White Mountain Identifies Three New Rutile Target Prospects following a Recent Geophysical Magnetic Survey of the Cerro Blanco Property
SANTIAGO, Chile, May 31, 2012 /PRNewswire/ — White Mountain Titanium Corporation (“White Mountain” or the “Company”) (OTC Bulletin Board: WMTM – News) reports that as a result of a ground, geophysical magnetic survey carried out on the Cerro Blanco property in March, 2012, three new rutile target prospects have been identified. The survey was contracted out to Santiago-based geophysical specialist consultancy Geodatos and tested the magnetic susceptibility of rock within a surveyed grid. This technique is used extensively in Chile as an exploration tool in the copper industry and the Company wanted to test its applicability to titanium exploration.
Geodatos constructed a rectangular grid measuring 7.5 km by 3 km (2,250 hectares) comprised of 61 lines oriented northeast-southwest and spaced 50 metres apart. The grid covered the previously known main rutile prospects at Cerro Blanco – Las Carolinas, La Cantera, Chascones and Eli. Rock underlying the grid lines was subjected to a magnetic field and the magnetic response was measured. In the case of Cerro Blanco, rutile bearing rock typically exhibited a lower magnetic response than for example rutile deficient or iron bearing rocks. Based on an interpretation of the survey data, Geodatos and the Company were able to identify three new rutile target prospects warranting further investigation. These targets are:
Target 1 Hippo Ear
This target covers an area of approximately 16 hectares and is located directly south of the Las Carolinas prospect. Since completing the survey, detailed geological mapping has been completed on this target and three trenches measuring approximately 20 metres in length, 2.5 metres deep and 1.5 metres wide have been mapped and sampled.
Target 2 Algodon Prospect
This target covers an area of approximately 44 hectares and is located approximately 1.5 km west of the Las Carolinas prospect. Geological reconnaissance and selective sampling of outcrop has been completed over approximately 60% of the target area.
Target 3 Quartz Creek
This target covers an area of approximately 77 hectares and is located directly southeast of the Las Carolinas prospect. Geological reconnaissance and systematic grid rock sampling (one sample every 25 – 30 metres) has been completed over approximately 27% of the target area. Of the 250 samples taken, some outcrop samples showed abundant rutile related to coarse quartz, albite and veinlets.
Samples taken from the target areas listed above will be submitted to ALS Chemex for XRF total rock analyses and results are expected by the middle of June, 2012.
Commenting on the work carried out so far, Brian Flower, White Mountain’s Executive Chairman, said “We are very encouraged by the results of the ground, geophysical magnetic survey recently conducted at Cerro Blanco. The potential size of these new rutile target prospects (by comparison, the central portion of the Las Carolinas prospect covers 38 hectares) and close proximity to our principal working area allows for rapid exploration follow up.”
Review by Qualified Person, Quality Control and Reports
The technical information in this news release has been prepared and reviewed by Christian Feddersen (Geologist & MSc, Member of the ComisiÃ³n Calificadora de Competencias en Recursos y Reservas Mineras, Register No 0132) the Company’s Consultant Geologist and a Qualified Person as defined by Canadian National Instrument 43-101.
About White Mountain Titanium Corporation
The Company holds mining concessions on the Cerro Blanco property currently consisting of 33 registered mining exploitation concessions and five mining exploration concessions in the process of being constituted, over approximately 8,225 hectares located approximately 39 kilometres west of the City of Vallenar in the Atacama, or Region III, geographic region of northern Chile. The Company’s principal objectives are to advance the Cerro Blanco project towards a final engineering feasibility, and to secure off-take contracts for the planned rutile concentrate output. It would be the intention to sell the rutile concentrate to titanium metal and pigment producers. Work also continues to investigate the commercial viability of producing a feldspar co-product. The feldspar could find applications in the glass and ceramics industries.
The OTC BB has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and, therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Cautionary Note to U.S. Investors — The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in our press releases and on our website, such as ‘reserves,’ ‘resources,’ ‘geologic resources,’ ‘proven,’ ‘probable,’ ‘measured,’ ‘indicated,’ and ‘inferred,’ that the SEC guidelines strictly prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosure in our annual report on Form 10K for the year ended December 31, 2007, File No. 333-129347, and in subsequent filings with the SEC. You can review and obtain copies of our filings from the SEC’s website at http://www.sec.gov/edgar.shtml.
White Mountain Titanium Corporation
Michael Kurtanjek, President
(56) 2 657-1800
Brian Flower, Chairman
SOURCE White Mountain Titanium Corporation