White Knight Resources Ltd.: Placer Dome Discovers New Gold Zone on Indian Ranch Project, Cortez Trend.
Based on the information received to date, White Knight believes a Carlin System may be developed within the preferred stratigraphic horizon. The gold intercept and drilled alteration suggests potential for a nearby Carlin-style deposit. Placer has mobilized a drill rig for follow-up on this new discovery and a program of four to six holes totaling 1800 to 2400 meters is in progress.
About the Company
White Knight is an exploration company active in finding and exploring mineral prospects. The Company has been exploring Nevada since 1993 and currently controls the second largest land holding in the Cortez Trend. Its property portfolio includes 18 properties (over 60,000 acres), sixteen of which are located in the Cortez Trend. The 2005 exploration season is very active for the Company as the total anticipated drilling exposure during the 2005 field season is expected to be approximately 70,000 feet. The Indian Ranch property is located within the Cortez Trend, north central, Nevada. The Company owns an undivided 75% interest. Placer Dome may earn 60% of the Company's interest by spending US$2,000,000 over a 4-year period. Upon vesting its 60% ownership, Placer Dome can elect to earn an additional 15% by financing a feasibility study on the property.
This news release was reviewed and the contents have been verified by the Company's Qualified Person, John M. Leask, P.Eng.
On behalf of the Board of Directors,
John M. Leask, P.Eng., Chairman of the Board
The TSX Venture Exchange does not accept responsibility for the ad equacy or accuracy of this release.
White Knight Resources Ltd. (TSX VENTURE:WKR)