White Cliff Minerals Ltd.: Half Yearly Report for the Period Ended 31 December 2016
Perth - White Cliff Minerals Ltd. (ASX:WCN) ("the Company") is pleased to provide the Company's Half Yearly Report for the period ended 31 December 2016.The Company controls extensive tenement packages in Western Australia's Yilgarn Craton and the Pilbara region as well as a major gold-copper project in Central Asia.
Highlights
Aucu Gold Project
- Aucu Gold deposit drilling campaign in the second half of 2016 identified exception gold intersections
- Key results on the high grade eastern section of the Upper Gold Zone include:
o 12 metres at 15.6 g/t gold including 2 metres at 79.2 g/t gold
o 11 metres at 15.2 g/t gold including 1 metre at 149 g/t gold
o 3 metres at 11.2 g/t gold
o 3 metres at 11.9 g/t gold
o 5 metres at 7.6 g/t gold,
- Two new major mineralised structures identified,
- Drilling extends mineralisation along strike from the already established Inferred gold resource of 1.15Mt at 4.2 g/t gold for 156,000 ounces of contained Gold,
- Substantial growth potential with the resource remaining open along strike and at depth for both deposits,
- A new JORC compliant resource estimation which should be available in March, followed by a preliminary mining optimisation study to establish the baseline economics of the project.
Corporate
During the period the Company completed a partially underwritten share placement and a shareholder purchase plan that raised $2,549,750 to fund continued exploration both on the Aucu gold deposit in the Kyrgyz Republic and the Western Australian based gold, lithium and nickel projects.
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About White Cliff Minerals Ltd:
White Cliff Minerals Ltd. (ASX:WCN) is a Western Australian based exploration company with the following main projects:
Kyrgyz Aucu Gold Project (90%): The Project contains extensive porphyry related gold and copper mineralisation starting at the surface and extending over several kilometres. Drilling during 2014 has defined a major gold discovery with an initial inferred resource of 1.15Mt at 4.2 g/t containing 156,000 ounces of gold. Additional drilling in 2015 identified extensions of known high grade gold mineralisation with intersections as high as 8 metres at 55 g/t gold. In addition drilling has also defined a significant copper deposit at surface consisting of 10Mt at 0.41% copper containing 40,000 tonnes of copper. Extensive mineralisation occurs around both deposits demonstrating significant potential to increase the existing resources.
The project is located in the Kyrgyz Republic, 350km west-southwest of the capital city of Bishkek and covers 83 square kilometres. The Chanach project is located in the western part of the Tien Shan Belt, a highly mineralised zone that extends for over 2,500 km, from western Uzbekistan, through Tajikistan, Kyrgyz Republic and southern Kazakhstan into western China.
Merolia Gold and Nickel Project (100%): The project consists of 771 square kilometres of the Merolia Greenstone belt and contains extensive ultramafic sequences including the Diorite Hill layered ultramafic complex, the Rotorua ultramafic complex, the Coglia ultramafic complex and a 51 kilometre long zone of extrusive ultramafic lava’s. The intrusive complexes are prospective for nickel-copper sulphide accumulations possibly with platinum group elements, and the extrusive ultramafic rocks are prospective for nickel sulphide and nickel-cobalt accumulations.
The project also contains extensive basalt sequences that are prospective for gold mineralisation including the Ironstone prospect where historical drilling has
Contact:
White Cliff Minerals Ltd.
Todd Hibberd Managing Director
T: +61-8-9321-2233
www.wcminerals.com.au