2 November 2017 ASX Code: WCN
EQUITY ISSUESWhite Cliff Minerals Limited ("White Cliff" or "the Company") advises that it has completed the placement of 471,142,002 ordinary shares, being the shortfall shares arising from the Company's recent rights issue. These ordinary shares were issued at an issue price of $0.002 to raise $942,284 in working capital for the Company. The ordinary shares have been issued pursuant to the rights issue prospectus and were issued to clients of the rights issue underwriter, Gleneagle Securities Nominees Pty Ltd. The funds raised from this issue will be used to further advance the Company's exploration projects both in the Kyrgyz Republic and Australia.
The Company further advises that, having received shareholder approval at the general meeting of shareholders held on 9 October 2017, it has now issued 173,250,000 2017 Performance Rights to directors on the terms and conditions as set out in the general meeting Explanatory Notice.
An Appendix 3B and the directors Appendix 3Y forms in relation to the above equity issues follow.
***ENDS***
Further Information:
Todd Hibberd | Luke Forrestal |
Managing Director | Media & Capital Partners |
+61 8 9321 2233 | +61 411 479 144 |
todd@wcminerals.com.au | luke.forrestal@mcpartners.com.au |
White Cliff Minerals Limited 1
About White Cliff Minerals LimitedWhite Cliff Minerals Limited is a Western Australian-based exploration company with the following main projects:
Kyrgyz Aucu Gold Project (90%): The Project contains extensive porphyry related gold and copper mineralisation starting at the surface and extending over several kilometres. Drilling during 2014-6 has defined a gold deposit currently containing an inferred resource of 1.8Mt at 5.2 g/t containing 302,000 ounces of gold and 608,000 tonnes at 0.64% copper containing 3870 tonnes of copper. Drilling has also defined a significant copper deposit at surface consisting of 10Mt at 0.41% copper containing 41,000 tonnes of copper.
Extensive mineralisation occurs around both deposits demonstrating significant expansion potential. The project is located in the Kyrgyz Republic, 350km west-southwest of the capital city of Bishkek and covers 57 square kilometres. The Chanach project is located in the western part of the Tien Shan Belt, a highly mineralised zone that extending for over 2500 km, from western Uzbekistan, through Tajikistan, Kyrgyz Republic and southern Kazakhstan to western China.
Merolia Gold and Nickel Project (100%): The project consists of 771 square kilometres of the Merolia Greenstone belt and contains extensive ultramafic sequences including the Diorite Hill layered ultramafic complex, the Rotorua ultramafic complex, the Coglia ultramafic complex and a 51 kilometre long zone of extrusive ultramafic lavas. The intrusive complexes are prospective for nickel-copper sulphide accumulations possibly with platinum group elements, and the extrusive ultramafic rocks are prospective for nickel sulphide and nickel-cobalt accumulations.
The project also contains extensive basalt sequences that are prospective for gold mineralisation including the Ironstone prospect where historical drilling has identified 24m at 8.6g/t gold. Soil sampling in 2016 has identified multiple mineralised gold trends at Burtville East, Comet Well and Ironstone which will be drilled in 2017.
Bremer Range Nickel Project (100%): The project covers over 127 square kilometres in the Lake Johnson Greenstone Belt, which contains the Emily Ann and Maggie Hayes nickel sulphide deposits. These mines have a total resource of approximately 140,000 tonnes of contained nickel. The project area has excellent prospectivity for both komatiite associated nickel-cobalt sulphides and amphibolite facies high-grade gold mineralisation.
Lake Percy Lithium Project (100%): Substantial lithium anomalism has been identified within untested outcropping pegmatites within the Lake Percy tenements.
Laverton Gold Project (100%): The project consists of 136 square kilometres of tenement applications in the Laverton Greenstone belt. The core prospects are Kelly Well and Eight Mile Well located 20km southwest of Laverton in the core of the structurally complex Laverton Tectonic zone immediately north of the Granny Smith Gold Mine (3 MOz) and 7 kilometres north of the Wallaby Gold Mine (7MOz).
The information in this announcement that relates to JORC compliant resources and exploration results for the Aucu Project and the Merolia Gold Project were originally reported in the following ASX announcements in accordance with the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves:
Date | Announcement name |
27/06/17 | Assays confirm High Grade Gold Mineralisation at East Burtville Prospect |
23/05/17 | Metallurgical Test-Work Results - Aucu Gold Deposit |
04/05/17 | Drilling Identifies High Grade Gold Mineralisation |
21/04/17 | Aucu High Grade Gold Resource Increases by 93% |
16/01/17 | High Grade Gold Intersected in Final 2016 Drill Holes |
02/02/17 | New Substantial Gold Anomalies Identified at Comet Well |
21/12/16 | Gold Mineralisation Identified at Ironstone Gold Project |
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of Mineral Resources, all the material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the competent person's findings are presented have not been materially modified from the original market announcements
White Cliff Minerals Limited 2
Appendix 3B New issue announcement
Appendix 3BRule 2.7, 3.10.3, 3.10.4, 3.10.5
New issue announcement, application for quotation of additional securities and agreementInformation or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13
Name of entity |
White Cliff Minerals Limited |
ABN |
22 126 299 125 |
We (the entity) give ASX the following information.
Part 1 - All issuesYou must complete the relevant sections (attach sheets if there is not enough space).
1 | +Class of +securities issued or to be issued |
|
2 | Number of +securities issued or to be issued (if known) or maximum number which may be issued | a) 52,500,000 b) 57,750,000 c) 63,000,000 d) 471,142,002 |
+ See chapter 19 for defined terms.
04/03/2013 Appendix 3B Page 1
Appendix 3B
New issue announcement
3 | Principal terms of the +securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion) |
$0.008. $0.01. $0.013. |
+ See chapter 19 for defined terms.
Appendix 3B Page 2 04/03/2013
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