Market Overview

White Gold Corp. Intersects 3.76 g/t Gold over 66.2m Successfully Extending the Golden Saddle Deposit at Depth and Also Discovers New Mineralized Zone "GS West" Located 750m Along Trend from the Golden Saddle Deposit

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TORONTO, Oct. 16, 2018 (GLOBE NEWSWIRE) -- White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the "Company") is pleased to announce that a new shallow zone of gold mineralization has been discovered on trend with the Golden Saddle deposit at the Golden Saddle West ("GS West") target on its White Gold property, Yukon. The GS West target is located approximately 750m west of the Golden Saddle deposit, along a structural trend containing several other targets, including the high-grade Ryan's Showing discovery announced September 6, 2018.

Golden Saddle, GS West, & Arc 2018 Drill Plan
Golden Saddle, GS West, & Arc 2018 Drill Plan



Step out and infill drilling at Golden Saddle has also continued to return significant results, expanding the footprint and definition of the deposit. Maps to accompany this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

The Company is also currently drilling at its JP Ross property to follow up on the high-grade Vertigo discovery as part of its fully funded regional exploration program backed by partners Agnico Eagle Mines Limited (TSX:AEM, NYSE:AEM) and Kinross Gold Corp (TSX:K, NYSE:KGC). Additional results will be released in due course, along with further results from the additional testing performed along trend with the Golden Saddle Deposit on its White Gold property including the Ryan's Showing discovery.

Highlights Include:

  • WHTGS18D0194 intersected 6.90 g/t over 23.64m from 427.11m depth, within broader mineralization of 3.76 g/t Au over 66.2m from 385.2m depth and 2.32 g/t Au over 115.61m from 346.24m depth extending the GS Main Zone and high-grade core of the Golden Saddle deposit by 60m (14%) down-dip in the area.
  • GS West: A new shallow mineralized zone open at depth and along strike was discovered 750m to the west of the Golden Saddle deposit along the structural trend, intersecting Golden Saddle style mineralization in all three holes, including 1.92 g/t Au over 24m from 117m depth WHTGS18D0184 within broader mineralization of 2.97 g/t Au over 10m from 118m depth.  
  • WHTGS18D0193 intersected 3.95 g/t Au over 68m from 210m depth, including 5.42 g/t Au over 47.3m from 225.7m depth, and 9.55 g/t Au over 11.9m from 256m depth infilling a 70m gap in the GS Main Zone and extending mineralization towards surface. This intercept represents one of the strongest and most consistent intercepts of high-grade (>5 g/t Au) mineralization to date for the Golden Saddle.
  • WHTGS18D0191 extended the projection of the GS Main Zone approximately 200m (69%) down dip in the area, intersecting 4.87 g/t Au over 6.3m from 362m depth within broader mineralization of 1.95 g/t Au over 22.3m from 347.6m depth.
  • The Company continues to test additional targets along trend with the Golden Saddle deposit as part of the program designed to expand the existing resource on the White Gold property, with only limited historical exploration having been performed in these areas.

"We are very pleased with these results from our 2018 program on the White Gold property. Making up approximately half of our 2018 budget, the goal of this program was to grow the Golden Saddle deposit through expansion along strike and down dip as well as through the discovery of new mineralization within close proximity to the deposit," stated Jodie Gibson, VP Exploration of the Company.  "Our program has done just that – making meaningful step outs to the deposit and also making two significant discoveries this year along trend with Golden Saddle. With only limited exploration performed in the area, we are very optimistic about the potential for additional mineralization in close proximity to the Golden Saddle deposit."

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/21134456-434e-4305-99ea-f7527376526b

GS West Target, White Gold Property
The GS West is located approximately 750m west from the western edge of the Golden Saddle. Drilling on the target area consisted of 3 wide spaced holes testing over 350m of strike length. The purpose of the drilling was to evaluate the area for Golden Saddle style mineralization based on a revised geologic interpretation and projection of the Golden Saddle structural system. All three holes hit Golden Saddle style alteration and mineralization with the most significant results from WHTGS18D0184. Individual assays ranged from trace to 9.7 g/t Au.

WHTGS18D0184 returned 1.92 g/t Au over 24m from 117m depth, including 2.97 g/t Au over 10m from 118m depth and 8.12 g/t Au over 1.95m from 121.05m depth. The mineralization is associated with a strongly sericite altered, coarse grained, augen orthogneiss with pyrite and molybdenite filled fractures, quartz veining, and localised brecciation. The zone occurs along the projection of the GS Main structure to the west and highlights the significant potential for additional zones of near surface mineralization in close proximity to the Golden Saddle deposit.

The newly discovered zone was targeted with a revised geologic modeling based on DIGHEM, IP-Resistivity and historic drilling. The holes were targeting the interpreted intercept of the GS Main structure with a favorable felsic gneiss unit that hosts the majority of the resource in the adjacent Golden Saddle deposit. The discovery highlights the potential for additional, new surface, zones of mineralization adjacent to the Golden Saddle. Detailed geological modelling is in progress and will form the basis of follow up drilling in 2019.

Significant drill results from the Golden Saddle West target are included in the table below:

Hole ID Target Area From(m)   To(m)   Int(m)   Au(g/t)  
WHTGS18D0184 GS West 117.00   141.00   24.00   1.92  
Incl.   118.00   128.00   10.00   2.97  
Incl.   121.05   123.00   1.95   8.12  
WHTGS18D0185 GS West 146.00   158.65   12.65   0.41  
Incl.   157.90   158.65   0.75   3.99  
And   260.50   266.00   5.50   0.65  
WHTGS18D0186 GS West 290.97   292.02   1.05   1.59  

There is not currently enough information to estimate true thickness of the mineralization on the GS West at this time.

Golden Saddle Deposit, White Gold Property
A total of 8,745m of diamond drilling over 18 holes was conducted on the Golden Saddle. The drilling included infill drilling for advanced metallurgical testing; aggressive step-out drilling down dip to assess continuity of the mineralized structures to depth and a series of holes for geologic modelling and to assess the continuity of mineralized zones within the hanging wall of the deposit. Results for the infill/metallurgical holes were previously released and include 6.89 g/t Au over 32.0m from 171m depth, including 11.08 g/t Au over 18.4m from 188m depth. Results for 10 additional holes are presented in the table below. Highlights include holes WHTGS18D0191, WHTGS18D0193 and WHTGS18D0194. Individual assays for the released results range from trace to 37.5 g/t Au and reported intercepts are estimated to range from 65 – >95% true thickness.

Significant drill results from the Golden Saddle included in this release are detailed in the table below:

Hole ID Target Area From(m)   To(m)   Int(m)   Au(g/t)  
WHTGS18D0178 Golden Saddle 448.70   452.80   4.10   1.62  
And   473.00   478.10   5.10   2.50  
Incl.   477.00   478.10   1.10   5.51  
WHTGS18D0183 Golden Saddle 426.00   480.55   54.55   1.20  
Incl.   468.00   480.55   12.55   2.67  
Incl.   475.08   480.55   5.47   4.71  
Incl.   477.90   480.55   2.65   7.02  
And   587.85   594.00   6.15   1.75  
WHTGS18D0187 Golden Saddle 458.55   488.00   29.45   0.90  
Incl.   479.05   488.00   8.95   1.97
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