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White Cliff Minerals Ltd.
Summary
| Project: | Aucu | |
|---|---|---|
| Deposit: | Quartz zone | |
| Location: | Kyrgyz Republic | |
| Commodities: | Gold-Copper | |
| Date: | 1/16/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-1-2017: White Cliff Minerals Ltd. announces an Exploration/Drilling Update report for its Quartz zone deposit at the Aucu project. Drilling results incl. 5m @ 7.6 g/tAu from 93m. White Cliff Minerals Limited (“White Cliff” or the “Company”) is pleased | |
| Resources: | (Resource, Inf.): 1.15Mt @ 4.2g/t Au for 156000oz Au contained at Aucu | |
| CP/QP: | [Overall Report]: Todd Hibberd (Internal) | |
| ABSTRACT: | White Cliff Minerals Limited (“White Cliff” or the “Company”) is pleased to report the final 2016 drilling results from the Aucu gold project. Gold mineralisation has been intersected in each of the last three holes at the Quartz Zone extending the identified mineralisation a further 50 metres along strike. In addition, 50 metres further southeast on section 2880, channel sampling identified gold mineralisation in outcrop that returned assay results of 3 metres at 3.8 g/t gold. The extent of mineralisation at the Quartz Zone remains open along strike and at depth. Drill hole ERC16-41 intersected gold mineralisation both within the quartz reef and in the surrounding alteration halo (Figure 1). Assay results include 3 metre at 11.2 g/t gold. ERC16-42 intersected 3 metres at 11.9 g/t gold and ERC16-43 intersected 5 metres at 7.6 g/t gold. Following the successful completion of the 2016 drilling campaign the Company is undertaking a new JORC compliant resource estimate to be conducted by highly regarded mining consultants CSA Global. Results are expect in March Following the resource estimate a preliminary open pit mining optimisation study will be conducted to establish the baseline economics of the project, to form part of an application for a mining license and to assist with optimising future drill programs. In conjunction with the resource estimate the Company is also conducting a substantial gold and copper metallurgical test work program to better outline potential processing options for the deposit. Provided the metallurgical test work produces the high gravity gold recoveries (88.8% gravity recoverable and 99% total recoverable gold) encountered in previous studies the Company believes that a low cost simple gravity plant could allow the project to provide substantial cash flow within a short time frame. | |
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