White Gold Corp. (TSXV: WGO) (OTCQX: WHGOF) (FSE: 29W) has released results of an independent preliminary economic assessment (PEA) for its flagship White Gold Project in Yukon, Canada, located on the traditional territory of the Tr’ondëk Hwëch’in. The study outlines an after-tax net present value of C$1,911 million at a 5% discount rate and an after-tax internal rate of return of 38%, based on a base-case gold price of US$3,600 per ounce. The project envisions a 9.4-year open-pit mine producing an average of 188,000 ounces of gold annually, with investors now assessing the economic scale and growth potential of the district-stage asset.
Key Points
- White Gold Corp. (TSXV: WGO) (OTCQX: WHGOF) (FSE: 29W)
- Independent PEA delivers after-tax NPV of C$1,911 million, 38% IRR, and a 1.7-year payback period at US$3,600/oz gold
- Mine life of 9.4 years at 12,000 tonnes per day; initial capital cost estimated at C$1,050 million including contingencies; all-in sustaining cost of US$1,480/oz
- Investors may watch for resource expansion drilling, metallurgical optimisation for Arc and Ryan’s Surprise deposits, and underground mining studies at Golden Saddle
PEA Economics and Gold Price Sensitivity for the White Gold Project
The PEA, prepared by JDS Energy & Mining Inc. with contributions from Arseneau Consulting Services Inc. and Knight Piésold Ltd., projects after-tax free cash flow of C$2,685 million over the mine life, averaging approximately C$280 million per year. At a gold price of US$4,500 per ounce, the after-tax NPV rises to C$2,996 million with an IRR of 52%. The pre-tax NPV at the base case stands at C$3,081 million with a pre-tax IRR of 54%. The base-case payback period is 1.7 years after tax and 1.3 years pre-tax, reflecting what the company describes as strong early cash generation driven by a high-grade production schedule.
Open-Pit Mine Plan, Processing, and Capital Cost Structure
The PEA envisions conventional open-pit mining using shovel-and-truck methods, processing 41 million tonnes of resources at an average grade of 1.54 g/t gold with an overall strip ratio of approximately 9:1. A carbon-in-leach (CIL) processing circuit is proposed, with recovery rates of 92% for Golden Saddle and VG deposits and 72% for Arc and Ryan’s Surprise. Initial capital expenditure is estimated at C$1,050 million, including C$139 million in contingencies, with sustaining and closure costs adding a further C$472 million over the mine life. The PEA incorporates four deposits — Golden Saddle, Arc, Ryan’s Surprise, and VG — representing approximately 60% of current mineral resources.
Project Location, Access Infrastructure, and Mineral Resource Base
The White Gold Project is situated approximately 95 kilometres south of Dawson City, Yukon, in a jurisdiction the company characterises as mining-friendly with an established regulatory framework. Road access is planned via the proposed Northern Access Road connecting Dawson City to neighbouring properties; the release states the construction contract was awarded earlier this year and mobilisation is under way. The PEA is based on a mineral resource estimate dated 19 August 2025, totalling 1,732,300 indicated ounces at 1.53 g/t gold and 1,265,900 inferred ounces at 1.22 g/t gold. Approximately one-third of total resource ounces sit outside the current mine plan and represent potential upside.
Growth Opportunities Beyond the Current PEA Mine Plan
The company identifies several avenues that could extend mine life or improve economics in future studies, including resource conversion at existing deposits, potential underground mining at the high-grade Golden Saddle core, metallurgical optimisation for Arc and Ryan’s Surprise, and satellite feed to the processing plant. The property encompasses approximately 55,000 hectares with more than 25 exploration targets identified, the majority of which have seen limited or no drilling. Between 15,000 and 20,000 metres of drilling are planned at the project in 2026, and recent drill results are not incorporated in the current resource estimate. The immediate share price impact was not clear from available public information.