Cobalt-Nickel Drilling Completed at Coronation Dam
Cobalt-Nickel Drilling Completed at Coronation Dam
Perth, July 6, 2018 AEST (ABN Newswire) - White Cliff Minerals Limited (ASX:WCN) ("White Cliff" or the "Company") is pleased to report that RC drilling has been completed at its 100% owned Coronation Dam cobalt project near Kookynie in Western Australia's north-eastern goldfields.

Highlights

- Drilling completed on cobalt-nickel targets at Coronation Dam in Western Australia

o Drill program increased from 3,000 metres to 5,000 metres based on geology

- Drill program targeted cobalt mineralisation identified in historical drilling including:

o 16 metres at 0.42% cobalt and 1% nickel from 20 metres

o 24 metres at 0.23% cobalt and 0.80% nickel from 20 metres

o 28 metres at 0.13% cobalt and 0.74% nickel from 8 metres

o 32 metres at 0.12% cobalt and 0.92% nickel from 4 metres

- Initial Coronation Dam assays expected within two weeks

- Final Coglia Well assay results due next week

The initial drilling program was increased from 3,000 metres to 5,000 metres based on observed geology. Drilling intersected thick intervals of cobalt and nickel mineralisation The drilling targeted extensive shallow cobalt and nickel mineralisation identified by historical drilling (see Figure 1 in link below) previously announced to the ASX on 30 January 2018. Drill results include:

- 16 metres at 0.42% cobalt and 1% nickel from 20 metres

- 24 metres at 0.23% cobalt and 0.80% nickel from 20 metres

- 28 metres at 0.13% cobalt and 0.74% nickel from 8 metres

- 32 metres at 0.12% cobalt and 0.92% nickel from 4 metres

The expansion of the drilling program has allowed a 1,200 metre long zone to be tested rather than the originally planned 800 metre long zone. The mineralised zone extends a further 4,500 metres and remains to be tested by RC drilling. Drilling was conducted on a 100 metre by 100 metre grid with extensions on a 200 by 100 metre grid. Once all assay results have been received the Company will undertake metallurgical testing to further advance the development of this project

Cobalt mineralisation was identified on multiple drill lines, from surface and extends to a depth of up to 80 metres. The orebody dips at a shallow angle to the west. The mineralisation has developed in the regolith profile above an intensely weathered ultramafic unit which was originally a peridotite. The peridotite is approximately 1 kilometre wide and 5.7 kilometres long within the mining tenement which covers 16km2.

White Cliff Managing Director Todd Hibberd said: "We are very encouraged by the drilling completed at the Coronation Dam cobalt-nickel project. Geological logging of the drilling identified wide intervals of cobalt-nickel mineralisation that supports the historical drilling results. On receipt of the final drilling results the Company will undertake metallurgical testing to further advance the development of this project. In an environment of rising cobalt prices, limited cobalt supply capacity and rapidly growing cobalt demand, there is an opportunity to substantially increase shareholder value through the development of the project and other promising cobalt-nickel assets in our portfolio."

The Company is also waiting on further assay results from the Coglia Well Cobalt drilling program which will be announced as they are received.

The Coronation Dam Cobalt Project

The Coronation Dam Cobalt Project is located 90km south of Glencore's Murrin Murrin mining operation and 45km south of GME Resources' proposed Mt Kilkenny nickel-cobalt processing facility in WA's north-eastern goldfields (see Figure 2 in link below). The project is surrounded by world class mining infrastructure and multiple operating mines. Glencore is currently mining cobalt and nickel from the Murrin East open pit which contained an initial resource of 66 million tonnes at 1.1% nickel and 0.09% Cobalt.

The Coronation Dam project area covers 16km2 and contains an outcropping ultramafic unit that is approximately 1 kilometre wide and 5.7 kilometres long within the tenement.

Cobalt-nickel mineralisation occurs as a shallow layer of cobalt-enriched manganiferous oxides that form between the smectite clays and the overlying ferruginous clays. High grade cobalt mineralisation typically occurs between the surface and 50 metres depth and is associated with nickel mineralisation.

Existing drilling has only partly tested the mapped ultramafic unit, indicating there is potential to identify significant additional mineralisation.

The proximity of Coronation Dam to the Murrin Murrin nickel refinery is likely to have a strong, positive impact on the possibility of economic development of both the cobalt and nickel mineralisation. While the Company has not yet calculated a mineral resource, it is clear that the potential exists for the project to host one of substantial size.

To view figures, please visit:
http://abnnewswire.net/lnk/D10Z3VHJ


About White Cliff Minerals Ltd

White Cliff Minerals Ltd ASX WCNWhite 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.

    


Contact

Todd Hibberd
Managing Director
T: +61-8-9321-2233
E: info@wcminerals.com.au
W: www.wcminerals.com.au




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