Annual Report for the Period Ended 30 June 2017
Perth, Sep 12, 2017 AEST (ABN Newswire) - White Cliff Minerals Ltd (
ASX:WCN) provides the Company's Annual Report for the period ended 30 June 2017.
Review of Operations
Highlights
Exploration was successfully advanced on several projects during the reporting period. Most notably the Company increased the high grade JORC 2012 compliant gold resource at the Aucu Gold project in the Kyrgyz Republic to 1.8 Mt at 5.2 g/t gold for 302,000 ounces of contained gold and identified a JORC 2012 compliant copper resource at Aucu of 608,000 tonnes at 0.64% copper for 3,780 tonnes of contained copper. These deposits are open along strike and at depth. Metallurgical test work indicated high gold recoveries averaging 98% overall.
The Company also identified potentially economic gold mineralisation at the Ironstone and East Burtville Gold prospects near Laverton in Western Australia.
A review of the Company's existing nickel-cobalt projects revealed that Ghan Well contained potentially economic cobalt mineralisation which is open laterally and along strike.
Corporate
During the reporting period the Company completed a placement and a share purchase plan that raised $2,549,750 (before issue costs) to continue its exploration programs and for working capital. Subsequent to year end the Company announced a rights issue and placement to raise a maximum of $2,890,000.
To view the full report, please visit:
http://abnnewswire.net/lnk/018IMW46
Contact
Todd Hibberd
Managing Director
T: +61-8-9321-2233
E: info@wcminerals.com.au
W: www.wcminerals.com.au
Luke Forrestal
Media + Capital Partners
M: +61-411-479-144
E: luke.forrestal@mcpartners.com.au
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