- Aucu Gold Project, Kyrgyz Republic, delivers 93% increase in Inferred gold resources to 1.8Mt at 5.2 g/t gold containing 302,000 ounces of gold
- Aucu metallurgical test work indicates +96% free milling gold
- Potentially economic concentrations of cobalt identified at Ghan Well Project, WA
- High grade gold results at East Burtville project, WA
Kyrgyz Republic Exploration - Aucu Gold Project (90% owned)
During the June quarter White Cliff Minerals (
The updated inferred resource for the Aucu gold deposit reported in accordance with the JORC Code (2012) 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.
Importantly the new resource contains a very high grade zone (Quartz Zone) of 244,000 tonnes at 9.5 g/t gold containing 75,000 ounces of gold.
Metallurgical test work conducted on mineralised intervals from 2016 drilling indicated greater than 96% free milling gold for most samples, confirming previous test work on the rest of the deposit in which gold recoveries averaged 99% and gravity recoverable gold averaged 88%.
Western Australian Exploration - Projects (100% owned)
Re-evaluation of the Ghan Well nickel and cobalt project identified potential for economic cobalt mineralisation with multiple drill-hole intervals containing greater than 1500 ppm cobalt.
Air-core drilling at the East Burtville prospect, part of the Merolia Gold Project near Laverton, confirmed significant gold mineralisation and highlighted the prospect's potential to host a high-grade gold deposit amenable to open pit mining.
During the quarter, the Company entered into two 12-month loan facilities totalling $500,000. Subject to final documentation being completed, the total available facility will increase to $600,000.
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About White Cliff Minerals Ltd
White Cliff Minerals Ltd (ASX:WCN) is a Western Australian based exploration company with the following main projects:
Kyrgyz Aucu Gold Project (90%): The Project contains extensive porphyry related gold and copper mineralisation starting at the surface and extending over several kilometres. Drilling during 2014 has defined a major gold discovery with an initial inferred resource of 1.15Mt at 4.2 g/t containing 156,000 ounces of gold. Additional drilling in 2015 identified extensions of known high grade gold mineralisation with intersections as high as 8 metres at 55 g/t gold. In addition drilling has also defined a significant copper deposit at surface consisting of 10Mt at 0.41% copper containing 40,000 tonnes of copper. Extensive mineralisation occurs around both deposits demonstrating significant potential to increase the existing resources.
The project is located in the Kyrgyz Republic, 350km west-southwest of the capital city of Bishkek and covers 83 square kilometres. The Chanach project is located in the western part of the Tien Shan Belt, a highly mineralised zone that extends for over 2,500 km, from western Uzbekistan, through Tajikistan, Kyrgyz Republic and southern Kazakhstan into western China.
Merolia Gold and Nickel Project (100%): The project consists of 771 square kilometres of the Merolia Greenstone belt and contains extensive ultramafic sequences including the Diorite Hill layered ultramafic complex, the Rotorua ultramafic complex, the Coglia ultramafic complex and a 51 kilometre long zone of extrusive ultramafic lava’s. The intrusive complexes are prospective for nickel-copper sulphide accumulations possibly with platinum group elements, and the extrusive ultramafic rocks are prospective for nickel sulphide and nickel-cobalt accumulations.
The project also contains extensive basalt sequences that are prospective for gold mineralisation including the Ironstone prospect where historical drilling has
White Cliff Minerals Ltd (ASX:WCN) Partially Underwritten Rights Offer and Placement Mandate to Raise up to $2.9 Million