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Q&A White Gold: New High-Grade Parallel Structure 300m From Previous Drilling On Vertigo Target
1. In your December 10 press release you report results from a drill hole 300 meters away from previous drilling. Why did you choose to drill there?
Soil sampling and advanced geotechnical analysis has always been at the core of our exploration strategy; a strategy designed by our Chief Technical Officer and famed prospector, Shawn Ryan. Before any drilling happens in an area, we first analyze a wide swath of the unglaciated Yukon soil as it is a strong indicator of what is contained in the bedrock underneath. Subsequent to the geochemical work, we then analyze these “Hot” zones structurally with Lidar to asses the structure, and finally follow up with the GT Probe, a highly advanced way to assess the bedrock with minimal environmental disturbance. These tools allow us to optimize the drill placements.
Once again our exploration strategy was proved correct. JPRVERRC18-016 is approximately 300m north of our core Vertigo drilling, and returned results of 9.19 g/t Au over 9.14m from 54.86m depth, including 17.2 g/t Au over 4.58m.
This is very big news, as it indicates another mineralized structure parallel to our existing Vertigo structure. With the hole’s distance and it still producing such high-grades, we believe our Vertigo discovery could be multiples larger than we previously imagined.
2. In terms of grade, how do these results compare with the results of other Vertigo holes?
The drill results to date across Vertigo have been really extraordinary, such as JPRVERRAB18-014/JPRVERRC18-013 with 22.47 g/t Au over 30.46m, including 59.3 g/t Au over 3.05m, or JPRVERRC18-006 with 31.35 g/t Au over 6.10, including 103.9 g/t Au over 1.53m; these being just a few highlights of our many high-grade holes.
What is really exciting is that these new step-out drill holes continue to demonstrate consistent high-grades, even when hundreds of metres away from our main drilling area. Holes such as JPRVERRC18-016 mentioned prior with its 9.19 g/t Au over 9.14m, or JPRVERRC18-014 with 18.6 g/t Au over 1.52m. With these latest drilling results, we see that the already significant footprint of multiple structurally controlled mineralized zones at Vertigo have been identified over hundreds of metres, on a very footprint that is largely untested. And as we continue to explore around the discovery it just keeps showing its massive potential; we really have something special here.
3. What is the significance of your sampling program also reported in the December 10 release?
As mentioned, soil and surface sampling is a main step in our exploration program. Across the Vertigo zone, surface samples returned superb grades including 304.3 g/t Au, 156.2 g/t Au and 105.0 g/t Au, with 7 samples grading over 50 g/t Au, 16 samples grading over 10 g/t Au and 29 samples grading over 2 g/t Au.
Along with being some of the highest grades ever encountered in the entire White Gold District, these soils also identified a brand new 180m wide undrilled area on the Vertigo target approximately 300m west of JPRVERRC18-009 (14.23 g/t Au over 6.10m from surface). This specific zone produced 24 samples that returned values ranging from trace up to 58.4 g/t Au, with samples averaging 10.1 g/t Au; even more high-grades of gold indicating what we have underneath.
High-grade surface samples have also been encountered on multiple other undrilled target areas along Vertigo’s 18km structural trend, with results of up to 105 g/t Au. Follow up work still needs to be completed on these targets, such as GT Probe sampling, geophysical surveys and drilling, but we believe the prospecting results in these areas are very comparable to those found at Vertigo, and thus very strong potential for these other targets to produce the same mineralization. These results indicate that we could have several other Vertigo type discoveries right under our feet! So stay tuned…
4. From a larger perspective, how do these new results fit into your overall understanding of the Vertigo area?
Whether its the new soil or grab samples or drilling results the data expands the known gold mineralization across additional parallel structures and potential on the Vertigo, and has significantly increased the footprint of the overall system. The structural zones hosting the high-grade mineralization on the Vertigo, highlight this potential for expansion of the known mineralization at the Vertigo and on the additional new discoveries on other targets in the area.
The high-grade material is also widely spread across the area is some of the most impressive in the whole Yukon. The Vertigo and the entire White Gold District is unfolding as a large-scale gold system which is just beginning to be uncovered. We look forward to receiving the remainder of the results from Vertigo and the surrounding targets and on our other properties which will be released in due course.
We are extremely happy with these results thus far!
Cautionary Note Regarding Forward Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", “proposed”, "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the anticipated benefits to the Company and its shareholders respecting the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the JP Ross property; future growth potential of the Company, including whether any further mineral resources will be established in accordance with NI 43-101 at any of the Company’s properties; exploration results; and future exploration plans.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the JP Ross property; failure to expand or identify any additional mineral resources; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the JP Ross property and the Company’s other properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described under the heading "Risks and Uncertainties" in the Company’s most recently filed management’s discussion and analysis. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
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