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White Cliff Minerals Ltd.
Summary
| Project: | Aucu | |
|---|---|---|
| Deposit: | Aucu | |
| Location: | Kyrgyz Republic | |
| Commodities: | Gold-Copper | |
| Date: | 4/21/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 21-4-2017: White Cliff Minerals Ltd. announces a Resource Estimation report for its Aucu deposit at the Aucu project. Aucu mineral resource estimate increases by 93%. White Cliff Minerals Limited (“White Cliff” or the “Company”) is pleased to report a new | |
| Resources: | (Resource, Inf.): 1.8Mt @ 5.2g/t Au for 302000oz Au contained at Aucu | |
| CP/QP: | [Resources]: Ian Glacken (Optiro Pty Ltd.) | |
| ABSTRACT: | White Cliff Minerals Limited (“White Cliff” or the “Company”) is pleased to report a new JORC compliant inferred resource for the Aucu gold deposit, using a lower cut-off grade of 1 g/t gold, of 1.8 million tonnes grading 5.2 g/t gold, for 302,000 ounces of contained gold. The new resource represents a 93% increase in contained gold ounces and a 23% increase in average grade over the previous gold resource reported in April 2015. Importantly the new resource contains a very high grade zone (Quartz Zone) of 244,000 tonnes at 9.5 g/t gold containing 75,000 ounces of gold, which starts at surface. Managing Director Todd Hibberd commented that “The Company is very pleased to announce that its inferred gold resource has almost doubled from its recent drill program which combined with a significant lift in the average grade of the defined resource is a clear indication of the enormous potential of the Aucu gold project. The quality of the current resource combined with the rock chip sampling of the extensive mineralised systems shows that the Aucu gold project has significant potential for substantially more gold resources to be identified from further drilling.” The Company is currently conducting a mining optimisation study to establish how much of the current resource could potentially be extracted via an open pit mining operation. This study will consider the relevant capital expenditure required to build an economic mining operation. The study results will be reported once complete. | |
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