White Gold Founder and Technical Advisor Shawn Ryan staked the Betty Property (located in the White Gold District of the Yukon) because it is located on the eastern extension of the Coffee Creek Fault, which hosts Newmont’s multi-million ounce Coffee Gold deposit. Mr. Ryan was involved in the Coffee Discovery and he staked the Betty in 2010 for structural reasons, soil geochemistry work completed in 2010 and 2011 confirmed that the Betty hosts a large gold mineralized system, making it a highly prospective Yukon gold project.
The Coffee Gold Project was sold to Goldcorp for more than $500 million in 2016 and is now owned by Newmont. Proposed resource gateway roads will give better access to the Betty, Western Copper's Casino Deposit, and Newmont's Coffee Deposit. An announcement last week that the Yukon Government had awarded the contract for the first section of the Casino Access Road to Pelly Construction was welcome news for Yukon mining companies.
RC drilling completed by Ethos in 2012 intersected some very high-grade gold mineralization over nice widths, however, the bear market that began in the gold sector shortly thereafter meant that nothing happened at Betty for the next five years. In 2018, a small RAB (rotary air blast) drill program intersected slightly more than 1 g/t gold over 50 meters at the Betty Ford Target.
White Gold's (TSX-V:WGO, OTC: WHGOF) summer 2021 drilling at the Betty was the first ever diamond drilling on the project. The aim of the diamond drill program was to confirm the results of the 2018 RAB program and to expand the gold mineralized zone along strike and at depth. The results from 1,364 meters of diamond drilling across six holes is highly encouraging with two of the holes intersecting broad zones of gold mineralization across a 100 meter strike length including:
- Hole D003 intersected 50.0 meters of 3.46 g/t gold from 33.0 meters downhole including a higher-grade core of 5.25 g/t gold over 19.0 meters and an upper zone of 1.14 g/t gold over 6.1 meters from 15.9m.
- Hole D001 intersected 48.0 meters of 1.17 g/t gold from 19.0 meters downhole including a higher-grade core of 2.38 g/t gold over 10.0 meters and an upper zone of 9.03 g/t meters over 1.0m from 6.0m.
The results of the 2021 diamond drilling at Betty Ford actually improved the gold grades relative to the 2018 RAB drilling. This is particularly true in the 3.46 g/t gold over 50 meters intersected in hole 21-03. Obviously, 3 1/2 grams per tonne gold over a 50 meter core length starting at 33 meters is a highly economic gold intersection.
White Gold's task at Betty Ford will now be to extend this gold mineralized zone along strike to the east and west. In total, the soil geochemical anomaly is 1,000 meters long and it remains open for hundreds of meters to the east. To the west it extends for another 200 meters before it is cut off by a fault.
2021 drilling at the Betty Property focused on 2 (Betty Ford and Betty White Targets) of 5 targets identified on the Betty property, with drill testing of the other targets planned for next year’s program. In addition to the diamond drilling carried out on the Betty Ford target, drilling was also carried out on the Betty White target located approximately 750 meters to the north. Assay results for the latter drilling are pending and will be announced over the coming weeks.
Results from White Gold's 2021 exploration program in the Yukon are off to a great start. WGO's share price has also begun to move higher after an extended decline that saw it briefly fall below $.50 per share:
The $.60 level is an important long term support level for WGO - while I expect WGO shares to trade higher on this morning's news, the $.60 level can be utilized as an important downside reference point (stop loss level).
Disclosure: Author owns WGO.V shares at the time of publishing and may choose to buy or sell at any time without notice. Author has been compensated for marketing services by White Gold Corp.
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