Exploration Update - Aucu Gold Deposit
To date, White Cliff has completed 12 reverse circulation holes for 1400 metres, with five holes drilled at the Quartz Zone, five holes drilled at the Eastern Gold Zone and two holes drilled at the Lower Gold Zone.
The Company has submitted 258 four-metre composite samples to the laboratory near Bishkek, with the remainder in transit from the project site.
Drilling is continuing at the Lower Gold Zone while the Company awaits assay results for the holes drilled at the Quartz Zone and the Eastern Gold Zone. Once results have been received, the Company will plan further drilling at these zones.
As previously advised the Company mobilised a second drill rig to the site in mid-August. Rig two is currently drilling ERC17-006 at the Quartz Zone (27 metres) and rig one is drilling LGZ17-004 (67 metres) at the Lower Gold Zone.
Drilling results will be reported as they become available.
Aucu Gold Deposit - Inferred Resource Summary
In April 2017, the Company reported an updated inferred resource for the Aucu gold deposit 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 (see Figure 8 in the 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