White Cliff Minerals Limited (
ASX:WCN) (“White Cliff” or the “Company”) is pleased to report the final 2016
drilling results from the Aucu gold project.
Highlights:
- Additional high grade gold assays received in final 2016 drill holes including:
- 3 metres at 11.9 g/t gold
- 3 metres at 11.2 g/t gold
- 5 metres at 7.6 g/t gold
- Aucu Gold Project activities underway this quarter
- New JORC compliant resource estimate due for completion in March
- Gold and copper metallurgical test work in progress at Bureau Veritas laboratory in Perth
- Preliminary open pit mining optimisation study to follow resource estimate
- Exploration and drill planning underway for 2017 field season
Gold mineralisation has been intersected in each of the last three holes at the Quartz Zone extending the identified mineralisation a further 50 metres along strike. In addition, 50 metres further southeast on section 2880, channel sampling identified gold mineralisation in outcrop that returned assay results of 3 metres at 3.8 g/t gold. The extent of mineralisation at the Quartz Zone remains open along strike and at depth.
Drill hole ERC16-41 intersected gold mineralisation both within the quartz reef and in the surrounding alteration halo (see Figure 1 in the link below). Assay results include 3 metre at 11.2 g/t gold. ERC16-42 intersected 3 metres at 11.9 g/t gold and ERC16-43 intersected 5 metres at 7.6 g/t gold.
Current Project Activities
Following the successful completion of the 2016 drilling campaign the Company is undertaking a new JORC compliant resource estimate to be conducted by highly regarded mining consultants CSA Global. Results are expect in March
Following the resource estimate a preliminary open pit mining optimisation study will be conducted to establish the baseline economics of the project, to form part of an application for a mining license and to assist with optimising future drill programs.
In conjunction with the resource estimate the Company is also conducting a substantial gold and copper metallurgical test work program to better outline potential processing options for the deposit.
Provided the metallurgical test work produces the high gravity gold recoveries (88.8% gravity recoverable and 99% total recoverable gold) encountered in previous studies the Company believes that a low cost simple gravity plant could allow the project to provide substantial cash flow within a short time frame.
Managing Director Todd Hibberd commented that “The final 2016 drill results continue to extend the high grade Quartz Zone with mapping and rock chip sampling indicating further strike extension for at least another 100 metres to the southeast. The zone remains open along strike and at depth and will be the focus of further drilling in 2017.
Gold Rich Quartz Zone Continues to Expand
The high grade results intersected in drill holes ERC16-41 to ERC16-43 extend the quartz zone a further 50 metres southeast along strike (see Table 1-2 in the link below). Drill defined gold mineralisation has been identified along the quartz reef over a distance of 265 metres. Mineralised outcrop containing visible gold extends along the exposed quartz reef over a distance of 350 metres (see Figure 1 in the link below).
Further Exploration
Drilling has been completed for the 2016 field season. A total of 4,045 metres were drilled consisting of 16 diamond holes and 17 RC holes as detailed in Table 2(see the link below).
The Company is currently compiling all drilling, mapping, rock chip sampling and trenching data in preparation for the calculation of a new JORC compliant resource estimate. CSA Global and Kyrgyz mining consultants Alp-project have been engaged to conduct the resource estimate. The estimate is expected to be available in March.
On completion of the resource estimate the Company will conduct a preliminary open pit mining optimisation study to establish the base line economics of the project. The optimisation work will assist with the preparation and lodgement of a formal mining license application.
The Company is also conducting further metallurgical test work to establish the most likely gold processing method. The metallurgical test work results should also be available in March.
The Company is currently planning RC and diamond drilling for the commencement of field exploration in early April 2017. Further details will be released as they become available.
Aucu Gold Deposit Summary
As previously reported (ASX releases 24 Mar 15 and 02 Apr 15), the Company announced a maiden inferred resource for the Aucu gold deposit above a cut-off grade of 1 g/t gold of 1.15 Million tonnes grading 4.2 g/t gold for 156,000 ounces of contained gold.
In 2015, drilling identified exceptional gold mineralisation2 to the east of the Upper Gold Zone (UGZ) over a strike length of at least 500 metres (ASX releases 11 Nov 15, 1 Dec 15 and 7 Dec 15). Results included:
- 8 metres at 55.2 g/t gold from 66 metres including 1 metre at 89.9 g/t gold
- 4 metres at 59.9 g/t gold from 66 metres including 1 metre at 189 g/t gold
- 2 metres at 43.5 g/t gold from 86 metres
- 1 metre at 103.4 g/t gold from 74 metres
- 3 metres at 41.4 g/t gold including 1 metre at 71 g/t gold
- 4 metres at 23.8 g/t gold from 85 metres
- 2 metres at 22 g/t gold from 102 metres
- 1 metre at 58 g/t gold
In 2016, drilling east of the Upper Gold Zone identified further substantial mineralisation over an additional 300 metres of strike length. Results included:
- 11 metres at 15.2 g/t gold from 42 metres including 1 metre at 149 g/t gold
- 12 metres at 15.6 g/t gold from 82 metres including 2 metres at 79 g/t gold
- 12 metres at 5.1 g/t gold from 34 metres including 2 metres at 26.2 g/t gold
- 5 metres at 9.9 g/t gold from 3 metres
- 9 metres at 8.3 g/t gold from 96 metres
- 4 metres at 12 g/t gold from 49 metres
- 3 metres at 11.2 g/t gold from 13 metres
- 3 metres at 11.9 g/t gold from 45 metres
- 5 metres at 7.6 g/t gold from 93 metres
- 3 metres at 9.8 g/t gold from 9 metres
Substantial copper intersections include:
- 66 metres at 0.91% copper from 33 metres including 18 metres at 1.85% copper
- 24 metre at 1.34% copper from 71 metres including 7 metres at 5.1% copper
- 19 metres at 0.74% copper from 22 metres including 2 metres at 2.4% copper
In addition:
- Mineralisation outcrops at surface over an elevation of at least 600 metres,
- Mineralisation remains open in all directions and at depth,
- Overall metallurgical recovery of all mineralised zones is 99%, and
- Gravity recoverable gold averages 88.6% (gold that reports to the gravity concentrate).
To view tables and figures, please visit:
http://abnnewswire.net/lnk/ULG6MA37
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