White Rock Minerals (WRM)

Shares / Stock Code

WRM

Stock Exchange / Sharemarket

ax

White Rock Minerals (WRM) is a gold and silver exploration company with projects located in the New England Fold Belt in New South Wales. Investors can trade shares on the Australian Stock Exchange (ASX).

Guyra Project

The Guyra project is targeting porphyry copper-gold style mineralisation in the southern NEFB. The project comprises two tenements, EL7255 and EL7395. EL 7255 is located immediately east of the town of Guyra approximately 35km north of Armidale. EL 7395 is centred on the village of Glencoe about 75km north of Armidale. Both tenements cover mostly cleared gentle to steeply undulating farm land. Access is via the New England Highway and paved regional roads with secondary roads and farm tracks providing access within the tenements.

The Guyra project is located on the New England plateau and both EL’s are dominated by Tertiary Basalt flows. Topographic lows locally expose inliers of NEFB basement rocks, which in the Guyra area comprise hornfelsed and altered silty sediments and minor rhyolite of the Sandon Beds. In places the Sandon Beds are intruded by monzonitic porphyry and hydrothermal polymict breccias. EL7255 contains two such inliers in the basalt cover at the Washpool and Willow Glen prospects.

Previous exploration of the project area was undertaken by Freeport of Australia Inc (“Freeport”) in joint venture with Tinga Holdings Pty Limited (1983-1984), Newcrest Mining Limited (“Newcrest”) between 1993-1994 and Paradigm Metals Limited (“Paradigm”) between 2002-2008.

Work has focused predominantly on the exposed windows of mineralised porphyry and altered meta-sediments at Willow Glen and Washpool in EL7255. Previous rock chip sampling has returned up to 1.6g/t Au, 0.24% Cu, 72g/t Ag and 1600ppm Mo results. Previous drilling has intersected large zones of sub-economic copper mineralisation in altered basement porphyry, and there is evidence to indicate that copper is increasing in grade with depth.

White Rock is encouraged by the exploration results to date for Guyra, which support the case that the exposed Willow Glen porphyry is likely part of a much larger system concealed by the overlying Tertiary basalt cover. Observations from previous work indicate that the porphyry system exhibits complex alteration and mineralisation characteristics with at least eight stages of alteration, veining and sulphide deposition.

Within the exposed windows there is good evidence of geochemical zonation with isolated Pb-Zn, Cu and Mo anomalies, however the extent of exposure is too limited to accurately interpret internal vectoring towards the centre of the porphyry system. It is likely that a complex mineralising history has resulted in different levels of mineralisation with a significant portion of the system likely still preserved at depth and beneath the basalt cover.

White Rock plans to complete more extensive electrical geophysics to map out the extent of alteration associated with the porphyry system under cover. Importantly the basalt cover is generally less than 70m thick. Modern methods of Induced Polarisation geophysics using 3D inversion modelling are expected to effectively penetrate and map alteration beneath this type and thickness of cover. Once the scale of the system is realised a program of systematic drilling will be prioritised based on interpreted zonation patterns using both geophysics and a re-interpretation of the alteration mineralogy and geochemistry from previous drilling, surface mapping and sampling