White Cliff Minerals Acquires Danvers Copper Project in Nunavut
WHITE CLIFF MINERALS LIMITED (WCN) Share Update November 2024 Monday 25th
White Cliff Minerals Acquires Promising Copper Project in Nunavut
White Cliff Minerals Limited has announced the acquisition of a historically significant copper project in Nunavut, Canada, marking a strategic expansion in their exploration portfolio.
Instant Summary:
- Acquisition of Victoria Copper Ltd, owner of exploration licence L-2797.
- Historic resource estimate of 4.16 million tons at 2.96% Cu.
- Project area includes historic Danvers copper deposit.
- Potential for resource expansion with mineralization open in all directions.
Project Acquisition Details
White Cliff Minerals Limited has successfully acquired Victoria Copper Ltd, which holds the exploration licence L-2797 in the Rae Copper region of Nunavut, Canada. This strategic acquisition includes the historic Danvers copper deposit, known for its significant copper resources.
The Danvers deposit's historic resource estimate stands at 4.16 million tons with a copper grade of 2.96% at a 2% cut-off. However, this estimate is not compliant with the JORC Code 2012, and further verification is required to confirm these figures under current standards.
Exploration and Verification Plans
White Cliff plans to conduct confirmation drilling and other verification work as part of their 2025 exploration program. The company aims to validate the historic data and expand the known mineralized envelope, which remains open along strike and at depth.
Past drilling efforts in the 1960s and early 2000s have indicated significant copper mineralization, with notable intercepts such as 39.40m at 4.9% Cu and 72.70m at 1.6% Cu. These results suggest the potential for substantial resource growth.
Strategic Importance
The acquisition enhances White Cliff's landholding in the Rae Copper region, providing an opportunity to fast-track resource development. The project's proximity to the Hope Lake Airstrip facilitates logistical support for upcoming exploration activities.
The acquisition of the Danvers copper project positions White Cliff Minerals for potential growth in the copper market. The historic resource, while not JORC compliant, indicates significant mineralization that could be expanded upon. This strategic move may positively influence White Cliff's stock as investors anticipate the results of the 2025 drilling program.
Investor Reaction:
Analysts are cautiously optimistic about the acquisition, noting the potential for resource expansion. However, the reliance on historic data means that investor sentiment will hinge on the results of upcoming verification work.
Conclusion:
Investors should watch for updates from White Cliff Minerals regarding their 2025 exploration program and the verification of historic data. The company's ability to convert these historic estimates into JORC-compliant resources will be key to unlocking value from this acquisition.