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White Pine Resources have recently acquired two land packages in the White Gold District of the Yukon; the Money Project, consisting of approximately 31,600 hectares and the Tender Project, totalling approximately 5,700 hectares. Both claim groups were acquired from Shawn Ryan, PDAC’s 2010 Prospector of the Year.
The White Gold deposit of Kinross Gold Corporation, which contains an indicated resource of 9,797,000 tonnes grading 3.2 g/t Au, primarily mineable by open pit methods using a cutoff of 0.5 g/t Au for open pit and 2.0 g/t Au for underground (Weiershäuser et al., 2010) lies 55 km south-southeast of the Money project and 20 km southwest of the Tender Project. The deposit types for the Money and Tender property are the intrusion related gold to epithermal models, which have been postulated for mineralization at the White Gold deposit on the White property.
On the Money Project several placer producing streams drain the project area, which include the Sixty Mile River and Twenty Mile and Thirteen Mile Creeks. Two significant gold showings, the Jual and Ten showings, apparently associated with probable Jurassic aged stocks occur 2-4 km south of the Money Project. Permian dykes have been recently dated at the Ten showing. Permian aged dykes occur at the Teacher showing at White Gold.
The Jual showing (Solomon Resources Ltd.) covers numerous north to northwest trending, flat to moderately dipping quartz veins, silicified zones, stockworks, and fault zones, hosted by the Jual stock and pendants of the Devono-Mississippian metasedimentary package. Trenching of lower order gold in soil anomalies, peripheral to higher values in surface rock samples, yielded results of 1.6 g/t Au over 25m, including 11.1 g/t Au over 3m, and 1.0 g/t Au over 19m, including 8.5 g/t over 1.5m.
The Ten showing covers a large 5.5 km long easterly trending gold/arsenic soil anomaly that now straddles the Ten (Solomon Resources Ltd.) and Dime (Stina Resources Ltd.) claim boundary with values up to 6 g/t Au in soil. A small diamond drill program obtained results of 0.71 g/t Au over 32m including 1.1 g/t Au over 9.6m in DDH-10-04 (Stina Resources website, 2010). Mineralization is hosted by pyritic, silicified metasedimentary rocks, breccias and quartz veins, proximal to the Ten stock.
Several intrusive stocks similar to those hosting the Jual and Ten showings have been delineated on the Money Project, based on similar airborne radiometric signatures. All of these exhibit low thorium/potassium ratios, which characterize the gold in soil anomalies on the Jual and Ten.
Regional stream sediment anomalies, obtained by the Geological Survey of Canada and Teck Corporation, occur on the Money Project, which include a 95 ppb gold anomaly in the southern property area, and 35 and 37 ppb Au from the northern property area. Extremely limited previous exploration within the 95 ppb gold drainage basin returned a 4 station gold in soil anomaly with maximum values of 70 ppb Au, 67 ppm Pb, coincident with a northerly trending airborne magnetic low that may reflect a structure. Limited ridge and spur soil sampling by Shawn Ryan in 2010 (265 samples on 6 lines) returned gold anomalies (maximum 47.9 ppb Au), generally associated with northerly trending structures as defined by aeromagnetic lows. Gold mineralization at Ten and Jual also appear to be associated with linear northerly trending aeromagnetic lows (defining structures) and north trending faults play an important role in gold mineralization at White Gold.
As with the Money Project, the Tender project has all the geological, structural, low thorium/potassium ratios and limited reconnaissance gold in soil anomalies that make it favourable to hosting gold mineralization similar to the White Gold Deposit, and the successful delineation of several promising gold occurrences to the south on the Kaminak claims.
White Pine looks forward to this new and exciting gold region of the Yukon, and working closely with the exploration success of Shawn Ryan and his team. The entire 2011 ground exploration programs on both the Money and Tender projects includes first pass reconnaissance soil sampling, follow-up detailed grid soil sampling and trenching, will be guided under the supervision of Shawn Ryan and his team. Airborne radiometrics and a magnetometer survey will also be completed this year.