White Cliff Minerals Ltd (ASX:WCN) has reported that prospectors have found gold nuggets at surface at the Ironstone Gold prospect within the Merolia Nickel and Gold project in Western Australia.
These were found using a metal detector over a 3 kilometre long trend that coincides with a major regional fault structure.
The largest nugget found weighed 20 grams.
The nuggets were located by prospectors operating under a formal tribute agreement with the company.
Recent prospecting by the tribute group has identified visible gold from a 2 metre deep pit occurring adjacent to a quartz vein where 4 ounces of gold has been recovered.
Along the 3 kilometre trend, a total 40 ounces of gold has been recovered with the largest nugget weighing 20 grams.
Todd Hibberd, managing director, said today the discovery of so many nuggets concentrated along an identifiable regional fault is very exciting and highlights the exceptional potential of the Comet Well trend and the Ironstone Gold prospect in general."
Work by White Cliff
Evaluation of the regional magnetic data by White Cliff over Ironstone gold project has identified several NW-SE trending shear systems that have the potential to host substantial gold mineralisation.
The Comet Well trend and associated regional structures extend at least 30 kilometres north to A1 Minerals Bright Star deposit.
There has only been limited historical exploration at the prospect.
With the discovery of significant numbers of gold nuggets along this trend, the company planning an exhaustive close spaced soil program to identify areas that may host significant gold mineralisation.
The soil sampling program will be carried out in conjunction with the soils program planned for the Ironstone Gold prospect and will commence in early April.
Analysis
Merolia is not the flagship for WCN; the Aucu Gold Deposit Project in the Kyrgyz Republic has that mantle.
However, the nuggets discovered by prospectors at Ironstone - point to the prospectivity of Merolia in Western Australia.
It ups the ante in terms of value added for WCN and the value of its gold assets in the portfolio.
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