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White Rock Minerals wastes no time in combing high-gold value anomaly at Last Chance in Alaska

Last updated: 13:42 02 Jul 2020 AEST, First published: 12:37 02 Jul 2020 AEST

White Rock Minerals Ltd - White Rock Minerals “wastes no time in combining high-gold value anomaly” at Last Chance gold prospect in exploration activities
Soil sample processing back at camp within the Red Mountain Project

White Rock Minerals Ltd (ASX:WRM) has wasted no time in combing the high-gold value anomaly over an initial 15 square kilometres at Last Chance gold prospect in central Alaska after beginning on-ground exploration activities two weeks ago.

The robust nature of the gold anomaly provides a focused area for fieldwork to determine the source of this significant gold anomalism.

CEO Matthew Gill said a crew of six geologists had been kept busy mapping and sampling at the large anomaly.

New 2-year high

Reflecting a strong gold market with high prices and the company's confidence in its' strategy, shares have been up as much as 33% today to a new two-year high of 1.2 cents.

Within the wider Red Mountain Project, White Rock is undertaking a comprehensive program of geological reconnaissance across the Last Chance anomaly while a team of geologist samplers are set to undertake detailed soil geochemical sampling over the highly anomalous core area.

This area is defined by four contiguous first order stream catchments that extend over 3.5 kilometres of strike length.

View to the east from the centre of the Last Chance gold target towards the 418ppb gold stream sediment sample.

Geologists kept busy

Gill said a crew of geologists had been busy mapping and sampling with field work having started on June 16 after the establishment of a camp at Healy.

Field crews have completed 12 active days in the field with two days lost due to weather preventing helicopter access.

Most of the core area of interest has been covered with 1,185 soil samples collected and submitted to the laboratory for analysis with an overall program of 3,000 soil samples planned across the target area.

Systematic sampling coverage

As expected, sampling is hampered by snow restricting access along gullies and north-facing slopes but the summer thaw is progressing rapidly with systematic sample coverage on track for completion this month.

In addition to systematic soil sampling, the geological reconnaissance team has collected and submitted 274 rock chip samples to the laboratory for analysis with results awaited.

Based on successful definition of detailed targets from the geological reconnaissance and geochemical sampling, the company then plans to complete an initial 2,000-metre program of diamond core drilling beginning in early August.

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