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White Cliff Minerals Ltd pans visible gold from outcropping veins

Identification of outcropping quartz containing visible gold is another indicator of the potential Aucu has to be a multi-million ounce gold deposit.

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White Cliff Minerals Ltd (ASX:WCN) has exposed an extensive zone of mineralisation in its latest drill track cutting at the 89% owned Aucu gold deposit in Kyrgyz Republic, central Asia.

Visible gold was identified in outcropping quartz veins located 127 metres along strike from Aucu’s high grade zone of 8 metres at 55 g/t gold.

Based on the identification of visible gold at surface over a 45 metre strike zone, the company has planned an additional 900 metres of reverse circulation drilling.

This drilling is separate to the ongoing diamond program, which has now completed 11 holes.

The company is awaiting assay results for five of the completed diamond holes, which were targeting the high grade Eastern Gold Zone (EGZ) within Aucu.

Diamond drilling continues

To date, a total of 1,624 metres has been completed consisting of 11 diamond holes.

Both diamond drill rigs have commenced drilling new holes targeting mineralisation along strike from the mineralisation encountered in 2015 in a drill hole which intersected 8 metres at 55 g/t gold.

A third reverse circulation drill rig will commence drilling targeting the outcropping quartz vein containing visible gold.

Aucu gold deposit

The 89% owned Aucu gold deposit is located in the Kyrgyz Republic, which is a democratic republic bordering Kazakhstan and western China.

The company announced a maiden inferred resource for the Aucu gold deposit above a cut-off grade of 1 g/t gold of 1.15 million tonnes grading 4.2 g/t gold for 156,000 ounces of contained gold.

In 2015, drilling identified exceptional gold mineralisation east of this resource at the EGZ over a strike length of at least 500 metres.

Results included 8 metres at 55.2 g/t gold and 4 metres at 59.9 g/t gold.

Overall metallurgical recovery of all mineralised zones discovered at Aucu is 99% with gravity recoverable gold averages of 88.6%.

Analysis

Identification of outcropping quartz containing visible gold is another indicator of the potential Aucu has to be a multi-million ounce gold deposit.

Aucu consists of four mineralised systems over a 3 kilometre strike length.

The epithermal gold system is exposed at surface and remains open along strike and at depth.

White Cliff remains highly leveraged to exploration upside with two drill rigs now drilling holes located near to the 2015 drill hole that intersected 8 metres at 55 g/t gold.

The Aucu gold project has the opportunity to provide White Cliff with a quick pathway to early production.

As Aucu is largely a sedimentary hosted gold deposit with favourable metallurgical properties, this indicates low mining and processing costs.

With high grade gold mineralisation at surface, this also provides the opportunity for a low capital cost, small scale operation providing significant production ounces.

The company ended the June quarter with $1.8 million in cash.

White Cliff recently received an updated broker research report valuing the stock at $0.04 with a recommendation of Speculative Buy. 

 

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Quick facts: White Cliff Minerals Ltd

Price: 0.006 AUD

ASX:WCN
Market: ASX
Market Cap: $2.82 m
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