White Metal Provides Update on Exploration Program, Taranis Cu-Ag Project, Namibia

Thunder Bay, Ontario--(Newsfile Corp. - December 22, 2020) - White Metal Resources Corp. (TSXV:WHM) ("White Metal" or the "Company") is pleased to provide an update on its ongoing exploration program (see Company news release 22 October 2020) on the Taranis (Okohongo) Copper-Silver Project (the "Project" or "Property"), located in northwestern Namibia and defined by Exclusive Prospecting Licence ("EPL") 7071. The Project includes the historical Okohongo Copper-Silver Deposit (the "Okohongo").

Michael Stares, President & CEO of the Company, stated, "We are pleased to see progress being made on the 2020-2021 exploration program on the Taranis Property, despite the challenges of the worldwide pandemic. The primary target is the area of the Okohongo Copper-Silver Deposit, where a historical mineral resource estimate was reported in 2011. In addition to RC drilling within the deposit area, we will also be conducting reconnaissance geological mapping and prospecting over the entire EPL, including follow up on a number of promising historical copper showings."

To date, the Company has completed re-logging of historical RC chip samples and re-sampling (quarter core) of four diamond drill hole cores from within the area of the historical Okohongo mineral resource estimate. Prospecting and regional geological mapping and sampling is planned to begin in early January 2021. An RC drilling program is planned to begin in January 2021, comprising a minimum of 3,000 m in 24 holes. The drilling results will be used to prepare a current mineral resource estimate over the Okohongo Cu-Ag Deposit, compliant with National Instrument 43-101.

The Taranis Property (aka Okohongo), which covers about 19,850 ha, includes the historical Okohongo Copper-Silver Deposit which has been outlined by historical drilling, showing that it extends over 600 metres in strike length, 400 metres down-dip, and is open in all directions (see INV Metals news release dated August 3, 2011). The Okohongo, 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 historical 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 Deposit, Namibia.

Cut-offSpecific GravityTonnesCu (%)Ag (g/t)Cu (tonnes)Ag (ounces)Category
0.02.45 11,691,539 1.0115.85 117,645 5,957,874 Inferred
0.12.45 11,682,796 1.0115.86 117,640 5,957,640 Inferred
0.22.45 11,453,414 1.0216.13 117,219 5,940,047 Inferred
0.32.45 10,196,456 1.1217.75 114,046 5,818,534 Inferred
0.42.45 9,535,538 1.1718.66 111,731 5,719,226 Inferred
0.52.45 8,705,239 1.2419.73 107,993 5,522,454 Inferred
0.62.45 8,142,684 1.2920.50 104,877 5,366,572 Inferred
0.72.45 7,366,110 1.3521.61 99,810 5,116,714 Inferred
0.82.45 6,379,793 1.4523.16 92,402 4,750,190 Inferred

 

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 Company is treating the tonnages and grades reported in Table 1 as historical mineral resources. The Inferred Mineral Resource estimate reported in Table 1 for the Okohongo Copper-Silver Deposit was prepared by qualified authors in 2011, conforming to CIM Definition Standards on Mineral Resources and Mineral Reserves as outlined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. 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 news 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 Property.

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 NI 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"

Michael Stares
President & CEO, 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:

Michael Stares
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/70821

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