White Cliff Minerals (ASX:WCN) has intersected visible gold with assays up to 30.1 grams per tonne gold from initial drilling at the Copper-Gold Zone (CGZ) of its Aucu discovery in the Kyrgyz Republic.
White Cliff's shares are expected to gain.
This confirms the high grade gold results from the initial trenching and has defined a high grade mineralised zone that starts at surface.
Assay results from the first six reverse circulation holes include:
- 4 metres at 13.6 grams per tonne gold including 1 metres at 30.1g/t gold from 50 metres;
- 3 metres at 11.5 g/t from 36 metres;
- 4 metres at 23.8 g/t gold from 85 metres; and
- 2 metres at 22 g/t gold from 102 metres.
Results from another two holes are pending. In addition, the company has completed four holes in the Lower Gold Zone (NYSE:LGZ) and most of these samples are at the laboratory for processing.
"The initial drilling results are exceptional and we are confident that this is a significant gold discovery. The scale and grade of the mineralised system is outstanding and augers very well for the future of the project and the company," managing director Todd Hibberd said.
The Company is currently planning additional drilling to extend the existing drill program to test the mineralisation further along strike and at depth.
The drilling has confirmed high grade gold results from trenching and has defined a high grade mineralised zone that starts at surface, has abundant visible gold occurrences and is present in the drilling to 100 metres in depth.
The highest grade mineralisation appears to be related to areas where shear zones intersect and create large fracture systems allowing significant gold deposition.
A total of eight holes covering 400 metres of strike have been completed over the CGZ with depths ranging between 100 and 150 metres. To date, assays have been received for six of the holes targeting the CFZ and results for 2 holes are outstanding.
In addition, four holes have been completed at the Lower Gold Zone (LGZ) and most of these samples are at the laboratory for processing. Further drill results are expected in the next few weeks.
The company had previously identified high grade visible gold including results of 1 metre at 28.9g/t from rock chip channel sampling along road cuttings at Aucu.
Chanach Copper-Gold Project
Aucu is part of the broader Chanach copper-gold project located in the western part of the Tien Shan Belt, a highly mineralised zone that extending for over 2,500 kilometres, 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.
The project hosts porphyry and skarn style copper and gold mineralisation.
Previous drilling had identified several areas containing up to 2.1% copper and 1-2g/t gold while rock sampling has identified up to 5% copper and 40g/t gold within a large mineralised area.
Intersecting visible gold in the initial holes at the CGZ of the Aucu discovery is an outstanding result for White Cliff Minerals.
Besides confirming high grade results from trenching, the holes have also defined a new high grade mineralised zone from surface.
The scale and grade of the mineralised system looks to be potentially large and augers very well for future exploration of the project.
Share price kickers to follow include:
- Further drilling results from the CGZ; and
- Results from holes targeting the Lower Gold Zone.
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