High grade gold has been intersected in the final 2016 drill holes completed at White Cliff Minerals Aucu Gold Project in the Kyrgyz Republic. These results will be included in a new JORC-compliant resource estimate due for completion in March.

Gold mineralisation has been intersected in each of the last three holes at the Quartz Zone extending the identified mineralisation a further 50 metres along strike. The best results are 3 metres @ 11.9 g/t gold, 3 metres @ 11.2 g/t and 5 metres @ 7.6 g/t.

In addition, 50 metres further southeast on section 2880, channel sampling identified gold mineralisation in outcrop that returned assay results of 3 metres at 3.8 g/t. The extent of mineralisation at the Quartz Zone remains open along strike and at depth.

Following the completion of the 2016 drilling campaign mining consultants CSA Global are preparing the new estimate.

After this is completed a preliminary open pit mining optimisation study will be conducted to establish the baseline economics of the project, to form part of an application for a mining licence and to assist with optimising future drill programs.

In conjunction with the resource estimate the company is also conducting a substantial gold and copper metallurgical test work program to better outline potential processing options for the deposit.

Provided the metallurgical test work produces the high gravity gold recoveries (88.8% gravity recoverable and 99% total recoverable gold) encountered in previous studies, the company believes that a low cost simple gravity plant could allow the project to provide substantial cash flow within a short time frame.

White Cliff managing director Todd Hibberd said, “The final 2016 drill results continue to extend the high grade Quartz Zone with mapping and rock chip sampling indicating further strike extension for at least another 100 metres to the southeast. The zone remains open along strike and at depth and will be the focus of further drilling in 2017.

“Overall the 2016 drill program has successfully discovered new high grade near surface gold zones containing substantial visible gold. The results from the 2016 drill program will be used to calculate a new JORC-compliant resource which should be available before the end of the first quarter of 2017.”