The A$8.8 million raising will issue new shares priced at 51c each, with the company's major shareholder Crescat participating to maintain its circa-10% shareholding.

White Rock's 800sq.km of ground includes the Last Chance intrusion-related gold prospect and its Red Mountain silver-zinc-gold-lead VMS target.  

The first rig should be in action late next month, with the other two flagged to operate from mid-June.

As well as drilling, geochem and geophysics programs are planned.

White Rock's technical advisor is relatively high-profile geologist Dr Quinton Hennigh.

He described White Rock's targets as "high quality".

Shares in White Rock were down 8% to 56c in early trade, capitalising the company at $41 million.