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White Gold shares gain on Titan discovery

Shares in Yukon-focused explorer White Gold Corp surged 10% on Tuesday after drill results from Titan at the company’s eponymous district-scale gold play confirmed the discovery of high-grade, near-surface gold mineralisation.
White Gold shares gain on Titan discovery White Gold shares gain on Titan discovery White Gold shares gain on Titan discovery White Gold shares gain on Titan discovery White Gold shares gain on Titan discovery

White Gold has made another discovery at its eponymous property in Canada's Yukon Territory

Staff Reporter

The Toronto-headquartered company said an intercept of 72.81 grams per tonne gold over 6.09m, from 10.67m depth, confirmed the high-grade discovery. The intercept included an interval of 136.36g/t over 3.05m from 12.19m depth.

Chief technical advisor Shawn Ryan said the company's methodical data-driven approach to exploring the large land package was delivering results.

"These results represent the first pass drilling on the new Titan discovery, and are another successful demonstration of our methodical data-based exploration strategy, including our step by step approach of a regional soil programme, ground geophysical surveys, GT probing, trenching, geological mapping and other activities," said Ryan.

"The process led us to target this unique magnetite rich mineralisation directly, and again demonstrate that the White Gold District is very prospective ground for various styles of gold mineralisation. Follow up activity on the property will be very interesting as we have already identified multiple additional targets within 400m of the Titan discovery."

The White Gold District, of which about 40% is consolidated under the company standard, has a current resource of 1.039Moz in the indicated category grading at 2.26g/t gold and 508,700oz inferred at 1.48g/t.

White Gold equity (TSXV:WGO) closed Tuesday just above the midpoint of its 12-month range at C99c, which capitalises the explorer at about $123 million.