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Mining Stock News: White Metal (TSXV: WHM) Purchases Strategically Located Patent, Tower Stock Gold Project, Ontario

 

Thunder Bay, Ontario - October 29, 2020 (Newsfile Corp.) (Investorideas.com Newswire) White Metal Resources Corp. (TSXV: WHM) ("White Metal" or the "Company") is pleased to report that it has recently purchased 100% ownership of an important freehold patent (the "Lee Patent"), located centrally within the greater boundary of the Tower Stock Gold Property (the "Property" or the "Project"). The Project, which has not seen any exploration activity for more than eight years, is located about 40 km west-northwest of the port city of Thunder Bay, Ontario and now consists of 81 Single Cell Mining Claims, 11 Single Cell Boundary Claims, four freehold land grants or patents, covering about 1941 hectares. Purchase of the Lee Patent is subject to payment of a $5,000 finders' fee.

Michael Stares, President and CEO of White Metal, commented, "We are very pleased to have purchased the Lee Patent which is a great addition to the Tower Stock Gold Project. This new addition to the land base adds another key component to our aim of building gold ounces and filling in the region northwest of the Bench Zone and northward toward the U-V Gold Deposit. I am very excited about the potential of the Property to host an economic gold deposit or deposits, given that historical drilling has reported both high-grade gold and lower-grade gold intercepts which could be amenable to both underground and open pit mining methods."

The Lee Patent, is strategically located immediately west of the Bench Zone and south of the U-V Gold Deposit to the north and covers the historical "A-Zone". The A-Zone and Lee Patent have seen historical work by Noranda and Inco, which included diamond drilling and trenching. Some of the highlights of the historical trench sampling by Noranda include 6.17 g/t Au over 6 m and 5.26 g/t Au over 7 metres. Historical diamond drilling by Noranda (1985-1987) reported intercepts of 16.5 g/t Au over 3 m, including 30.5 g/t over 1.0 metres (DDH 18) and several other drill holes with 1.0 metre intercepts ranging from 3.09 g/t Au to 18.2 g/t Au. The geology within the Lee Patent is described as a combination of syenite and Late Archean Timiskaming volcanic rocks. A Qualified Person ("QP") has not done sufficient enough work to verify the historical assay results and technical information reported herein. An updated Tower Stock Gold property map can be found on the Company's website at www.whitemetalres.com.

The Company anticipates having its drilling permits very soon and believes that with the acquisition of the Lee Patent, it has now tied up a very strong land position ahead of beginning its winter drilling program, planned for mid-January 2021.

Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Exploration and a Director of White Metal, who is a Qualified Person under the definitions established by the National Instrument 43-101.

About White Metal Resources Corp (TSXV: WHM):

White Metal Resources Corp is a junior exploration company exploring in Canada

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For more information in regards to White Metal Resources Corp. you can visit the Company's web page at www.whitemetalres.com.

On behalf of the Board of Directors of White Metal Resources Corp.

"Michael Stares"
President & CEO, Director

For further information contact:

Michael Stares
President & CEO, Director
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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