http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Sat, 19 Aug 2017 09:46:16 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - White Rock Minerals talks company-making assets in Proactive Q&A Sessions™ ]]> http://www.proactiveinvestors.com.au/companies/news/178677/white-rock-minerals-talks-company-making-assets-in-proactive-qa-sessions-178677.html White Rock Minerals (ASX:WRM) has two company making assets, being its zinc–silver–lead–gold-copper Red Mountain Project in Alaska and its gold–silver Mt Carrington Project in New South Wales.

Red Mountain recently revealed that it hosts a world-class resource, and Mt Carrington is on the pathway to production.

To find out more we are exclusively joined by the company’s managing director, Matthew Gill, in Proactive Q&A Sessions™.


PROACTIVE INVESTORS: Welcome Matthew.


First of all can you outline the new resource at Red Mountain, and costs behind acquiring the asset?

Matthew Gill: In May this year we announced a maiden JORC Resource for our newly acquired Red Mountain asset.

At a 3% zinc cut-off, this resource is a top quartile asset – 9 million tonnes at 13% zinc equivalent, and we have only just scratched the surface.

The two deposits identified host zinc, silver, lead, gold and copper – a true volcanogenic massive sulphide (VMS) setting.

We became aware of the Red Mountain project in Alaska early last year.

We did our due diligence, including seeking advice from a world-renowned expert, and subsequently acquired the project for 63.8 million White Rock shares, for a market value at the time of circa A$1.2 million.

Given the outstanding tenor of the resource, containing over 1 million tonnes of zinc metal equivalent, this is a very cheap acquisition cost, and adds a second company-making asset to the White Rock portfolio.


Touching more on the grades of the resource from surface, could there be an opportunity for a starter pit or potential ore agreement?

Matthew Gill: The two deposits so far identified were discovered over 20 years ago, and the last drilling was done in the 1990’s.

We see enormous opportunity to add to these two known deposits, as well as the broader exploration potential.

The mineralisation at both Dry Creek and West Tundra Flats is open down-dip and in some portions along strike.

There are two holes with good mineralised intercepts at Dry Creek South that are open in all directions.

Additional drilling, particularly at Dry Creek South could add tonnage to the reported resource.

Dry Creek outcrops on surface and presents a real opportunity to consider an open pit early start-up opportunity.


What are the next steps for Red Mountain, and would you consider a joint venture partner?

Matthew Gill: We were genuinely surprised by the size and grade of the Red Mountain resource estimate.

We had anticipated the need would be for more exploration work and drilling to get to a size amenable for mining, but with a global estimate of 16 million tonnes, and a high grade portion within that of 9 million tonnes, we are now looking at what it might take to get an operation up and running sooner than later.

We are looking at what work we can do on-ground this field season, and are keen to advance this project as it contains a significant resource of zinc, silver and gold – commodities that have been performing well and for which there is much interest.

We are open to all ideas on how best to advance this project and add value for White Rock shareholders – be that on a go it alone basis, or joint venture.


Moving to Mt Carrington, what is the envisaged pathway to production?

Matthew Gill: Our Mt Carrington project in northern New South Wales and hosts a JORC Resource of both gold and silver – two commodities doing well in Australian currency terms.

The site is on an approved mining license and with some A$20 million of infrastructure already existing.

The first two gold pits are already pre-stripped by the previous owners.

This presents a quicker pathway to production than many other projects.

We are well into our feasibility study work here – geology, mine planning, metallurgical test work and processing design, and we envisage this work will be completed in early 2018.

In parallel, we are advancing the key environmental studies, and have prepared a community engagement and consultation plan.

We expect the approvals process will be ongoing during 2018, and with a short construction period, be in production before the end of 2019.


Assays from Mt Carrington this week yielded more wide high-grade gold and silver results. How do these assays add to the metallurgical understanding of the mineralisation?

Matthew Gill: One of the drill holes returned intersections of: 11 metres at 4.21g/t gold and 86g/t silver from 58 metres; and 19 metres at 1.5g/t gold and 255g/t silver from 119 metres (LHDM002).

This result is very pleasing as it continues to support our confidence in the wide zones of mineralisation known to exist in the Lady Hampden silver and gold deposit.

The drill core from this will be used in metallurgical test work to further our knowledge and refine our plans for the gold and silver processing route and plant design.


Does the company have any existing facilities in place to fund Mt Carrington through development into production?

Matthew Gill: White Rock recently raised over A$5 million to advance its studies, and this work, which commenced in January this year, utilises the expertise of six consultancies and is progressing well.

Once this study is completed and the necessary approvals received, White Rock is in the unique position of having a finance proposal from a large private equity group in New York to fund the construction and commissioning of the mine.

This is a huge advantage for a company the size of White Rock, in that the US$19 million facility is re-paid out of pre-tax revenues, and not repaid from debt, hedging or having to be raised as equity with further dilutive effects for existing shareholders.


Finally, why should an investor consider adding White Rock Minerals to their portfolio?

Matthew Gill: White Rock has excellent exposure to precious metals – gold and silver, as well as zinc.

On any comparison with its peers, given the amount of gold, silver and zinc contained in its two projects, the company is very much under-valued when compared to either its gold peers, or zinc peers.

Commodity diversification should be attractive to an investor, especially when the underlying assets are under-valued, and with ongoing work and news flow, should see significant value added over time.


PROACTIVE INVESTORS: Thank-you Matthew.

]]>
Fri, 02 Jun 2017 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178677/white-rock-minerals-talks-company-making-assets-in-proactive-qa-sessions-178677.html
<![CDATA[News - White Rock Minerals drills width and grade in latest gold-silver assays ]]> http://www.proactiveinvestors.com.au/companies/news/178445/white-rock-minerals-drills-width-and-grade-in-latest-gold-silver-assays-178445.html White Rock Minerals (ASX:WRM) has delivered both width and grade from its Mt Carrington Gold-Silver Project in northern New South Wales.

Drilling was completed at the Lady Hampden deposit to obtain metallurgical samples for the test work program currently underway.

Results include: 11 metres at 4.21 g/t gold and 86 g/t silver from 58 metres; and 19 metres at 1.5 g/t gold and 255 g/t silver from 119 metres.

Matt Gill, managing director, commented: “These drill results continue to support our confidence in the gold and silver resource at Mt Carrington.

“We hope to be in a position to release a Probable Reserve Statement to JORC 2012 standard during the 3rd quarter of this year.”


Metallurgical work

Drilling was completed at the Lady Hampden deposit to obtain additional fresh rock samples required to complete the metallurgical test work program currently underway.

The program is testing each of the main deposits at Mt Carrington: Lady Hampden (silver and gold), Strauss (gold), Kylo (gold) and White Rock (silver).

Assay results were in line with expectations, supporting the wide zones of mineralisation known to exist in this deposit.

The metallurgical test work is part of the definitive feasibility study (DFS) currently underway.


DFS update

The definitive feasibility study work commenced in January this year utilising the expertise of six consultancies and is progressing well.

Detailed geological modelling is ongoing, as is the necessary geotechnical, mining, metallurgical, engineering and water management components.

In parallel, the company is progressing the key environmental studies necessary at this early stage to inform the mine plan.


Background

White Rock has two company making assets, being Red Mountain in Alaska and Mt Carrington in New South Wales.

Mt Carrington has a gold-silver JORC resource on granted mining leases and a definitive feasibility study is underway.

Its shallow resources total 338,000 ounces of gold and 23.4 million ounces of silver.

The estimated initial 7-year mine life will provide a 10 month payback and generate over $100 million in free cash flow.

It also has the potential for high grade gold-silver at depth and for copper porphyry mineralisation.

Red Mountain recently revealed a resource of 678,000 tonnes of zinc, 286,000 tonnes of lead, 53.5 million ounces of silver and 352,000 ounces of gold.

It exhibits significant exploration potential in an under-explored yet mining-friendly district.


Analysis

White Rock continues to get closer to unlocking the low cost gold-silver start-up opportunity that is Mt Carrington.

With key terms for a conditional fully funded construction financing package in place, each progressive step in the DFS unlocks further value for the company.

The funding proposal will directly provide for construction and commissioning through to commercial production, subject to the successful delivery of the DFS.

]]>
Tue, 30 May 2017 10:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178445/white-rock-minerals-drills-width-and-grade-in-latest-gold-silver-assays-178445.html
<![CDATA[News - White Rock Minerals: Access latest PPT from Proactive's CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/177946/white-rock-minerals-access-latest-ppt-from-proactive-s-ceo-sessions-177946.html White Rock Minerals (ASX:WRM) managing director, Matthew Gill, joined Proactive's CEO Sessions in Melbourne on Tuesday 16th May and Sydney on Wednesday 17th May.

White Rock has two company making assets, being Red Mountain in Alaska and Mount Carrington in New South Wales.

Red Mountain recently revealed a resource of 678,000 tonnes of zinc, 286,000 tonnes of lead, 53.5 million ounces of silver and 352,000 ounces of gold.

Mount Carrington is a gold and silver development asset.

ACCESS THE FULL PRESENTATION HERE

]]>
Fri, 19 May 2017 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177946/white-rock-minerals-access-latest-ppt-from-proactive-s-ceo-sessions-177946.html
<![CDATA[News - White Rock Minerals appoints the experienced Jeremy Gray to the board ]]> http://www.proactiveinvestors.com.au/companies/news/177399/white-rock-minerals-appoints-the-experienced-jeremy-gray-to-the-board-177399.html White Rock Minerals (ASX:WRM) has appointed Jeremy Gray as a non-executive director.

Gray joins the board as the nominee of Cartesian Royalty Holdings pursuant to its right to nominate a non-executive director under the financing package Term Sheet from June 2016.

Gray has spent more than two decades in mining investment.

This includes as the Global Head of Basic Materials at Standard Chartered Bank Plc, Head of Metals and Mining Research at Morgan Stanley in London and the Head of Mining Research at Credit Suisse in London.


Alaskan resources swells metals portfolio

Recently White Rock delivered a value adding asset into its portfolio, with a resource from its wholly-owned Red Mountain project in Alaska.

The total Inferred Resource is: 16.7 million tonnes at 8.9% zinc equivalent for 1.5 million tonnes of contained zinc equivalent, for 678,000 tonnes of zinc, 286,000 tonnes of lead, 53.5 million ounces of silver and 352,000 ounces of gold.

This adds to the company's Australian resources at Mt Carrington, hosting 338,000 ounces of gold and 23.4 million ounces of silver.

]]>
Mon, 08 May 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177399/white-rock-minerals-appoints-the-experienced-jeremy-gray-to-the-board-177399.html
<![CDATA[News - White Rock Minerals to show case silver-zinc at Spotlight CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/177183/white-rock-minerals-to-show-case-silver-zinc-at-spotlight-ceo-sessions-177183.html White Rock Minerals (ASX:WRM) recently delivered a value adding asset into its portfolio, with a resource from its wholly-owned Red Mountain project in Alaska.

The total Inferred Resource is: 16.7 million tonnes at 8.9% zinc equivalent for 1.5 million tonnes of contained zinc equivalent.

The total base metal and precious metal content is: 678,000 tonnes of zinc, 286,000 tonnes of lead, 53.5 million ounces of silver and 352,000 ounces of gold.

This resource places the Red Mountain Project in the top quartile of undeveloped high-grade VMS deposits globally.

In Australia, the company's wholly-owned Mt Carrington project hosts a near-surface resource of 338,000 ounces of gold and 23.4 million ounces of silver.

Find out more from Matthew Gill at Proactive's CEO Sessions.

Click on city below to register by email

- Melbourne: Tuesday, 16th May.
- Sydney: Wednesday, 17th May.
- Email Pauline here.
- Call office on (02) 9280 0700.

Presenter list

- Paradigm Biopharmaceuticals (ASX:PAR): CEO Paul Rennie
- Stonewall Resources (ASX:SWJ): MD Robert Thomson
- White Rock Minerals (ASX:WRM): MD Matthew Gill
- The Hydroponics Company (ASX:THC): CEO (medicinal Cannabis division, Canndeo) Andrew Beehag
- Impact Minerals (ASX:IPT): MD Dr Mike Jones

]]>
Fri, 05 May 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177183/white-rock-minerals-to-show-case-silver-zinc-at-spotlight-ceo-sessions-177183.html
<![CDATA[News - White Rock Minerals delivers re-rating as zinc potential becomes reality ]]> http://www.proactiveinvestors.com.au/companies/news/176882/white-rock-minerals-delivers-re-rating-as-zinc-potential-becomes-reality-176882.html White Rock Minerals (ASX:WRM) can now add a zinc resource to its portfolio from the wholly-owned Red Mountain project in Alaska.

Investors have supported the latest milestone by White Rock, with shares trading 13% higher at $0.017 in the first half of hour of trade.

Over four million shares have changed hands.

Matt Gill, CEO and managing director, commented:

"Establishing a Mineral Resource estimate for the two deposits at Red Mountain underpins our belief that the Red Mountain project can be home to a new camp of high grade zinc-silver-gold VMS deposits.

"Our recent work interrogating the historical geochemical and geophysical databases using a combination of world experts in the fields of VMS mineralisation and electromagnetics has already identified 30 conductors that are associated with geochemical anomalism."


Resource details

- A high-grade Inferred Resource of: 9.1 million tonnes at 12.9% zinc equivalent for 1.2 million tonnes of contained zinc equivalent.

- Total Inferred Resource of: 16.7 million tonnes at 8.9% zinc equivalent for 1.5 million tonnes of contained zinc equivalent.

- The total base metal and precious metal content is: 678,000 tonnes of zinc, 286,000 tonnes of lead, 53.5 million ounces of silver and 352,000 ounces of gold.


Analysis

The advantage of today's resource estimate is the potential for scalability, as it only covers a small portion of the total tenement.

And considering mineralisation commences at surface and is open down dip, resource growth is expected.

This resource places the Red Mountain Project in the top quartile of undeveloped high-grade VMS deposits globally.

The next exploration steps by White Rock at Red Mountain will be closely watched by investors.

]]>
Wed, 26 Apr 2017 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176882/white-rock-minerals-delivers-re-rating-as-zinc-potential-becomes-reality-176882.html
<![CDATA[News - White Rock Minerals to reveal maiden resource ]]> http://www.proactiveinvestors.com.au/companies/news/176691/white-rock-minerals-to-reveal-maiden-resource-176691.html White Rock Minerals (ASX:WRM) has been granted a trading halt by the ASX, pending a maiden JORC Resource for its Red Mountain VMS project in Alaska.

The halt will remain in place until the opening of trade on Wednesday 26th April 2017, or earlier if an announcement is made to the market.

]]>
Fri, 21 Apr 2017 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/176691/white-rock-minerals-to-reveal-maiden-resource-176691.html
<![CDATA[News - White Rock Minerals finalises raising with oversubscribed rights issue ]]> http://www.proactiveinvestors.com.au/companies/news/172965/white-rock-minerals-finalises-raising-with-oversubscribed-rights-issue-172965.html White Rock Minerals (ASX:WRM) has received strong investor support in its recent capital raising, and has now placed the remaining rights issue shortfall.

In total between the placement and rights issue, the company raised $5.7 million before costs, which will be allocated to the wholly-owned Mt Carrington project.

The project hosts a near-surface resource of 338,000 ounces of gold and 23.4 million ounces of silver.

Matt Gill, managing director, commented on the placement:

"White Rock will now be able to advance the current Mt Carrington Scoping Study to
Definitive Feasibility Study level, and progress the necessary permitting through completion of its Environmental Impact Statement.

"Once these two activities are completed, and subject to certain conditions precedent, the proposed US$19 million financing package offered by Cartesian Royalty Holdings will enable us to build and commission the mine, and so unlock the full potential of our project."

]]>
Fri, 10 Feb 2017 15:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172965/white-rock-minerals-finalises-raising-with-oversubscribed-rights-issue-172965.html
<![CDATA[News - White Rock Minerals appoints board member on path to development ]]> http://www.proactiveinvestors.com.au/companies/news/172597/white-rock-minerals-appoints-board-member-on-path-to-development-172597.html Smith has more than 35 years’ experience in the mining and services sector and will look to support the company’s transformation as it delivers on its growth strategy.

White Rock has assembled a highly skilled team to deliver its definitive feasibility study and environmental impact statement for its Mt Carrington gold-silver project in New South Wales.

Smith has held some of the most senior positions in the Australian resources industry, and was most recently managing director and CEO of Orica (ASX:ORI), the largest manufacturer and supplier of explosives and ground support in the world.

Prior to that, Smith was managing director and CEO of Newcrest Mining (ASX:NCM) for five years, growing the business to become one of the largest gold mining companies.

Brian Philips, chairman, commented: “Ian has a wealth of experience in the resources industry, including operational and project management roles through to the most senior corporate executive levels.”


Smith with skin in the game

As an early sign of confidence and in connection with his appointment to the board, Smith has subscribed for 6.67 million shares in the shortfall from the recent rights issue.

The new shares were issued at $0.015, being the same issue price as under the rights issue.

The funds from the issue will be used to advance the definitive feasibility study (DFS), the environmental impact statement (EIS) and associated approvals for Mt Carrington.


Background

White Rock’s cornerstone asset is the 100% owned Mt Carrington project where shallow resources totalling 338,000 ounces of gold and 23.4 million ounces of silver have been defined.

It is located 5 kilometres from the township of Drake in northern New South Wales and is on the Bruxner Highway.

Mt Carrington is a gold and silver development asset with a low capex of circa A$30 million which includes the DFS and EIS.

The estimated initial 7-year mine life will provide a 10 month payback and generate over $100 million in free cash flow.

It also has the potential for high grade gold-silver at depth and for copper porphyry mineralisation.

White Rock is also in the enviable position of already having secured a transformational financing package with Cartesian Royalty Holdings.


Next steps

The assembled definitive feasibility study team’s initial priorities will be:

- Community consultation strategy and engagement;
- The preparation and submission of the project’s preliminary environmental assessment;
- A geological review of the resource to JORC 2012 standard; and
- A detailed review and commencement of the metallurgical test work needed to lock down the preferred plant design.

]]>
Fri, 03 Feb 2017 12:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172597/white-rock-minerals-appoints-board-member-on-path-to-development-172597.html
<![CDATA[News - White Rock Minerals: Access latest PPT from Proactive's CEO Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/172667/white-rock-minerals-access-latest-ppt-from-proactive-s-ceo-sessions-172667.html White Rock Minerals (ASX:WRM) Matthew Gill joined Proactive's CEO Sessions in Melbourne on Tuesday 31st January and in Sydney on Wednesday 1st February.

Gill outlined the company's pathway to production from the flagship Mt Carrington gold and silver project, which is located in New South Wales.

White Rock is also in the enviable position of already having secured a transformational financing package.

Adding interest, the company also has VMS zinc and silver exposure in Alaska.


ACCESS THE FULL PRESENTATION HERE

]]>
Fri, 03 Feb 2017 12:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172667/white-rock-minerals-access-latest-ppt-from-proactive-s-ceo-sessions-172667.html
<![CDATA[News - White Rock Minerals brings gold, silver and zinc to Proactive's CEO Spotlight Sessions ]]> http://www.proactiveinvestors.com.au/companies/news/171904/white-rock-minerals-brings-gold-silver-and-zinc-to-proactive-s-ceo-spotlight-sessions-171904.html White Rock Minerals (ASX:WRM) is focused on the Mt Carrington Project, a gold and silver development asset in New South Wales.

Mt Carrington brings with it a low capex of circa A$30 million, which includes the Definitive Feasibility Study and the Environmental Impact Statement.

The JORC resources of 338,000 ounces of gold and 23.4 million ounces silver is projected to deliver a free cash flow of over A$100 million (before financing) from an initial 7 year mine life.

Recent studies have shown significant potential for expanding the in-pit resource, which would deliver a further boost to the already robust economics.

White Rock is also in the enviable position of already having secured a transformational financing package with Cartesian Royalty Holdings to fund the construction and commissioning of the mine.

For a touch of diversification, White Rock also has a VMS zinc and silver exploration project in Alaska.


Find out more from Matthew Gill, managing director, at Proactive's Spotlight CEO Sessions.

Click on a link below to register:

- Melbourne: Tuesday, 31st January.
- Sydney: Wednesday, 1st February.
- Call office on (02) 9280 0700.
- Email Pauline here.

Presenter list:

- White Rock Minerals (ASX:WRM); Matthew Gill.
- Carnarvon Petroleum (ASX:CVN); Adrian Cook.
- Great Boulder Resources (ASX:GBR); Stefan Murphy.
- Elk Petroleum (ASX:ELK); Brad Lingo.
- Petsec Energy (ASX:PSA); Maki Petkosvki.

(Argent Minerals will now be presenting on 20 / 21 February. Details to come.)

]]>
Fri, 20 Jan 2017 09:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171904/white-rock-minerals-brings-gold-silver-and-zinc-to-proactive-s-ceo-spotlight-sessions-171904.html
<![CDATA[News - White Rock Minerals closing in on Mt Carrington gold-silver development ]]> http://www.proactiveinvestors.com.au/companies/news/171761/white-rock-minerals-closing-in-on-mt-carrington-gold-silver-development-171761.html White Rock Minerals (ASX:WRM) has assembled a highly skilled team to deliver its definitive feasibility study and environmental impact statement for its Mt Carrington gold-silver project in New South Wales.

This multi-disciplinary team of experts, from across six different consultancy groups, brings together the necessary expertise to advance the project from scoping study through to definitive feasibility study (DFS).

Mt Carrington has a JORC resource of 338,000 ounces of gold and 23.4 million ounces silver with a projected free cash flow of over A$100 million from an initial 7 year mine life.

Recent studies have shown significant potential for expanding the in-pit Mineral Resource inventory, which could then flow through to increased mine life and / or higher gold and silver production rates.

White Rock is in the enviable position of already having secured a transformational financing package with Cartesian Royalty Holdings.

Matt Gill, managing director, commented: “We are very excited to be at this point in the project’s development, having successfully raised some $4.9 million, before costs, late last year to undertake this work.”


Next steps

The assembled study team’s initial priorities will be:

- Community consultation strategy and engagement;
- The preparation and submission of the project’s preliminary environmental assessment;
- A geological review of the resource to JORC 2012 standard; and
- A detailed review and commencement of the metallurgical test work needed to lock down the preferred plant design.


Financing advantage

Once the DFS and environmental impact statement (EIS) are completed and the necessary approvals obtained, White Rock is in the enviable position of already having secured a financing package with Cartesian Royalty Holdings.

The future streaming financing component (Phase II) provides for the construction and commissioning of the Mt Carrington Project with repayments to be made from a percentage of future gold and silver production from Mt Carrington.

Hence, the Phase II repayments would not require White Rock to undertake dilutive share issues to raise this construction financing.

The funding proposal will directly provide for construction and commissioning through to commercial production, subject to the successful delivery of the DFS.


Background

White Rock’s cornerstone asset is the 100% owned Mt Carrington project where shallow resources totalling 338,000 ounces of gold and 23.4 million ounces of silver have been defined.

It is located 5 kilometres from the township of Drake in northern New South Wales and is on the Bruxner Highway.

Mt Carrington is a gold and silver development asset with a low capex of circa A$30 million which includes the DFS and EIS.

The estimated initial 7-year mine life will provide a 10 month payback and generate over $100 million in free cash flow.

It also has the potential for high grade gold-silver at depth and for copper porphyry mineralisation.


Analysis

The assembling of the study team marks another milestone on the pathway to the development of Mt Carrington.

At current commodity prices for gold and silver, the scoping study financial metrics remain robust, with considerable upside potential for expanding the in-pit resource.

An expansion could flow through to increased mine life and higher gold and silver production rates.

This potential uplift would further enhance the strong financial metrics of the project, where the current scoping study results already deliver a compelling investment proposition with a pre-tax net present value of A$60.6 million and an internal rate of return (IRR) of over 100%.

Not many projects on the drawing board currently possess two of the better performing commodities (gold and silver) and generate these sorts of robust financial outcomes.


Find out more from Matthew Gill, managing director, at Proactive's Spotlight CEO Sessions.

Click on a link below to register :

- Melbourne: Tuesday, 31st January.
- Sydney: Wednesday, 1st February.
- Call office on (02) 9280 0700.
- Email Pauline here.


Presenter list

- White Rock Minerals (ASX:WRM); Matthew Gill
- Carnarvon Petroleum (ASX:CVN); Adrian Cook.
- Great Boulder Resources (ASX:GBR); Stefan Murphy.
- Elk Petroleum (ASX:ELK); Brad Lingo.
- Petsec Energy (ASX:PSA); Maki Petkosvki.

]]>
Wed, 18 Jan 2017 09:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171761/white-rock-minerals-closing-in-on-mt-carrington-gold-silver-development-171761.html
<![CDATA[News - White Rock Minerals heads to market ]]> http://www.proactiveinvestors.com.au/companies/news/169790/white-rock-minerals-heads-to-market-169790.html The halt will remain in place until the opening of trade on Monday 5th December 2016, or earlier if an announcement is made to the market.

]]>
Thu, 01 Dec 2016 08:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169790/white-rock-minerals-heads-to-market-169790.html
<![CDATA[News - White Rock Minerals Ltd's Matt Gill talks pathway to production in Proactive Q&A Sessions™ ]]> http://www.proactiveinvestors.com.au/companies/news/169636/white-rock-minerals-ltd-s-matt-gill-talks-pathway-to-production-in-proactive-qa-sessions-169636.html Mt Carrington has a potential pathway to production, and continuing exploration provides the opportunity to increase forecast mine life, with a key benefit access to existing mining infrastructure.

Adding interest, White Rock is also leveraged to the zinc price through its Red Mountain Zinc-Silver-Lead-Gold Exploration Project in Alaska.

To tell us more is Matt Gill, the recently appointed managing director, who exclusively joins Proactive Q&A Sessions™.


PROACTIVE INVESTORS: Welcome Matt.


First of all, can you outline some key metrics of White Rock’s valuation compared to peers?

Matt Gill: Mount Carrington is a fairly unique 50% gold and 50% silver resource project.

We are one of the very few projects where we could mine either silver or gold or both together – silver is not a by-product.

As a consequence, when we compare ourselves to peers, we cannot really be compared only to a gold producer and neither can we be compared to silver producers only.

This is why we convert the silver component into a gold equivalent.

If we give silver the same value as gold, we are about a 650,000 ounce gold equivalent mine and that makes us cheap compared to our peers on an enterprise value where we're less than $10 an ounce.

If we do it the other way and convert our gold to silver equivalent and then compare ourselves to silver companies, we are about a 48 million ounce silver equivalent mine, and that again makes us very cheap compared to our peers.

On either metric, whether you like gold or silver or both, we are certainly undervalued.

It is actually quite important for an investor to see that on either side of the coin, we are a good value proposition.


Does Mt Carrington host any potential high-grade mineralised areas which could be used to generate cash from an ore processing agreement, or perhaps be mined as a starter pit?

Matt Gill: Mt Carrington’s area is a collapsed volcano, which means that the gold and silver mineralisation appear in deposits within an epithermal system.

We get very wide zones (30 - 40 meters wide) of one to two grams of gold and in the silver deposits, around 60g/t of silver. Within these areas, smaller high grade sections can be found.

The beauty of Mount Carrington resides in its broad zones where mining is easier with less dilution and a higher mining productivity, with associated lower operating costs.

The two gold dominant pits that we plan to mine first are actually already pre-stripped, meaning we have got an immediate start and we do not need to chase a high grade bit for early cash flow.


When could a Definitive Feasibility Study (DFS) be undertaken, and how would it be funded?

Matt Gill: Mount Carrington has an advanced scoping study that wraps an initial seven year mine plan around that, includes a preliminary process flow sheet and engineering design, and which delivers really good financial metrics.

The next step is to finish the metallurgical test work, which is part of the DFS, do some more optimisation of the mine plan and wrap the DFS around that along with a permitting process.

Part of our current capital raising is available to fund this body of work, we are more than halfway through to complete the funding.

The DFS study should then be completed by the end of next year.

In parallel, we will be completing our Environmental Impact Statement (EIS), and engaging with our major stakeholders – the local and regional communities and interest groups, Council and state government departments.

We anticipate that this process can run alongside the DFS work.


Moving to the Red Mountain Zinc-Silver-Lead-Gold Exploration Project in Alaska, how did the company acquire the tenements and what are the next steps?

Matt Gill: The Red Mountain Project was initially a private unlisted project that White Rock Minerals acquired in April 2016.

By acquiring this project, we now reach out to an expanded investor base and a larger funding source.

It also added another dimension to White Rock and helped broaden and provide more colour to the White Rock’s story, and upside and value-add for investors.

Following the acquisition of the Red Mountain Project, we expanded our strategic footprint tenfold from 16 to 140 square kilometres.

We hope to commence work during 2017 on the two known deposits (Dry Creek and West Tundra Flats), and on the top five of the 30 targets we have already identified, and do some drilling at the end of the Alaskan summertime next year, funding dependent.


White Rock recently completed an entitlement offer. How much was raised during the capital raising program, and where will these funds first be allocated?

Matt Gill: The capital raising is $5.6 million in total, which is quite aggressive for an $8 million market capital company.

However once we have raised this amount, we will be fully funded to complete the feasibility study and permitting, and as we already have a $25 million facility to build the mine, there is no need to raise further capital to get into commercial gold production.

This is a clear advantage compared to a lot of junior companies that have to raise multiples of their market capital to build the mine.

The capital raising will see us fully funded with a clear pathway to production and a clear view to cash flow positive production, with no need to raise any more money afterwards.

It will be allocated into three parts:

1. Feasibility study work (circa $2 to $3 million);
2. Environmental impact statement and environmental approvals (approximately $1 million); and
3. Working capital over the next 18 months.


Finally, why should an investor consider adding White Rock Minerals to their portfolio?

Matt Gill: The capital raising has already reached about $3 million, meaning there is still $1 to $2 million of opportunity.

White Rock’s share price is currently around $0.02, and the capital raising is at $0.015. As such, interest is very strong.

The capital raising is open to sophisticated investors, and any other investors who would like to add White Rock to their portfolio can buy on-market.

We are two to two and a half years away from production and we are also dealing with two really good commodities, gold and silver.

We also run a very good side project, the Red Mountain Project which is rich in zinc and silver, another two strong commodities.

To put it in a nutshell, I would say that White Rock Minerals is an undervalued company, with a great opportunity to go into production in the next two years and a pipeline of strong projects in Australia and Alaska.

     
PROACTIVE INVESTORS: Thank-you Matt.

Matt Gill presented for White Rock Minerals at Mines and Money Melbourne in November 2016.

 

]]>
Tue, 29 Nov 2016 10:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169636/white-rock-minerals-ltd-s-matt-gill-talks-pathway-to-production-in-proactive-qa-sessions-169636.html
<![CDATA[News - White Rock Minerals Ltd in an ASX trading halt ]]> http://www.proactiveinvestors.com.au/companies/news/166407/white-rock-minerals-ltd-in-an-asx-trading-halt-71198.html White Rock Minerals Ltd (ASX:WRM) has been granted a trading halt by the ASX this morning, pending details of a capital raising.

The halt will remain in place until the opening of trade on Wednesday 28th September 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 26 Sep 2016 09:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/166407/white-rock-minerals-ltd-in-an-asx-trading-halt-71198.html
<![CDATA[News - White Rock Minerals Ltd appoints Matthew Gill as managing director ]]> http://www.proactiveinvestors.com.au/companies/news/147327/white-rock-minerals-ltd-appoints-matthew-gill-as-managing-director-70152.html White Rock Minerals Ltd (ASX:WRM) has appointed Matthew Gill as managing director and chief executive officer of the company.

Gill will lead the company towards commercial development of the Mt Carrington gold-silver project in New South Wales.

White Rock recently outlined a conditional financing package involving US$19 million of gold streaming finance for the Mt Carrington Project.

A completed scoping study supports the development of the project and forecasts a 7 year mine life with a net present value of $60.6 million.

The Mt Carrington Project has a mineral resource totalling 338,000 ounces of gold and 23.4 million ounces of silver.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 01 Aug 2016 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147327/white-rock-minerals-ltd-appoints-matthew-gill-as-managing-director-70152.html
<![CDATA[News - White Rock Minerals Ltd wins support from U.S. private equity firm for Mt Carrington ]]> http://www.proactiveinvestors.com.au/companies/news/147326/white-rock-minerals-ltd-wins-support-from-us-private-equity-firm-for-mt-carrington-69450.html White Rock Minerals Ltd (ASX:WRM) has signed a term sheet with New York based private equity firm Cartesian Royalty Holdings LLC for a two pronged financing for the Mt Carrington gold-silver project in New South Wales.

Under the term sheet, which is conditional on due diligence, Cartesian will provide a A$1 million equity investment, and US$19 million in future streaming financing.

A completed scoping study supports the development of Mt Carrington and forecasts a 7 year mine life with a net present value of A$60.6 million.

Mr Carrington has a Mineral Resource totalling 338,000 ounces of gold and 23,500,000 ounces of silver.

The project would have a low capital cost of A$24.2 million and C1 cash costs of A$754 per ounce of gold and $A10 per ounce of silver.

The phase 1 equity investment would be to assist in the progression of the definitive feasibility study (DFS) and environmental impact statement (EIS) activities.

The phase 2 funding would be for the construction and commissioning of the project to reach commercial production.

This agreement would provide White Rock with milestone long-term supportive strategic partner allowing it to advance the Mt Carrington gold silver project through to commercial production.

Phase 2 funding will be subject to the successful completion of the DFS, EIS and other permitting activities.

White Rock recently entered into an agreement to acquire 100% of the Red Mountain zinc-silver-lead-gold project in central Alaska in exchange for White Rock shares.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 27 Jun 2016 13:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147326/white-rock-minerals-ltd-wins-support-from-us-private-equity-firm-for-mt-carrington-69450.html
<![CDATA[News - White Rock Minerals adds to lustre of Alaskan polymetallic prospect ]]> http://www.proactiveinvestors.com.au/companies/news/147325/white-rock-minerals-adds-to-lustre-of-alaskan-polymetallic-prospect-67732.html White Rock Minerals Ltd (ASX:WRM) has expanded its highly prospective tenement package at the Red Mountain Project in central Alaska containing polymetallic mineralisation rich in zinc, silver, lead and gold.

An additional 85 mining claims have been added to the original 25 mining claims that make up the Red Mountain project, with the total area now controlled exceeding 70 square kilometres.

Red Mountain Project contains volcanogenic massive sulphide (VMS) mineralisation. Previous drilling at Dry Creek and West Tundra Flats, recovered 4.6 metres at 23.5% zinc, 531 g/t silver, 8.5% lead, 1.5 g/t gold and 1.0% copper from a depth of 6.1 metres.
 
Red Mountain camp has the potential for a large 10-15 million tonnes VMS deposit rich in zinc, silver and lead, along with the potential for a series of smaller mines.

Alaska is ranked 6th out of 109 jurisdictions on the Investment Attractiveness Index in the 2015 Fraser Institute Annual Survey of Mining Companies. The index is weighted 40% by policy and 60% by mineral potential.

Interpretation of the geologic setting indicates conditions that enhance the prospects for gold-rich mineralisation within the VMS system at Red Mountain.

White Rock sees significant discovery potential, given the lack of modern day exploration at Red Mountain.


Mt Carrington project

Meanwhile a scoping study for the Mt Carrington gold-silver project in northern New South Wales has come up trumps following an independent review of the project’s cost inputs and the much improved Australian gold price.

The results delivered highly robust metrics including a project that would generate a pre-tax net present value of A$60.6 million and with an IRR of over 100%, with A$100 million in free cash flow delivered over its initial 7-year mine life.

The project’s capital costs were reviewed and remain low at A$24 million with a capital payback of less than one year.

Operating cost inputs were also reviewed and revised down given current market conditions, with the project’s C1 cash cost projected to be under A$800 per ounce of gold.

This scoping study review and resulting economic uplift highlights the quality nature of the asset, and would support proceeding to a Feasibility Study followed by development.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Tue, 29 Mar 2016 15:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147325/white-rock-minerals-adds-to-lustre-of-alaskan-polymetallic-prospect-67732.html
<![CDATA[News - White Rock Minerals to reveal corporate transaction, capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/147324/white-rock-minerals-to-reveal-corporate-transaction-capital-raising-67006.html White Rock Minerals (ASX:WRM) has been granted a trading halt by the ASX, with its shares placed in pre-open.

White Rock requested the halt pending a potential corporate transaction and associated capital raising.

The halt will remain in place until the opening of trade on Wednesday 17th February 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

]]>
Mon, 15 Feb 2016 08:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147324/white-rock-minerals-to-reveal-corporate-transaction-capital-raising-67006.html
<![CDATA[News - White Rock Minerals to raise funds, reveal transaction ]]> http://www.proactiveinvestors.com.au/companies/news/147323/white-rock-minerals-to-raise-funds-reveal-transaction-63587.html White Rock Minerals (ASX:WRM) has been granted a trading halt by the ASX pending details of a capital raising and consideration of a potential corporate transaction.

The company is focussed on exploring the New England Fold Belt in New South Wales.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 24th July 2015.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 22 Jul 2015 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147323/white-rock-minerals-to-raise-funds-reveal-transaction-63587.html
<![CDATA[News - White Rock Minerals upgrades silver resource at White Rock, New South Wales ]]> http://www.proactiveinvestors.com.au/companies/news/147322/white-rock-minerals-upgrades-silver-resource-at-white-rock-new-south-wales--50380.html White Rock Minerals (ASX:WRM) has completed modelling and Resource estimation to upgrade its White Rock silver resource, one of eight deposits that make up its Mt Carrington project in New South Wales.

The indicated resource now stands at 1.7 million tonnes at 77 grams per tonne silver for 4.2 million ounces, with combined indicated and inferred comprising 4.4 million tonnes at 58 grams per tonne silver for 8.2 million ounces.

Modelling work was based on infill drilling completed in July, and the upgraded Resource estimate was undertaken by independent firm Ravensgate Mining Industry Consultants.

The majority of the four largest silver-gold deposits at the Mt Carrington project are now classified as indicated, allowing feasibilty studies to commence next year.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Wed, 20 Nov 2013 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147322/white-rock-minerals-upgrades-silver-resource-at-white-rock-new-south-wales--50380.html
<![CDATA[News - White Rock Minerals targets upgrade to gold-silver resource in New South Wales ]]> http://www.proactiveinvestors.com.au/companies/news/147321/white-rock-minerals-targets-upgrade-to-gold-silver-resource-in-new-south-wales-50195.html White Rock Minerals (ASX: WRM) has demonstrated potential to expand its 700,000 gold equivalent ounce Resource at the Mt Carrington gold-silver project in New South Wales.

The first two holes of its six hole program completed at the Red Rock Prospect in October have defined a broad zone of mineralisation from surface immediately to the south of and consistent with the Deadman’s Resource model.

This includes 40.8 metres at 0.5 grams per tonne silver from 1.8 metres including 1.2 metres at 2.6g/t silver from 1.8 metres as well as 45.5 metres at 0.7g/t gold and 23g.t silver from surface including 10 metres at 1.2g/t gold from surface and 6 metres at 0.8g/t silver and 105g/t silver from 22 metres.

Notably, it highlights the project’s potential to provide new gold-silver deposits that would add to its existing Mt Carrington inventory.

The Mt Carrington project currently hosts a near-surface Indicated and Inferred Resource of 284,000 gold ounces and 23.3 million silver ounces.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 14 Nov 2013 13:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147321/white-rock-minerals-targets-upgrade-to-gold-silver-resource-in-new-south-wales-50195.html
<![CDATA[News - White Rock Minerals hits 216g/t silver at Mt Carrington, New South Wales ]]> http://www.proactiveinvestors.com.au/companies/news/147320/white-rock-minerals-hits-216gt-silver-at-mt-carrington-new-south-wales-49208.html White Rock Minerals (ASX: WRM) has intersected 3 metres at 216 grams per tonnes silver from 37 metres at Lead Block, part of its wholly-owned Mt Carrington gold-silver project in New South Wales.

Initial drilling of new exploration targets on the Central and White Rock mining leases also returned 6.7 metres at 1.2 grams per tonne gold within 42.7 metres at 0.5 grams per tonne.

The program underpins a new interpretation of a steep easterly-dipping zone of gold-silver mineralisation, complimented by adjacent higher grade zones.

Drilling is continuing at White Rock, with subsequent drilling planned at Red Rock to test new targets and potential extensions to the gold inferred resource defined at the Deadman’s Zone in August.

A revised Resource estimation of the White Rock silver deposit is underway and will incorporate the results of the current drilling along with the previous program in July.

The Mt Carrington project currently hosts a near-surface Indicated and Inferred Resource of 284,000 gold ounces and 23.3 million silver ounces.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 17 Oct 2013 15:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147320/white-rock-minerals-hits-216gt-silver-at-mt-carrington-new-south-wales-49208.html
<![CDATA[News - White Rock Minerals boosts cash balance by $1.9m for silver, gold exploration in NSW ]]> http://www.proactiveinvestors.com.au/companies/news/147319/white-rock-minerals-boosts-cash-balance-by-19m-for-silver-gold-exploration-in-nsw-47547.html White Rock Minerals (ASX:WRM) has successfully raised $1,896,019 under the previously announced entitlement offer at $0.04 per share. A shortfall of 89,221,716 shares remains that the board of WRM will now endeavour to place. 

White Rock is focused on the discovery and development of near-surface gold, silver and copper deposits in the New England Fold Belt, northern NSW.

Their cornerstone asset is the 100% owned Mt Carrington project where shallow Indicated and Inferred Mineral Resources totalling 338,000 ounces of gold and 23.5 million ounces of silver have been defined.

Exploration drilling at Mt Carrington is in progress with the aim of extending the Resource base, and to test regional and near-mine targets within a tenement area of 600 square kilometres of under-explored Drake Volcanics.

The successful capital raising is a vote of confidence for White Rock's current program at Mt. Carrington.

 

]]>
Wed, 04 Sep 2013 10:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147319/white-rock-minerals-boosts-cash-balance-by-19m-for-silver-gold-exploration-in-nsw-47547.html
<![CDATA[News - White Rock Minerals gets busy drilling for more near-surface silver gold in NSW ]]> http://www.proactiveinvestors.com.au/companies/news/147318/white-rock-minerals-gets-busy-drilling-for-more-near-surface-silver-gold-in-nsw-47380.html White Rock Minerals (ASX: WRM) has resumed drilling at its prospective Mt Carrington silver-gold-copper project in northern New South Wales.

The program will cover 2000 metres of diamond coring and will be completed under a new services agreement with major shareholder Titeline Drilling.

The program will focus on a number of high priority near-mine targets identified within the Mt Carrington, Red Rock and White Rock Mining Leases, with the aim of increasing the company’s 740,000 ounce gold-equivalent resource base and expanding development options for proposed feasibility studies.

Drilling will specifically focus on silver-gold-copper targets on the main Mt Carrington leases, silver-gold targets at Red Rock, and the recently discovered gold zone on the south-west margin of the White Rock silver deposit.

The $310,000 agreement with Titeline, currently a 13.21% shareholder, comprises staged cash payments totalling $155,000, and the issue of 3.875 million fully paid ordinary shares at $0.04 on completion of the contract, expected to be in late October.

White Rock, with unique support from a respected drilling company in Titeline, continues to deliver in its quest to develop a low-cost, high margin precious metals operation in New South Wales.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

]]>
Fri, 30 Aug 2013 12:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147318/white-rock-minerals-gets-busy-drilling-for-more-near-surface-silver-gold-in-nsw-47380.html
<![CDATA[News - White Rock Minerals delineates 54,000Oz maiden gold resource at Red Rock prospect ]]> http://www.proactiveinvestors.com.au/companies/news/147317/white-rock-minerals-delineates-54000oz-maiden-gold-resource-at-red-rock-prospect-45443.html White Rock Minerals (ASX:WRM) has added to its resource base at Mt Carrington gold-silver project in New South Wales, defining a 54,000 ounce maiden gold resource at the Red Rock prospect.

The maiden Inferred Resource of 1.6 million tonnes at 1.0 grams per tonne gold for 54,000 ounces increases the total project resources to 338,000 ounces gold 23.5 million ounces silver.

Red Rock is located only 15km from the main Resource and infrastructure base on the central mining leases at the 100% owned Mt Carrington project near Drake in northern NSW.

The Mt Carrington project includes resources defined for seven gold-silver deposits, with six of them on granted mining leases.

The deposits at the project are shallow with low strip ratio and the company expects limited drilling to upgrades resources from inferred to indicated.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 11 Jul 2013 10:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147317/white-rock-minerals-delineates-54000oz-maiden-gold-resource-at-red-rock-prospect-45443.html
<![CDATA[News - White Rock Minerals returns 318g/t silver hit at Mt Carrington ]]> http://www.proactiveinvestors.com.au/companies/news/147316/white-rock-minerals-returns-318gt-silver-hit-at-mt-carrington-45079.html White Rock Minerals (ASX: WRM) has intersected broad zones of high-grade silver from an infill drilling program at the Mt Carrington gold-silver project in northern New South Wales.

Highlights from the White Rock Deposit included: 86 metres at 81g/t silver from surface, including 14 metres at 318g/t silver; and 61 metres at 115g/t silver from 49 metres, including 7 metres at 355g/t silver and 13 metres at 270g/t silver.

The drilling program covered 15 holes, and targeted a confidence category upgrade of the resource to Indicated from Inferred. Assays for five holes remain.

The White Rock silver deposit accounts for over one third of the current silver inventory at Mt Carrington based on an Inferred Resource of 4.1 million tonnes at 62g/t silver for 8.2 million ounces.

This resource is within the total Mt Carrington Resource base of 23.3 million ounces of silver and 284,000 ounces of gold.

White Rock is targeting a resource estimate upgrade due late in 2013.

Following the Avalon Ventures Corporation Tranche 2 placement in April 2013, the company had $4.6 million in cash and no debt.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 02 Jul 2013 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147316/white-rock-minerals-returns-318gt-silver-hit-at-mt-carrington-45079.html
<![CDATA[News - White Rock Mineral intersects more gold and silver from surface in New South Wales ]]> http://www.proactiveinvestors.com.au/companies/news/147315/white-rock-mineral-intersects-more-gold-and-silver-from-surface-in-new-south-wales-42890.html White Rock Mineral’s(ASX: WRM) infill drilling program at its emerging Red Rock Prospect in New South Wales has intersected a zone of gold and silver from surface, confirming previous drilling results.

Red Rock is located 15 kilometres from the company’s Mt Carrington Mining Leases which contain the current gold‐silver Resource base of 280,000 ounces of gold and 23.3 million ounces of silver (750,000oz gold equivalent resource).

The Initial assay from the seven-hole program returned 90 metres at 0.8 grams per tonne gold and 5g/t silver from surface including 8 metres at 3.4g/t gold and 14g/t silver from surface.

Initial drilling in late 2012 at Red Rock had returned 121.6 metres at 0.7g/t gold from surface including 9.9 metres at 1.8g/t gold from 65 metres and 7.1 metres at 2.1g/t gold from 114 metres as well as 25 metres at 67g/t silver and 0.7g/t gold from surface including 10 metres at 121g/t silver and 0.6g/t gold from 3 metres.

Follow-up exploration drilling has also intersected gold and silver from surface.

Assays for the remaining six holes, which were completed to infill the drilling gaps within the known mineralised zone to firm up the mineralisation model,  are pending and will form part of a resource estimate due mid-year.

The holes were also drilled to test for northern extensions to mineralisation.

All drillholes have intersected significant quantities of quartz veining and associated base metal sulphides.

White Rock had in March completed a program of electrical geophysics and infill geochemical sampling at Red Rock that improved understanding of mineralisation, allowing it to define additional targets for drill testing in the second half of 2013.

Drilling at Mt Carrington is now focussed on the central leases with a program completed to obtain samples from the Strauss and Kylo gold deposits for further metallurgical test work.

The drill rig is now completing a program to upgrade the White Rock Resource from Inferred to Indicated status as part of the feasibility studies.

White Rock is trading below its 24 April 2013 cash backing of $4.6 million, or $0.053. Its current market capitalisation is $4.11 million with a share price of $0.047.

This follows a second tranche placement of 25 million shares priced at $0.12 each to Avalon Ventures Corporation, raising a total of $3 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Mon, 06 May 2013 10:10:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147315/white-rock-mineral-intersects-more-gold-and-silver-from-surface-in-new-south-wales-42890.html
<![CDATA[News - White Rock Minerals strikes more gold in New South Wales ]]> http://www.proactiveinvestors.com.au/companies/news/147314/white-rock-minerals-strikes-more-gold-in-new-south-wales-41275.html White Rock Minerals (ASX: WRM) has received further shallow gold results from its recent drilling program at the Red Rock Prospect in the Mt Carrington project in New South Wales.

Results from the three diamond drill holes include 6 metres at 2.1 grams per tonne gold from surface, 15 metres at 1.3g/t gold from surface and 10 metres at 1.5g/t gold from 104 metres.

All three holes intersected the interpreted mineralised zone, which follows on the positive drilling assays reported earlier.

White Rock had previously intersected 88 metres at 0.9 grams per tonne gold from surface with 17 metres at 2.8g/t gold from 45 metres.

The ‘Deadman’s Au-Ag Zone’ has now been defined in twelve of sixteen holes drilled by the company at Red Rock to date.

This zone has a strike length of 250 metres and is open along strike in both directions, as well as at depth.

Drilling has recommenced and will continue through April seeking to define strike and depth extensions of the zone, and to support the estimation of a maiden Mineral Resource at Red Rock mid-year.

White Rock is also starting an induced polarisation program to define further satellite targets for drilling in mid-2013.

The company had $1.1 million in cash as of 31 December 2012 and had raised $1.5 million from the first tranche of a broader $4.5 million subscription agreement in January.

The remaining $3 million in the second tranche is expected to be completed this month.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 26 Mar 2013 14:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147314/white-rock-minerals-strikes-more-gold-in-new-south-wales-41275.html
<![CDATA[News - White Rock Minerals intersects more shallow gold at New South Wales project ]]> http://www.proactiveinvestors.com.au/companies/news/147313/white-rock-minerals-intersects-more-shallow-gold-at-new-south-wales-project-40497.html White Rock Minerals (ASX: WRM) has received further shallow gold assays that strengthen the case for the Red Rock Prospect’s inclusion as a new resource for the expanded mine plan for the Mt Carrington gold-silver project.

Results from the four new diamond drill holes include 88 metres at 0.9 grams per tonne gold from surface with 17 metres at 2.8g/t gold from 45 metres.

Nine of the 13 holes drilled so far, or about 70%, have intersected shallow gold and silver mineralisation in a broad coherent zone which remains open along strike and at depth.

Assays are pending for three further holes.

The results also support a potential Mineral Resource estimate for the Red Rock Prospect in the middle of the year.

White Rock is now undertaking a similar drilling program at the Mozart silver Prospect, and will return to Red Rock for further infill drilling in April.

Red Rock is a priority target within the 400 square kilometre Drake Volcanic Caldera and located about 15 kilometres from Mt Carrington.

White Rock’s wholly-owned Mt Carrington currently hosts shallow Indicated and Inferred Resources of 284,000 ounces of gold and 23.3 million ounces of silver.

The company has $2.6 million in cash following completion of the first tranche of 15 million shares priced at $0.11 each to Avalon Ventures Corporation.

This is expected to increase by a further $3 million once the second tranche of 25 million shares is completed by the end of March, underpinning White Rock’s Resource expansion and development programs at Mt Carrington.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Thu, 07 Mar 2013 10:50:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147313/white-rock-minerals-intersects-more-shallow-gold-at-new-south-wales-project-40497.html
<![CDATA[News - White Rock Minerals finds shallow, high grade gold and silver in NSW ]]> http://www.proactiveinvestors.com.au/companies/news/147312/white-rock-minerals-finds-shallow-high-grade-gold-and-silver-in-nsw--39723.html White Rock Minerals (ASX: WRM) has uncovered shallow high grade gold and silver during infill drilling at the Lady Hampden deposit on the Mt Carrington gold-silver project in northern New South Wales.

Highlights include 26 metres at 3.4 grams per tonne (g/t) gold and 69g/t silver from 31 metres including 12 metres at 6.4g/t gold and 70g/t silver; and 23 metres at 1.3g/t gold and 63g/t silver from 59 metres.

The new results confirm indications from historical mining data that there are a number of discrete higher grade pods of gold-silver mineralisation within the broad Indicated Resource shell at Lady Hampden.

Recent drilling of two infill holes was completed to provide fresh samples for ongoing metallurgical test work.

The drillholes are also the first of an infill program that will be completed to upgrade the Resource from Indicated to the higher confidence Measured category as the Feasibility Study progresses in 2013.

Lady Hampden contains an Indicated and Inferred Resource of 4.3 million tonnes at 58g/t silver and 0.5g/t gold for 8.1 million ounces of silver and 64,000 ounces of gold, within the total Mt Carrington Resource of 23.3 million ounces of silver and 284,000 ounces of gold.

The deposit was last mined in 1990 as a shallow open pit to 30 metres depth, producing 800,000 ounces of silver and 9,000 ounces of gold.

The current Resource extends from the pit floor to a depth of 250 metres, and is open below this depth.

White Rock is also working to generate similar silver-gold targets along the 1.5 kilometre long Lady Hampden, Silver King and Mozart corridor for drilling in the second quarter of 2013.

Drilling is currently underway at the Red Rock gold prospect with assays expected in the coming weeks.

Drilling is then scheduled to immediately follow at Mozart from late February and continue throughout the first half of 2013 on a number of new near-mine prospects.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Tue, 19 Feb 2013 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147312/white-rock-minerals-finds-shallow-high-grade-gold-and-silver-in-nsw--39723.html
<![CDATA[News - White Rock Minerals inks drilling agreement with major shareholder ]]> http://www.proactiveinvestors.com.au/companies/news/147311/white-rock-minerals-inks-drilling-agreement-with-major-shareholder--38074.html White Rock Minerals (ASX: WRM) has secured a drilling services agreement with major shareholder Titeline Drilling for the Mt Carrington gold-silver project in northern New South Wales.

The company is planning an accelerated program of resource expansion, project development and exploration programs at the wholly owned project.

White Rock will begin drilling immediately with an initial focus on the Red Rock and Mozart prospects, where first pass drilling in 2012 demonstrated the potential for new gold and silver resources.

Further drilling on these prospects is aimed at increasing the company’s 750,000 ounce gold equivalent resource base and expanding the development options for the proposed 2013 feasibility studies.

Ongoing drilling in coming weeks will also test a number of other promising near-mine exploration targets, and provide drill core samples from within the current resource base for metallurgical and geotechnical test work.

The agreement with Titeline, which currently holds a 10.2% shareholding in White Rock, comprises staged cash payments totalling $112,000 and the issue of 6.58 million fully paid ordinary shares at $0.10 per share.

White Rock has previously completed a high level Scoping Study which demonstrated the viability of a low CAPEX, robustly economic, 40,000 ounce per annum gold-silver project with an 18 month capital payback.

In 2013 the company plans to undertake feasibility studies to progress and define the development options outlined in the Scoping Study.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>
Fri, 11 Jan 2013 17:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147311/white-rock-minerals-inks-drilling-agreement-with-major-shareholder--38074.html
<![CDATA[News - White Rock Minerals strikes high grade silver in step out drilling at Mt Carrington ]]> http://www.proactiveinvestors.com.au/companies/news/147310/white-rock-minerals-strikes-high-grade-silver-in-step-out-drilling-at-mt-carrington--30403.html White Rock Minerals (ASX: WRM) has identified high grade silver outside the existing 730,000 ounce gold equivalent resource at the company’s Mt Carrington gold silver project in New South Wales.

Drilling at the Mozart prospect has returned a peak result of 12.7 metres at 381 grams per tonne (g/t) silver from 133.3 metres, within a broader intersection of 26.5 metres at 220g/t silver.

This result indicates potential for a shallow deposit which could add to the existing resources at Mt Carrington. Further step out drilling is underway at Mozart.

The Mozart prospect is one of a number of targets that White Rock plans to drill in 2012.

Scoping Studies on the shallow resource base at Mt Carrington are advancing, with initial model parameters expected in July.

Definitive metallurgical test work will follow in the September quarter 2012, with feasibility studies and development decisions planned for 2013.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

]]>
Fri, 22 Jun 2012 09:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147310/white-rock-minerals-strikes-high-grade-silver-in-step-out-drilling-at-mt-carrington--30403.html
<![CDATA[News - White Rock Minerals intercepts 10 metres at 248g/t silver outside Mt Carrington Resource ]]> http://www.proactiveinvestors.com.au/companies/news/147309/white-rock-minerals-intercepts-10-metres-at-248gt-silver-outside-mt-carrington-resource-28497.html White Rock Minerals (ASX: WRM) has intercepted high grade silver at a new prospect close to the company’s 730,000 ounce gold equivalent Mt Carrington Project in New South Wales.

Initial drilling at the Mozart prospect returned a peak intercept of 10 metres at 248 grams per tonne (g/t) silver within a broader intersection of 33 metres at 97g/t silver from 154.5 metres. Follow up drilling is planned at the prospect this quarter.

Mozart is located 250 metres from the Silver King prospect and 800 metres from the Lady Hampden silver gold prospect. The deposit is one of 10 near mine and regional exploration targets that will be drilled in 2012.

Drilling has also commenced at the historical Red Rock prospect, 15 kilometres north of the central Mt Carrington Leases, which has potential for high grade gold, silver and copper.

The first diamond core hole at Red Rock has intersected a broad alteration zone of intermittent sulphide mineralisation down to 250 metres depth, the deepest hole drilled at Red Rock. Assays are pending.

In addition to its exploration program, White Rock is carrying out Conceptual Scoping Studies on the shallow resource base, with the aim of providing parameters for processing and mining options.

These studies will be followed by a Feasibility Study in 2013 as the company works towards development in 2014.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

]]>
Fri, 04 May 2012 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147309/white-rock-minerals-intercepts-10-metres-at-248gt-silver-outside-mt-carrington-resource-28497.html
<![CDATA[News - White Rock Minerals doubles silver Resource, increases gold at Mt Carrington ]]> http://www.proactiveinvestors.com.au/companies/news/147308/white-rock-minerals-doubles-silver-resource-increases-gold-at-mt-carrington-25211.html White Rock Minerals (ASX: WRM) has substantially increased gold and silver Resources at the Mt Carrington Project in northern New South Wales.

The updated Resource will provide the basis for conceptual mining studies, which will begin immediately, with the aim of moving to Pre-Feasibility Studies from 2013.

White Rock undertook an expansion drilling program at the 100%-owned project in 2011. Silver Resources at Mt Carrington increased by 120%, while gold Resources grew by 50%.

Overall, the Resource for Mt Carrington now sits at 17.2 million tonnes containing 284,000 ounces of gold and 23.26 million ounces of silver.

This includes silver dominant Resources of 12.2 million tonnes at 58 grams per tonne (g/t) silver and 0.2g/t gold for 22.8 million ounces of silver and 64,000 ounces gold.

Gold dominant Resources contained 5 million tonnes at 1.4g/t gold and 2.8g/t silver for 221,000 ounces of gold and 457,000 ounces silver.

]]>
Mon, 13 Feb 2012 10:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147308/white-rock-minerals-doubles-silver-resource-increases-gold-at-mt-carrington-25211.html
<![CDATA[News - White Rock Minerals’ entitlement offer to raise up to $4.5 million ]]> http://www.proactiveinvestors.com.au/companies/news/147307/white-rock-minerals-entitlement-offer-to-raise-up-to-45-million-22008.html White Rock Minerals (ASX: WRM) plans to raise up to $4.5 million through a partially underwritten entitlement offer.

The 1 for 2 non-renounceable pro-rata offer is underwritten to $3 million by E.L. & C. Baillieu Stockbroking.

Shareholders will be able to subscribe for one new share for every two shares owned at $0.15 per share, a 35.6% discount to the five day volume weighted average price of White Rock shares

Funds raised through the offer will be used to progress Resource definition drilling at the Mt Carrington gold-silver project, where exploration has returned consistently strong results.

White Rock has already established an Inferred Mineral Resource of 2.68 million tonnes at 1.9 grams per tonne gold, for 162,000 ounces gold, at the Strauss and Kylo gold deposits within Mt Carrington.

The entitlement offer will open on Wednesday November 23, 2011, and close at 5pm on Friday December 9, 2011.

]]>
Mon, 14 Nov 2011 17:51:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147307/white-rock-minerals-entitlement-offer-to-raise-up-to-45-million-22008.html
<![CDATA[News - White Rock Minerals in pre-open pending capital raising announcement ]]> http://www.proactiveinvestors.com.au/companies/news/147306/white-rock-minerals-in-pre-open-pending-capital-raising-announcement-21860.html White Rock Minerals (ASX: WRM) has been granted a trading halt pending the release of a proposed capital raising, with the company's shares placed in pre-open.

White Rock has not yet indicated where the potential capital injection will be allocated, but the company has recently been busy exploring for gold and copper at the Mt Carrington project.

At the project first resource expansion drilling is expected to be completed by the end of next month, along with preliminary metallurgical test work results.

This will then pave the way for some milestone announcements which include an updated resource in the March quarter of 2012, followed by the commencement of a Scoping Study before mid-2012.

The halt will last until the earlier of an announcement being made to the market, or the commencement of trade on Monday 14 November.

 

]]>
Thu, 10 Nov 2011 10:15:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147306/white-rock-minerals-in-pre-open-pending-capital-raising-announcement-21860.html
<![CDATA[News - White Rock Minerals hits 3m at 153 g/t silver at Mt Carrington Project ]]> http://www.proactiveinvestors.com.au/companies/news/147305/white-rock-minerals-hits-3m-at-153-gt-silver-at-mt-carrington-project-19515.html White Rock Minerals (ASX: WRM) has intersected further high grade silver from resource extension drilling at its 100%-owned Lady Hampden project in northern New South Wales.

Results include 3 metres at 153 grams per tonne (g/t) silver and 1 g/t gold from 146 metres and resource extension drilling is continuing at the Lady Hampden, Strauss and White Rock deposits.

Follow-up drilling at Lady Hampden has returned visible silver in two further holes. Also visible silver was observed in drilling at White Rock and assays are awaited.

Geoffrey Lowe, managing director, said “the current drilling at Mt Carrington is on track and assay results returned to date are exceeding our expectations."

Drilling has confirmed broad and consistent mineralised zones adjacent to all of the current Inferred Resources, and these results give the company capacity to expand the overall Resource base.

Mt Carrington contains an overall shallow Inferred Resource of 190,000 ounces of gold and 10 million ounces of silver.

The current exploration program is focused on drilling of interpreted Resource extensions to grow the Resource base.

At the Lady Hampden silver-gold deposit assay results were received for drillholes completed in July.

High grade silver was returned on the Cheviot Hills fault approximately 130 metres to the north of the Resource. The intersection in this hole complements results reported previously from the July programme including: 58m at 83 g/t silver and 1.6 g/t gold.

Drilling indicates that the mineralisation is open along strike to the north and south of the Resource, as well as down-plunge to the east.

A second phase of step-out drilling commenced this month with the first two holes of a 9-hole program confirming further silver mineralisation based on field XRF and visible analysis.

These two holes are located 300 metres to the east and down plunge of the Resource.

Importantly, assay results are due in October and  the company expects further extensions to the Inferred Resource.

Pilot metallurgical test work on core samples from each of the gold and silver Inferred Resources is underway to assess preliminary treatment and metal recovery parameters.

Results from this program are expected to be received in November.

White Rock shares rose 26% to $0.33 in intraday trading.

]]>
Mon, 12 Sep 2011 16:48:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147305/white-rock-minerals-hits-3m-at-153-gt-silver-at-mt-carrington-project-19515.html