White Rock upgrades eponymous deposit Resource

THE DRILL SERGEANT: White Rock Minerals (ASX: WRM) has completed modelling and Resource estimation to upgrade the White Rock silver deposit Resource.

White Rock silver deposit is one of eight deposits making up the company’s Mt Carrington project.

The majority of the four largest gold-silver deposits at the Mt Carrington project are now classified as Indicated Resources.

“The upgrade to Indicated Resource for a large quantity of the White Rock silver deposit now completes the major geological component in the path to development of the Mt Carrington gold-silver project,” White Rock Minerals managing director Geoffrey Lowe said in the company’s announcement to the Australian Securities Exchange.

“Based on the pit optimisation work from the scoping study completed in 2012 the proportion of Indicated Resource included in the scoping study approximates 100 per cent for Lady Hampden, 75 per cent for Strauss, 60 per cent for Kylo and 60 per cent for White Rock.

“On that basis we are happy that the geological confidence in each deposit will allow us to proceed with feasibility studies in 2014.”

 

White Rock prospect: Location of Indicated and Inferred Resource,
current drilling density and historical mine workings. Source: Company
announcement

 

White Rock explained the upgraded global Resource has slightly more tonnes at an overall slightly lower grade than the previous estimate coming in at:

4.4 million tonnes at 58 grams per tonne silver for 8.192 million ounces of silver (previously 4.1 million tonnes at 62g/t silver for 8.194 million ounces of silver).

The new Indicated Resource stands at:

1.7 million tonnes at 77g/t silver for 4.214 million ounces of silver.

White Rock said this presents a much higher grade compared to the overall resource, and represents over 50 per cent of the original Inferred Resource.

The company also pointed out that the drilling it completed to upgrade the Resource has resulted in a much more robust interpretation of the geology, alteration and mineralisation of the White Rock deposit.

White Rock expects the core samples will provide sufficient material to finalise a metallurgical testwork optimisation process during the feasibility study, as well as enable a precious metal concentrate to be generated for marketing purposes, which it considers to be an important part of the final feasibility assessment.

Email:
info@whiterockminerals.com.au

Website:
www.whiterockminerals.com.au