White Pine Resources Inc. is a resource exploration company engaged in the exploration and development of key assets throughout Canada. With its presence in the prolific “Ring of Fire” (“ROF”) discovery camp situated in the James Bay Lowlands of Ontario, White Pine has recently added to its portfolio a large land package in the White Gold District of the Yukon.
This acquisition was spearheaded with Shawn Ryan, voted 2010 Prospector of the Year by British Columbia’s mineral and exploration sector and awarded Mining Person of the Year 2010 by the Northern Miner and the PDAC Prospector of the Year. Shawn Ryan is riding on the success of optioning the initial ground which led to the discovery of the Underworld Deposit, which has since been sold to Kinross for $140 million; and the Kaminak Gold land package, which has had success with several gold discoveries. White Pine’s total land holdings in the White Gold District equate to over 37,000 hectares.
Through a key joint venture with Metalex Ventures, White Pine Resources has been aggressively exploring highly prospective ground on the ROF since 2008. This aggressive approach has rewarded White Pine with an important high grade Zn-Cu-Ag discovery with the Metalex joint venture called the 501. Multiple Zn-Cu-Ag discoveries around the 501 has shown that this area of the ROF holds potential for a significant base metal discovery. Important economic developments of the ROF last year were the large financial input of Cliffs Natural Resources Inc. (“Cliffs”) through the acquisitions of Spider Resources Inc. and Freewest Resources Canada Inc. for their large chromite deposits. Cliffs continues to work diligently to bring the first mining operation to this remote area by 2015.
White Pine hopes to continue to add to its success in 2011 with exploration programs scheduled for all land holdings.