Company intersects gold during hunt for silver

0 Comment
 14 Aug 2013   Posted by admin


A 15-hole infill drilling program by White Rock Minerals has produced substantial silver mineralisation results and an emerging gold mineralisation zone at its deposit in the Mt Carrington project.
Completed early July, the exploration effort looks set to upgrade the company’s confidence from inferred to indicated in the latter half of 2013, with fresh assays from the latest drills confirming broad, high grade silver zones from the surface.
The current inferred resource accounts for over one third of the silver inventory at Mt Carrington, in NSW’s New England Fold Belt. The resource was defined to feature 4.1 million tonnes at 62g/t of silver, for 8.2 million ounces of silver.
The gold mineralisation intersection was found in drill hole WRDD029, adjacent to an earlier gold interception found at hole WRDD020. White Rock Minerals stated the new gold finding had confirmed the existence of a gold pod not previously recognised in resource estimations.
While the silver findings met the expected mineralisation from previous drilling, White Rock Minerals managing director Geoffery Lowe said the gold discovery provided an extra incentive to continue exploration in the highly prospective area.
“The final assay results for the White Rock infill drilling program provide encouragement that there is more upside than previously thought, now that we have recognised gold mineralisation extending over adjacent drill-holes in the southwest of the deposit,” Mr Lowe said.
“The drilling at White Rock is returning results in line with our expectations, and should lead to an upgrade of the current inferred resource status, and increase confidence in the resource model.
“The intersection of gold mineralisation in drill-hole WRDD020 is encouraging in an exploration sense, as the White Rock deposit environs has previously been considered relatively un-prospective for gold. This provides a robust target for future drilling.”