White Rock Minerals Ltd - Share Purchase Plan raises A$10 Million
White Rock Minerals Ltd (ASX:WRM)

Share Purchase Plan raises A$10 Million

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Highlights

What's happened?

White Rock Minerals (ASX:WRM) have announced the successful completion of its Share Purchase Plan raising A$10m.

What are the key highlights?

  1. The funds received will be used to explore and drill test at the Company's flagship exploration project, Red Mountain, in the Tintina gold belt of central Alaska during the 2020 as well as the 2021 field season, focusing in particular on exploration activities at the recently discovered Last Chance gold anomaly.
  2. Red Mountain, covers a strategic district-scale tenement package of 798km2. At Red Mountain, there are already two high grade deposits, with an Inferred Mineral Resource of 9.1 million tonnes at 12.9% ZnEq for 1.1 million tonnes of contained zinc equivalent.

For further information, please refer to the announcement linked below.

Managing Director's Summary

Matt Gill

"The level of interest shown by our shareholders in this capital raising has been tremendous. It will allow White Rock to fund exploration and drilling at the Last Chance gold anomaly located in the Tintina Gold belt of Central Alaska during 2020 and also 2021 and provide sufficient working capital for the Company. Large, quality exploration targets in a gold belt that already hosts the likes of Donlin Creek (45 Moz Au), Pogo (10 Moz Au), and Fort Knox (13.5 Moz Au), do not present themselves often and White Rock looks forward to **exploring and drill testing **this evolving gold target at Last Chance. We have attracted some serious interest in the Last Chance exploration story. ... This is an exciting time for White Rock and its shareholders.”

Matt Gill
Managing Director, White Rock Minerals Ltd
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