White Gold Corp. said March 5 that it completed a resource estimate for the Golden Saddle and Arc deposits of its namesake gold property in Canada's Yukon Territory.
The deposits host 961,000 ounces of gold within 12.3 million tonnes at 2.43 g/t of gold in the indicated category, and 282,500 ounces of gold within 5.2 million tonnes at 1.70 g/t of gold in the inferred category.
According to the statement, the estimate was based on 44,698 meters of drilling on Golden Saddle and 11,911 meters of drilling on Arc to date by the company and previous owners.
The company also believes there is significant potential to expand the current resource base and make new discoveries, given that numerous other known exploration targets on the property have received minimal to no drill testing.
White Gold acquired the property from Kinross Gold Corp. in June 2017 for C$10 million in cash and 17.5 million shares.
