Results from the first six reverse circulation drill holes at the Copper-Gold Zone (CGZ) of White Cliff Minerals’ Chanach project have identified extensive high grade mineralization within two shear zones. Drill cuttings from these zones revealed visible gold.
Results include 4 metres from 50 metres @ 13.6 grams/tonne gold including 1 metre @ 30.1 grams/tonne, 3 metres from 36 metres @ 11.5 grams/tonne, 5 metres from 55 metres @ 4.2 grams/tonne, 4 metres from 85 metres @ 23.8 grams/tonne and 2 metres from 102 metres @ 22 grams/tonne.
The results confirm the high grade gold results from the initial trenching and have defined a high grade mineralized zone that starts at surface, contains abundant visible gold occurrences and is present in the drilling to 100 metres in depth. The highest grade mineralization appears to be related to areas where shear zones intersect and create large fracture systems allowing significant gold deposition.
White Cliff is planning additional drilling to extend the existing program in order to test the mineralization further along strike and at depth.
A total of eight holes covering 400 metres of strike have been completed over the GGZ with depths ranging between 100 and 150 metres. Assays from so far been received from six of the holes and results for two holes are outstanding. In addition four holes have been completed at the Lower Gold Zone and most of these samples are at the laboratory for processing.
The company’s managing director Todd Hibberd says, “The initial drilling results are exceptional and we are confident that this is a significant gold discovery. The scale and grade of the mineralized system is outstanding and augurs very well for the future of the project.”
Meanwhile, White Cliff has entered into a 24-month funding agreement with Magna Equities, a New York-based investment firm. The US$4 million convertible note facility will enable the company to accelerate the exploration program for its Australian and Kyrgyz projects over the coming two years.