White Rock Minerals announced that they completed the capital raise (a Private Placement) to continue its successful drilling at the Morning Star gold mine in Victoria. However, there is a remaining opportunity to invest as the company also had plans to acquire the drill at its Red Mountain Project in Alaska and do some drilling on its recently discovered Kiwi high-grade (16%) copper target. This target remains a high priority for the company to drill test, especially in this decarbonizing world economy.
White Rock Minerals Managing Director Matt Gill gave a brief interview on the structure of the capital raise, as it also had to involve a convertible note alongside the Placement, in order to provide sufficient funds to meet the company’s primary objective – the recruitment and purchase of certain capital items to allow it to do the pre-production development at the Morning Star gold mine and pour its 1st bar of gold in Q3 (July to September period) of this year.
You can listen to this interview here:
Also, Matt Gill presented at the RIU Conference in Sydney. This recorded presentation gave the audience a sense of the bigger picture the team of White Rock sees for the company and the opportunities they see.
Presentation from the RIU Sydney Resources Round-up:
This week, White Rock Minerals announced one of the best drill hole results from its drilling at the Morning Star gold mine since the company started in October last year – 0.4 metres at 621 g/t gold – over 20 ounces per tonne in the old language.
This result came from the Gap Zone underground – a 200-metre vertical section of the mine where little drilling and no recorded mining has occurred. White Rock Minerals are only 30% into their first pass drilling campaign of this area, which is 600 metres long. The team is extremely encouraged by this result and that drilling to date has identified up to ten reef structures at the northern end of this zone.