White Metal Files Environmental Clearance Certificates for Its Namibian Copper-Silver Properties and Initiates Planning of Exploration Programs
Thuder Bay, Ontario--(Newsfile Corp. - November 14, 2019) - White Metal Resources Corp. (TSXV: WHM) ("White Metal" or the "Company") is pleased to announce that it has filed with the Namibian Government (Ministry of Environment and Tourism), the required Environmental Clearance Certificates ("ECC") for Exclusive Prospecting License ("EPL") 7071 (the "Taranis Property") and EPLs 7028, 7029, and 7030 (the "Altan" or "DorWit Property"), the first step toward beginning its exploration programs in Namibia. The ECC documents, which in this case describe proposed geophysical surveys and drilling programs and a community consultation plan, are required to be filed prior to beginning any work program and are typically approved within 2-3 months of filing. The Taranis and DorWit properties are held by White Metal's 100%-owned Namibian subsidiary companies Aloe 238 and Aloe 237, respectively (see Company news release dated June 18, 2019).
Michael Stares, Interim President & CEO of the Company, stated, "With the filing of the ECCs, we can now begin planning the next steps for moving the Namibian properties forward and we expect to have our exploration programs underway early in the new year. Currently, the Company is compiling and reviewing all of the publicly available data on the Okohongo copper-silver deposit and planning an aggressive program to build on the 2011 NI 43-101 Mineral Resource Estimate. Should the price of copper and silver increase in the coming years we will be in a position to take advantage of improving commodity prices, adding more value to our Namibian properties."
The Taranis Property (EPL 7071), covering about 19,850 ha, includes the Okohongo Copper-Silver Deposit ("Okohongo Project") which has been outlined by historical drilling that shows it extends over 600 metres in strike length and 400 metres down-dip, and is open in all directions (see INV Metals news release dated August 3, 2011). The Okohongo deposit, situated within the Kaoko Belt of northwest Namibia about 700 km northwest of Windhoek, is hosted by metasedimentary stratigraphy and is considered to be analogous with the stratiform sediment-hosted Central African Copperbelt deposits of Zambia and the Democratic Republic of the Congo. This deposit contains Inferred Mineral Resources of 10.2 million tonnes grading 1.12% Cu and 17.75 g/t Ag, using a 0.3% Cu cut-off (Table 1; INV Metals Inc. NI 43-101 Technical Report, Effective Date March 31, 2011).
Table 1. Historical Mineral Resources for the Okohongo Copper-Silver Project, Namibia.
|Cut-off||Specific Gravity||Tonnes||Cu (%)||Ag (g/t)||Cu (tonnes)||Ag (ounces)||Category|
source: NI 43-101 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.
The DorWit Property (EPLs 7028, 7029, and 7030), subject to a binding letter of intent with RZJ Capital Management LLC (see Company news release dated October 16, 2019), is located about 150 km east of Windhoek, the capital city of Namibia. The Property covers about 65 km of prospective stratigraphy on the Namibian portion of the Kalahari Copper Belt, which extends eastward into Botswana, a region of active copper exploration and development (e.g., Cupric Canyon Capital; Kalahari Metals Ltd.; MOD Resources Ltd.).
Six historical copper deposits occur within the DorWit Property along with other zones with anomalous copper in historical drill core intercepts that the Company believes can be expanded upon through further exploration. Historical resource estimates contained within the Property were published by the Geological Survey of Namibia (Resources of Namibia, 1999) and are summarized in Table 2.
Table 2. Historical Mineral Resources from the Dordabis-Witvlei 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 300 m 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 exploring in Canada. 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.
Michael Stares, Director
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.
For further information contact:
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836 Fax (807) 475 7200
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/49758