Minerals Ltd.
Contact:
Matthew Gill or Shane Turner Phone: +61-3-5331-4644 Email: info@whiterockminerals.com.au www.whiterockminerals.com.au
