White Rock Minerals Ltd (ASX:WRM, OTCQX:WRMCF)’s joint venture partner Thomson Resources has restated the Mt Carrington Project Strauss and Kylo deposits Mineral Resource Estimates (MRE) to include zinc and copper, along with gold and silver.
The upgraded MRE for Strauss and Kylo is an initial step in restating polymetallic MREs for all deposits in the Mt Carrington Project, on the basis of them being included in Thomson’s New England Fold Belt Hub and Spoke (NEFBHS) strategy.
The restated polymetallic MRE for the Strauss and Kylo deposits reported in accordance with JORC 2012, at a 0.35 g/t gold equivalent cut-off, contain an indicated and inferred resource of 6 million tonnes at 1.17 g/t gold, 1.59 g/t silver, 0.33% zinc, 0.06% copper, for a contained 225,000 ounces gold, 306,000 ounces silver, 19,800 tonnes zinc and 3,500 tonnes copper.
Restated JORC 2012 MRE for Strauss and Kylo (including Kylo West) deposits.
Thomson executive chairman David Williams said: “It is great to be able to finally talk about the polymetallic potential of the Mt Carrington Project and in the context of our Hub and Spoke Strategy.
“Whilst we will continue our robust and thorough approach to reporting MREs, given the work we had already done on the Strauss and Kylo deposits under the earn-in, we were able to quickly get these done to illustrate the potential to uplift the resources by bringing in the zinc and copper mineralisation.
“In doing that though it must be remembered that these are conservative estimates as they are limited to the previously determined gold only pit shells under the White Rock PFS.
“We will come back later to pick up the mineralisation that may exist outside of those shells.”
Background
White Rock and Thomson have signed a two-stage exploration earn-in and option to joint venture whereby Thomson can earn-in up to 70% of White Rock’s Mt Carrington gold-silver-base metal project.
Under stage 1, which takes place over three years from March 7, 2022, Thomson will earn 51% by completing at least $5 million in expenditure.
Stage 2 gives Thomson the opportunity to earn a further 19% in the project.
During this time that company must complete at least a further $2 million in expenditure.
Stage 2 is set to run for two years from the date of the companies’ election to proceed to Stage 2.
Mt Carrington 2022 Strauss and Kylo Polymetallic gold equivalent block model and larger polymetallic deposits mineralisation footprint indicated by historical drilling.
It is worth noting that in comparison to White Rock’s previously announced MRE for the Strauss and Kylo deposits, the Thomson polymetallic MRE reports a 21% increase in tonnes, 2% increase in gold ounces, 17% increase in silver ounces and 100% increase in the zinc and copper tonnes stated.
Moreover, the Thomson MRE is conservative as it has been reported inside constraining pit shells previously defined by White Rock for gold only with no allowance for the polymetallic mineralisation outside those pit shells.
Gold dominant deposits
Williams added: “As you can see, just adding these constrained estimates for Strauss and Kylo takes us a long way towards our 100 Moz AgEq target that would be available to a centralised processing facility.
“It must also be remembered that these 2 deposits are gold dominant deposits with minimal silver and we are still to bring in the silver ounces from the likes of the silver dominant deposits of Lady Hampden, Silver King and White Rock.
“Once we can add in these other deposits with our polymetallic MREs, given the estimates already published by White Rock for just the silver, I am very confident that our 100 Moz AgEq target will be well exceeded.
“The Mt Carrington picture will continue to evolve and will enhance the NEFBHS as we complete the updated MREs, fold them into the Central Processing Pathway Study, progress the metallurgical understanding and embark on drill testing the areas between the various deposits.”