Join our daily newsletter At The Bell to receive exclusive market insights
White Cliff Minerals (ASX:WCN) has been down -17.5% in intra-day trade after investors dumped the stock in response to its first step-out holes results from its summer RC campaign at the Danvers Copper Project in Canada.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Compared to the Australian explorer’s May discovery, a visual inspection has this week revealed a 250% increase to 400 metres of the already stretched mineralised footprint; initial assays are due in September.
“An excellent start to the step-out RC drilling at Danvers, where sulphide mineralisation has been observed in all holes,” the company’s managing director, Troy Whittaker, said. “This is a strike increase of more than 250%, with a target to double this again to more than 800m during this campaign.”
Among the standout hits was DAN25012, a 100m step-out to the southwest, which delivered 59 metres of visible sulphides from 56m depth, including over 10 metres of visually estimated 5% bornite and 3% chalcocite.
While DAN25009, which lies 200 metres further northeast, returned lower sulphide concentrations, the consistency of mineralisation observed to date points to a larger system in play, the explorer has suggested.
“Testing of these strike extensions alongside the newly identified surface mineralisation and regional targets within the Danvers Lease is a key focus,” Mr Whittaker highlighted.
Over at Hulk, White Cliff’s other copper target, drilling has resumed after early contractor issues. A new diamond rig is now turning there too, with assays from both Hulk and Danvers expected in the coming weeks.
Results from a Drone MT survey over Danvers are also due back later this month.
More market news
Put the scissors away: Bullock tames RBA cut hopes – and apparently that’s a surprise
Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst
“We look forward to reporting early results from Hulk and the Drone MT survey at Danvers shortly,” Whittaker added.
WCN has been selling flat at 60cps in arvo trade.
Join the discussion: See what HotCopper users are saying about White Cliff Minerals Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)
