Join our daily newsletter At The Bell to receive exclusive market insights
White Cliff Minerals Ltd (ASX:WCN) has secured a cluster of licenses connected to the Nunavut Coppermine project in Canada, with these comprising multiple targets, and areas of anomalous mineralisation for the three metals.
Having embarked on early exploration at the project in May, White Cliff has now added 63 square kilometres of newly available land to its initial 805 square kilometre dimensions, with the new land comprising several significant areas of anomalous Cu-Ag-Au.
This includes the Halo project – which as well as featuring outcropping, has also yielded intercepts of up to 4.7metres at 10.47 percent copper – and the Pat prospect, where rock chip samples of more than 40 percent copper have been discovered.
The adjacency of these new licenses to the ones already granted is expected to support White Cliff’s aim of progressing further exploration work at Nunavut in the coming weeks.
Managing director Troy Whittaker said the company was pleased to have completed the license acquisition process with the addition of these two new priority areas.
“After stalking the process for several months and having assessed these areas in-depth previously, we were in pole position when this ground was released for application and I am pleased to say we were successful in securing the last missing pieces of our puzzle and hence our strategy of securing the most desired ground in the area is complete,” he said.
“There is now an obvious land rush in the broader Coppermine area and our first mover advantage has given us a huge head start in acquiring the premium ground and we are now pretty much surrounded by new entrants to the area small.
“The fact that this land is cohesive to our existing project, has delivered similar high-grade rock chip results which shows a mineralised system opened in all directions, is a massive achievement.”
He added that the company would be heading back into the territory in a few weeks’ time to begin a maiden field campaign and to run a heli-mounted MobileMT survey, which would help identify both high-grade volcanic hosted copper-silver mineralisation and high-tonnage potential sedimentary hosted copper prospects.
The market has been happy with the news, and at 13:23 AEDT, White Cliff was trading at 1.5 cents, a rise of 7.14 percent since the market opened.
-1200x645-380x200.jpg)