With the acquisition of 100% of the Red Mountain Zinc-Silver-Lead-Gold VMS in Alaska, White Rock Minerals is ideally placed to take advantage of the current and forecast strength in zinc markets. The Company has recently completed a JORC 2012 compliant Mineral Resource Estimate for Red Mountain, returning an overall resource of 16.7Mt @ 8.9% zinc equivalent including a high grade portion of 9.1Mt @ 12.9% zinc equivalent, placing it in the top quartile of undeveloped zinc projects globally. Red Mountain also has significant upside potential – the mineralisation is open along strike and down dip, and a review of exploration data has highlighted over 30 targets with geochemical and geophysical signatures similar to the defined mineralisation. There is also good potential for VMS-related gold mineralisation, with only limited gold exploration being carried out in the past. Alaska is a well-regarded mining destination, ranking 14th globally in the 2016 Fraser Industry Survey, with Red Mountain being located within 80km of grid power and the major highway linking Seward in the south to Fairbanks in the north. White Rock also owns the Mt Carrington Gold-Silver Project in New South Wales, with 338Koz gold and 23.4Moz silver in resources. To read our report on White Rock’s Red Mountain Project please follow the link below.
Mark is a Senior Resources Analyst for Independent Investment Research, with a focus on junior and mid-cap listed resources stocks. With over 10 years as an analyst, following on from 17 years as a geologist, he has a good insight into the sector.