White Cliff Minerals drills out near-surface cobalt and nickel
The majority of assays remain pending from the aircore program at Coglia Well.
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 majority of assays remain pending from the aircore program at Coglia Well.
In a vote of confidence, the underwriter has elected to now take all of the shortfall stock.
Cobalt and nickel in Western Australia join Kyrgyz gold project in two-pronged focus.
Managing director and director boost holdings of cobalt-nickel and gold explorer.
Michael Langoulant has purchased 7 million shares this month and managing director Todd Hibberd has purchased almost 5 million shares.
The program is aimed at defining the grade and scale of cobalt and nickel mineralisation.
The chairman and managing director have made five separate share purchases this month.
This is the third example of a board member buying company shares in March.
The company plans a rights issue to raise up to $1.66 million.
A rights issue to raise up to $1.66 million plans to open on 7 March, 2018.
The grades are consistent with Glencore PLC’s (LON:GLEN) Irwin Hills' deposits.
The rights issue aims to raise $1.65 million and is underwritten to the amount of $1 million.
New exploration to the south of Coglia Well could identify a higher grade mineralisation.
The company is seeking approval for a drilling program.
Approval is granted for a drilling program in cobalt-rich area.
New drilling confirms the extension of the quartz zone below the previous high-grade hit.
The successful 2017 field season in the Kyrgyz Republic is now drawing to a close.
Assays show gold and copper mineralisation has been intersected at various zones.
More assays are currently pending from the Aucu gold deposit.
Aucu contains extensive porphyry related gold and copper mineralisation.