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White Cliff Minerals Ltd

White Cliff Minerals substantial holder buys shares, brings ownership to 11.65%

The company is undertaking drilling to define cobalt and nickel resources in Western Australia.

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The Coronation Dam Cobalt Project is about 240 kilometres north of Kalgoorlie

White Cliff Minerals Ltd (ASX:WCN) substantial holder Aftron Pty Ltd has purchased 13,333,333 ordinary shares worth $200,000 in on-market trades.

The purchase brings Aftron and associates’ total holding to 26,923,066 shares, representing about 11.65% interest in White Cliff.

READ: White Cliff Minerals new assays feature 40 metres at 0.22% cobalt and 1.75% nickel

The company is defining cobalt and nickel resources at the Coronation Dam Cobalt Project in Western Australia’s Eastern Goldfields.

Coronation Dam is 90 kilometres south of Glencore’s (LON:GLEN) Murrin Murrin mining operation and 45 kilometres south of GME Resources Ltd’s (ASX:GME) proposed Mt Kilkenny nickel-cobalt processing facility.

Recent drilling results at Coronation Dam included: 40 metres at 0.22% cobalt and 1.75% nickel from 8 metres; and 36 metres at 0.10% cobalt and 0.88% nickel from surface.

Glencore is currently mining cobalt and nickel from the Murrin East open pit which contained an initial resource of 66 million tonnes at 1.1% nickel and 0.09% cobalt.

Quick facts: White Cliff Minerals Ltd

Price: $0.01

Market: ASX
Market Cap: $3.76 m
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