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Mining Capital
EPIC: WCN
Market: ASX
52-week High/Low: A$2.45 / A$0.00
Sector: Mining
Market Cap: A$6.34M

White Cliff Minerals Ltd (ASX:WCN) is a Western Australian based mineral exploration company.

White Cliff Minerals Ltd

www.wcminerals.com.au

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Big picture - Why invest in White Cliff Minerals Ltd

White Cliff Minerals Ltd Snapshot

White Cliff Minerals Limited (ASX:WCN) was incorporated in 2007 to undertake nickel and gold exploration in Western Australia. The company has extensive tenement positions in some of the most prospective greenstone belts in goldfields region of Western Australia adjacent to and along strike from world class gold and nickel deposits. In 2010 the company acquired a 57% interest in an advanced copper-gold project in Central Asia.

The Company is focussed on defining JORC compliant mineable resources at all projects using a systematic exploration process that encompasses the latest advanced scientific research and technologies.
White Cliff Minerals Limited is a Western Australian based exploration company with the following main projects:

Merolia Project (100%): The project consists of 771 square kilometres of the Merolia Greenstone belt and contains extensive ultramafic sequences including the Diorite Hill layered ultramafic complex, the Rotorua ultramafic complex, the Coglia ultramafic complex and a 51 kilometer long zone of extrusive ultramafic lava’s. The Intrusive complexes are prospective for nickel-copper sulphide accumulations possibly with platinum group elements, and the extrusive ultramafic rocks are prospective for nickel sulphide and nickel-cobalt accumulations. The project also contains extensive basalt sequences that are prospective for gold mineralization including the Ironstone project where historical drilling has identified 24m at 8.6 g/t gold. more

Lake Johnston Project (100%): The project covers over 650 square kilometres in the Lake Johnston Greenston Belt, which contains the Emily Ann and Maggie Hayes nickel sulphide deposits. These mines have a total resource of approximately 140,000 tonnes of contained nickel. The project area has excellent prospectivity for both komatiite associated nickel sulphides and amphibolite facies high-grade gold mineralization. more

Laverton Gold Project (100%): The project consists of 200 square kilometres of tenement applications in the Laverton Greenstone belts. The core prospects are Celia, Kelly Well and Eight Mile Well located 20-50km southwest of Laverton in the core of the structurally complex Laverton Tectonic zone immediately north of the Granny Smith Gold Mine (3 MOz) and 7 kilometres north of the Wallaby Gold Mine (7 MOz). more

Chanach Copper-Gold Project (57%): The project is located in the Kyrgyz Republic, 350km west-southwest of the capital city of Bishkek and covers 83 square kilometres. The Chanach project is located in the western part of the Tien Shan Belt, a highly mineralised zone that extending for over 2500 km, from western Uzbekistan, through Tajikistan, Kyrgyz Republic and southern Kazakhstan to western China. Mineralisation occurs as porphyry and epithermal systems developed within magmatic arcs, and orogenic type gold deposits that are structurally controlled. Major deposits located within 100km of Chanach contain up to 93 million ounces of gold and 25 million tonnes of copper. Initial work indicates that the project may host porphyry and skarn style gold and copper mineralisation. Drilling during 2010-2013 has identified extensive copper-gold porphyry mineralisation with copper values of up to 2.1%. more





The Merolia Nickel-Copper and Gold Project (100%)
Updated: 30/11/2013

Highlights

- Licences cover 771 km2 in a region prospective for magmatic nickel and copper sulphides and orogenic gold deposits 
- Multiple nickel and copper anomalies along a 65 kilometres long ultramafic sequence including:
- Significant prospectivity confirmed by soil geochemistry
- Prospective zones (basal contacts) not tested by electromagnetics (EM) or drilling
- Multiple anomalous gold prospects including:
- Ironstone Range with results of 24 metres at 8.6 g/t gold from 113m
- Wide alteration zones prospective for gold mineralisation and;
- Extensive strike extent with 2m at 3.01 g/t gold from 50m in a RAB hole 800m along strike
- Planned 2014 exploration includes detailed electromagnetic surveys, geochemical sampling and drilling

White Cliff Minerals Limited has successfully secured a major section of the Merolia greenstone belt southeast of Laverton in the Eastern Goldfield of WA covering 771 square kilometres that is prospective for magmatic nickel and copper sulphides and orogenic gold deposits (Figure 1). The Company has secured 100% of the Merolia project via competitive license applications for a total acquisition cost of $42,800. The tenement package consists of six exploration licences. 

The Merolia project contains numerous magmatic nickel-copper targets that into two categories:

1. Layered mafic-ultramafic intrusions: where the nickel and copper sulphides can form at the bottom of the intrusion around the feeder conduit. Regional examples include the Nova Bollinger deposit in the Frazer Range, the Sally Malay deposit in the Kimberly’s and the Nebo-Babel deposit in the Musgrave region.

2. Extrusive ultramafic lava flows: where the nickel and copper sulphides can form along the bottom of the lava channel in depressions and in areas of ponding. Examples include the Victor Long deposit in Kambalda, the Camelwood (Rox Resources) and Rosie deposits (Independence Group) north of Laverton.

The above discoveries highlight the potential for the Merolia nickel-copper project to host similar mineralisation as the project contains both intrusive layered ultramafic and extrusive komatiitic type targets including: 

1. The Diorite Hill basal contact where historical geochemistry has identified nickel and copper soil anomalies prospective for magmatic nickel-copper sulphide mineralisation. No electromagnetic surveys have been conducted and these targets have never been drill tested.

2. The Coglia ultramafic complex where shallow historical drilling identified extensive nickel in laterite with associated copper and platinum-palladium anomalies. Nickel values within the laterite profile are typically in the 0.6% to 0.8% range with values up to 1.83% nickel.  No electromagnetic surveys have been conducted and the basal contacts have not been drill tested.

3. The Rotorua ultramafic complex where virtually no exploration has been carried out across the main 10km by 1.5km sill. Anomalous nickel in soil results do occur at the southern tip of the complex.

4. Extensive extrusive komatiitic sequences that are also highly prospective for basal contact nickel sulphide accumulations along a 51 kilometre trend. 

The project also includes multiple advanced gold targets in a region with several world class gold deposits. These include the advanced Ironstone prospect where historical drilling results include 24 metres at 8.6 g/t from 113 metres depth in fresh rock. 

White Cliff has almost completed the collation of all historical exploration and this has highlighted numerous targets that warrant immediate follow up work. The Company is currently prioritising the targets and will release detailed prospect information and exploration plans over 2014.

Figure 1: Geological plan of the 771 km2 Merolia Project showing magmatic nickel-copper sulphide prospects and lode gold prospects.





The Lake Johnston Nickel Project (100%)
Updated: 30/11/2013

The project covers over 650 square kilometres of the Lake Johnson Greenstone Belt. The project area has excellent prospectivity for both komatiite associated nickel sulphides and amphibolite facies high-grade gold mineralisation. 

The greenstone belt also contains two previously operating nickel mines (Norilsk’s Emily Anne and Maggie Hays mines) that contained total resources of approximately 140,000 tonnes of contained nickel.

During 2013 the Company undertook a detailed review of the Lake Johnston nickel project particularly the Lake Percy and Mt Glasse prospects (Figure 1).

Figure 1: Regional geology map showing tenement holdings, mine locations and the location of the Mt Glasse and Lake Percy prospects.





The Laverton Gold Project (100%)

Highlights
- Extensive tenement package covering 1200 square kilometres in the core of the Laverton Tectonic Zone
- Surrounded by multi million ounce deposits such as Wallaby (7 MOz), Sunrise Dam (7MOz, Granny Smith (3MOz)
- Historical assays of 8m @ 8.81 g/t gold and 4m @4.99 g/t gold at Kelly Well
- Leases occur along strike from Minara’s Murrin Murrin East nickel laterite deposit
- Extensive Soil Geochemical sampling program in progress to be followed by drilling where anomalies are identified

Introduction
The project consists of 1200 square kilometres of tenement applications in the Laverton and Merolia Greenstone belts. The core prospects are located 20km south of Laverton in the core of the structurally complex Laverton Tectonic zone immediately south of the Granny Smith Gold Mine (3 MOz) and 7 kilometres east of the Wallaby Gold Mine (7MOz). In addition, applications are pending over a large part of the Merolia Greenstone belt immediately Southwest of Laverton

Historical exploration at the Kelly Well prospect has identified a zone of mineralisation extending over 300 metres in length at the base of an ancient drainage system and in the underlying bedrock.

The best results include:





The Chanach Copper-Gold Deposit, Kyrgyz Republic, Central Asia
Updated: 31/03/2014

Summary

The Chanach copper project is situated in northwest region of the Kyrgyz Republic and covers 83 km2. The project consists of two deposits, The Aucu epithermal copper and gold deposit and the Chanach porphyry copper and gold deposit.

In February 2014 White Cliff Minerals (“White Cliff”) signed an options agreement with T2 Gold Pty Ltd (“T2 Gold”) to acquire their 32.2% interest in the Chanach Copper-Gold project in the Kyrgyz Republic (“Chanach”). Following exercise of the option, White Cliff’s interest in Chanach, which includes the recently discovered high grade Aucu copper and gold epithermal vein system, will increase to 88.7%.






Last updated 6th March 2015.
Todd Hibberd 
Managing Director

Mr Hibberd aged 44, is a geologist with an extensive background in exploration and mining including 15 years in exploration, resource estimation, mine development and production management. Recent experience includes two years as Managing Director of ASX listed Stonehenge Metals Limited and ten years working for Newmont Mining Corporation in various senior exploration and production roles.

Mr Hibberd holds a Bachelor of Science (Hons) in Geology from the University of Canterbury and a Master of Science in Mineral Economics from Curtin University. Mr Hibberd is member of the Australasian Institute of Mining and Metallurgy has sufficient experience to be considered a “Competent person” when reporting resources and reserves according to the Joint Ore Reserve Committee (JORC) guidelines.



Michael James Langoulant
Executive Chairman

Mr Langoulant, aged 54, is a Chartered Accountant with over 20 years experience in public company corporate administration and fundraising. He has acted as finance director, CFO, company secretary and non-executive director with a number of publicly listed resource companies.

He is currently an executive director of ASX/AIM listed Nyota Minerals Limited. Mr. Langoulant’s initial experience was gained through 10 years with large international accounting firms. Since 1994 he has operated his own corporate consultancy firm.

 

Rodd Boland 
Non-Executive Director

Mr Boland, aged 46, is a corporate advisor with over 20 years of corporate and financial industry experience in investment banking, executive management and the capital markets including advising to and raising equity for corporations in the form of venture capital, private equity, seed offering and initial public offerings. 

Recently, Mr. Boland has been engaged in a corporate advisor role with the Sydney based merchant bank Emerald Partners where he has assisted in the successful IPO’s of Laconia Resources Ltd, Rubianna Resources Ltd and Raisama Ltd. Mr. Boland holds a Bachelor of Commerce from the University of NSW, Sydney and an MBA from the University of Notre Dame, South Bend Indiana, USA.

Additional external technical consultants will be engaged as and when appropriate.

 

 

Last updated 6th March 2015.

Directors 
Michael Langoulant
Todd Hibberd
Rodd Boland

Company Secretaries
Michael Langoulant
Brooke White

Registered office and principal place of business
Suite 2, Level 1
47 Havelock Street
West Perth, Western Australia 6005

Telephone: (08) 9321 2233
Facsimile: (08) 9324 2977
Website: www.wcminerals.com.au

Share registry
Computershare Investor Services Pty Ltd
Reserve Bank Building
Level 2
45 St Georges Terrace
Perth, Western Australia 6000

Auditors 
HLB Mann Judd
Chartered Accountants
Level 4, 130 Stirling Street
Perth, Western Australia 6005

Solicitors 
Jackson McDonald Lawyers
Level 25, 140 St Georges Terrace
Perth, Western Australia 6000

ASX codes
White Cliff Minerals Limited is listed on the Australian Stock
Exchange (Shares:WCN)

 

 

Last updated on 6th March 2015.

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