White Cliff Minerals Limited (White Cliff or the Company) is pleased to announce it has secured 61 highly prospective mineral claims covering an area of ±80,500ha (>805km2) within the province of Nunavut, Canada.
- The license area includes multiple historic high grade copper projects in the Coppermine River area (“Coppermine”), in Nunavut, Canada.
- The Coppermine licence area totals 805km2 and is host to numerous extraordinarily high-grade copper lodes located along the same structural trend, primarily consisting of chalcocite, bornite, chalcopyrite and native copper.
- Utilising modern high-resolution magnetics, extensive rock chip results, trench and drill results the outcropping structure of mineralisation can be traced over 100km+ in total strike length.
- Exploration has validated dozens of highly prospective occurrences of copper and silver mineralisation; some high-grade copper rock chip results (See Table 2) include:
- 30.24% Cu, 34g/t Ag at Halo Prospect
- 30.25% Cu, 43g/t Ag at Halo Prospect
- 35.54% Cu, 17g/t Ag at Cu-Tar Prospect
- 21.18% Cu, 9g/t Ag at Cu-Tar Prospect
- 30.7% Cu, >200g/t Ag at Don Prospect
- >40% Cu, 115g/t Ag at Don Prospect (above Cu detection range)
- >40% Cu, 107g/t Ag at Don Prospect (above Cu detection range)
- 12.1% Cu, 3g/t Ag at Moose Lake Prospect
- 12.1% Cu, 17g/t Ag at Far Prospect
- Coppermine contains numerous historical non JORC or NI 43-101 and ‘blue sky’ mineral estimates that will be a priority for the Company.
- Licences cover many deep seated structures associated with the fluids responsible for enrichment of the “red bed” mineralisation seen throughout Nunavut as well as the fracture fill and structurally controlled high-grade copper occurrences in the local area.
- The Company will engage with the local Kugluktuk Community as well as other regional and national regulatory stakeholders to raise awareness regarding the significance of these projects.
- Move to secure Canadian based technical manager advancing.
- Company maintains current cash and liquid securities balance of ±AU$3.8m
Commenting on the transaction, White Cliff Chairman, Roderick McIllree (FAusIMM) said:
“This project is exceptional, just like all great discoveries it has a deep history that in this case can be traced back to the early 1700’s. Managing to secure, at very little cost, 100% tenure with no royalty over a such a massive, mineralised trend analogous in scale, geology and evolution to the entire Mt Isa & Keweenaw Peninsula copper provinces is a remarkable result for shareholders.
Importantly for short term value creation the high-grade structurally controlled copper mineralisation within the Coppermine Formation appears to have significant lateral extent and we will be analysing a significant database of historical results with regular news likely to follow.
Numerous and repeatable, high-grade results can be traced along local and regional shear zones that extend in total along more than 100km’s along our ground. Identifying the detailed dimensions of these high-grade mineralised occurrences will be the short-term focus. I believe the scale of these mineralised trends will be proven to be significant over time. Utilising existing recent high-resolution magnetics and extensive rock chip, trench, and drill results, in several instances the strike of outcropping high grade mineralised material can be traced at surface for very long distances.
Added to this structurally controlled potential, a second geological model for the emplacement of very large-scale large tonnage sedimentary hosted “red bed” copper mineralisation exists that is related to rifting / vulcanism and subsequent metal emplacement.
With the recently announced planned closure of Mt Isa the timing could not be better for the identification and development of similar sized, high grade, copper province.
This is a remarkable opportunity for White Cliff, the potential to create significant shareholder value is obvious. Planning for site-based activities is underway as well as interrogation, verification and publication of a historical datasets means we will be updating shareholders on this project regularly.
We also hope to update shareholders on several additional complimentary projects we have also secured at very low cost within the coming weeks.”
About The Project
The Coppermine River Project covers 805km2 of flood basalts, including multiple, highly prospective mineral showings/outcrops (Figure 1 & Table 2). Most of these copper occurrences are structurally controlled along steeply dipping fault fissures and fault-breccia zones in the basalts. Mineralisation occurs mainly as massive bornite-chalcocite occurrences with lesser chalcopyrite and associated calcite, hematite, native copper and chlorite.
The geology of the Coppermine District is characterised by an easterly-trending copper- bearing belt of Meso-Proterozoic continental flood basalts and associated marine sedimentary rocks of Neo-Proterozoic age. This belt extends 80 kilometres south from Kugluktuk, on the Coronation Gulf, and 174 kilometres west to 64 kilometres east of Coppermine River. The district is best known for the 'Coppermine River Group' basalts which feature extremely high- grade copper showings of >45% Cu within the volcanic pile. The Company will initially base its logistical hub in Kugluktuk, a town of approximately 1,500 people, around 30km to the north of the project area. Kugluktuk is accessible by both plane and ship.
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