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New Mineralized Target at Yukon Project Could Boost Resource to 2,000,000 Ounces, Entice Buyer

November 9, 2021 ( Newswire) “The fact that White Gold’s drilling hit fairly wide zones of high grade at shallow depth bodes well for both the mineral endowment and mineability of the emerging zone,” noted a Stifel report.

In a Nov. 1 research note, Stifel analyst Stephen Soock reported that
drill results from White Gold Corp.’s (WGO:TSX.V; WHGOF:OTCQX; 29W:FRA) Ulli’s Ridge “returned strong grades over good width at shallow depths (greater than 100 meters [100m]) over 500m of strike.”

“We think this could be the proximal deposit needed to get the area to greater than 2,000,000 ounces (2 Moz) and be an attractive carveout target for a major,” Soock wrote. Ulli’s Ridge is about 3 kilometers from White Gold’s Golden Saddle/Arc deposit in the Yukon, the global resource of which now amounts to 1.54 Moz. White Gold aims to spin out and sell the deposits once they reach the 2 Moz mark, the analyst indicated.

Soock reviewed the new drill results, which are from 11 rotary air blast holes. Eight of the holes were drilled at Ulli’s Ridge, three at Minneapolis Creek.

Those at Ulli’s Ridge show that three southeast-trending structures that dip steeply host the mineralization there, and it remains open in all directions. Highlight assays include 4.67 grams per ton (4.67 g/t) gold over 6.1m, 4.43 g/t gold over 1.52m, 2.26 g/t gold over 9.14m and 1.35 g/t gold over 21.33m.

“The fact that drilling hit fairly wide zones of high grade at shallow depth bodes well for both the mineral endowment and mineability of the emerging zone,” wrote Soock.

White Gold will likely conduct follow-up drilling at Ulli’s Ridge in 2022 to further expand and define the deposit.

The Minneapolis Creek holes hit mineralization but the results were “lackluster,” Soock noted, with grades between 0.41 g/t and 1.46 g/t and narrow widths. These subpar results are not of great concern, though, the analyst added, because White Gold’s “extensive land package hosts no end of prospective targets to keep the discovery pipeline full.”

Looking forward, Soock wrote that Stifel expects the stock of White Gold, which has multibagger potential, “to rerate as advanced exploration targets are drilled (including Titan, Vertigo, Betty, Sabatoge, etc.) and additional discoveries continue to be made. We also anticipate the sale of the Golden Saddle/Arc to be a major positive catalyst.”

Stifel has a Buy rating and a CA$2.70 per share target price on White Gold, the current share price of which is about CA$0.50.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: White Gold Corp. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with White Gold Corp. Please click here for more information.

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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of White Gold Corp., a company mentioned in this article.

Important Disclosures and Certifications From Stifel Canada, White Gold Corp.

I, Stephen Soock, certify that the views expressed in this research report accurately reflect my personal views about the subject securities or issuers; and I, Stephen Soock, certify that no part of my compensation was, is, or will be directly or indirectly related to the specific recommendations or views contained in this research report. White Gold is a client of Stifel Canada or an affiliate or was a client of Stifel Canada or an affiliate within the past 12 months.

White Gold is provided with investment banking services by Stifel Canada or an affiliate or was provided with investment banking services by Stifel Canada or an affiliate within the past 12 months.

Stifel Canada or an affiliate has received compensation for investment banking services from White Gold in the past 12 months.

Stifel Canada or an affiliate expects to receive or intends to seek compensation for investment banking services from White Gold in the next 3 months.

The equity research analyst(s) responsible for the preparation of this report receive(s) compensation based on various factors, including Stifel’s overall revenue, which includes investment banking revenue.

Please visit the Research Page at for the current research disclosures and respective target price methodology applicable to the companies mentioned in this publication that are within Stifel Canada’s coverage universe. For a discussion of risks to target price including basis of valuation or methodology, please see our stand-alone company reports and notes for all stocks.

The information contained herein has been prepared from sources believed to be reliable but is not guaranteed by us and is not a complete summary or statement of all available data, nor is it considered an offer to buy or sell any securities referred to herein. Opinions expressed are as of the date of this publication and are subject to change without notice. These opinions do not constitute a personal recommendation and do not take into account the particular investment objectives, financial situation or needs of individual investors. Employees of Stifel, or its affiliates may, at times, release written or oral commentary, technical analysis or trading strategies that differ from the opinions expressed within. Stifel or any of its affiliates may have positions in the securities mentioned and may make purchases or sales of such securities from time to time in the open market or otherwise and may sell to or buy from customers such securities on a principal basis; such transactions may be contrary to recommendations in this report. Past performance should not and cannot be viewed as an indicator of future performance.

Unless otherwise noted, the financial instruments mentioned in this report are priced as of market close on the previous trading day and presumed performance is calculated always over the next 12 months.

As a multi-disciplined financial services firm, Stifel regularly seeks investment banking assignments and compensation from issuers for services including, but not limited to, acting as an underwriter in an offering or financial advisor in a merger or acquisition, or serving as a placement agent in private transactions.

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