White Cliff Minerals Ltd (ASX:WCN) has completed Tranche 2 of its $2,640,000 placement made to professional and sophisticated investors at $0.006 per share.
This week White Cliff commenced a diamond drilling program at the Aucu gold project in the Kyrgyz Republic, targeting a 45 g/t gold average grade area.
The company is targeting the eastern upper gold zone (UGZE), which has an exploration target of 1-2 million tonnes at 15-30g/t gold for 500,000 to 1.2 million ounces of gold.
The target is based on the average grade of previous drill intersections completed in the UGZE in 2015.
These previous holes covered 500 metres of strike and were drilled to a maximum depth of 150 metres, with the true widths of each mineralised lode between 1 and 4 metres.
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