White Cliff Minerals Ltd (ASX:WCN) ("the Company") is pleased to provide the Company's Half Yearly Report for the period ended 31 December 2016.
White Cliff Minerals Ltd (ASX:WCN) Half Yearly Report for the Period Ended 31 December 2016
The Company controls extensive tenement packages in Western Australia's Yilgarn Craton and the Pilbara region as well as a major gold-copper project in Central Asia.
Aucu Gold Project
- Aucu Gold deposit drilling campaign in the second half of 2016 identified exception gold intersections
- Key results on the high grade eastern section of the Upper Gold Zone include:
o 12 metres at 15.6 g/t gold including 2 metres at 79.2 g/t gold
o 11 metres at 15.2 g/t gold including 1 metre at 149 g/t gold
o 3 metres at 11.2 g/t gold
o 3 metres at 11.9 g/t gold
o 5 metres at 7.6 g/t gold,
- Two new major mineralised structures identified,
- Drilling extends mineralisation along strike from the already established Inferred gold resource of 1.15Mt at 4.2 g/t gold for 156,000 ounces of contained Gold,
- Substantial growth potential with the resource remaining open along strike and at depth for both deposits,
- A new JORC compliant resource estimation which should be available in March, followed by a preliminary mining optimisation study to establish the baseline economics of the project.
During the period the Company completed a partially underwritten share placement and a shareholder purchase plan that raised $2,549,750 to fund continued exploration both on the Aucu gold deposit in the Kyrgyz Republic and the Western Australian based gold, lithium and nickel projects.
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