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White Cliff Minerals starts field exploration at Aucu Gold Project
White Cliff Minerals (ASX:WCN) has started field exploration at its Aucu gold project within the broader Chanach Project in northwestern Kyrgyz Republic.
In March, the company estimated a maiden JORC 2012 Inferred Resource of 1.15 million tonnes at 4.2 grams per tonne for 156,000 ounces of contained gold at the Aucu deposit.
Substantial growth potential was confirmed with the resource remaining open along strike and at depth.
The bulldozer is currently clearing the access road prior to the establishment of the field camp.
This will be followed by cutting new roads to expose the mineralised structures in both the lower gold zone (LGZ) and the upper gold zone (UGZ) along strike in road cuttings.
White Cliff will then carry out a detailed ground magnetic survey this month to delineate the intrusive dioritie porphyries, mineralised structures and cross cutting faults.
All exposed mineralised zone will be mapped and sampled and combined with the magnetic survey to allow a detailed 3D model to be generated.
Exploration in 2015 is focussed on testing the extents of the mineralised system in all directions with a primary goal of doubling the existing resource.
On completion of the magnetic survey and integration of the geological data into a single 3D model the existing reverse circulation and diamond drilling positions will be finalised and drilling will commence in August.
The current program includes 2000 metres to 4000 metres of reverse circulation and diamond drilling that will test the deposit to depths of 200 vertical metres.
“The company has high expectations for the 2015 exploration program given the grade and width of the high grade mineralisation identified last year,” managing director Todd Hibberd said.
“It is not often an initial 3000 metre program can so easily deliver a high grade 156,000 Oz inferred resource starting at surface that contains visible gold in outcropping shear zones.
“Mineralisation remains open in all directions and there is excellent potential to significantly expand the resource in 2015 via additional drilling along strike in the near-surface, open pittable environment as well as targeting extensions down-dip and down-plunge of the higher grade sections of both the Upper Gold Zone and Lower Gold Zone mineralisation.
“Mineralisation has been mapped across adjacent hills and links up with structures crossing the Chanach Copper deposit 2.5 kilometres away.
“The potential of the Aucu gold system is exceptional and we are keen to get cracking and generate a big resource upgrade this year.”
Aucu Deposit
The maiden inferred resource of 1.15Mt at 4.2 g/t gold at the cut-off grade of 1g/t gold is based on 24 RC drill holes totalling 3,037 metres.
This is exposed at surface with visible high grade zones and occurs as the LGZ and UGZ zones, which occur in silicified sandstone.
Significant results from the drilling, which returned multiple zones of high grade gold from surface, include:
– 19 metres at 6 g/t gold from 71 metres;
– 6 metres at 13.1 g/t gold from 50 metres;
– 4 metres at 23.8 g/t gold from 85 metres; and
– 2 metres at 22 g/t gold from 102 metres.
There is further upside potential given that there are many mineralised zones within the 2 kilometre plus long and 1.5 kilometre high area
Aucu is located within the 83 square kilometre Chanach Gold and Copper Project, which contains multiple mineralised zones and has good access to road and rail infrastructure.
It is also close to regional mining support hubs as well as operating mines like Terek Sai (gold), Bozymchak (copper-gold-silver) and Ishtamberdy (gold).
Analysis
Exploration has started at the Aucu Gold Project that targets a doubling in the current Resource of 1.15 million tonnes at 4.2 grams per tonne for 156,000 ounces of contained gold.
Aucu and Chanach also benefit from strong government support. The Kyrgyz Republic is committed to developing new mines.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/61855/white-cliff-minerals-starts-field-exploration-at-aucu-gold-project-61855.html
