White Cliff Minerals defines large copper porphyry system
The company has completed an extensive soil geochemistry survey.
Company
ASX:WCN
White Cliff Minerals is focused on advancing a material copper project in a Tier 1 jurisdiction. Drilling at the Rae Project’s Danvers area has confirmed a district-scale copper sulphide system, with high-grade copper and silver assays and visible copper in every hole into the main structure, building on historic high-grade results.
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The company has completed an extensive soil geochemistry survey.
The company is undertaking drilling to define cobalt and nickel resources in Western Australia.
Investments and investor services
The Perth-based investor has this month acquired 10.8 million shares to take its holding to 5.16%.
Drilling continues to reveal a high-grade cobalt resource at Coronation Dam.
Investments and investor services
Funds will be allocated for work at the Aucu Gold Project and the Coronation Dam Cobalt-Nickel Project.
The company is seeking $2.3 million as it progresses its corporate strategies.
The company delivered a 60% increase in gold resource at the Aucu gold-copper project in the Kyrgyz Republic this year.
Investments and investor services
The halt will remain in place until October 16 or when an announcement is released to the market.
Investments and investor services
Ian Hobson has more than 30 years professional accounting experience with commercial roles in Australia, the UK and Canada.
Shareholders have also recently approved a 50:1 share consolidation.
White Cliff is planning to focus on its cobalt and nickel projects located south-east of Laverton.
Additional cobalt and nickel in high grades have been intersected near-surface.
Initial drilling results have returned up to 40 metres at 0.11% cobalt and 1.04% nickel from 16 metres.
S&P expects mined cobalt supply to increase at a CAGR of 12% to 2021.
Notably, highly anomalous copper assays are suggestive of sulphide mineralisation.
An expanded 5,000-metre reverse circulation program has been completed with first assays expected within two weeks.
The company's focus is on defining a maiden JORC cobalt-nickel resource.
Mineralised zone is 1,000 metres wide and 10-20 metres thick.
The project has significant potential for more gold and copper resources to be identified from further drilling.
Drilling is targeting shallow cobalt and nickel mineralisation identified by historical drilling.