STRAITSVIEW, NL – An Ontario company has discovered a small sample of gold and other precious metals near Straitsview on the Northern Peninsula.
And now, White Metal Resources Corp. is searching for more.
The company has found precious metals, including gold, in a site dubbed the “Gunners Cove Property,” located approximately 20 kilometres north of St. Anthony and about 1-2 kilometres south of Snorri Cabins in Straitsview.
Samples recovered from the site yielded quantities of gold, silver, copper and molybdenum.
Per White Metal Resources’ website, “Selective grab samples collected by the property vendor and submitted to the laboratory by the Company, returned values as high as 5.86 g/t (grams per tonne) gold, 8.0 g/t silver, 0.13% copper, and 375 ppm molybdenum.”
Follow-up sampling “yielded results of 10 ppb to 1480 ppb (parts per billion) gold from 33 selective grab samples collected over an area measuring approximately 800 metres long by 350 metres wide.”
According to White Metal president and CEO Michael Stares, 1,000 ppb equals one gram of gold.
Even though the site is closer to Straitsview, Stares told the Northern Pen they chose to name it the “Gunners Cove Property” because it sounded catchy.
White Metal Resources is now continuing preliminary work, researching the rock of the surrounding area.
The company has expanded its land holdings to 584 claims, totalling 14,553 hectares.
This area covers from south of St. Lunaire-Griquet to Quirpon Island.
White Metal has taken more rock samples at different locations throughout this area and is now awaiting results of a chemical analysis of the samples.
The samples are being reviewed for gold and 32 other minerals – including copper, nickel and silver.
“This is just preliminary work right now and until we do a lot more work there, we have no idea (what’s there) at this point,” said Stares.
He’s hoping the results are positive.
“If the results are favourable, and I have no idea one way or the other, I’ll probably be coming up that way in the early spring to give the town (St. Lunaire-Griquet) an update,” he said.
As of Oct. 30, Stares chose not to speculate what work the company may conduct next until the results are issued in the next two to three weeks.
For more information on the project, visit www.whitemetalres.com