White Cliff Minerals Ltd Stock Market Press Releases and Company Profile
Quarterly Report for the Period Ended 30 September 2018
Quarterly Report for the Period Ended 30 September 2018

Perth, Oct 31, 2018 AEST (ABN Newswire) - White Cliff Minerals Ltd (googlechartASX:WCN) provides the Company's Quarterly report for the period ended 30 September 2018.

Highlights

- Coglia Well drilling program delivers substantial cobalt- nickel mineralisation

- Coronation Dam drilling program continues to deliver wide intervals of cobalt and nickel mineralisation

- Corporate restructure, capital consolidation and rights issue launched to raise $2.3M

Summary

Australian Cobalt-Nickel Projects (100% owned)

During the September quarter further assay results were received from a 5,000 metre program conducted at the Coronation Dam cobalt and nickel project. 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.

Final results were received from a 2,869 metre drilling program at the Coglia Well cobalt and nickel project completed 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.

Kyrgyz Republic Aucu Gold Project (90% owned)

During the quarter, the Company conducted an extensive review of all historical rock sampling results across the project to prioritise exploration targets. An extensive soil sampling program infilling the previous program where anomalous gold and copper values were identified was undertaken along with follow up rock and outcrop sampling. Results from these programs will be released in the current quarter.

The Company has also reviewed the updated resource estimate announced in the June quarter to assess what further work is required to convert it to an Indicated mineral resource. The Company is also in the process of transforming part of the license into an exploration permit. Once an exploration permit is granted the Company can formally lodge resource estimates and scoping studies with the Government and commence the process of applying for a mining permit.

Corporate

During the quarter the Company consolidated the share structure 50:1 and appointed a new Company Secretary.

Subsequent to the quarter end the Company has launched a partially underwritten 2:1 renounceable rights issue to raise $2.3 Million and appointed a new Non-executive Chairman.

To view the full report, please visit:
http://abnnewswire.net/lnk/N56PJF26

Contact

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




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