White Metal Receives Approval of Transactions to Acquire Namibian Copper Assets and Closes Financings
|Cut-off||Specific Gravity||Tonnes||Cu (%)||Ag (g/t)||Cu (tonnes)||Ag (ounces)||Category|
source: Technical Report on the Okohongo Copper-Silver Property in Northwest Namibia, INV Metals Inc.; Prepared By: Caracle Creek International Consulting (Pty) Ltd., South Africa, Effective March 31, 2011.
Licences EPL 7028, 7029, and 7030, the subject of the Altan LOI, are located about 150 km east of capital city of Windhoek, Namibia and cover about 65 km of prospective stratigraphy in the Kalahari Copper Belt which extends eastward into Botswana where several major copper deposits occur and are being financed at present (e.g., Cupric Canyon Capital news release dated February 25th, 2019).
Six historical copper deposits occur within these three licences along with other zones with anomalous copper in historical drill core intercepts which the Company believes can be expanded upon through future exploration. Historical resources (Table 2) are contained within these three mining licenses and were published by the Geological Survey of Namibia (Resources of Namibia, 1999).
Table 2. Historical Mineral Resources from the Witvlei-Dordabis Areas, Namibia.
|Deposit||Tonnes||Cu (%)||Ag (g/t)||EPL|
|Highlight drill holes: 2.5% Cu over 9m; 2.9% Cu over 7m; 3.7% Cu over 5m|
|Deposit||Tonnes||Cu (%)||Ag (g/t)||EPL|
|*global resource tonnage based on 300m hole spacing and an extrapolated zone|
The Company is treating the tonnages and grades reported in Table 2 as historical mineral resource estimates. These historical estimates do not use categories that conform to current CIM Definition Standards on Mineral Resources and Mineral Reserves as outlined in National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101") and have not been redefined to conform to current CIM Definition Standards. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources and the Company is not treating the historical estimates as current mineral resources. Investors are cautioned that the historical estimates do not mean or imply that economic deposits exist on the properties. The Company has not undertaken any independent investigation of the historical estimates or other information contained in this press release nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information. The Company believes that these historical estimates and other information contained in this news release are relevant to continuing exploration on the properties. Management of the Company is relying on the Inferred Mineral Resource estimation reported in Table 1 for the Okohongo Copper-Silver Deposit as it was prepared by expert and qualified authors and used industry standard procedures (NI 43-101) at that time. This resource estimate is relevant to the Company's future exploration programs as it identifies significant mineralization that will be the target of future exploration and development.
Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Exploration and a Director of White Metal, who is a Qualified Person under the definitions established by the National Instrument 43-101.
About White Metal Resources Corp (TSXV: WHM)
White Metal Resources Corp. is a junior exploration company currently exploring in Canada and looking for opportunities world-wide. For more information please visit the Company's website at www.whitemetalres.com.
On behalf of the Board of Directors of White Metal Resources Corp.
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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