White Cliff Minerals Discovers IOCG and Epithermal Mineralisation in Maiden Field Program at Great Bear Lake

10 July 2024

Canadian Government grants received to further exploration

(July 10, 2024) White Cliff Minerals Limited (“the Company”) is pleased to announce that widespread, IOCG-U polymetallic, mineralisation has been visually observed1 during the first week of its maiden fieldwork program at its Great Bear Lake U-Cu-Au-Ag Project in northern Canada.

Highlights:

  • Ongoing heli-supported field observations confirm the presence of widespread high-grade IOCG and epithermal mineralisation, some with potentially significant strike lengths.
  • New discoveries at Great Bear Lake include the Glacier prospect (“the Glacier”), a large outcropping IOCG mineralised system identified over more than 1,100m of strike to date, 1km northeast of the historic Echo Bay Mine.
  • Newly identified targets include:
  • Mile Lake, where intense primary copper mineralisation has been identified along ~55m of outcropping rock before disappearing undercover.
  • Rust, where 3 parallel structures have been identified, 3.5km east of the historic Eldorado Mine site, which returned several “off scale” (>65,000) counts per second (“CPS”) on the Company’s handheld RS-125 Super-SPEC scintillometer evidencing potential extensional high-grade uranium.
  • Newly discovered crystalline herringbone-wire native silver occurrence along strike from main historical Bonanza Silver Mine.
  • Confirmation of the historic Thompson outcrop with visible uranium and cobalt mineralisation observed with semi-massive bornite-chalcopyrite.
  • Confirmation of historic Spud Bay, a bonanza Cu location located with trend extended and resampled over ±700m of outcropping strike length before disappearing under cover.
  • Confirmation of Sparkplug, a Cu location, with the definition of a 430 x 160m zone of copper epithermal mineralisation at the periphery of an IOCG prospective collapse structure.
  • Assay results to follow with the first batch of 95 samples already dispatched to ALS Laboratories in Yellowknife.
  • Works associated with MobileMT, the heli-mounted latest aerial technology for the collection of magnetic and conductivity data have commenced and continue.
  • Further updates to follow as exploration activities continue at Great Bear Lake. All pre mobilisation activities completed for Nunavut Project with field works to commence in coming weeks.
  • CAD$168,000 grant has been received from the Canadian Government to be applied towards further exploration activities at Great Bear Lake U-Cu-Au-Ag and Nunavut Cu-Ag-Au Projects.

“Finally, we are on the ground! We could not be any more impressed with what we have seen in such a short period of time. This Project is clearly under-explored with new potential discoveries having been made continuously and immediately. This, coupled with confirmation of the historic mineralised trends at Spud Bay and Thompson really impresses the potential for district scale opportunity across a polymetallic suite of minerals. The first batch of samples have already been dispatched to the labs and we are looking forward to those results in the next month or so; those results we hope will validate our expectations and also provide us with further potential upside for precious metal contents not visible in the field. We look forward to update further with relation to Great Bear Lake exploration activities along with our highly anticipated program at Nunavut.

This maiden campaign is the culmination of the team in Canada’s brilliant work, led by our Executive Director Eric Sondergaard. Their ability to ensure permitting was facilitated and granted in a timely manner, that aligned with our schedule and to successfully gain the grant from the Canadian Government to allow us to further our exploration activities was world class.” Troy Whittaker - Managing Director

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