Silver, Zinc And Gold Exploration Underway In Alaska, USA.

White Rock Minerals (ASX:WRM, OTCQX:WRMCF) is a mineral resources exploration and development company based in the historic gold mining centre of Ballarat in Victoria, Australia.

White Rock owns the Red Mountain project in central Alaska – a high-grade silver-zinc-gold-lead VMS and gold IRGS project – and the advanced Mt Carrington gold-silver project in New South Wales.

White Rock is also in the process of acquiring ASX-listed AuStar Gold – a Victorian gold explorer and producer.

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White Rock’s current focus is on its fully funded three-pronged exploration drilling program in Alaska. White Rock has secured three diamond drills to explore for silver, zinc and gold – all commodities in demand and which are known to occur within the company’s large 798km2 land package, located just 100km south of Fairbanks in central Alaska.

Drilling has commenced and all three drills will be operational by mid-June. This drilling program should generate some exciting news flow for the investor, especially given the interest in Junior Exploration companies and the commodities that White Rock is pursuing – silver, zinc, and gold.

The company is also advancing its Mt Carrington gold and silver project in joint venture with ASX-listed Thomson Resources. The advancement of this project offers the investor a second asset to underpin their investment in White Rock.

And thirdly, White Rock is working through the merger process to acquire AuStar Gold. This acquisition will catapult White Rock into the gold producer league, but more importantly, brings with it 670km2 of under-explored yet highly prospective Victorian goldfields ground, in a state famous for past gold production and home of the world’s richest gold mine – Fosterville.

White Rock’s “three for three” asset base and exploration program in 2021 presents an exciting opportunity for the investor to get exposure across three assets and three commodities in two first world jurisdictions.

 

About White Rock Minerals (ASX: WRM)

White Rock Minerals Ltd is an Australian minerals exploration and development company with activities focussed on two projects: Red Mountain and Mt Carrington.
The 100% owned Red Mountain Project, covering 798km2, is located in central Alaska. The Company is exploring Intrusion Related Gold System (IRGS) mineralisation and high-grade silver-rich zinc volcanogenic massive sulphide (VMS) deposits.

There are already two high-grade zinc-silver rich deposits with an Inferred Mineral Resource of 9.1 million tonnes @ 157g/t silver, 5.8% zinc and 0.9g/t gold (13.2% ZnEq) (609g/t AgEq).
Mt Carrington is a 100% owned advanced gold-silver project located in northern NSW, Australia. A 2020 Pre-Feasibility Study (PFS) Update into the “Gold First” development stage declared an overall Mineral Resource of 352,000 ounces gold. There is also a Silver Mineral Resource estimate totaling 23M ounces. The PFS financial metrics for this project are robust, especially in this strong gold price environment. Using a conservative A$2,300 per ounce, the 2020 Gold First PFS financial metrics demonstrate a capital payback of just 14 months, an IRR greater than 80%, and with free cash flow generated from the gold over its first 5 years of greater than A$120M.

White Rock is also in the process of acquiring a Victorian gold explorer and producer called AuStar Gold.

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