White Rock Minerals (ASX: WRM)
White Rock Minerals (ASX: WRM) has just released its Maiden JORC Resource for its Red Mountain zinc-silver project in the very mining friendly jurisdiction of Alaska.
WRM now holds a project in the top quartile of undeveloped high-grade VMS (zinc, silver, gold) deposits globally.
When you consider that this is one of the highest-grade VMS zinc – silver – lead – gold deposits of any of its peers, and there are still 30 lookalike targets to be tested, WRM could be considered undervalued at its current market cap of just $13 million.
More field work is now planned at Red Mountain following encouraging results, at zones exhibiting the same signatures as the two zones already drilled, meaning plenty of newsflow to come in the coming months.
WRM also has a gold project in NSW – the Mt Carrington Gold Project – that is showing positive signs for the company, where it is currently advancing the DFS and Environmental Impact Statement.
Results from WRM’s, now completed, most recent round of drilling at Mt Carrington are due shortly.
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With a fully funded construction financing package agreed upon, around $20 million worth of infrastructure in place, and a recent round of targeted drilling completed at Mt Carrington, it’s all system go at its Australian project.