- White Metal Resources (WHM) has announced a new gold zone discovery at its Tower Gold Project
- The discovery was made in diamond drill hole TM-21-94, which yielded 1.7 grams per tonne (g/t) gold over 85 metres in addition to 3 g/t gold over 45 metres
- The new discovery zone is called the Ellen Zone, and has not seen any historical drilling
- Until now, the Tower Stock Gold Project hasn’t seen any exploration activity in over eight years
- The recently finished Phase 1 drilling program comprised 10 holes in 2,480 metres
- The company has also reported results from an additional six diamond drill holes from its fall 2020 prospecting program
- Shares of White Metal Resources rose 8.33 per cent to C$0.88 as of 1:25 p.m. EDT
White Metal Resources (WHM) has announced a new gold zone discovery at its Tower Gold Project near Thunder Bay, Ontario.
The discovery was made in diamond drill hole TM-21-94, which yielded 1.7 grams per tonne (g/t) gold over 85 metres in addition to 3 g/t gold over 45 metres.
Called the Ellen Zone, the new gold discovery is located roughly 340 metres south of the UV-V Zone and 300 metres north of the Bench Zone.
White Metal prospected the Ellen Zone last fall, which is mostly covered by overburden and anomalous gold values in rock grab samples ranging from below detection.
“I am extremely pleased to deliver these exciting drill results from our first drilling program. This newly discovered gold zone demonstrates the Project’s excellent potential and how we can quickly build on the number of known gold zones within Tower Gold,” Michael Stares, president and CEO of White Metal Gold, said in a release.
He continued, “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 Mountain Gold Project.”
Until recently, the Tower Stock Gold project hadn’t seen any exploration activity in over 8 years. The property is located roughly 40 kilometres west-northwest away from Thunder Bay, Ontario, and covers roughly 1,968 hectares.
The company prospected the the Ellen Zone area last fall and is mostly covered by overburden and discovered anomalous gold values in rock grab samples ranging from below detection.
White Metal Resources, in addition to the new Ellen Zone discovery, has also reported results from an additional six diamond drill holes from its fall 2020 prospecting program and is waiting for assay results from three more diamond drill holes.
Following the announcement, shares of White Metal Resources rose 8.33 per cent to C$0.88 as of 1:25 p.m. EDT.