New Substantial Gold Anomalies Identified at Comet Well
- Substantial gold anomalies identified in soil samples
o Peak anomaly 169 ppb gold (0.16 g/t gold) at surface
o Anomalous zone 2.3 kilometres long
The anomalies contain a maximum gold value of 169 ppb but are more commonly 20-50 ppb gold with several samples greater than 100ppb. The anomalies extend along approximately 2.3 kilometres of strike and are up to 150-350 metres wide. There also appears to be a SE mineralised zone approximately 1.1 kilometres long joining the Ironstone gold zone to the Central gold zone. Infill sampling will be carried out in the next three months.
Managing Director Todd Hibberd noted that "This is the fourth significant gold anomaly we have identified at the Merolia gold project. The gold grades are highly anomalous and the strike extents are very encouraging. Infill soil sampling will be conducted in conjunction with drilling at the Comet Well prospect".
Comet Well Prospect Background
The Company reported the discovery of gold nuggets within the regional Ironstone Gold prospect in February 2016. Detailed metal detecting identified a significant number of gold nuggets at surface over a 3 kilometre long trend (the Comet Well gold trend) that coincides with a major regional fault structure.
The nuggets were located by prospectors operating under a formal tribute agreement with the Company. Recent prospecting by the tribute group has identified visible gold from a 2 metre deep pit occurring adjacent to a quartz vein where 4 ounces of gold has been recovered (see Figure 2 in the link below). Along the 3 kilometre trend a total 40 ounces of gold has been recovered with the largest nugget weighing 20 grams.
Evaluation of the regional magnetic data over the Ironstone gold project has identified several NW-SE trending shear systems that have the potential to host substantial gold mineralisation (see Figure 3 in the link below). The Comet Well gold trend and associated regional structures extend at least 30 kilometres north to the A1 Minerals Bright Star deposit and only limited historical exploration has been undertaken over these structures.
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About White Cliff Minerals Ltd
White Cliff Minerals Ltd is a Gold, Copper, Cobalt, Nickel resources and mining company listed in Australia (ASX:WCN). The Company is focused on developing low cost high value mineral deposits that have near term cash flow potential.
Major projects include the Aucu gold deposit that contains 484,000 ounces of gold (3mt at 5.1 g/t) starting at surface and Chanach copper deposit that contains 64,000 tonnes of copper (17.2Mt at 0.37% copper). Both projects have substantial blue sky potential with drilling covering only 5% of the known structures. In Australia the company is developing the Coronation Dam cobalt–nickel deposit where a maiden resource will be announced in the late 2018.
White Cliff Minerals Ltd