Perth, Australia - White Cliff Minerals Ltd.
(ASX:WCN) ("White Cliff" or the "Company") is pleased to report a maiden Inferred Mineral Resource reported in accordance with the guidelines of the JORC Code, for the Coronation Dam nickel-cobalt deposit.
- Maiden nickel and cobalt Inferred Mineral Resource of:
o 5.7 million tonnes at 1.0% nickel and 0.08% cobalt above a cut-off grade of 0.8% nickel, containing 56,700 tonnes of nickel and 4,300 tonnes of cobalt.
- Mineralisation is open along strike and at depth.
The nickel and cobalt Inferred Mineral Resource, reported above a cut-off grade of 0.8% nickel, consists of 5.7 million tonnes grading 1.0% nickel and 0.08% cobalt, containing 56,700 tonnes of nickel and 4,300 tonnes of cobalt.
The main zone of mineralisation extends over 1.4 km north-south and 750 metres east-west. The vertical thickness of mineralisation ranges from several metres to a maximum of 70 metres. Mineralisation starts at surface and dips shallowly to the west. The bulk of the higher-grade mineralisation is concentrated within the centre of the deposit (see figures 2 to 6 in link below showing depth slices of the nickel mineralisation). The deposit has only been shallowly drilled in most areas and remains open along strike and at depth.
The Company will conduct preliminary metallurgical test work on the existing drill samples including beneficiation and leaching prior to considering additional drilling. Provided the test work is positive the Company will consider a small drilling programme aimed at converting the Inferred Mineral Resources to Indicated Mineral Resources. This drilling would target the shallow, higher-grade central area of the deposit and investigate the potential for open pit mining.
Further Exploration Potential
The drilling and subsequent resource modelling has identified a substantial Inferred Mineral Resource of both nickel and cobalt. The drilling and resource modelling have covered a 1.4 kilometre long section of the prospective ultramafic sequence which extends for 5.6 kilometres within the tenement. Immediately north of the Inferred Mineral Resource there are several historical drill holes with nickel and cobalt mineralisation greater than 0.8% nickel or 0.05% cobalt (see figure 10 in link below). This area covers a 1.7 kilometre long section of the prospective sequence and is a priority exploration target.
Similarly, immediately south of the Inferred Mineral Resource, the prospective ultramafic unit extends for a kilometre with some historical drillholes containing some anomalous nickel and cobalt mineralisation greater than 1% nickel and 0.08% cobalt.
There is also potential for additional mineralisation to the west of the existing Inferred Mineral Resource, particularly down-dip, along section from the existing intersections.
Interestingly, a small portion of the Mineral Resource occurs in fresh rock and consists of 200,000 tonnes at 1.0% nickel and 0.02% cobalt. The implication is that this mineralisation may consist of either nickel sulphide mineralisation or garnierite veining and the Company is investigating the potential for the tenement to host nickel sulphide mineralisation.
Maiden Resource Estimate: Coronation Dam Nickel-Cobalt Deposit
The nickel and cobalt Inferred Mineral Resource, above a cut-off grade of 0.8% nickel, consists of 5.7 million tonnes with an average grade of 1.0% nickel and 0.08% cobalt containing 56.7 thousand tonnes of nickel and 4.3 thousand tonnes of cobalt. Table 1 (see link below) provides a breakdown of the resource estimate by material type.
Table 2 (see link below) provides a breakdown of the resource estimate reported above a range of cut-off grades and this is illustrated by the grade and tonnage curves in figure 11(see link below).
An Inferred Mineral Resource of 10.6 million tonnes at an average grade of 0.9% nickel and 0.06% cobalt (containing 92.2 thousand tonnes of nickel and 6.4 thousand tonnes of cobalt) is reported above a cut-off grade of 0.65% nickel.
To view tables and figures, please visit:
About White Cliff Minerals Ltd:
White Cliff Minerals is a Gold, Copper, Cobalt, Nickel resources and mining company listed in Australia (ASX:WCN). The Company is focused on developing low cost high value mineral deposits that have near term cash flow potential.
Major projects include the Aucu gold deposit that contains 484,000 ounces of gold (3mt at 5.1 g/t) starting at surface and Chanach copper deposit that contains 64,000 tonnes of copper (17.2Mt at 0.37% copper). Both projects have substantial blue sky potential with drilling covering only 5% of the known structures. In Australia the company is developing the Coronation Dam cobalt–nickel deposit where a maiden resource will be announced in the late 2018.
White Cliff Minerals Ltd.
Todd Hibberd Technical Director T: +61-8-9321-2233 E: firstname.lastname@example.org Dan Smith Non-executive Chairman T: +61-8-9486-4036 W: www.wcminerals.com.au