Quarterly Report for the Period Ended 30 June 2018
- 2,869 metre drilling program delivers substantial mineralisation at the Coglia Well cobalt- nickel project in Western Australia
- 5,000 metre drilling program intersects wide intervals of mineralisation at the Coronation Dam cobalt-nickel project in Western Australia
- Inferred Gold Mineral Resource increases 60% to 484,000 ounces of gold (3Mt at 5.1 g/t gold) at the Aucu gold deposit in the Kyrgyz Republic
- Inferred Copper Mineral Resource increases 46% to 64,000 tonnes of contained copper at the Chanach Copper Deposit in the Kyrgyz Republic
Australian Cobalt-Nickel Projects (100% owned)
During the June quarter assay result were received from a 2,869 metre drilling program completed at the Coglia Well cobalt and nickel project in the March quarter. Drilling identified widespread cobalt and nickel mineralisation within the regolith profile above an ultramafic unit. Drilling also identified significant copper anomalism more usually associated with nickel sulphide mineralisation.
Initial drilling results were also received from a 5,000 metre program conducted at the Coronation Dam cobalt and nickel project. Initial assays received from the RC program have returned shallow and wide intervals of cobalt and nickel mineralisation, confirming the project's prospectivity and potential to host an economic resource.
Kyrgyz Republic Aucu Gold Project (90% owned)
The Company completed an updated mineral resource estimate based on drilling completed during the 2017 field season. The updated inferred gold resource using a lower cut-off grade of 1 g/t gold consists of 2.95 million tonnes grading 5.1 g/t gold containing 484,000 ounces of gold. The new resource represents a 60% increase in contained gold ounces over the previous gold resource of 302,000 ounces reported in April 2017.
This latest resource estimate also identified a new inferred copper resource, using a lower cut of grade of 0.25% copper, of 17.2 Mt tonnes at 0.37% copper, containing 64,000 tonnes of copper. The new copper resource represents a 46% increase in contained copper over the previous contained copper resource of 44,870 tonnes reported in April 2017.
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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