Sector Newswire WHM.V

Sector Newswire_TM

News Release - June 4, 2021 5:09 PM ET Editorial Release

White Metal Provides Updates on Copper-Silver Projects in Namibia and Advances Tower Stock Gold Project in Ontario

Recent highlights from 95%-Owned Tarnis Copper-Silver Project (which is now proceeding to resource calculation, expected this Q2-2021): White Metal Research Reveals Epunguwe Target Area with Historical Drilling of 1.47% Cu and 11.7 g/t Ag over 27 Metres, Located 5 km North of the Okohongo Cu-Ag Deposit, Namibia and White Metal Reports 23.0 Metres of 2.31% Cu, 46.3 g/t Ag Including 4.0 Metres of 4.74% Cu, 65.1 g/t Ag from Final RC Drilling Results, Taranis Copper-Silver Project, Namibia.
Recent highlights at DorWit Copper-Silver Project: White Metal Partner Noronex Outlines Wide-Spread Copper Targets, DorWit Copper-Silver Project, Namibia.
Recent highlights from recently optioned Tower Stock Gold Project, Ontario: 3D-IP Geophysical Survey Provides Multiple Targets for Phase 2 Drill Program, Bench Zone Strike Potential Extended to 2.1 km, Plans for Additional Phase 1 Drilling, and New 'Ellen' Gold Zone Discovery of 82.5 Metres of 1.7 g/t Gold (Including 45 Metres of 3.0 g/t Gold).

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NEW YORK, NY, June 4, 2021 /Sector Newswire/ -- White Metal Resources Corp. (TSX-V: WHM) (US Listing: TNMLF) (Frankfurt: CGK1) is focused on advancing two major projects; 1) its recently optioned Tower Stock Gold Project in Ontario, where it is currently undergoing a ~4,000 m Phase 1 drilling program on multiple zones, and 2) its 95%-owned Okohongo Copper-Silver Project in Namibia, where the Company is in the process of bringing the historical resource to NI 43-101 compliance and is expected to produce a technical report on the Okohongo Cu-Ag Deposit this Q2-2021. White Metal also has a large portfolio of other projects being advanced by (JV) Partners.

Below is:

1) the latest update from White Metal on the Tarnis Copper-Silver Project, Namibia;

2) the latest update from White Metal on the DorWit Copper-Silver Project, Namibia;

3a&b) the last two news releases from White Metal on the Tower Stock Gold Project;

4) Excerpt copy of a Mining MarketWatch Journal review, full copy of which may be viewed at https://miningmarketwatch.net/whm.htm online.

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1) Excerpt from June 1, 2021 news release regarding Tarnis Copper-Silver Project, Namibia:

White Metal Research Reveals Epunguwe Target Area with Historical Drilling of 1.47% Cu and 11.7 g/t Ag over 27 Metres, Located 5 km North of the Okohongo Cu-Ag Deposit, Namibia

Thunder Bay, Ontario, June 1, 2021: White Metal Resources Corp. (TSXV:WHM) (“White Metal” or the “Company”) is pleased to announce that ongoing research by the Company has uncovered historical percussion drilling that reported 27.0 m of 1.47% Cu and 11.7 g/t Ag at the Epunguwe Target area, located about 5 km north-northwest of the northern end of the Okohongo Cu-Ag Deposit, northwest Namibia. Details of the historical drilling results from the Epunguwe Target area are provided in Table 1.
Historical reporting describes the Epunguwe Target area as a northwest trending, roughly three kilometre by half kilometre area of soil geochemical anomalies, as well as copper mineralization exposed at surface and in trenches along a significant syn-sedimentary, basinal growth fault. Mineralization is described as structurally-controlled and hosted by conglomerates (sandstones) of the basal Nosib Group at or near the contact with overlying Ombombo Subgroup rocks; Lower Omao Formation siltstone and Lower Omao Formation dolostone also host mineralization (INV Metals Inc. Report, March 21, 2012, filed on SEDAR). To the Company’s knowledge, no work has been completed in this area since 2012.

Michael Stares, President & CEO of the Company, stated, “I am extremely pleased to report this additional data and information from the Okohongo Copper-Silver Project, which gives me further assurance that there is still room to grow and find additional resources on the Property. Although there is sparse historical drilling north of the Okohongo Copper-Silver Deposit, these stratiform sedimentary hosted copper systems have a tendency to pinch and swell, and knowing from the historical data that there is a 3 km by half a km wide soil geochemical anomaly in the area of the Epunguwe Target area, leads me to think that there is still a lot of potential to find more copper silver mineralization. I should add that White Metal will remain focussed on progressing the Tower Stock Gold Property in Ontario Canada, but that the Okohongo Copper-Silver Property is still one of our key assets.”

Historically, exposed copper mineralization in the Epunguwe Target area attracted the attention of exploration groups since the 1970s. Previous work includes General Mining soil surveys from the 1970s, Mount Isa Mining (“MIM”) drilling in the late 1990s (KAP series holes), and Teck mapping, sampling, geophysics and drilling (TC series holes) in approximately 2006-2007. The primary target of surface work and historical drilling in the Epunguwe Target area has been the down-dip extension of copper-silver mineralization exposed in trenches that straddle the Nosib Group-Ombombo Subgroup contact (INV Metals Inc. Report, March 21, 2012, filed on SEDAR).

Copper mineralization at the Epunguwe Target area occurs in similar stratigraphy to that described at the Okohongo Cu-Ag Deposit. At Okohongo, mineralization is concentrated in a dark-grey to grey-green phyllitic siltstone-shale interbedded with dolomite of the Lower Omao Formation that is conformably sandwiched between the underlying red beds of the Nosib Group and overlying carbonates of the Lower and Upper Omao Formations, referred to colloquially as the Okohongo Horizon (INV Metals Inc. Report, March 21, 2012, filed on SEDAR).

The Company views this new data and information as significant in its continuous exploration efforts to trace copper-silver mineralization north and south from the Okohongo Cu-Ag Deposit. The Company has already initiated exploration work on the Property to evaluate the Epunguwe Target area and several other copper showings along the greater northern trend.

A qualified person has not done sufficient enough work to verify the historical assay results and technical information reported herein.

Qualified Person
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 (TSX-V: WHM):
White Metal Resources Corp is a junior exploration company exploring in Canada and southern Africa. For more information about the Company please visit www.whitemetalres.com.

On behalf of the Board of Directors of White Metal Resources Corp.

"Michael Stares"
President & CEO, Director

For further information contact:
Michael Stares
President & CEO, Director
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 358-2420

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections

...click here to view full copy of this release from source

Readers are encouraged to also view the May 18, 2021 news release on the Tarnis Copper-Silver Project: "White Metal Reports 23.0 Metres of 2.31% Cu, 46.3 g/t Ag Including 4.0 Metres of 4.74% Cu, 65.1 g/t Ag from Final RC Drilling Results, Taranis Copper-Silver Project, Namibia"

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2) Excerpt from May 25, 2021 news release regarding DorWit Copper-Silver Project, Namibia:

White Metal Partner Noronex Outlines Wide-Spread Copper Targets, DorWit Copper-Silver Project, Namibia

Thunder Bay, Ontario, May 25, 2021: White Metal Resources Corp. (TSXV:WHM) (“White Metal” or the “Company”) is pleased to provide an update from its Australian joint venture partner Noronex Limited (ASX: NRX) (“Noronex”) on their current exploration program at the DorWit Copper-Silver Project (the “Property” or “Project”) in Namibia. The Namibian Project comprises three Exclusive Prospecting Licences (EPLs) that cover 78,000 hectares, referred to as the Witvlei (EPL 7028 and EPL 7029) and Dordabis (EPL 7030) properties. The Project is prospective for sedimentary hosted Cu-Ag mineralisation within the prolific Kalahari Copper Belt that spans Namibia and Botswana.

Highlights from the Noronex exploration program (see Noronex ASX news release 12 May 2021) include:

Final data received from the airborne electromagnetic (EM) survey.

High priority targets now identified for a large scale sediment hosted copper deposit that have never been drill tested, including:

a 2.5 by 1.2 km copper in soil anomaly in an altered structural zone south of Okasewa.

a 1.0 x 0.7 km copper in soil anomaly west of historical drill intercepts at Gemboksvlei.

a new area at Otjiwaru with a 1.5 km strike soil anomaly.

new zones at Dalheim, Okasundu and Christiadore prospect regions.

Trial IP survey is planned at the known deposit of Okasewa to define its signature, determine the nature of the EM anomalies and to cover large untested copper soil anomalies.

Historical multi-element geochemical surveys, including over seven thousand soil samples completed in 2009, have been compiled and interpreted. This sampling post-dated all previous drilling and geochemical anomalies were never followed up.

A GIS database has now been prepared incorporating results of all historic work and recent geophysical surveys with satellite interpretation and structural mapping.

A program of over fifty holes is being planned in July/August to test these targets.

First JORC Code (JORC 2012) Mineral Resource Estimates on the Company’s four deposits in the Namibian DorWit Project; Malachite Pan, Okasewa, Christiadore and Koperberg (see Noronex ASX news release dated 8 March 2021).

Michael Stares, President & CEO of the Company, remarked, “White Metal is delighted to have such a good partner as Noronex working with us in Namibia. Noronex has done some exceptional work to date, including the completion of a heliborne EM survey and especially in tracking down a historical soil geochemical survey, both of which will aid tremendously in advancing the Project. I am excited for the start of the Phase 1 drilling program and look forward to reporting all results to our shareholders. The price of copper and silver remains strong and, as we know, copper is one of the more important “green energy” metals, so I am confident that its value will remain strong for some time to come.”

The following was reported by Noronex on 12 May, 2021. Please visit the White Metal website for additional information, including maps www.whitemetalres.com.

Airborne EM Survey
Final data has been received from the airborne electromagnetic (EM) survey recently completed over the 780 square km tenement package. The survey was flown on 200 m spaced lines oriented in a northwest-southeast direction, perpendicular to regional geological strike, providing excellent geological and structural information. The final data is now being processed to interpret the third dimension of the conductivity readings and gain deeper information on potential deeper targets.

Trial ground IP survey is planned at the Okasewa deposit to define the signature of known mineralisation, EM anomalies and cover large untested copper soil anomalies. Based on these results, further IP surveys may be completed at other prospects and infill anomalous areas for final drill hole targeting.

Geochemistry
A comprehensive historical soil geochemistry survey has been acquired, with 7,257 samples analysed for multi-element results in 2009 by WAGE. The western Witvlei region comprising 19,527 hectares of the company’s 78,000 hectares was covered on 400 m line spacings with 80 m sample points. Selected infill surveys were completed at 200 and 100 m line spacing with 40 m samples.

The data has been levelled against iron and lithology with target areas along strike from known deposits being defined especially in major structural corridors with intense alteration. Sampling was ‘post’ all previous drilling and never followed up, despite defining these large, strong untested copper anomalies in prospective horizons. Historical plans have been located with previous mapping and drilling captured and included in the target definition. Field mapping and follow up soil sampling is planned to finalise planned drill sites.

Satellite Imagery and Structural Mapping
Remote sensing data using ASTER and Sentinel 2 images were utilised by Global Ore Discovery to identify alteration anomalies and link to the known mapping. Mineral intensity mapping utilising the composition of alteration minerals has defined broad northwest-southeast trending corridors of intense alteration associated with the known mineralisation. Detailed structural mapping is now underway using this high quality imagery to provide a base map for targeting drilling onto prospective structural prepared trap sites.

Drilling Plans
Drilling is planned to test a number of these high priority targets to discover further sediment hosted copper mineralisation at shallow depth. Noronex are defining potential structural trap sites by utilising basin modelling and analogous mineralised sedimentary copper basins. Target areas, where oxidised copper rich fluids have interacted with the reduced conductive horizons are defined along major cross-cutting mineralised structures.

The initial campaign will comprise fences of angled reverse circulation (RC) drill holes to between 150 and 200 m depth. The drill fences will cross the main copper geochemistry targets in favourable geological and geophysical zones.

Further zones will be followed up in the field and potentially also drill tested. Anomalies of over 500 m by 500 m are highlighted on the Otjiwarumendu and Christiadore farms, strong copper anomalies are also defined, with over a one-kilometre strike on the Dalheim and Okasundu prospects in the East Witvlei tenement EPL7029. Work continues on the Dordabis area with soil sampling being planned on EPL 7030.

A program of fifty holes for 10,000 m of drilling is planned at four or five of the prospects. Field evaluation of planned sites will commence this month. Diamond drilling is expected to follow up on these regional RC hole fences to define the style and character of the geology and mineralisation.

Qualified Person
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.

...click here to view full copy of this release from source

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3a) See May 13, 2021 news release regarding Tower Stock Gold Project, Ontario, Canada:

White Metal 3D-IP Geophysical Survey Correlates with New Ellen Zone Gold Discovery and Provides Multiple Targets for Phase 2 Drilling Program at Tower Stock Gold Project, Ontario

Thunder Bay, Ontario, May 13, 2021: White Metal Resources Corp. (TSXV:WHM) (“White Metal” or the “Company”) is pleased to report that it has received the final report in regards to the DasVision 3D Induced Polarization (“IP”) survey completed by Abitibi Geophysics (“Abitibi”) on the Tower Stock Gold Project (the “Property” or the “Project”). The Property, which until now has not seen any exploration activity for more than eight years, is located about 40 km west-northwest of the port city of Thunder Bay, Ontario and covers approximately 1,968 hectares.

The 3D-IP survey revealed a number of anomalies with the most notable anomaly, TS-02, encompassing the area of the newly discovered Ellen Zone (see Company news release dated April 20, 2021). This anomaly exhibits a broad arcuate shape covering approximately 750 x 300 metres and appears to flank the western edge of the Tower Mountain Intrusive Complex (“TMIC”). It can be traced as far north as the southeast end of the U-V Zone and encompasses the A Zone and the Bench Zone to the south and east, respectively. The Ellen Zone appears to flank the western edge of the IP anomaly and results returned from drill hole TM-21-94 and a number of gold-bearing surface samples, suggests a direct correlation with gold mineralization. This anomaly also correlates with a high gold index according to the interpretation completed by Abitibi (Gold Index = (chargeability2 x resistivity) / 1000). The TS-02 anomaly is ranked as a high priority target due to the inclusion and proximity of known gold occurrences and will require extensive surface work and follow up drilling.

Another high priority anomaly, TS-04, is located about 300 metres northeast of the eastern end of the U-V Zone, exhibiting a combination of high changeability/resistivity and is traceable for about 1 km to the southeast. The northern extent of the anomaly underlies the area of historical diamond drill hole TM-02-05, completed by ValGold Resources Ltd., which intersected 6.0 metres grading 2.4 g/t Au.

Michael Stares, President and CEO of White Metal, commented, “We are very pleased with the outcome of the 3D-IP survey, it has added to our already expanding data base and will give us additional targets for follow-up in order to explain the sources of the anomalies. It is particularly exciting to see that one of the anomalies, TS-02, covers the area of the new Ellen Zone and I look forward to following up on this particular anomaly. I am very confident that our exploration work will continue to enhance the Property and advance our understanding of the new and known gold targets within the Tower Stock Gold Project”.

In fall 2020, White Metal personnel prospected the Ellen Zone area, which is largely covered by overburden, and returned anomalous gold values in rock grab samples ranging from weakly anomalous (>50 ppb Au) to 1300 ppb Au (1.3 g/t Au). Discovery drill hole TM-21-94 was set up approximately 70 metres west of the surface rock grab samples and drilled in a northeast direction at a 60 degrees dip. The dip and strike of the Ellen Zone is not precisely known but based on historical data and information, it is thought that this zone may strike roughly in a southeast-northwest direction.

Additional information on the Tower Stock Gold Project can be found at www.whitemetalres.com.

The Company also announces that, subject to acceptance for filing by the TSX Venture Exchange, it has retained IR Pro Communications Inc. (“IRPC”) of Vancouver, British Columbia to provide investor relations services. IRPC has over twenty years of experience specializing in a full range of investor relations services representing a wide array of public clients and assisting in broadening their shareholder base.

IRPC will be responsible for assisting White Metal with the expansion of its investor relations and corporate communications, including but not limited to, acting in a liaison capacity between the directors and senior officers of the Company, the shareholders and persons registered to trade in securities, dissemination and circulation of news releases and to circulate to investors, at their request, material financial or information documentation of the Company.

White Metal and IRPC are at arm’s length and have entered into a written agreement for an initial three month term commencing May 6, 2021. IRPC does not presently have any interest, direct or indirect, in White Metal or its securities. IRPC will receive compensation in the sum of $5,000 per month and will also be granted stock options (“Options”) under White Metal’s incentive stock option plan to purchase up to 100,000 common shares of White Metal’s (“Shares”) at a deemed price to be determined at a later date. The Options are for a term of five years (unless terminated earlier under the plan) and vest in equal quarterly amounts over the first year of the term.

A qualified person (“QP”) has not done sufficient enough work to verify the historical assay results and technical information reported herein. All drill hole intersections represent drill core lengths (intervals) and are not true widths.

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 National Instrument 43-101.

About White Metal Resources Corp (TSX-V: WHM):
White Metal Resources Corp is a junior exploration company exploring in Canada and southern Africa. For more information about the Company please visit www.whitemetalres.com.
On behalf of the Board of Directors of White Metal Resources Corp.

"Michael Stares"
President & CEO, Director

For further information contact:
Michael Stares
President & CEO, Director
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 358-2420

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections

...click here to view full copy of this release from source

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3b) Excerpt from May 11, 2021 news release regarding Tower Stock Gold Project, Ontario, Canada:

White Metal Expands Bench Zone, Extends Strike Potential to 2.1 km and Plans for Additional Drilling at the Tower Stock Gold Project, Ontario

Thunder Bay, Ontario, May 11, 2021: White Metal Resources Corp. (TSXV:WHM) (“White Metal” or the “Company”) has received the final gold assay results from the Phase 1 2021 winter drilling program. Core assays from the 2021 drilling program clearly indicate the excellent potential for the Tower Stock Gold Project (the” Project” or the “Property”), which in addition to historical core assays show a broad horizon of low grade gold mineralization that spans for over 2.1 kilometres. The Company also sees great potential for high grade gold shoots within the broad intercepts of lower grade gold mineralization, such as those recorded in recently announced drill hole TM-21-94 from the newly discovered Ellen Zone (see Company news release dated April 20, 2021). The Property covers approximately 1,968 hectares and is located about 40 km west-northwest of the port city of Thunder Bay, Ontario.

The 2021 winter drilling program has further substantiated the Property’s potential and as a result the Company is planning a follow-up drilling program to further test the large tonnage potential of the low grade gold zones and to determine the extent of prospective higher grade gold zones. It is very important to note that the alteration associated with lower grade gold mineralization is intense, pervasive and shows good continuity, suggesting there is not only excellent potential to find higher grade zones at surface but also at depth. Results from the recently completed Abitibi Geophysics’ DasVision Induced Polarization (“IP”) survey also supports this interpretation. Further data and information on the Tower Stock Gold Project can be found at www.whitemetalres.com.

Highlights from the 2021 Phase 1 drilling program and recently completed IP geophysical survey include:

Confirmation of low grade gold mineralization within an intense and pervasive alteration zone, extending over 2 km along strike;
Discovery of the Ellen Zone, a new high grade gold zone, reporting 1.7 g/t Au over 82.50 m including 3.0 g/t Au over 45 m (TM-21-94: 10.00 to 92.50 m), and open in all directions;
Excellent correlation between the Ellen Zone discovery and priority anomaly “TS-02” from the DasVision IP survey;
DasVision IP survey outlined numerous new targets for follow-up prospecting, trenching and drilling;
Drill hole TM-21-95 extended the historical Bench Zone to the south by a minimum of 75 metres;
Compilation of all historical data and completion of the DasVision IP survey provide excellent drill targets within “gaps” between gold zones that are up to 500 m in strike; and
The highly prospective H Zone requires re-mapping and additional drilling to test the new interpretation that this zone dips to the southeast at 50-60 degrees.

Michael Stares, President and CEO of White Metal, commented, “I have never seen such an extensive system of gold mineralization covering such a large area. Including the 800+ metre gold zone, we now have approximately 2.1 km of aggregate strike length that will require substantial drilling. Additionally, it should be noted that drill hole TM-07-58, which assayed 5.41 g/t Au over 6 m and is located about 450 m south of drill hole TM-21-95, the most southerly hole of the 2021 drilling program, has not seen any recent work. Therefore, exploration crews will be mobilized later this month to evaluate this area in more detail. There is still a lot of work that needs to be done, including detailed prospecting and mapping, but most importantly infill drilling to further explore for the higher grade sections within the principal gold zones. I look forward to reporting our progress to our shareholders when news becomes available”.

The Company is also pleased to announce that it has encountered significant widths of low grade gold mineralization (>0.5 g/t Au) in drill hole TM-21-97. This was the last diamond drill hole of the program, designed to test the down-dip and southwest extension of the Bench Zone, returning three broad and separate intervals of gold mineralization (Table 1). These positive results clearly demonstrates that the Bench Zone is open at depth and along strike to the northwest, southwest, and southeast.

Drill hole TM-21-97 is located about 400 m southeast of drill hole TM-21-94, which collared in the newly discovered Ellen Zone and returned a broad interval of 1.7 g/t Au over 82.5 metres (from 10.0 to 92.5 m), including 3.0 g/t Au over 45 metres (from 10.00 to 55.00 m) and 59.90 g/t Au over 1.5 metres (from 16.00 to 17.50 m).

Drill hole TM-21-95, located 420 metres southeast of drill hole TM-21-97, exhibits similar alteration and auriferous pyrite mineralization to that observed in TM-21-97 and is believed to be the southeast extension of the Bench Zone. Drill hole TM-21-95 returned two separate gold intervals (Table 2).

The locations and results from holes TM-21-94 and TM-21-95, suggest a potential strike length and exploration target of >800 m which has received very little exploration attention. The prospectivity of this region is further supported by its spatial association with a strong chargeability anomaly outlined from the recently completed IP survey (see Company news release dated February 17, 2021). The Company is very pleased with the latest round of drill results and firmly believes that there is significant room to expand and discover further resources within the Tower Stock Gold Project, which until now has not seen any exploration activity for more than eight years.

Sample Analysis
Core samples were collected from half-split drill core and delivered to Activation Laboratories Ltd. (Actlabs) in Thunder Bay, Ontario by the Company. Samples were first analysed with Fire Assay Package 1A1 – Au Fire Assay - INAA – 30 gram sample and Multi Element Package ICP-MS Ultra trace 1. Subsequently, samples with Au greater than 5.0 g/t (above Au detection limit), were analysed with Fire Assay Package 1A3 – AA-Au (Au- Fire Assay Gravimetric) – 30 gram sample. A Quality Control/Quality Assurance (“QA/QC”) program consisting of the regular insertion of Certified Reference Material copper standards and blanks into the sample stream by the Company was in place as was the industry standard internal QA/QC practices used by Actlabs.

A Qualified Person (“QP”) has not done sufficient enough work to verify the historical assay results and technical information reported herein. All drill hole intersections represent drill core lengths (intervals) and are not true widths.

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 National Instrument 43-101.

About White Metal Resources Corp (TSX-V: WHM):
White Metal Resources Corp is a junior exploration company exploring in Canada and southern Africa. For more information about the Company please visit www.whitemetalres.com.

...click here to view full copy of this release from source

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4) Excerpt from recent Mining MarketWatch Journal review (https://miningmarketwatch.net/whm.htm):

Valuation Commentary: White Metal Resources Corp. (TSX-V: WHM) (US Listing: TNMLF) (Frankfurt: CGK1) is a Canadian-based junior explorer mining company that has graduated from a pure project-generator model to now advancing two major projects; 1) its recently optioned Tower Stock Gold Project in Ontario, and 2) its 95%-owned Okohongo Copper-Silver Project in Namibia, in addition to holding an array of other projects.

White Metal Resources Corp. appears undervalued relative to inherent latent intrinsic value

WHM.V currently has a nominal market cap of ~C$14M (126,724,750 shares trading at ~C$0.11, click here to view a fully diluted schedule of warrants). The share price of WHM.V is apt to appreciate from the current trading price as continued news flow occurs, and as the significance of what White Metal possesses is better appreciated by the market, reflecting the significant growing intrinsic value on its many projects. The Company is positioned this Q2-2021 to aggressively advance its flagship Tower Stock Gold Property in Ontario and its Taranis (Okohongo) Copper-Silver Project in northwestern Namibia, which includes taking the historical mineral resources of the Okohongo Copper-Silver Deposit to NI 43-101 compliance.

Transformation of White Metal Resources Corp.: The Company has a lot of moving parts as it also retains a vast portfolio of quality projects (see listing below) from its approach as a project generator. As is often the case with project generators, the sum of the parts is greater than the whole until market awareness kicks-in -- over time if management makes the right moves, cyclical markets cooperate, and geological/exploration success prevails, astute investors can be handsomely rewarded, WHM.V is certainly now at an inflection point. About 3 years ago, when commodities were out of favour, management of WHM.V decided to make a play for advanced copper-silver projects in Namibia -- instantly transforming WHM.V into a company with tonnage in the ground on two copper-silver projects (Okohongo & DorWit). This was a departure from advancing grassroots projects as a project generator. Several years later the opportunity to acquire Tower Stock Gold Project was presented through a contact and as a result this exciting gold project pushed the Namibian copper-silver projects off the front burner and DorWit was optioned-out (see details below, it is a valuable asset that the JV partner is advancing with no risk/cost to WHM.V which retains 25% ownership). Now factor in the other project generator assets of White Metal Resources and the inherent latent intrinsic value of WHM.V is immense.

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The following is a synopsis/categorized listing of each project of White Metal Resources, followed by a more detailed look the two major projects White Metal is advancing on its own.

Major project #1) Recently Optioned Tower Stock Gold Project located in the Shebandowan Greenstone Belt ~40km west-northwest of the port city of Thunder Bay, Ontario, Canada. The project hosts an extensive syenite-associated disseminated gold system, a type similar to deposits in the Kirkland Lake and Malartic gold camps, and the Young-Davidson Mine (Alamos Gold). The project has a historical resource on the UV & Bench zones which has seen historical drilling from the likes of Inco, Noranda, Avalon, and finally ValGold -- previous work over the last 30 years has only scratched the surface (~200 m depths) in select areas along the contact region with the intrusive complex, and many holes ended in target gold mineralization. White Metal's geological team is taking an approach that looks at the big picture multi-million ounce gold potential of the syenite intrusive rock using a modern systematic approach and with an improved understanding. The project is currently wrapping-up a ~4,000 m drilling program on multiple zones (see exploration updates below, the technical team appears dialled-in having discovering a new gold zone right off the bat). The Company is also conducted a DasVision Induced Polarization (IP) survey over exploration targets, the survey was designed to provide insight at depths of +800m to get a handle on structural controls, and allow for 3D inversions and integration into its exploration model. The Company is targeting a ~2 km x 1.5 km area of complex alteration that has incredible gold endowment throughout; multiple occurrences have been discerned with many rock grab samples assaying >1.0g/t Au up to 16.2 g/t Au. There is anomalous gold everywhere; e.g. of 299 samples taken last summer across the project only 5 had no gold, and when >1 g/t Au samples are overlaid across the claim map many untested and underexplored areas are apparent -- White Metal Resources Corp. is highly prospective for major gold discovery.

Figure 1a. (above) Tower Stock Gold Project past drilling & mineralized zones and inset location map (note the impressive large swaths of quality mineralization; e.g., TM-04-03: 19.5 m of 47.22 g/t Au at 64.5 m, including 1.5 m of 588.89 g/t Au at 73.5 m. The project is in a stable mining-friendly jurisdiction, in a geological greenstone belt setting with proximal past gold producers and several gold deposits, and near the port city of Thunder Bay, surrounded by excellent infrastructure.

Exploration updates on Tower Stock Gold Project;

See May 13, 2021 Company release entitled White Metal 3D-IP Geophysical Survey Correlates with New Ellen Zone Gold Discovery and Provides Multiple Targets for Phase 2 Drilling Program at Tower Stock Gold Project, Ontario; The 3D-IP survey revealed a number of anomalies with the most notable anomaly, TS-02, encompassing the area of the newly discovered Ellen Zone (see Company news release dated April 20, 2021). This anomaly exhibits a broad arcuate shape covering approximately 750 x 300 metres and appears to flank the western edge of the Tower Mountain Intrusive Complex (“TMIC”). It can be traced as far north as the southeast end of the U-V Zone and encompasses the A Zone and the Bench Zone to the south and east, respectively. The Ellen Zone appears to flank the western edge of the IP anomaly and results returned from drill hole TM-21-94 and a number of gold-bearing surface samples, suggests a direct correlation with gold mineralization. This anomaly also correlates with a high gold index according to the interpretation completed by Abitibi (Gold Index = (chargeability2 x resistivity) / 1000). The TS-02 anomaly is ranked as a high priority target due to the inclusion and proximity of known gold occurrences and will require extensive surface work and follow up drilling. Another high priority anomaly, TS-04, is located about 300 metres northeast of the eastern end of the U-V Zone, exhibiting a combination of high changeability/resistivity and is traceable for about 1 km to the southeast. The northern extent of the anomaly underlies the area of historical diamond drill hole TM-02-05, completed by ValGold Resources Ltd., which intersected 6.0 metres grading 2.4 g/t Au.

The following is a synopsis of Phase 1 drilling highlights, from the Company release dated May 11, 2021 entitled White Metal Expands Bench Zone, Extends Strike Potential to 2.1 km and Plans for Additional Drilling at the Tower Stock Gold Project, Ontario; the Company has received the final gold assay results from the Phase 1 2021 winter drilling program. Core assays from the 2021 drilling program clearly indicate the excellent potential for the Tower Stock Gold Project (the” Project” or the “Property”), which in addition to historical core assays show a broad horizon of low grade gold mineralization that spans for over 2.1 kilometres. The Company also sees great potential for high grade gold shoots within the broad intercepts of lower grade gold mineralization, such as those recorded in recently announced drill hole TM-21-94 from the newly discovered Ellen Zone (see Company news release dated April 20, 2021). The Property covers approximately 1,968 hectares and is located about 40 km west-northwest of the port city of Thunder Bay, Ontario.

The 2021 winter drilling program has further substantiated the Property’s potential and as a result the Company is planning a follow-up drilling program to further test the large tonnage potential of the low grade gold zones and to determine the extent of prospective higher grade gold zones. It is very important to note that the alteration associated with lower grade gold mineralization is intense, pervasive and shows good continuity, suggesting there is not only excellent potential to find higher grade zones at surface but also at depth. Results from the recently completed Abitibi Geophysics’ DasVision Induced Polarization (“IP”) survey also supports this interpretation. Further data and information on the Tower Stock Gold Project can be found at www.whitemetalres.com.

Highlights from the 2021 Phase 1 drilling program and recently completed IP geophysical survey include:

Confirmation of low grade gold mineralization within an intense and pervasive alteration zone, extending over 2 km along strike;
Discovery of the Ellen Zone, a new high grade gold zone, reporting 1.7 g/t Au over 82.50 m including 3.0 g/t Au over 45 m (TM-21-94: 10.00 to 92.50 m), and open in all directions;
Excellent correlation between the Ellen Zone discovery and priority anomaly “TS-02” from the DasVision IP survey;
DasVision IP survey outlined numerous new targets for follow-up prospecting, trenching and drilling;
Drill hole TM-21-95 extended the historical Bench Zone to the south by a minimum of 75 metres;
Compilation of all historical data and completion of the DasVision IP survey provide excellent drill targets within “gaps” between gold zones that are up to 500 m in strike; and
The highly prospective H Zone requires re-mapping and additional drilling to test the new interpretation that this zone dips to the southeast at 50-60 degrees.

The following image is from the Company release dated April 20, 2021 entitled White Metal Drills New Gold Zone Discovery Yielding 82.5 Metres of 1.7 g/t Au, Including 45 Metres of 3.0 g/t Au at the Tower Stock Gold Project, Ontario. The Company announced a new Zone discovery (called the Ellen Zone) and also reported additional results from diamond drill holes targeting expansion of historical zones and new target areas determined from the fall 2020 prospecting program. The new Ellen Zone gold discovery (hole TM-21-94) is located about 340 metres south of the U-V Zone and about 300 metres north of the Bench Zone. The area of the new discovery has seen no historical drilling and is open in all directions.

Figure 1b. (above) Location map of new discovery zone, named the 'Ellen Zone', is located in between the main gold zones in an area of no previous drilling. This new new gold zone discovery affirms the technical teams improved understanding of the deposit and potential to build serious gold ounces quickly.

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Major project #2) 95%-owned Okahongo (Tarnis Deposit) Copper-Silver Project 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 (CAC) deposits of Zambia and the Democratic Republic of the Congo. White Metal's Okohongo 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 (INV Metals Inc. NI 43-101 Technical Report, Effective Date March 31, 2011). This February-2021 White Metal Resources Inc. completed a 28 hole, 3,622 m drilling program and is now proceeding to bring the historical resource to NI 43-101 compliance and produce a technical report on the Okohongo Cu-Ag Deposit (expected Q2-2021). With both copper and silver now in favour as desirable elements for the modern/future electrical economy, the Taranis Cu-Ag Deposit resource alone justifies a sizeable marketcap for WHM.V beyond the current. The Taranis Deposit is apt to attract suitors looking to option the project from White Metal Resources and take advantage of the large exploration expansion potential to build on the coming resource. The June 1, 2021 release "White Metal Research Reveals Epunguwe Target Area with Historical Drilling of 1.47% Cu and 11.7 g/t Ag over 27 Metres, Located 5 km North of the Okohongo Cu-Ag Deposit, Namibia" affirms the large potential to grow the deposit; "these stratiform sedimentary hosted copper systems have a tendency to pinch and swell, and knowing from the historical data that there is a 3 km by half a km wide soil geochemical anomaly in the area of the Epunguwe Target area."

[click to view PDF corporate overview on Okahongo / Tarnis Deposit]

● See May 18, 2021 related exploration update news "White Metal Reports 23.0 Metres of 2.31% Cu, 46.3 g/t Ag Including 4.0 Metres of 4.74% Cu, 65.1 g/t Ag from Final RC Drilling Results, Taranis Copper-Silver Project, Namibia".

● See April 8, 2021 related exploration update news "White Metal Reports 45 Metres Grading 2.02% Cu and 33 g/t Ag from Second Set of RC Drill Hole Results, Taranis Copper-Silver Project, Namibia".

● See March 23, 2021 related exploration update news "White Metal Reports 1.54% Cu and 36 g/t Ag over 31 Metres from the Taranis Copper-Silver Project, Namibia".

Figure 2. (left) Location of Okohongo (Dorwit is shown too, Dorwit is a project WHM.V has optioned out under JV already), the regional copperbelts are shaded in yellow.

- See a more detailed overview of the Okohongo Tarnis Deposit further below.

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#3) White Metal's Project-Generator portfolio of Joint Ventures -- the following are projects White Metal has optioned-out and are being advanced by others mining companies carrying the risk/cost:

a) DorWit (JV) Copper-Silver Project, Namibia: Option Partner, Noronex, is currently earning up to a 70% equity interest (with an option to acquire up to 95-100%). WHM.V received cash and shares and retains 25% ownership up to the partners earn in phase of the agreement. Located in the Kalahari Copper Belt, six historical copper deposits occur within these three licences along with other zones with anomalous copper in historical drill core intercepts which the Company believes can be expanded upon through future exploration. Exploration update: Excerpt from May 26, 2021 news release entitled "White Metal Partner Noronex Outlines Wide-Spread Copper Targets, DorWit Copper-Silver Project, Namibia; Michael Stares, President & CEO of the Company, remarked, “White Metal is delighted to have such a good partner as Noronex working with us in Namibia. Noronex has done some exceptional work to date, including the completion of a heliborne EM survey and especially in tracking down a historical soil geochemical survey, both of which will aid tremendously in advancing the Project. I am excited for the start of the Phase 1 drilling program and look forward to reporting all results to our shareholders. The price of copper and silver remains strong and, as we know, copper is one of the more important “green energy” metals, so I am confident that its value will remain strong for some time to come.” Noronex is also expecting to update the historical JORC Code 2012 mineral resource estimates which is currently being completed by MSA Group, with initial results expected soon. [click to view PDF corporate presentation on DorWit]

b) Startrek (JV) Au-Sb Project “Epithermal Gold” Newfoundland: Option Partner, 1259542 BC Ltd, can earn up to a 70% interest, [click to view PDF corporate presentation of Startrek], [click to view White Metal's web page on Startrek]. Note: The area has heated-up dramatically of late as other gold mining companies near Startrek have released impressive headline gold results (e.g. Queensway Property of NewFound Gold, and Moosehead Gold Project of Sokoman).

c) Far Lake (JV) Copper-Silver Project Shebandowan Area, Northwestern Ontario: In May 2020, WHM.V signed a letter of intent with Benton Resources Inc. (“Benton”) pursuant to which Benton may earn up to a 70% interest by paying the Company $205,000 ($25,000 received), issuing to the Company 1.6 million Benton common shares (300,000 received), and completing $1 million of exploration expenditures at Far Lake over a period of four years. Far Lake, located about 75 km northwest of the port city of Thunder Bay and north of the Shebandowan Greenstone Belt. Benton has recently commenced its second phase of drilling at Far Lake [click to view March 4, 2021 Exploration Update] [click to view corporate presentation on Far Lake] [click to view White Metal's web page on Far Lake] [click to view Benton Resources' overview of Far Lake -- Note: Benton Resources lists Far Lake as its "Flagship" project].

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#4) White Metal's Project-Generator portfolio of properties available for Option (in Ontario, Canada) -- White Metal Resources owns a sizeable portfolio of high-value projects in Ontario that are currently available for Option:

a) Vanguard East and West Cu-Zn-Au-Ag Project & Iris -- Available for Option: Located about 150 km west of the port city of Thunder Bay and situated in the Shebandowan Greenstone Belt. The Vanguard West deposit consists of a historical mineral resource (non-43-101 compliant) containing 200,000 tons at 1.36% Cu, 1.5% Zn and 8.6 g/t Ag. The Vanguard East deposit consists of a historical mineral resource (non-43-101 compliant) containing 1.8% copper, 4.55% Zn, 6.8 g/t Ag and 5.0 g/t Au. [click to view related corporate presentation]

b) Seagull Lake PGE-Cu-Ni Project -- Available for Option: Located approximately 100 km north of the port city of Thunder Bay, about 50 km south of Impala Canada’s Lac des Iles Mine (previously North American Palladium), and about 28 km north of the Clean Air Metals Inc. Cu-Ni-PGE projects, previous discoveries made by Rio Tinto and Panoramic Resources (previously Magma Metals). The Seagull covers the Seagull Lake Intrusion (“SLI”), a 10 km diameter, circular intrusive situated in the Nipigon Plate. The Nipigon Plate area has been compared to the Noril'sk Region of Siberia, Russia, and is considered to be highly prospective for the discovery of new Cu-Ni-PGE deposits. Three styles of PGE mineralization have been identified in the SLI: (1) near surface, PGE-rich detrital “black sands”; (2) magnetite associated, PGE-rich layers or “reef-type”; and, (3) sulphide associated, basal Cu-Ni-PGE mineralization, interpreted as “Noril’sk-type”. Although the detrital and reef-type mineralization was the first style known in the SLI, the discovery of Noril’sk-type Cu-Ni-PGE sulphide mineralization became the focus for subsequent exploration programs, which reported from diamond drilling 3.6 g/t Pt+Pd, 0.34% Cu and 0.21% Ni over 2.1 m and 1.04 g/t Pt+Pd, 0.14% Cu and 0.16% Ni over 16.0 m (from Pettigrew, 2002). The SLI also contains anomalous concentrations of additional platinum group elements rhodium, iridium, osmium, and ruthenium. [click to view related corporate presentation]

c) Pen Au Property -- Available for Option: The Peninsula Gold Property is located ~275 km east of Thunder Bay in the Geraldton Beardmore Greenstone Belt, near Canterra Gold/Premier Gold Mines Hard Rock Deposit. [click to view related corporate presentation]

d) Umex Cu, Ni, PGE, Ag Property -- Available for Option: Located in the Pickle Lake Greenstone Belt [click to view related corporate presentation].

Figures 3, 4, 5 (below) -- Location maps showing all assets of White Metal:

Ontario Properties

Tower Stock Gold Property, Far Lake (JV), & others

Newfoundland

Startrek Property (JV)

Namibia Properties

95%-Owned Okohongo & Dorwit (JV)

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Below is a closer look at the two main projects that White Metal Resources is advancing on its own.

Tower Stock Gold Project, Ontario -- 100%-Owned,

Located in Conmee Township, ~45 km west-northwest of the port city of Thunder Bay, Ontario.

● Multi-million ounce gold potential: The Tower Stock Gold System is classified as a syenite-associated disseminated gold deposit type similar to deposits in the Kirkland Lake and Malartic gold camps, and the Young-Davidson Mine (Alamos Gold).

Consists of 126 unpatented mining claims and 157 ha of patented lands, covering in total about 1 944 hectares (19.44 square km). [figures are prior to March 15, 2021 land package increase]

Under the terms of the Agreement, White Metal has the option to acquire 100% of the Project subject to a 2.5% underlying royalty on some of the claims comprising the Property by issuing to the Optionor 1,200,000 common shares of the Company and making cash payments totalling $145,000 over a period of three (3) years. White Metal increased the size of the land package in October-2020 with the addition of the Lee Patent, strategically located immediately west of the Bench Zone and south of the U-V Gold Deposit to the north and covers the historical “A-Zone”. The land package was yet again increased with the Anderson Patent agreement, and the Nichols Patent agreement.

Historical Resource Estimation

Table 1. (above) Summary of Historical Resource Estimation -- source: Independent Mineral Resource Estimation, Tower Mountain Gold Deposit, ValGold Resources Ltd.; Prepared by Caracle Creek International Consulting Inc. and Clark Exploration Consulting Inc., Effective February 9, 2006. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources. White Metal is not treating the historical estimate as current mineral resources.

Additional note regarding the resource: With at least 2 km of potential strike between the U-V Zone gold deposit in the northwest and the last recorded exploration drilling (TM-07-58: 6.0m @ 5.42 g/t Au) to the southeast, the Company believes there is ample opportunity to build high-grade gold resources through in-fill drilling, to expand current mineral resources through drilling, and to make new discoveries.

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Click to see video presentation on Tower Stock Gold Project

Video presentation (above) on White Metal Resources' Tower Stock Gold Project [running time 4 min. 36 sec.] Source: PDAC March 8, 2021

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Location

Figure 6. (above) Location map, inset picture of staging area on project.

● Less then 1 km from highway & railway connecting to all of Canada and USA.
● Great access within the property boundary with many trails and roads.
● Port city of Thunder Bay less than 45 km with access to Saint Lawrence Seaway.

Major Mineral Deposits in the Area -- Favourable Geology

Figure 7. (above) Area mineral deposits and historical past producing mines.

Geology

Gold mineralization occurs in volcanic and sedimentary rocks and syenite intrusive rocks associated with the Tower Mountain Intrusive Complex (TMIC).

Classified as a syenite-associated disseminated gold deposit type similar to deposits in the Kirkland Lake and Malartic gold camps, and the Young-Davidson Mine (Alamos Gold).

Pyrite is the main sulphide mineral and is generally an indication of anomalous levels of gold.

Gold mineralization usually controlled by volcanic flows, tuffs and breccias, feldspar porphyries, polymictic conglomerates, syenites and brecciated syenites .

Pyrite concentrations from trace-1% to a maximum of 15% and sometimes associated with Quartz-carbonate ± tourmaline veinlets carry substantial amount of pyrite, whereas quartz and tourmaline with concentrations of pyrite can form the matrix of intrusive breccias.

Figure 8. (right) Alteration and mineralization from the G Zone of Tower Stock Gold Project. There is very little veining that occurs in Tower Stock gold system, the syenite-associated disseminated gold system is broad, and there is anomalous gold throughout the project.

Geological comparisons in terms of potential as these have similar geology to White Metal's Tower Stock Gold Project:

Comparison 1) Young Davidson Mine (Alamos Gold)

Syenite-hosted Young-Davidson gold deposit is located at the western extension of the Cadillac-Larder-Lake deformation zone (CLLDZ), southwest of Kirkland Lake, in the southern Abitibi Greenstone Belt, Ontario, Canada.

Gold predominantly hosted by syenite, and to a lesser extent by Timiskaming sedimentary rocks and mafic volcanic rocks in veins and/or small pervasively altered shear zones.

Underground Resources are ~14.6Mt (Measured and Indicated) at average grade of 2.03 g/t Au.

Underground Reserves of ~39.1Mt (proven and probable) at an average grade of 2.79 g/t Au.

Structurally controlled mineralization present within fault zones within syenite intrusion and adjacent to its margins.

Figure 9. (left) Diagram of intrusive at Young Davidson.

Comparison 2) Beattie Gold Deposit

Syenite-associated Beattie Gold Deposit contains Measured and Indicated Resources of 60.9Mt at 1.59 g/t Au and Inferred Resources of 29.7Mt at 1.51 g/t Au – also located in Abitibi Greenstone Belt.

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Click here to view other examples of Syenite-Associated Au Deposits [PDF].

Tower Stock Gold Project Highlights

● Only a small portion of the Tower Stock Gold Project has been explored.

● Historical drill core intercepts outlining high-grade and low-grade gold zones.

● Room to expand on a multitude of targets over 2 km strike length.

● Host to a variety of gold, sulphide and oxide mineralization found in all Timiskaminglike rocks, particularly in proximity to the TMIC contact aureole.

● Multiple occurrences have been discerned with many grab samples assaying >1.0 g/t Au up to 16.2 g/t Au.

● Potential to host low-grade, bulk tonnage gold mineralization and high-grade veinhosted gold mineralization.

● Numerous drill holes ended in gold mineralization...

Table 2. (above) Summary of drill holes that terminated in gold mineralization (hosted by volcanic rocks)

Gold intercepts South of the Bench Zone: TM-07-56: 58.2 g/t Au over 1.5 m & TM-07-58: 5.4 g/t Au over 6.0 m – (Below the Bench Zone)

Figure 10. (above) Tower Stock Gold Project past drilling & mineralized zones

2020 Sample Program

Figure 11. (above) 2020 sample program observations

Figure 12. (above) Target Area and Highlights of 2020 Sample Program

Figure 13. (above) Areas of Chargability and Targets for further Exploration. Historically most drilling occurred along the edge of the intrusive in select areas, however the entire area is actually highly prospective and underexplored.

Current exploration program

~4000 m drill program began on January-2021;

● May 13, 2021: White Metal 3D-IP Geophysical Survey Correlates with New Ellen Zone Gold Discovery and Provides Multiple Targets for Phase 2 Drilling Program at Tower Stock Gold Project, Ontario

See May 13, 2021 news release:

White Metal 3D-IP Geophysical Survey Correlates with New Ellen Zone Gold Discovery and Provides Multiple Targets for Phase 2 Drilling Program at Tower Stock Gold Project, Ontario

...click here to view full copy of this release from source

● May 11, 2021: White Metal Expands Bench Zone, Extends Strike Potential to 2.1 km and Plans for Additional Drilling at the Tower Stock Gold Project, Ontario (salient details/highlights of this release were already discussed in this article in the introduction section).

● See April 20, 2021 - White Metal Drills New Gold Zone Discovery Yielding 82.5 Metres of 1.7 g/t Au, Including 45 Metres of 3.0 g/t Au at the Tower Stock Gold Project

Figure 1b reprinted (above) Location map of new discovery zone, named the 'Ellen Zone', is located in between the main gold zones in an area of no previous drilling. This new new gold zone discovery affirms the technical teams improved understanding of the deposit and potential to build serious gold ounces quickly.

Table 2.b (above) New Ellen Zone Discovery hole numbers

Figure 14. (above) Tower Stock Property Ellen Zone TM-21-94 [Click Here to Enlarge Image as PDF]

● See March 15, 2021 - White Metal Provides Update on Drilling Program and Options Strategically Located Patent, Tower Stock Gold Project, Ontario

● See March 4, 2021 - White Metal Reports on Exploration Progress and Provides Corporate Update

● See February 24, 2021 release - White Metal Provides Update on Drilling at the Tower Stock Gold Project, Ontario

This project has been drilled on and off for the last 30 years by past operators, however this 2021 was White Metal Resources maiden drill program since acquiring. White Metal has accomplished a range of objectives to date; got a lay of the land, affirmed theories of some previously untested and underexplored zones resulting in the new Ellen Zone Gold discovery, built on quality intercepts in others, and set the stage for proving the big multi-million ounce potential many experts acknowledge is possible. The 3D-IP has some very exciting targets lined up for Phase 2.

It is not uncommon for some of the biggest exploration finds of the past century to have beginnings similar to what White Metal is facing now; most success stories come after a property has changed hands several times, receiving the benefit of keen fresh insight -- click here to see a PDF presentation of how Eskay Creek was discovered via Murray Pezim, after 55 years of past operators.

Abitibi Geophysics’ DasVision Induced Polarization (IP) survey -- covered the main gold zones of the project...

Figure 14. (above) DasVision advantages and ~area surveyed. See May 13, 2021 news release for highlights.

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Okahongo (Tarnis Deposit) Copper-Silver Project, Namibia -- 95%-Owned

See recent Tarnis Deposit exploration update May 18, 2021: "White Metal Reports 23.0 Metres of 2.31% Cu, 46.3 g/t Ag Including 4.0 Metres of 4.74% Cu, 65.1 g/t Ag from Final RC Drilling Results, Taranis Copper-Silver Project, Namibia"

Also see June 1, 2021: White Metal Research Reveals Epunguwe Target Area with Historical Drilling of 1.47% Cu and 11.7 g/t Ag over 27 Metres, Located 5 km North of the Okohongo Cu-Ag Deposit, Namibia

Location

Figure 15. (above) Country location map

Namibia and its Mining Sector - In short Namibia is one of the few places in Africa that is considered a safe, stable, mining-friendly jurisdiction.

OVERVIEW:
Namibia has a stable multi-party democracy with a history of free elections since independence from South Africa in 1990. The Namibian constitution and its political leaders promote and encourage foreign investment.

The country has a well established mining act and an independent legal system. Mining is the largest revenue contributor to Namibia's economy, and is a valued industry by the Namibian government and people.

Chamber of Mines for Namibia are well organized and speak for the Industry.

Namibia’s mining sector is dominated by the production of uranium, gold, diamonds and lead but exploration and development in copper is growing with companies from Australia, the UK and Canada looking at re-opening of copper mines closed since 2008.

Namibia’s Infrastructure

City of Windhoek: Capital of Namibia; social, economic, political, and cultural centre of the country.

Roadways: From the capital city of Windhoek, the Property is accessed by a paved two lane highway to the town of Opuwo, the nearest population centre. From Opuwo, well-maintained gravel roads (C43 and D3710) lead south along the eastern and western boundaries of EPL 7071.

African Copperbelts of Africa and Selected Mines

Figure 16. (above) African Copperbelts of Africa and Selected Mines

Central African Copperbelt

The Central African Copperbelt (CAC) is the largest and most prolific mineralized sediment-hosted copper province known on Earth.

The CAC is host to numerous operating mines and has been worked continuously for the last century.

The CAC has been estimated to host over 5 billion tonnes of copper ore with grades up to 4% Cu.

Many similarities between the Kaoko Copperbelt and Kalahari Copperbelt in Namibia and the CAC.

Ongopolo Mine (Previously the Tsumeb Mine) in Namibia produced about 30 million tons of ore yielding 1.7Mt copper at 4.3% Cu between 1905 and 1996.

Okohongo Copper Project

Located in the Kunene Region of northwestern Namibia, Kaoko Copperbelt

Figure 17. (above) Okohongo Copper-Silver Project location map.

Okohongo Project: Property Description

● EPL 7071 (Taranis Agreement)

● Property extends approximately 11.4 km in an east-west direction and 25.5 km in a north-south direction.

● Covers 198 square kilometres.

Figure 18. (above) Claim boundaries, Taranis (Okohongo) Project EPL7071.

Figure 19. (above) Okohongo Copper-Silver Deposit Topography

Deposit: Geology and Drill Holes

The dominant host to the mineralization is a siltstone unit within the Lower Omao Formation with dolostones adjacent to the siltstone as a subsidiary host.

Property is part of Kaoko Copperbelt.

Okohongo Deposit is open to the north, south and at depth.

Other copper targets on Property to be followed up.

Figure 20. (left) Geology and Historical Drill Holes

Okohongo Copper-Silver Resources (Grade Sensitivity)

Table 3. (above) Grade sensitivity analysis for mineral resource estimation completed to NI 43-101 standards in 2011 for INV Metals Inc. by Caracle Creek International Consulting (Pty) Limited, South Africa.

Table 4a. (above) Initial assays from re-sampled historical drill core and RC chip samples from new drilling program targeting the Okohongo Cu-Ag Deposit. Source: March 23, 2021 press release.

Table 4b. (above) RC chip sample assays from the second set of drill holes, Okohongo Cu-Ag Deposit, Namibia. Source: April 8, 2021 press release.

Table 4c. (above) RC chip sample assays from the second set of drill holes, Okohongo Cu-Ag Deposit, Namibia. Source: May 18, 2021 press release

Cu Mineralization Zonation: Section Looking North

Figure 21. (above) Cu Mineralization Zonation: Section Looking North

Okohongo Drill Hole Section: Looking North

Figure 22. (above) Okohongo Drill Hole Section: Looking North (2011).

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The full Mining MarketWatch Journal review may be viewed at https://miningmarketwatch.net/whm.htm online.

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This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL(s).

SOURCE: Sector Newswire editorial

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