New Gold Zone Discovered - Aucu Gold Deposit
The new zone, which was identified in a bulldozer cut while clearing a drill pad, consists of quartz veining within a halo of strongly altered sandstone containing quartz, goethite, sericite and manganese oxides typical of the high grade mineralisation seen elsewhere within the Aucu Gold Deposit. Channel sampling of this zone has identified 3 metres (true width) at 24.8 g/t gold and 4 metres (true width) at 6.5 g/t gold on the two road cuttings. In addition a rock chip sample of the same structure taken at the top of the hill had a grade of 23 g/t gold (Figure 1 and Table 1).
The Eastern Gold Zone now consists of four sub-parallel shear zones all containing significant gold mineralisation that will be tested via drilling over a strike length of 150 metres. Once drilling has confirmed the orientation of the structures, further drilling will be conducted to convert the gold mineralisation into a JORC compliant resource.
As previously noted, the Company has mobilised a second RC rig to site. This rig is expected to commence drilling the Eastern Gold Zone shortly.
Table 1: Assay results from channel sampling
Sample ID Northing Easting Gold g/t CHD17-05a-11 696,994 4,626,168 1.87 CHD17-05b-09 696,966 4,626,135 14.16 CHD17-05b-10 696,965 4,626,135 24.98 CHD17-05b-11 696,964 4,626,134 35.19 CHD17-05?-02 697,114 4,626,379 1.97 CHD17-06-08 696,937 4,626,173 0.79 CHD17-06-21 696,925 4,626,167 3.98 CHD17-06-22 696,924 4,626,167 16.06 CHD17-06-23 696,923 4,626,166 3.88 CHD17-06-24 696,923 4,626,166 1.95 CHD17-06-27 696,920 4,626,165 1.27
Aucu Gold Deposit - Inferred Resource Summary
In April the Company reported an updated inferred resource for the Aucu gold deposit reported in accordance with the JORC Code (2012) (ASX announcement 21 April 2017). The estimate above a cut-off grade of 1 g/t gold is:
1.8 million tonnes grading 5.2 g/t gold, for 302,000 ounces of contained gold.
The new resource represents a 93% increase in contained gold ounces and a 23% increase in average grade over the previous gold resource using the same cut-off grade reported in April 2015.
Importantly the new resource contains a new very high grade zone (Quartz Zone) of 244,000 tonnes at 9.5 g/t gold containing 75,000 ounces of gold, which starts at surface. Surface extensions of the high grade Quartz Zone have been identified and will be drilled in the coming field season.
This latest resource estimate also identified a new inferred copper resource reported in accordance with the JORC Code (2012), above a cut-off grade of 0.25% copper, of 608,000 tonnes at 0.64% copper, containing 3,870 tonnes of copper.
The new gold and copper resources start at surface, have only been drilled to 100 metres vertical depth and remain open along strike and at depth.
The reported gold resource represents less than 5% of mineralised faults identified by rock chip sampling at Aucu to date. Approximately 95% of the mineralised faults identified by rock chip sampling are still to be drilled. The gold bearing mineralised structures extend beyond the current resource estimate area over a length greater than 3,000 metres and occur as multiple lodes (Figure 8 in link below).
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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