Whitehorse Gold drills 8.9 metres of 6.5 g/t gold at Skukum, Yukon, shares up
Whitehorse Gold Corp. [WHG-TSXV; WHGDF-OTC] reported 2020 diamond drilling program results from its 100%-owned Skukum gold project located in the Whitehorse mining district, southern Yukon.
The drill program on the Skukum Creek Deposit consisted of 4 drillholes designed to better define the deeper portion of the Rainbow Zone, validate historic drill hole intercepts and to test re-interpreted, potentially thicker, and higher-grade portions of the deposit.
Drill hole SC20-001 returned 8.93 metres (8.07 metres true width) grading 6.54 g/t gold and 186.9 g/t silver, including 7.80 g/t gold and 306.05 g/t silver over 2.16 metres, including 21.40 g/t gold and 563.00 g/t silver over 1.22 metres plus 5.275 Lead and 3.59% zinc in the Rainbow Zone. Critically, while the precious metal grade is similar to historic drill holes the true width of the interval was more than 2.5 times greater than previously modeled. Results from the three other holes are pending.
Kevin Weston, CEO, stated, “This first hole from the 2020 exploration drilling confirmed the high-grade nature of the Rainbow Zone and more importantly that thicker zones of mineralization occur at depth. The presence of multiple generation gold-bearing veins is highly encouraging indicating the presence of a long-lived large precious metal system. We look forward to receiving and reporting the remainder of the drill results.”The Project covers an area of 170 km2 and is located approximately 55 km south of Whitehorse with year-round road access. The project hosts three deposits with Mineral Resource Estimates and Underground Development (Skukum Creek deposit, Goddell deposit, and the past-producing Mt. Skukum Gold Mine) along with multiple mineralized showings.
Skukum Creek Indicated Resources are 188,334 oz gold and 5,355,478 oz silver with Inferred Resources pegged at 86,124 oz gold and 1,869,065 oz silver. Godell Indicated Resources are 86,210 oz gold with Inferred Resources at 110,867 oz gold. Mt Skukum Inferred Resoureces are 26,882 oz gold and 37,368 oz silver.The 2020 resource estimates are:
The project hosts the advanced-stage Skukum Creek, Goddell and Mount Skukum high-grade gold deposits and multiple high-priority exploration targets. Project infrastructure includes an all-weather access road, an all-weather 50-person camp, approximately 4.8 km of underground workings, an extensive surface road network and a previously operating 300-tpd mill along with a tailings management facility and service buildings.
In December 10 trading, shares of Whitehorse Gold gained $0.61, up 23.5%, to $3.21 on a volume of 197,300.