7 March 2017
Duplicate Assays Demonstrate Quality and Grade of Aucu Gold Deposit
White Cliff Minerals Limited (“White Cliff” or the “Company”) is pleased to report that all mineralised intervals reported from the high grade Aucu gold deposit in 2016 have been confirmed by duplicate analysis at the Bureau Veritas laboratory in Perth.
The average grade of the 166 duplicate gold assays is 6.95 g/t gold reported above a cut-off grade of 0.7 g/t gold. The average copper grade of 244 duplicate copper assays is 0.83% copper reported above a cut-off grade of 0.2% copper. The copper and gold mineralisation overlap and occur in adjacent structures at the Quartz Zone allowing mining of both metals from the same open pit potentially improving mining economics substantially.
The duplicate analyses were undertaking as part of the quality assurance requirements for the current resource estimation study.
2017 JORC Compliant Resource Estimate Update
The Company has recently engaged highly regarded mining consultants Optiro to complete a new JORC compliant resource estimate for the Aucu Gold Deposit. The Company expects the new estimate will add to the existing JORC compliant resource of 1.2Mt at 4.2 g/t containing 156,000 ounces of gold.
The existing resource starts at surface and has superb metallurgical characteristics (88.6% of the gold reports to the gravity concentrate and total recoverable gold is 99% via cyanide extraction). The current resource is also amenable to open pit mining.
The new resource estimate will incorporate the high grade gold mineralisation identified at the Quartz Zone in 2016. Mineralisation starts at surface, extends over 300 metres long and down to 120 metres depth. The Quartz Zone contains substantial visible gold, both in outcrop at surface and in drill holes at depth. Gold Mineralisation is still open in both directions and at depth. The Quartz Zone also contains substantial copper mineralisation adjacent to the gold mineralisation and in the alteration halo surrounding the quartz zone. The Company expects further drilling in 2017 to substantially expand the mineralisation at the Quartz Zone.
The Company has commissioned Optiro to compile a three dimensional model of the mineralised zones. Following a QAQC review of the duplicate assay data reported above Optiro will conduct the resource estimate which is expected to be completed and announced in March 2017.
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