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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Todd Hibberd, managing director, commented: "The quality of the company’s high grade gold project in Central Asia and Western Australian gold projects has generated significant interest."
White Cliff is advancing its 89% owned Aucu gold deposit located in the Kyrgyz Republic and its 100% owned Merolia gold project located near Laverton, Western Australia.
White Cliff has identified visible gold at both its projects.
The halt will remain in place until the opening of trade on Friday 28th October 2016.
The pending drill program will assist White Cliff in understanding the extent of any potential gold mineralisation in that sampled area.
White Cliff has expanded the bullseye gold in-soil anomaly near Laverton.
The Quartz Zone is proving prospective for White Cliff as quartz outcrops containing native gold occur in every road cutting completed to date.
The Merolia gold project in Western Australia continues to emerge as a prospective project for White Cliff alongside its more advanced flagship Aucu gold deposit.
Assays of the intersections have revealed grades of up to 41.6 g/t gold. White Cliff is expected to complete 1,500-2,000 metres of drilling during the remainder of 2016.
White Cliff has identified substantial gold in soil anomalies along the Comet Well gold trend located within the Merolia gold project near Laverton in Western Australia.
Identification of outcropping quartz containing visible gold is another indicator of the potential Aucu has to be a multi-million ounce gold deposit.
The first six holes of the 2016 diamond program have assisted White Cliff in defining the sources of gold mineralisation as it looks to evolve Aucu into a multi-million ounce deposit.
Perth broker Hartleys noted: "White Cliff is leveraged to exploration success, with strong share price appreciation correlating well to positive drill results, which are anticipated."
A second drill rig has arrived at the Aucu project site and commenced drilling. It is targeting mineralisation immediately below that encountered in 2015 in drill hole UGZ15-035 of 8 metres at 55 g/t gold.
While the focus at Aucu is the drill program currently in progress, the discovery of new gold and copper zones by sampling bulldozer road cuttings is an added exploration bonus.
The 150 metre deep hole encountered the zones at depths consistent with high grade gold zones. Assays from this first hole are expected in circa four weeks.
The farm-out to Liontown enables White Cliff to retain a free carried interest in any upside from lithium exploration success while it embarks on a major diamond drilling campaign at the Aucu Gold project, that aims to define a substantial
The commencement of drilling marks the start of a fascinating program with an objective to scale the resource size of the Aucu gold deposit. With the exploration program formally approved and drilling expected throughout the year, constant
