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White Gold increases resources at Yukon project by 25%

The higher confidence indicated resource now stands at around 1.039 million gold ounces at 2.26 g/t (grams per ton)
Gold nugget
The new resources comes after last year's exploration

White Gold Corp (CVE:WGO) revealed it has expanded resources at its White Gold property in Yukon, Canada by 25%.

It comes after 2018 exploration, which was backed by the firm's partners Agnico Eagle Mines Limited (TSX:AEM) (NYSE:AEM) and Kinross Gold Corp (TSE:K) (NYSE:KGC).

Share were recently down 3.4% to $1.13 on the Toronto Venture exchange.

Higher confidence category

The higher confidence indicated resource now stands at around 1.039 million gold ounces within 14,330,000 tonnes at 2.26 g/t (grams per ton) gold.

The lower confidence inferred resource stands at 508,700 gold ounces within 10.696 million tonnes at 1.48 g/t gold, from the Golden Saddle (GS) and Arc deposits, which represents a 25% increase based on 2018 activities.

“This expansion of the mineral resource estimate further demonstrates the continued success of our systematic data driven exploration methodologies and the value we are generating across our unique portfolio of assets," said David D’Onofrio, chief executive at White Gold.

"The growth in the Golden Saddle was primarily driven by the 2018 GS West Zone discovery and continued drilling of the GS Main Zone. The newly discovered GS West is part of the same mineralized system as the Golden Saddle, all of which we believe can be expanded with additional drilling."

The company boss added that continuing to grow the resource will be one element of the group's fully funded $13 million 2019 exploration program.

"The exploration season is just getting underway and we are extremely excited for what lies ahead.”

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