Q&A: White Gold Corp. Makes New Discovery on Betty Property Along the Extension of the Coffee Creek Fault
On January 8, White Gold Corp. (V.WGO) put out a press release detailing the new discovery on its “Betty” Property. MotherlodeTV recently interviewed White Gold Corp. CEO, David D’Onofrio, about this discovery in the White Gold District, Yukon.
- What makes this latest discovery’s results so significant?
The Betty Ford discovery is now the fourth gold discovery, and the latest example of what we continue to find across our 423,000 hectare land package. With intersection of over 50 meters of gold mineralization, and being hosted on the same structural fault as Goldcorp’s adjacent Coffee project, we believe we have the making of another very significant discovery here.
Specific drilling highlights include, the Ford target hole BETFRDRAB18-002 returned 1.08 g/t Au over 50.29m from 4.57m depth, including 2.24 g/t Au over 9.41m from 19.81m depth. And BETFRDRAB18-001, the eastern most hole drilled in the area, returning 24.39m of 0.94 g/t Au from 19.81m depth; including 10.67m of 1.26 g/t from 19.81m depth.
What is really exciting is to date there has been very little drill testing completed on the Betty property, and these results and the gold mineralization found on other targets on the Betty this year, have demonstrated that this is a very gold large system. All this was found with just a preliminary, shallow drilling program. With getting such strong results early on, we believe we have only scratched the surface on the total mineral potential we have here.
- Why was the recent drilling on the Betty Rotary-Air-Blast?
Our exploration strategy is the brainchild of world-renowned prospector and White Gold Corp. Chief Technical Officer, Shawn Ryan. With our significantly sized land package, our strategy continues to be to explore as many areas as possible with first shallow testing methods, and then to advance deeper as value is demonstrated in the ground. Our methodical and data-driven strategy begins with soil sampling, LiDAR surveying, and bedrock probing. These methods allow us to strategically direct our RC and RAB drilling. This low-cost drilling allows us to test a maximum number of targets and define new discoveries that require diamond drilling. This cost-effective approach preserves our cash, stretching exploration dollars further. Shawn’s exploration methods have continued to prove successful this season and we are excited to complete further exploration on our Betty property.
This is now the fourth new discovery that we have made this year. We have a very robust pipeline of additional targets to test on this and our other properties in The White Gold district, which is continuing to emerge as a prolific gold camp in Canada!
- Why was drilling completed on the Betty property, and not closer to your flagship Golden Saddle & Arc deposits?
White Gold’s strategy is a combination of expanding our existing deposits and major discoveries, such as Golden Saddle and Vertigo, and generating new discoveries on our portfolio of targets through regional exploration. As part of our 2018 regional program, exploration on the Betty property included 1,800m drilled over 28 holes on 6 target areas, along with extensive soil sampling, LiDAR surveys, and geologic mapping and prospecting. As with all of our drill targets, these were defined through a regional-scale evaluation of our land package and ground-level evaluation through soil sampling and prospecting. With the most significant results returned from the Ford and White target areas, and only a limited drilling program completed to date, we believe there is significant potential to this new discovery.
- How do these Betty property results relate to other nearby deposits?
Goldcorp’s Coffee deposit contains over 3.4M oz of gold and is less than 40km away from our Betty Ford target, while Western Copper and Gold’s Casino project with 8.9M oz of gold is within 20km; and as the old saying goes, the best place to find a new gold mine, is next to an existing gold mine! The Coffee Creek fault runs directly through the Betty property, and our Betty Ford target is hosted within this fault structure, the same structural setting as Goldcorp’s Coffee deposit. We believe with this very close proximity and the similarity in grades to the Coffee deposit which Goldcorp purchased in 2016 for $520M, and is scheduled to commence production in 2021 bringing with it significant supporting infrastructure. there will be some exciting finds in the near future as we continue to explore the extent of this mineralized system.
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. 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) 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 White Gold, Betty and other properties; 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 Betty, White Gold and other properties; failure to expand or identify any additional mineral resources; the preliminary nature of metallurgical test results; uncertainties relating to future financing; fluctuations in securities and currency markets and commodity prices; 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 (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); employee and indigenous relations; availability of necessary licenses, permits and approvals; 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; 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 to be reasonable assumptions, t here 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. Accordingly, readers should not place undue reliance on forward-looking statements. 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.
Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Chief Executive Officer
White Gold Corp.