Ticker: ASX: WRM
Project Stage: Exploration, Development
Commodities: Zinc, Lead, Silver, Gold, Copper
Location: Australia, USA (Alaska)
White Rock Minerals Ltd is an Australian minerals exploration and development company with activities focussed on two projects: Red Mountain and Mt Carrington.
Red Mountain high-grade zinc – silver – gold project
The 100% owned Red Mountain Project is located in the Bonnifield District central Alaska. The Company is exploring for Intrusion Related Gold System (IRGS) mineralisation and high-grade zinc and precious metals volcanogenic massive sulphide (VMS) deposits.
IRGS exploration is focussed on the Last Chance gold target located within the Tintina Gold Province, host to giant gold deposits including Donlin Creek (45 Moz Au), Fort Knox (13.5 Moz Au) and Pogo (10 Moz Au), which are all Cretaceous IRGS deposits.
VMS exploration is focussed on the East Bonnifield District within the Yukon-Tanana Terrane. There are already two high-grade zinc-silver rich deposits with an Inferred Mineral Resource of 9.1 million tonnes @ 12.9% ZnEq for 1.1Mt of contained zinc equivalent.
The Company has secured a significant land package7 (798km²) that incorporates regional-scale potential around the exciting Last Chance gold target and the majority of prospective VMS stratigraphy associated with the Dry Creek and West Tundra Flats deposits where there are many lookalike conductivity targets and numerous historic VMS prospects.
Mt Carrington gold – silver project
Mt Carrington is a 100% owned advanced gold-silver epithermal project located in the southern New England Fold Belt, northern NSW, Australia. An updated 2020 Pre-Feasibility Study (PFS) into the “Gold First” development stage declared an Ore Reserve of 4.1 million tonnes at 1.3g/t gold for 174,000 ounces gold from within a Mineral Resource of 221,000 ounces gold. The gold pits are pre-stripped and there is considerable existing infrastructure including a tailings storage facility, freshwater dam, granted Mining Leases, access to State grid power and site office. The PFS financial metrics for this project are robust, especially in this strong gold price environment. At a conservative A$2,300 per ounce, the PFS financial metrics demonstrate a capital payback of just 14 months, an IRR of 82% and with free cash flow generated from the gold over its first 5 years of A$126M.
In addition, the overall Mineral Resource includes 352,000 ounces of gold and 23 million ounces of silver. With successful implementation of the Stage One gold development the Company will investigate a Stage Two operation to develop the silver deposits and the remaining gold deposits.
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