News

Company and Mining

6 July 2018

 

Highlights

  • Drilling completed on cobalt-nickel targets at Coronation Dam in Western Australia
    • Drill program increased from 3,000 metres to 5,000 metres based on geology
  • Drill program targeted cobalt mineralisation identified in historical drilling including:
    • 16 metres at 0.42% cobalt and 1% nickel from 20 metres
    • 24 metres at 0.23% cobalt and 0.80% nickel from 20 metres
    • 28 metres at 0.13% cobalt and 0.74% nickel from 8 metres
    • 32 metres at 0.12% cobalt and 0.92% nickel from 4 metres
  • Initial Coronation Dam assays expected within two weeks
  • Final Coglia Well assay results due next week

White Cliff Minerals Limited (“White Cliff” or the “Company”) is pleased to report that RC drilling has been completed at its 100% owned Coronation Dam cobalt project near Kookynie in Western Australia’s north-eastern goldfields.

The initial drilling program was increased from 3,000 metres to 5,000 metres based on observed geology. Drilling intersected thick intervals of cobalt and nickel mineralisation. The drilling targeted extensive shallow cobalt and nickel mineralisation identified by historical drilling (Figure 1) previously announced to the ASX on 30 January 2018. Drill results include:

  • 16 metres at 0.42% cobalt and 1% nickel from 20 metres including;
  • 24 metres at 0.23% cobalt and 0.80% nickel from 20 metres
  • 28 metres at 0.13% cobalt and 0.74% nickel from 8 metres
  • 32 metres at 0.12% cobalt and 0.92% nickel from 4 metres

The expansion of the drilling program has allowed a 1,200 metre long zone to be tested rather than the originally planned 800 metre long zone. The mineralised zone extends a further 4,500 metres and remains to be tested by RC drilling. Drilling was conducted on a 100 metre by 100 metre grid with extensions on a 200 by 100 metre grid. Once all assay results have been received the Company will undertake metallurgical testing to further advance the development of this project

Cobalt mineralisation was identified on multiple drill lines, from surface and extends to a depth of up to 80 metres. The orebody dips at a shallow angle to the west. The mineralisation has developed in the regolith profile above an intensely weathered ultramafic unit which was originally a peridotite. The peridotite is approximately 1 kilometre wide and 5.7 kilometres long within the mining tenement which covers 16km2.

White Cliff Managing Director Todd Hibberd said: “We are very encouraged by the drilling completed at the Coronation Dam cobalt-nickel project. Geological logging of the drilling identified wide intervals of cobalt-nickel mineralisation that supports the historical drilling results. On receipt of the final drilling results the Company will undertake metallurgical testing to further advance the development of this project. In an environment of rising cobalt prices, limited cobalt supply capacity and rapidly growing cobalt demand, there is an opportunity to substantially increase shareholder value through the development of the project and other promising cobalt-nickel assets in our portfolio.”

Further updates will be provided as this process continues.

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

ASX Announcement