White Rock Minerals confirms gold mineralisation at Red Rock

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THE DRILL SERGEANT: White Rock Minerals (ASX: WRM) has intersected a large zone of shallow gold mineralisation at the Red Rock prospect in northern New South Wales.

The Red Rock prospect is located on mining leases sitting 15 kilometres from the existing 23.3 million ounce silver and 0.28 million ounce gold Resource base on the company’s Mt Carrington project.

The latest drilling has extended a broad near-surface zone of gold and silver mineralisation, which White Rock first discovered while conducting first pass drilling in late 2012.

The company has completed ten drillholes so far this year, from which it has receives assay result for the first four holes.

 

Red Rock surface plan showing location of White Rock drillholes (red
and blue collars) with recent assay results, general geology,
historical drilling and mine workings. Source: Company announcement

 

Drilling is continuing to enable White Rock to assess the size and grade tenor of the mineralised zone.

The company is working towards the estimation of a shallow gold-silver Mineral Resource for potential inclusion into an expanded mine development study for Mt Carrington.

Highlights from three of the first four holes include:

– 62 metres at 0.6 grams per tonne gold from 8 metres;

– 49m at 2.3g/t gold from 81m, including 13m at 4.3g/t gold from 83m and 7m at 2.7g/t gold from 105m;

– 2m at 8.4g/t gold from 128m;

– 12m at 75g/t silver from 64m, including 1m at 152g/t silver from 68m and 1m at 375g/t silver from 73m; and

– 13m at 0.8g/t gold from 53m, including 1m 4.8g/t gold from 63.2m.

“The confirmation in the latest drilling program of a significant new shallow gold-silver system at Red Rock is a major advancement for us at Mt Carrington,” White Rock Minerals managing director Geoffrey Lowe said in the company’s announcement to the Australian Securities Exchange.

“We are excited and optimistic about the potential of the gold zone at Red Rock to be converted into a new Resource, adding to the 750,000 ounces gold equivalent already on the books.”

“We are currently undertaking a number of exploration programs designed to generate targets for drill testing in the second quarter.

“All of these targets are favourably located within 25km of our main Mining Leases, infrastructure and Resource base, and any new Resource additions resulting from these programs will strengthen the recently completed economic study for a new mining operation at Mt Carrington.”