The resource is “one of the highest-grade open-pit gold resources in Canada owned by an exploration company,” CEO David D’Onofrio said in a news release. He pointed to the deposits’ growth potential and the myriad underexplored areas within the company’s 3,150 sq. km claim package, representing 40% of the White Gold District.
White Gold is searching for the source of over 20 million oz. of placer gold discovered during the Klondike Gold Rush 125 years ago.
At C$0.22 apiece, White Gold shares were flat Wednesday afternoon in Toronto, having touched C$0.208 and C$0.415 over the past 12 months. It has a market capitalization of C$38.8 million.
Untapped upside
The Yukon’s potential for major deposits has been demonstrated before.
Newmont’s (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) Coffee deposit holding 50.2 million tonnes measured and indicated at 1.28 gram gold per tonne for 2.1 million oz. of…
