WHITE Cliff Minerals has defined maiden JORC 2012 resources for the Aucu gold and Chanach copper deposits in the Kyrgyz Republic. The resources validate the company’s development strategy.
An inferred resource of 1.15 million tonnes @ 4.2 grams/tonne for 156,000 ounces of contained gold using a lower cut-off grade of 1 grams/tonne gold has been estimated at Aucu.
Substantial growth potential has been confirmed with the resource remaining open along strike and at depth. The resource is based on 24 RC holes over a 3000 metre strike length and extends to a depth of 100 metres below surface in two zones – Lower Gold Zone (LGZ) and Upper Gold Zone (UGZ). Further drilling is scheduled in July targeting resource extensions, particularly below the higher grade intersections.
White Cliff has also estimated an inferred resource of 10 million tonnes @ 0.41% copper, or 40,000 tonnes of contained copper, using a lower cut-off grade of 0.25% copper at Chanach. The mineralized zone starts from the surface and is open at depth and along strike. Drilling is scheduled to target multiple copper zones outside the existing resource.
“The maiden JORC (2012) compliant mineral resource estimates for Aucu gold deposit and Chanach copper deposit are excellent initial steps in validating the company’s development strategy for the project since increasing ownership to 88.7% in 2014,” says White Cliff managing director Todd Hibberd.
“The 3037 metres of drilling completed in 2014 has delivered a high grade gold resource containing 156,000 ounces, starting from surface at a total discovery cost of $6 per ounce. Importantly, the mineralization remains open in all directions and there is excellent potential to significantly expand the resource in 2015 via additional drilling along strike in the near-surface, open pittable environment as well as targeting extensions down-dip and down-plunge of the higher grade sections of the UGZ and LGZ mineralization.
“Mineralization has been mapped across adjacent hills and links up with structures crossing the Chanach deposit 2.5km away. The potential of the Aucu system is exceptional and the company is planning extensive exploration activities for the 2015 field season.”
Aucu is a structurally controlled Permian aged lode-gold deposit that occurs within the northern part of the Tien Shan Gold belt, a 2500km mineralized corridor from western China to Uzbekistan. Gold mineralization occurs along shear zones. Chanach is a Permian multi-phase intrusive porphyry system dominantly within granodioritic porphyry and dioritic dykes. Mineralization occurs in narrow 1-5 metres wide shear zones.