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White Cliff Minerals (ASX:WCN) doubles cash burn in September quarter
Source: White Cliff Minerals
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  • White Cliff Minerals (WCN) is set to acquire the Cracker Jack Gold Project and expand its Reedy South Gold Project in WA
  • White Cliff entered a binding term sheet to acquire the Cracker Jack Project for $30,000 in cash
  • The project is located in the Meekatharra-Cue goldfields and adjoins White Cliff's Reedy South Gold Project
  • The miner has applied for an exploration licence at Reedy South which, along with the acquisition of Cracker Jack, will expand Reedy South to 272 square kilometres
  • White Cliff is conducting a review of historical data at Cracker Jack and will also undertake reconnaissance work and a drilling program at Reedy South
  • Company shares are up 13.8 per cent and are trading for 3.3 cents

White Cliff Minerals (WCN) is set to acquire the Cracker Jack Gold Project and expand its Reedy South Gold Project in Western Australia.

Cracker Jack

White Cliff entered a binding term sheet with the tenement holder, Peter Gianni, to acquire a 100 per cent interest in Cracker Jack for $30,000 in cash.

The project comprises one exploration licence (E20/938) and one granted prospecting licence. It covers 16 square kilometres of the highly prospective Meekatharra-Cue goldfields. The project is also located just 10 kilometres south of the Reedy Gold Mine and adjoins White Cliff's existing tenements within the Reedy area.

In the 1990s, St Barbara Mines and Gold Mines of Australia conducted reverse circulation and rotary air blast drilling at the project. White Cliff is now reviewing the historical data and will report on its findings in due course.

Reedy South

Additionally, White Cliff Minerals has applied for an additional exploration licence to expand its Reedy South Gold Project.

The pending exploration licence covers 100 square kilometres and, with the acquisition of Cracker Jack, the size of Reedy South will expand to 272 square kilometres.

Adding the extra tenement to its portfolio will also provide additional prospective strike of the prolific Reedy Shear Zone.

White Cliff will conduct first pass ground reconnaissance work at the licence application, along with an upcoming maiden drill program at the mining lease within Reedy South.

Company shares are up 13.8 per cent and are trading for 3.3 cents at 11:09 am AEDT.

WCN by the numbers
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