Fundamental Research Corp – Canada’s largest independent research house – has updated their research on White Rock. They have now factored in the recent expansion of White Rock’s high-grade silver-rich zinc Vendor Management System (VMS) project at Red Mountain in Alaska, and its recent high-grade gold hits at Morning Star in Victoria, and reiterated their valuation of A$0.90 (versus last traded of $0.20).
The analysts, Sid Rajeev, B.Tech, CFA, MBA, and Nina Rose Coderis, BSc (Geology), wrote: “We believe Red Mountain’s resource is one of the highest-grade silver-zinc VMS deposits in the world“, and on Morning Star that “Due to the project’s existing infrastructure, White Rock should be able to put the project back into production quickly after delineating a resource“.
See the full report – here.
Recent drilling at Dry Creek (Alaska) has doubled the high-grade Inferred Mineral Resource to 4.9 million tonnes at 8.4% zinc equivalent or 393g/t silver equivalent (at a 3% Zn cut-off) from just an additional 12 drill holes for 3,800 metres.
The Red Mountain Project now comprises two significant deposits at Dry Creek and West Tundra Flats with a combined high-grade Inferred Resource of 11.6 million tonnes at 12.0% zinc equivalent or 555g/t silver equivalent, at a 3% Zn cut-off.
The global Inferred Mineral Resource increased 27% and now totals 21.3 million tonnes at 8.5% zinc equivalent for 1.8Mt of contained zinc equivalent or 393g/t silver equivalent for 207Moz of contained silver equivalent.
Impressive overall base metal and precious metal content with 822,000t zinc (1.8B lbs), 334,000t lead, 60.9 million ounces silver and 442,000 ounces gold.