Quarterly Report for the Period Ended 30 June 2017
Perth, July 31, 2017 AEST (ABN Newswire) - White Cliff Minerals Ltd (
ASX:WCN) provides the Company's Quarterly Report for the period ended 30 June 2017.
Highlights
- Aucu Gold Project, Kyrgyz Republic, delivers 93% increase in Inferred gold resources to 1.8Mt at 5.2 g/t gold containing 302,000 ounces of gold
- Aucu metallurgical test work indicates +96% free milling gold
- Potentially economic concentrations of cobalt identified at Ghan Well Project, WA
- High grade gold results at East Burtville project, WA
Summary
Kyrgyz Republic Exploration - Aucu Gold Project (90% owned)
During the June quarter White Cliff Minerals (ASX:WCN) ("White Cliff", "the Company") completed a new JORC gold resource estimate in conjunction with detailed metallurgical testing.
The updated inferred resource for the Aucu gold deposit reported in accordance with the JORC Code (2012) above a cut-off grade of 1 g/t gold is 1.8 million tonnes grading 5.2 g/t gold for 302,000 ounces of contained gold.
Importantly the new resource contains a very high grade zone (Quartz Zone) of 244,000 tonnes at 9.5 g/t gold containing 75,000 ounces of gold.
Metallurgical test work conducted on mineralised intervals from 2016 drilling indicated greater than 96% free milling gold for most samples, confirming previous test work on the rest of the deposit in which gold recoveries averaged 99% and gravity recoverable gold averaged 88%.
Western Australian Exploration - Projects (100% owned)
Re-evaluation of the Ghan Well nickel and cobalt project identified potential for economic cobalt mineralisation with multiple drill-hole intervals containing greater than 1500 ppm cobalt.
Air-core drilling at the East Burtville prospect, part of the Merolia Gold Project near Laverton, confirmed significant gold mineralisation and highlighted the prospect's potential to host a high-grade gold deposit amenable to open pit mining.
Corporate
During the quarter, the Company entered into two 12-month loan facilities totalling $500,000. Subject to final documentation being completed, the total available facility will increase to $600,000.
To view the full report, please visit:
http://abnnewswire.net/lnk/33AY944K
Contact
Todd Hibberd
Managing Director
T: +61-8-9321-2233
W: www.wcminerals.com.au
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