White Cliff Minerals (ASX: WCN) has identified visible gold in proximity to its high-grade Aucu gold deposit in the Kyrgyz Republic following a recent bulk sampling program.
The Perth-based company undertook the program along a 450m section of the Chanach river alluvial terraces, 1km downstream from the Aucu gold deposit, to assess the placer gold potential of the 16km long river system.
Visible gold was detected in 62 of the 65 samples collected. Overall, the samples were assessed for alluvial gold, rock and clay particle size distribution. Sub-samples were also collected and manually panned down to a concentrate.
White Cliff said the sub-sample concentrates consisted of heavy minerals including magnetite, iron sulphides, trace copper and gold.
“Assessment of the gold distribution highlighted a trend where the size of the gold particles decreased but gold particle abundance increased as the sampling moved westwards down the river,” the company said.
Two river sediment samples were also collected at the tenement boundary next to the nearby alluvial mining operation, with one of the samples containing visible gold.
The identification of gold comes soon after new outcropping gold and copper mineralisation was detected up to 4km east of Aucu.
Results from laboratory analysis of the samples are expected next month.
Aucu gold deposit
White Cliff holds a 90% interest in the Aucu project, which is located over 57 square kilometres of land approximately 350km west-southwest of the capital city of Bishkek.
The Aucu gold deposit is hosted in sandstones, conglomerates and minor granodiorites that flank a series of felsic porphyry intrusions considered to be responsible for both epithermal gold mineralisation and copper porphyry mineralisation.
The Aucu gold deposit currently contains an inferred gold resource of 2.95 million tonnes grading 5.1 grams per tonne gold for 484,000 ounces of contained gold.
In addition, the project contains an inferred copper resource of 17.2Mt at 0.36% copper containing 64,000t of copper.
While field exploration ceased in December due to unfavourable weather, which consisted of heavy winter snow, the company expects to re-commence exploration activity in the area in March.
White Cliff shares rose 37.5% in early afternoon trade to $0.022.