Printer Friendly

White Knight Resources Ltd.: Placer Dome Discovers New Gold Zone on Indian Ranch Project, Cortez Trend.

VANCOUVER, British Columbia -- White Knight Resources Ltd. (the "Company") (TSX VENTURE:WKR) has been informed by its joint venture partner, Placer Dome (U.S.) Inc., that it has encountered a significant gold intercept in hole PIR 05-10 on the Indian Ranch project. Hole PIR 05-10 was part of Placer's 3-hole, 1830 metre drill campaign. The drill intercept of 9.1 metres of 1.58 g/ton is contained within a broad gold zone 102 metres thick grading 0.32 g/ton and occurs at a downhole depth of 426 metres. The mineralization is hosted within the upper Roberts Mountain formation which hosts the Pipeline and lower portions of the Cortez Hills deposits. The thickness of alteration, as well as mineralization, is consistent with many of the larger Carlin-type gold deposits. Holes PIR 05-9 and PIR 05-11 were unmineralized.

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)
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1CANA
Date:Nov 8, 2005
Words:406
Previous Article:ToolsGroup Continues to Double Revenues in the Third Quarter; Company Also Reports Client Successes and Adds Executives in UK Office.
Next Article:Sleep Country USA Launches 2005 'Secret Santa' Program for Foster Children in Oregon; Oregon Communities Invited to Brighten the Holiday Season for...
Topics:


Related Articles
Top 10 operating mines in Northern Ontario.
Nevada Pacific Gold Announces Multi-Level Business Arrangement With Placer Dome U.S. Inc.
Pelangio Announces That 25,000+ Metre Winter Drilling Programs Underway At Detour Lake.
Miranda Gold Corp. Reports Interim Drill Results at Redlich, Red Hill and Red Canyon Projects.
Placer Dome Approves Cortez Hills Project.
Placer Dome Signs Formal Agreement to Joint Venture Miranda's Fuse East Property.
White Knight Resources Ltd.: Drilling Begins at Cottonwood and McClusky Pass Properties, Cortez Trend.
Placer to Drill Bravo's South Lone Mountain.
Placer Dome Signs Formal Agreement to Joint Venture Miranda's Fuse West Property.
Miranda Gold's 2006 Joint Venture Update.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters