The White Gold District lies within the Tintina Gold Belt (a 200-km-wide, 1,200-km-long arc extending from northern British Columbia into southwest Alaska) and is underlain by rocks of the Yukon-Tanana geologic terrane. This metallogical province has past production of 29.9 million ounces and 39.3 million ounces of resources for total gold resources of 69.2 million ounces. The Tintina Gold Belt includes such large gold deposits as Pogo, Fort Knox, True North, Donlin Creek, and Shotgun and remains a prime area for gold exploration.
The significant gold intercepts reported from the Coffee Property, White Gold Property and also the QV Project of Comstock Metals further indicate the White Gold District area has the potential to host a significant gold resources. This is the same area where history lays claim to the fact that the "Mother Lode" of the original Klondike Gold Rush was never found. There are many historians, engineers and geologists who firmly believe that this is now the time where and that the true "mother-lode" waiting to be discovered. It has been quoted by several knowledgeable mining industry personalities that this latest discovery could very well be the best new gold discovery in Canada over the last several years.
The White Gold District of Yukon is one of the largest gold area plays in Western Canada. Since 2007, the White Gold District has seen gold discoveries of approximately 7 Million Oz and there have been major acquisitions and investments announced by GoldCorp, Agnico Eagle, Barrick Gold, Kinross and others.
Major Development Timeline
Major gold discovery on Underworld Resources' White Gold property.
Kaminak Gold acquired the Coffee Gold Project.
Underworld delineated the Golden Saddle deposit, with an indicated resource of 1,004,750 ounces of gold grading 3.2 g/t plus an inferred resource of 407,413 ounces of gold grading 2.5 g/t.
Kinross Gold purchased Underworld for $139 million.
Kaminak Gold announced a NI 43-101 compliant probable reserve of 46.4 Mt at 1.45g/t Au, containing 2,157,000oz Au. In addition, a NI 43-101 Indicated resource comprised 63.7Mt at 1.45g/t Au for 2,968,000oz Au, including 2,170,000 ounces gold classified as oxide, and an Inferred resource total of 52.4Mt at 1.31g/t Au for 2,212,000oz Au, including 857,000 ounces gold classified as oxide.
Goldcorp acquired Kaminak Gold Corp. and its Coffee project for about $520 million.
Klondike prospector Shawn Ryan established G4G Capital Corp. (later renamed White Gold Corp.) that represent all of Mr. Ryan's precious metal interests located in the White Gold District.
Agnico Eagle purchased 19.93% of the shares of White Gold Corp. for $14.5 million.
Newmont Mining Corporation signed an earn-in agreement with Goldstrike Resources to develop the Plateau property of up to a total of C$53 million.
ATAC Resources reached an earn-in agreement with Barrick Gold at the Rackla Gold Property (the "Orion Project"). The transactions consist of a potential total investment by Barrick of approximately $63.3 million, which includes a private placement of $8.3 million and a two staged, $55 million exploration earn-in option to acquire up to 70% of the Orion Project.
Kinross has entered into an agreement to acquire an approximately 19.9% interest in White Gold Corp. by selling its 100% interest in the White Gold exploration project.
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