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
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 2014-6 has defined a gold deposit currently containing an inferred resource of 1.8Mt at 5.2 g/t containing 302,000 ounces of gold and 608,000 tonnes at 0.64% copper containing 3870 tonnes of copper. Drilling has also defined a significant copper deposit at surface consisting of 10Mt at 0.41% copper containing 41,000 tonnes of copper.
Extensive mineralisation occurs around both deposits demonstrating significant expansion potential. The project is located in the Kyrgyz Republic, 350km west-southwest of the capital city of Bishkek and covers 57 square kilometres. The Chanach project is located in the western part of the Tien Shan Belt, a highly mineralised zone that extending for over 2500 km, from western Uzbekistan, through Tajikistan, Kyrgyz Republic and southern Kazakhstan to 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 lavas. 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 identified 24m at 8.6g/t gold. Soil sampling in 2016 has identified multiple mineralised gold trends at Burtville East, Comet Well and Ironstone which will be drilled in 2017.
Bremer Range Nickel Project (100%): The project covers over 127 square kilometres in the Lake Johnson Greenstone Belt, which contains the Emily Ann and Maggie Hayes nickel sulphide deposits. These mines have a total resource of approximately 140,000 tonnes of contained nickel. The project area has excellent prospectivity for both komatiite associated nickel-cobalt sulphides and amphibolite facies high-grade gold mineralisation.
Lake Percy Lithium Project (100%): Substantial lithium anomalism has been identified within untested outcropping pegmatites within the Lake Percy tenements.
Laverton Gold Project (100%): The project consists of 136 square kilometres of tenement applications in the Laverton Greenstone belt. The core prospects are Kelly Well and Eight Mile Well located 20km southwest of Laverton in the core of the structurally complex Laverton Tectonic zone immediately north of the Granny Smith Gold Mine (3 MOz) and 7 kilometres north of the Wallaby Gold Mine (7MOz).
White Cliff Minerals Ltd