White Cliff Minerals (ASX:WCN) is likely to trade significantly higher after discovering a new copper-gold zone, named AuCu, just two kilometres from its existing copper deposit at Chanach in the Kyrgyz Republic.
Of particular interest is that the discovery would seem to lift the potential scale of the Chanach project and could also indicate that it may be to host multiple large scale copper-gold resources.
Rock chip and trench channel sampling identified three high grade copper and gold zones from 701 channel and rock chip samples collected in late 2013.
A suite of impressive trenching results included 7 metres at 3.83% copper and 30.1 grams per tonne gold, 10 metres at 1.73% copper with 1 metre at 106.3 grams per tonne gold, and 9 metres at 6.03 grams per tonne gold.
Rock chip samples adjacent to the channel samples identified grades of 15.1% copper with 5.15 grams per tonne gold, and 9.79% copper
White Cliff controls 57% of the project, with joint venture partner T2Gold holding 33% and the Kyrgyz management team 10%.
The mineralisation is hosted in highly altered limestone and felsic porphyry units and consists of quartz veining and associated alteration, heavily impregnated with sulphides including pyrite and chalcopyrite.
Adding to the prospectivity, the results are associated with trending faults along the contacts between limestone units modified by mineralised fluids related to underlying copper-gold porphyry intrusions.
The initial geological interpretation indicates that the new results are part of a much larger mineralised system over 1 kilometre in diameter.
Separate rock samples contained visible gold occurring within quartz veining and copper-iron sulphide within weathered limestone and felsic porphyry units.
The new copper-gold discovery continues to expand the scale of the Chanach project and demonstrates potential to host multiple large scale copper-gold resources.
White Cliff also owns nickel sulphide assets in Western Australia, and is capitalised at around $1.5 million.
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