White Rock Minerals is a minerals resources exploration and development company based in the historic mining centre of Ballarat in Victoria, Australia.
White Rock owns the Red Mountain project in central Alaska – a high-grade zinc-silver-lead-gold project – and the advanced Mt Carrington gold-silver project in New South Wales.
Red Mountain has a Mineral Resource estimate of 9Mt grading 13% zinc equivalent, giving White Rock a quality advanced exploration project in an established mining district with significant potential to discover large zinc-silver-lead-gold-copper deposits in addition to extending the known zinc-silver-lead-gold deposits at Dry Creek and West Tundra Flats.
Mt Carrington is underpinned by a Mineral Resource estimate of more than 340,000 ounces of gold and 23 million ounces of silver.
The Mineral Resources are situated in seven surface deposits, all located on granted Mining Leases and with developed infrastructure. Following a positive Pre-Feasibility Study in late 2017, the Company can now progress Mt Carrington through a Definitive Feasibility Study and permitting process prior to a Decision to Mine, at which point a construction and commissioning finance package is available, subject to certain conditions.
White Rock, in conjunction with its joint venture partner Sandfire, is aggressively exploring its globally significant high-grade zinc and precious metals project Red Mountain in central Alaska.
Sandfire will spend A$8 million in the first year of exploration. White Rock sees significant discovery potential, given the lack of modern day exploration at Red Mountain.
White Rock continues to progress the Mt Carrington Gold-Silver Project in New South Wales, with the Company exploring avenues with interested parties and several corporate advisory groups. White Rock is in position to commence a Definitive Feasibility Study and the Approvals process for the project, pending funding opportunities.
The Red Mountain Project is located in central Alaska, 100km south of Fairbanks, in the Bonnifield Mining District. The tenement package comprises 730 mining claims over a total area of 475km².
The Red Mountain Project contains polymetallic VMS mineralisation rich in zinc, silver and lead and also with significant gold and copper. There are already two high grade deposits with an Inferred Mineral Resource of 9.1 million tonnes @ 12.9% ZnEq for 1.1Mt of contained zinc equivalent.
In March 2019, White Rock entered into a joint venture agreement with Sandfire Resources NL (ASX:SFR) (Sandfire), allowing Sandfire to earn up to 51 per cent of Red Mountain by spending A$20 million on exploration over four years.
Sandfire can increase its interest in Red Mountain to 70 per cent by sole-funding a further A$10 million and delivering a pre-feasibility study with an Ore Reserve within a further two years. White Rock can then choose to retain a 30 per cent interest by contributing its share of expenditure.
Mt Carrington is located 5km from the township of Drake in northern New South Wales. Rex Minerals Ltd acquired Mt Carrington in April 2008 and completed two years of exploration before the project was spun out of Rex with the formation of White Rock Minerals in June 2010.
White Rock generated an extensive exploration target portfolio and undertook Resource definition drilling. Whilst exploration for shallow gold and silver deposits has been White Rock’s primary focus, recent exploration has also focused on the potential for the project to host significant intrusion-related (porphyry) copper mineralisation, with drilling and geophysics defining a large alteration system open to the west and at depth.
Mt Carrington has gold and silver Mineral Resources and a Maiden Ore Reserve of 3.47 million tonnes at 1.4g/t gold, for 159,000 ounces of gold defined by White Rock. The stage 1 Pre-feasibility study has confirmed Mt Carrington as a viable gold first (silver later) project with significant potential upside in subsequent silver production and future gold and silver exploration.