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White Cliff Minerals Ltd (“White Cliff” or “the Company”) is pleased to present its Quarterly Report and Cash Flow Report.
HIGHLIGHTS
- Appointment of experienced mining executive, Roderick McIllree as Executive Chairman.
- Sale of Abraxis Mining Pty Ltd for total consideration $200k cash.
- The transaction is part of an ongoing review of the entire portfolio of projects with further divestments of non-core projects expected over time.
- The Company is currently assessing several, large projects with compelling metrics in stable and transparent jurisdictions.
- Cash and cash equivalents of $5.04 million1 as of the end of September 2023.
OPERATIONS
Hines Hill - REE Project
The Hines Hill REE project consists of two adjoining tenements (Figure 1), located in the wheatbelt region, ±200km east of Perth along the Great Eastern Highway. The tenement area of ~576Km2 covers extensive grain growing properties.
Figure 1: Hines Hill REE Project location map in Western Australia, with regional magnetics’ highlighting multiple higher intensity features, with broad general magnetics in many areas.
During the quarter, a follow up aircore drilling program of 88 drill holes has intersected shallow zones up to 2,066ppm TREO (from 16 metres in drillhole HHC066), with mineralisation open in multiple directions (refer to ASX announcement dated 24 July 2023).
Significant results from Phase 2 include:
- 19m @ 897ppm TREO (203ppm MREO) from 2m (HHC050)
- 13m @ 802ppm TREO (183ppm MREO) from 6m (HHC062)
- 6m @ 1,040ppm TREO (240ppm MREO) from 2m (HHC128)
- 5m @ 2,066ppm TREO (434ppm MREO) from 16m (HHC066)
The drilling completed to date appears to define multiple subparallel north northwest/south southeast trending zones open essentially in these directions. The shallow thicker eastern mineralised area (Figures 2 and 3) tested in the second phase of drilling appears to show a palaeochannel type character with acquisition of accurate topographic data required to confirm. The western mineralised zones (Figure 3) are thinner and more planar in character with a gentle west dip.
Figure 2: Hines Hill area showing focus area of follow up Phase 2 drilling with 88 drill holes to~20 metre depth.
Figure 3: Hines Hill schematic drill section on 6518500mN looking north, which formed the central area of follow up drilling with the 88 drill holes to ~20 metre depth.
Other Project Exploration
Reconnaissance field trips have been undertaken focusing on REE and Lithium mineralisation across the Mineral Fields and Border Exploration projects, as well as at the Company’s Preston River Lithium project, which is located 30km north of the world class Greenbushes Lithium Mine.
These first pass field trips by White Cliff geologists were completed with the aim of getting baseline soil samples and rock chips across prospective geological units. A total of 1,656 soil samples and 78 rock chip samples were taken:
- Preston River Lithium Project, 271 soil samples and 29 rock chip samples
- Diemals REE and Lithium Project, 483 soil samples and 20 rock chip samples
- Barballin REE Project, 187 soil samples and 6 rock chip samples
- Munbinia REE Project, 694 soil samples and 9 rock chip samples
- Ashton Hills Project, 21 soil samples and 29 rock chip samples
Samples have been submitted to and registered with ALS Laboratories Perth, and are expected during August. All samples submitted to ALS Laboratories Perth, are for multi-element assay and will be assessed for all commodities.
Click here for the full ASX Release
This article includes content from White Cliff Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
