TORONTO, ONTARIO--(Marketwire - June 26, 2009) - White Pine Resources (TSX VENTURE:WPR)("White Pine")(formerly WSR Resources), Noront Resources (TSX VENTURE:NOT)("Noront") and Golden Valley Mines (TSX VENTURE:GZZ)("Golden Valley") Joint Venture Project along the Ring of Fire in the James Bay Lowlands, is pleased to report that several promising new Zn-Cu-Ag Volcanogenic Massive Sulphide ("VMS") discoveries were intersected in the recent first phase drilling program on the joint venture project.
The Luc Bourdon and Bourdon West properties (a combined 8,944 hectares) were staked by Golden Valley in the 'Ring of Fire' in the spring of 2008. This ground was subsequently optioned to White Pine and Noront in August 2008, whereas White Pine and Noront could equally earn a combined undivided 70% of the property by incurring expenditures of $5 million within 3 years of the agreement date. White Pine is the operator of the joint venture.
In the fall of 2008, an airborne VTEM geophysics program was completed over the properties, which outlined several high priority drill targets all spatially associated with the 5.01 Zn-Cu-Ag discovery made last year by White Pine Resources and Metalex Ventures. Drilling recently commenced in late April on these geophysical anomalies with the objective to test 5 of the stronger VTEM targets. The program has now been completed having drilled 1,473m through 12 holes in 6 targets. All the targets produced semi-massive to massive sulphides over various widths and 5 out of the 6 targets drilled carried significant to elevated base metal values. Four of the six VTEM targets tested produced significant to elevated Zn-Cu-Ag values, and one anomaly had anomalous Ni-Cu-Pt-Pd-Au values. Details of the drill program are tabled below:
TABLE 1. Drill hole locations in the order they were drilled.
Anomaly Hole # UTM n UTM e Azi Dip Length
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G4 G4-09-01 5896483 519991 120 -50 130
Bourdon West BW-09-01 5900243 504845 0 -50 105
G1 G1-09-01 5903947 515396 315 -50 90
G1 G1-09-02 5903947 515396 315 -80 113
G1 G1-09-03 5903944 515452 335 -50 109
G1 G1-09-04 5903902 515361 335 -50 96
G1 G1-09-05 5903902 515361 335 -75 140
G3 G3-09-01 5904665 520344 0 -50 91
G3 G3-09-02 5904665 520344 0 -75 103
G7 G7-09-01 5901645 529784 0 -90 97
G6 G6-09-01 5902070 522500 270 -50 139
G6 G6-09-02 5902070 522605 270 -50 264
TABLE 2. Drilling results.
Anomaly Hole No. From To Interval Zn% Cu% Ag
(m) g/t
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G4 G4-09-01 92.35 94.45 2.10 0.45 0.59 4.9
G1 G1-09-01 36.90 45.60 8.70 3.73 0.90 25.7
including 36.90 42.60 5.70 5.60 0.90 34.9
G1 G1-09-02 80.30 97.40 17.10 1.70 0.36 5.4
including 80.30 85.80 5.50 5.10 0.39 5.7
G1 G1-09-03 79.30 79.75 0.45 0.85 0.15 5.3
G1 G1-09-04 70.20 71.90 1.70 1.67 0.34 11.2
G1 G1-09-05 122.00 128.60 6.60 0.78 1.29 16.8
G3 G3-09-01 56.10 68.35 12.25 0.34 0.10 5.3
G3 G3-09-02 86.45 93.60 7.15 0.83 0.13 6.1
including 86.45 89.30 2.85 1.20 0.15 6.8
G7 G7-09-01 NSA
G6 G6-09-01 69.10 77.80 8.70 1.40 0.10 8.7
Bourdon West From To Interval Ni% Cu% Pt Pd
(m) ppb ppb
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BW-09-01 36.3 37.2 0.9 0.23 0.10 7 40
Intervals may not represent true width.
The exploration program was managed by White Pine for the Joint Venture partners under supervision of Mike Kilbourne, P.Geo, President, White Pine Resources Inc. Mr. Kilbourne prepared this release and states, "White Pine is very excited about this potential new VMS belt. This program was designed and budgeted to test some of the more prominent VTEM anomalies spatially associated with the 501 discovery. Five of the six anomalies we drilled produced some very encouraging results coupled with mineralogical and geological indications typical of VMS deposits. These anomalies are spread out over many kilometres suggesting a very active VMS environment in an unexplored greenstone belt. The G3 anomaly alone is outlined by VTEM for 1200m in strike length. The G6 anomaly, a very weak VTEM response, was not considered a primary target at all and was only drilled due to the proximal location (500m northeast) of the 501 discovery. There are numerous VTEM anomalies with the same geophysical signature as G6 in this belt that will need testing. This area of the Ring of Fire has the potential to develop into a major VMS camp."
G6 G6-09-02 189.00 199.40 10.40 1.00 0.05 5.5
