White Cliff Minerals has completed 12 reverse circulation holes for 1400 metres at its Aucu Gold Project in northwest Kyrgyz Republic. By early September the company had submitted 258 four-metre composite samples to the laboratory near Bishkek, with the remainder in transit from the project site.
Drilling is continuing at the Lower Gold Zone while the company awaits assay results for the holes drilling at the Quartz Zone and the Eastern Gold Zone.
Once results have been received, the company will plan further drilling at these zones.
The company mobilised a second drill rig to the site in mid-August. On September 5, White Cliff said rig two was drilling at the Quartz Zone and rig one was drilling at the Lower Gold Zone.
Aucu contains extensive porphyry related gold and copper mineralisation, and currently hosts an inferred JORC resource of 1.8 million tonnes at 5.2 g/t gold for 302,000 gold ounces.
White Cliff has finalised details of a 1-for-2 non-renounceable rights issue that has raised more than $900,000 from valid applications, with an additional $940,000 to come from the underwriter.
The company will allocate the new funds to exploring its projects both in the Kyrgyz Republic and Australia.