Makes Strategic Acquisitions And Applications
White Cliff Minerals Limited (ASX:WCN) has entered into a binding Terms Sheet to acquire a 100% interest in the Cracker Jack gold project adjoining the company’s existing tenements within the Reedy area.
The Western Australian project covers 16 sq. km of the highly prospective Meekatharra-Cue goldfields, including strike potential of the prospective Meekatharra-Wydgee greenstone belt.
The project comprises one granted exploration license (E20/938) and one granted prospecting license (P20/2289) and is approximately 10km away from the Reedy’s gold mine and adjoins the company’s existing tenements within the Reedy area.
The project area has been subject to historic drilling between 1993 and 2000, consisting of a mixture of reverse circulation (RC) and Rotary Air Blast (RAB) drilling undertaken by St Barbara Mines and Gold Mines of Australia.
White Cliff is currently undertaking a review of verifiable historical data from WAMEX reports and the Geological Survey of Western Australia (GSWA).
In addition to the acquisition of Cracker Jack, the company has applied for an additional exploration license (E20/974) surrounding its wholly owned tenements in the Cue-Meekatharra goldfields.
E20/974 covers 100 sq. km and with the acquisition of Cracker Jack, expands the size of the Reedy South Gold Project to 272 sq. km.
The license area covers an interpreted extension of the Reedy Shear Zone which hosts the high-grade Triton-South Emu goldmine (Westgold Resources Limited) as well as the Company’s Pegasus and King Cole prospects (M20/446). The license is interpreted to be underlain by the same prospective geology (Bif, mafic/ultramafic contact zone with granites) as the adjoining tenements and will be subject to a detailed review and re-processing of historical data, focusing on magnetics and company scale geological mapping.
Concurrently with the upcoming drilling programme at the Reedy South Gold Project, the company has commenced a detailed desktop review of historical information covering the Cracker Jack project and E20/974, ahead of initial geological mapping.
