Mining, Metals and Money

In-depth mining, gold, nickel and market insights

05 February 2018

WCN_cobalt

Highlights

  • Portfolio review identifies substantial cobalt and nickel mineralisation in existing drilling:
    • 28 metres at 0.12% cobalt and 0.55% nickel from 60 metres including;
      • 16 metres at 0.16% cobalt and 0.65% nickel
    • 12 metres at 2.2% nickel and 0.06% cobalt from 80 metres including;
      • 4 metres at 3% nickel and 0.06% cobalt
  • Located in a region of extensive mining infrastructure and nickel-cobalt processing facilities
  • Adds to the Coronation Dam and Ghan Well cobalt-nickel projects in the White Cliff portfolio
  • Statutory approvals for drilling lodged with the WA Government

White Cliff Minerals Limited (“White Cliff” or the “Company”) is pleased to report that a review of the existing exploration data from its 100%-owned Coglia Well project 70km southeast of Laverton in Western Australia’s north-eastern goldfields (Figure 1) has identified substantial cobalt and nickel mineralisation that will be the subject of further assessment.

White Cliff acquired the Coglia Well project (Figure 2) via exploration license applications in 2009 and 2012, having been initially attracted to its nickel sulphide exploration potential. Following the substantial increase in the cobalt price in 2017 and a recovering nickel price, the Company conducted a review of the existing drilling and sampling resulting in the identification of substantial cobalt and nickel mineralisation over a large area. Drilling results include:

  • 28 metres at 0.12% cobalt and 0.55% nickel from 60 metres including;
    • 16 metres at 0.16% cobalt and 0.65% nickel
  • 12 metres at 2.18% nickel and 0.06% cobalt including
    • 4 metres at 2.95% nickel, 0.06% cobalt

Drilling has occurred on wide spaced lines generally 650 metres apart with holes spaced at 320 metre intervals. Cobalt and nickel mineralisation occurs on all lines and occurs between 40 and 80 metres depth. Mineralisation has developed in the regolith profile above a weathered ultramafic unit which was originally a dunite (an olivine rich ultramafic rock). A series of existing drill programs (2001-2003) outlined cobalt and nickel mineralisation over a zone approximately 2.5km long by 500 metres wide and 10-15 metres thick (see table 1 for drilling results). Mineralisation is open along strike in both directions. A total of 22 holes have been drilled for 2062 metres but holes drilled in 2001 (MPRC001-008) were not assayed for cobalt.

White Cliff Managing Director Todd Hibberd said: “The Coglia project was initially acquired for its nickel sulphide potential but the higher cobalt and nickel grades encountered in the 2016 drilling suggest that there is substantial shallow oxide mineralisation that may be economic. The Company has lodged a drilling program with the WA government and is conducting 3D modelling of the mineralisation in preparation for drilling.

“White Cliff now has three shallow cobalt nickel deposits – Coglia Well, Coronation Dam and Ghan Well – in a region with extensive mining and processing infrastructure and within trucking distance to Glencore’s Murrin-Murrin nickel-cobalt processing facilities.”

Further updates will be provided as this process continues.

For further information, please see the link below to today’s ASX announcement.

ASX Announcement