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Large investment into White Rock Minerals a ‘great endorsement of the project’

White Rock Minerals (ASX:WRM) managing director & CEO Matthew Gill updates Proactive Investors on the base metals explorer’s Red Mountain Project in Alaska and Mt Carrington Project in NSW.

Drill testing of the massive sulphide horizon at Red Mountain confirmed the recent Hunter prospect discovery, intersecting zinc-rich mineralisation with assays grading up to 17.4% zinc.

“We’ve been there only three months, since mid-May, we’ve done over 3,000 metres of drilling since then, [and] some of our drill results are the best that have been achieved from that deposit,” Gill says.

White Rock recently saw a large investment into the Red Mountain project from gold developer Sandfire Resources NL (ASX:SFR), with Sandfire becoming White Rock’s largest shareholder by investing $2.5 million into the company.

Gill continues, “We’ve been telling the investment community about Red Mountain. It seems to have taken a while for that to get traction … but Sandfire certainly saw what we see, and that’s a great endorsement of the project.”

Quick facts: White Rock Minerals Ltd

Price: 0.415 AUD

ASX:WRM
Market: ASX
Market Cap: $30.17 m
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on 30/6/20

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