News

Company and Mining

30 May 2018

  • New Inferred Gold Resource of 2.95Mt at 1 g/t gold for 484,000 ounces of gold
  • New Inferred Copper Resource of 2Mt at 0.37% copper for 64,000 tonnes of contained copper
  • Exploration recommences

Gold Resource Grows Significantly

White Cliff Minerals Limited (“White Cliff” or the “Company”) is pleased to report a new JORC code compliant inferred gold and copper mineral resource for the Aucu Project in north-west Kyrgyz Republic.

Mining industry consultant Optiro Pty Ltd (Optiro) has estimated an updated JORC code compliant inferred mineral resource reported at a lower cut-off grade of 1 g/t gold for the Aucu deposit of 2.95 million tonnes grading 5.1 g/t gold containing 484,000 ounces of gold.

The new mineral resource represents a 60% increase in ounces of contained gold over the previous gold resource of 302,000 ounces reported in April 2017.

Drilling Increases Copper Resources

Optiro has also estimated an updated JORC code compliant inferred copper mineral resource, reported at a lower cut-off grade of 0.25% copper for the Chanach Copper deposit 17.2 Mt tonnes at 0.37% copper for 64,000 tonnes of contained copper.

The new inferred copper resource represents a 46% increase in contained copper over the previous contained copper resource of 44,870 tonnes reported in April 2017.

New Mineral Resources represent less than 5% of identified mineralised faults

These new gold and copper resources start at surface, have only been drilled to 100 metres vertical depth and remain open along strike and at depth. The reported gold resources represent less than 5% of mineralised faults identified by rock-chip sampling to date. Approximately 95% of the mineralised faults identified by rock chip sampling are still to be drilled. The gold bearing mineralised structures extend beyond the current resource estimate area over a length greater than 3,000 metres and occur as multiple lodes (Figure 1). Given these factors there is significant potential for substantially more gold resources to be identified from further drilling.

Figure 1: Location map of drilling showing Inferred gold resources (red hatch) that represent ~5% of the identified mineralised faults. 95% of the mineralised faults identified by rock chip sampling are still to be drilled (dashed blue and green lines)

Exploration and Drilling Program – 2018

The Company has recommenced exploration with the establishment of the field camp and is currently conducting an extensive soil geochemical survey to refine gold, copper and lead-zinc anomalies identified last year and to test more of the prospective areas of the licence.

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

ASX Announcement