Mining News: News Nuggets: Australian junior eyes larger VMS potential of Bonnifield district

White Rock Minerals Ltd. June 9 reported that it has begun compiling historical geochemical and geophysical surveys in order to define new high-grade zinc -silver exploration targets at the Red Mountain volcanogenic massive sulfide project in the Bonnifield District of central Alaska. The company believes there is significant potential to discover other VMS deposits similar to the Dry Creek and West Tundra Flats deposits that have already been identified on the property. Significant drill results from Dry Creek include 4.6 meters grading 23.5 percent zinc, 531 grams per metric ton silver, 8.5 percent lead, 1.5 g/t gold and 1 percent copper; and 5.5 meters grading 25.9 percent zinc, 346 g/t silver, 11.7 percent lead, 2.5 g/t gold and 0.9 percent copper. Significant drill results from West Tundra Flats include 1.3 meters grading 21 percent zinc, 796 g/t silver, 9.2 percent lead, 10.2 g/t gold and 0.6 percent copper; and three meters grading 7.3 percent zinc, 796 g/t silver, 4.3 percent lead, 1.1 g/t gold and 0.2 percent copper. White Mountain said statistical analysis suggests that the Red Mountain camp has the potential for another large VMS deposit similarly rich in zinc, silver and lead, along with the potential for smaller deposits that could be developed as a series of smaller mines. Historical explorers and the Alaska Division of Geological and Geophysical Surveys have completed numerous surface geochemical and geophysical surveys in the district, including the roughly 17,500-acre Red Mountain land package currently held by White Rock. In addition, the DGGS completed an airborne electromagnetics and magnetics survey in 2007. White Rock has begun a multi-disciplinary compilation of all available data sources of this district, combined with an interrogation and interpretation of the data. This work will use the power of modern vector analysis and 3D processing and will be directed towards defining a combination of targets, including specific extensions to the known mineralization as well as district-wide targets. Jim Franklin, a global VMS expert, has been engaged to assist in the assessment of the data, particularly with regard to using modern vector analysis of the geochemical data to identify new exploration targets. Additionally, Condor Consulting Inc. has been retained to perform a detailed interpretation of the electromagnetics and magnetics surveys. White Rock anticipates that this work will provide a pipeline of targets for further field work in the coming months. And in turn this work will define targets for drill testing. White Rock CEO Matt Gill said, “We are wasting no time in advancing the Red Mountain project by using the extensive historical data to define new drill targets that can be tested in the near term. Using a combination of industry leading experts, our aggressive approach reinforces our belief that the Red Mountain VMS camp will yield significant new discoveries at a time when commodity prices, particularly zinc, look to be on the up.”

-Shane Lasley