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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.
