White Cliff Minerals Ltd: Half Year Report
Perth, Australia - White Cliff Minerals Ltd. (ASX:WCN) present their report for the half-year ended 31 December 2018.Summary
Kyrgyz Republic Aucu Gold Project (90% owned)
During the half year, an extensive geochemical survey identified that the core and alteration halo of the Chanach copper porphyry system extended over an 8 kilometre long zone. The survey also identified anomalous gold, copper, arsenic and base metal results to the north and east of the Aucu gold deposit. Follow up mapping and sampling identified new gold and copper zones 2-4 kilometres east of the Aucu gold deposit.
The Company undertook a bulk sampling program along a 450 metre section of the Chanach river alluvial terraces 1 kilometre downstream from the Aucu Gold deposit to assess the placer gold potential of the 16km long river system. Visible gold was detected in 62 samples out of the 65 samples collected. The samples have been submitted to the laboratory for analysis with results expected in mid-March.
In January 2019, the Company engaged a global corporate advisory firm to undertake a review of the options for advancing the project, either through joint-ventures or divestment. While this process is underway the Company continues to advance the project.
Australian Cobalt-Nickel Projects (100% owned)
During the half year the Company completed a 5,000 metre drilling program at the Coronation Dam cobalt and nickel project. The drilling highlighted shallow and wide intervals of cobalt and nickel mineralisation confirming the project's prospectivity and potential to host an economic resource. Results were announced during the reporting period and the Company is currently completing initial resource estimations at Coronation Dam and the Ghan Well nickel-cobalt projects.
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http://abnnewswire.net/lnk/64BO4WX1
About White Cliff Minerals Ltd:
White Cliff Minerals is a Gold, Copper, Cobalt, Nickel resources and mining company listed in Australia (ASX:WCN). The Company is focused on developing low cost high value mineral deposits that have near term cash flow potential.
Major projects include the Aucu gold deposit that contains 484,000 ounces of gold (3mt at 5.1 g/t) starting at surface and Chanach copper deposit that contains 64,000 tonnes of copper (17.2Mt at 0.37% copper). Both projects have substantial blue sky potential with drilling covering only 5% of the known structures. In Australia the company is developing the Coronation Dam cobalt–nickel deposit where a maiden resource will be announced in the late 2018.
Source:
White Cliff Minerals Ltd.
Contact:
Todd Hibberd Technical Director T: +61-8-9321-2233 E: info@wcminerals.com.au W: www.wcminerals.com.au