Nearly 3 Million Ounces of Yukon Gold Are Getting a Major New Drill Test

1. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

White Gold Corp. (WGO:TSX.V; WHGOF:OTCQX; 29W:FRA) provided an update on its fully financed 2026 exploration program across its land package in the White Gold district of Yukon, Canada, reporting that 18 diamond drill holes totaling approximately 7,000 meters had been completed to date.

Three drill rigs were operating as part of a program targeting 15,000 to 20,000 meters of diamond drilling. The program began on May 28 with one drill and expanded to three drills within two weeks. The company's stated primary objective was to add ounces to its resource estimate by targeting near-deposit mineralization at the Golden Saddle, Arc, Ryan's Surprise, and VG deposits.

At Golden Saddle, three holes had been completed to test the expansion of the high-grade core and parallel zones in the hanging wall and footwall. The Golden Saddle open-pit resource contained 1.614 million ounces indicated in 31.03 million tonnes grading 1.62 grams per tonne gold and 268,700 ounces inferred in 7.84 million tonnes grading 1.07 g/t gold.

The company said remaining Golden Saddle drilling included further extension and expansion of the main zone and parallel zones, along with growth along strike toward Golden Saddle West. Relogging and sampling had also begun on previously unassayed footwall and hangingwall host rocks that were not assayed during historical drilling.

Five holes had been completed at VG to extend mineralization down plunge and along strike toward the east. The VG deposit comprised 296,000 inferred ounces in 6.285 million tonnes grading 1.46 g/t gold. Additional step-down and strike-extension drilling remained.

At Ryan's Surprise, seven stepout holes had been completed to expand mineralization east and west along strike. The deposit contained 293,400 inferred ounces in 5.82 million tonnes grading 1.57 g/t gold and had a mineralization footprint measuring approximately 550 meters north-south by 500 meters east-west to a vertical depth of 650 meters. Additional extension drilling along strike and at depth was planned.

Drilling at the Arc deposit was planned for the second half of the exploration program. Arc contained 115,800 indicated ounces in 4.113 million tonnes grading 0.88 g/t gold and 397,000 inferred ounces in 12.25 million tonnes grading 1.01 g/t gold.

The 2026 work followed drilling conducted in 2025, when reported Golden Saddle intervals included 56.10 meters grading 3.23 g/t gold in hole WHTGS25D0216 and 50.2 meters grading 6.89 g/t gold in WHTGS25D0218A.

"With 18 holes and over 7,000 meters completed so far, this program is off to a strong start on our core objective: growing the resource base around our four known deposits: Golden Saddle, VG, Arc, and Ryan's Surprise, which all remain open," Vice President of Exploration Dylan Langille said in the news release.

The company was also conducting mapping and prospecting on early-stage targets across the White and QV properties. The work identified targets, including Golden Saddle 2.0 and VG East, while a large suite of hand specimens had been collected and submitted to a laboratory for analysis.

White Gold also reported that a maiden preliminary economic assessment for the White Gold project was underway and expected to be delivered along with drill assays in the near term.

Gold Sector Holds Near US$4,000 as Central Bank Buying Remained in Focus

JM Bullion reported on August 4 that gold was US$4,061.60 per ounce at 6:43 a.m. EDT. The source said gold spot prices could fluctuate by the second and were driven by investment supply and demand and other factors. The site further reported that gold had maintained strong performance over the preceding year, with historical data showing a 19.99% increase over the one-year period. The source said investment supply and demand, currency values, and current events were among the factors affecting the spot price. It also pointed to continued official-sector demand, stating, "With central banks still stacking bullion and demand holding firm, gold continues to earn its reputation as a steady, trusted store of value through whatever the news cycle brings."

Kitco News reported on August 3 that central banks had purchased 288.9 metric tons of gold during the second quarter, a 62% increase from a year earlier and a record for a second quarter, according to World Gold Council data cited in the report. Central bank purchases totaled 345 tons during the first half of the year, which Kitco said was the lowest first-half total since 2022.

The Kitco report also examined the difference between the market value of gold and the value assigned to U.S. government gold holdings for accounting purposes. The United States continued to value its gold at US$42.2222 per ounce under a statutory figure established in 1973. Economic historian Phillip Magness told Kitco that the accounting value did not determine the market price. "If you put a fixed number on paper but the market is actually valuing this at something very differently than the fixed number, as soon as the market is allowed to operate, the price will change," he said.

Gold remained within a relatively narrow recent trading range as investors weighed interest rates, inflation, and geopolitical developments, Reuters reported on August 4. ActivTrades senior analyst Ricardo Evangelista said, "Gold prices have been stuck in a narrow range over the past few weeks, trading roughly between US$4,000 and US$4,100, as investors remain uncertain about the Federal Reserve's interest rate path."

Reuters reported that higher energy costs associated with the Middle East conflict had contributed to inflation concerns and the prospect of tighter U.S. monetary policy. Because bullion was a non-yielding asset, higher interest rates tended to reduce its appeal. Evangelista also identified broader factors affecting the gold market, saying, "Over the longer term, the outlook for gold remains positive, supported by rising global debt levels, persistently elevated inflation, continued central bank purchases and constrained mine supply growth."

Expert Highlights Planned Critical Metals Spinout

On July 31, Bob Moriarty of 321gold.com commented on White Gold in an exclusive quote to Streetwise Reports, pointing to the company's planned spinout of six critical metals projects in the West Central Yukon to existing White Gold shareholders.

"White Gold is running a 2-for-1 special until August 11, where the company intends to spin out six critical metals projects in the West Central Yukon to existing White Gold shareholders," Moriarty said.

He said the six properties contained non-core deposits of copper, moly, tungsten, and other critical metals, while White Gold focused on its 40% interest in the entire White Gold district. Moriarty also noted that White Gold had already reported approximately three million ounces of what he described as "the highest grade gold in the district."

Drilling, New Targets, and a Maiden PEA Remain on the Program

White Gold's July 2026 corporate overview outlined additional work associated with the White Gold project. The project consisted of the Golden Saddle, Arc, Ryan's Surprise, and VG zones, with a mineral resource estimate of 1,732,300 indicated ounces grading 1.53 g/t gold and 1,265,900 inferred ounces grading 1.22 g/t gold. The presentation stated that the deposits remained open for expansion along strike and down dip.

At Golden Saddle, the company's exploration plans included extending the untested high-grade plunge, testing strike extent and continuity toward Golden Saddle West, and testing parallel zones of mineralization. The corporate overview described 10,000 to 15,000 meters aimed at those areas.

Historical core sampling represented another work stream at Golden Saddle. The corporate overview stated that 7,350 meters of the 60,150 total meters drilled remained unsampled, representing 12.2% of meters drilled since 2008. Most of the unsampled core was in the hanging wall, with additional unsampled core in the footwall. The company said it was systematically assaying historical holes within the zone.

At Arc, the corporate overview described approximately 1.5 kilometers of continuous mineralization and stated that the deposit was untested below 150 meters vertically. It outlined 7,500 meters aimed at doubling mineralization. The July 29 exploration update separately stated that drilling at Arc was planned for the second half of the exploration program.

At Ryan's Surprise, the presentation outlined 5,000 meters aimed at doubling mineralization. The July 29 update said additional drilling remained planned along strike and at depth following the seven stepout holes already completed.

At VG, the presentation described approximately 1.5 kilometers of continuous mineralization and stated that the deposit was untested below 150 meters vertically. It outlined 5,000 meters aimed at doubling mineralization. The current drilling program also included additional step-down and strike-extension drilling following the five holes already completed.

The exploration program also included work on targets outside the four defined deposits. Golden Saddle 2.0, approximately 2.5 kilometers east-southeast of the Golden Saddle deposits, was being evaluated for follow-up after 2026 rock sampling identified lithologies, alterations, structural fabrics, and mineralization described by the company as comparable with those observed at Golden Saddle.

VG East was another untested target, located approximately 1.3 kilometers east-northeast of the VG deposit. The target was defined by a 500-meter-by-200-meter gold-in-soil anomaly, and drilling was planned.

The corporate overview also identified the Chris Creek anomaly approximately nine kilometers northwest of VG. It described a gold-in-soil anomaly extending more than 2.2 kilometers within a broader 5.2-kilometer mineralized trend that had received no diamond drilling.

Alongside the exploration work, the maiden preliminary economic assessment remained underway. The July 29 update said the PEA and drill assays were expected in the near term.

Ownership & Share Information¹

White Gold Corp. has a market cap of CA$338.90 million, with 222.96 million shares outstanding. The company's 52-week range is CA$0.35-CA$2.38. Institutions own 5.54% of shares, while Strategic Investors own 18.78%. Management & Insiders own 17.45%, and the remaining 58.23% of shares are held by Retail.