THE BOURSE WHISPERER: White Cliff Minerals (ASX: WCN) has secured a section of the Merolia greenstone belt southeast of Laverton in the Eastern Goldfield of Western Australia covering 771 square kilometres the company considers to be prospective for magmatic nickel and copper sulphides and orogenic gold deposits.
The company has acquired 100 per cent of the Merolia project via competitive license applications for a total acquisition cost of $42,800.
The tenement package consists of six exploration licence applications and two granted exploration licenses.
Geological plan of the Merolia project showing magmatic
nickel-copper sulphide prospects and lode gold prospects. Source:
“The company is very pleased to secure such a high-quality asset with numerous magmatic nickel-copper targets,” White Cliff Minerals managing director Todd Hibberd said in the company’s announcement to the Australian Securities Exchange.
The targets fall into two categories:
Layered mafic-ultramafic intrusions where the nickel and copper sulphides can form at the bottom of the intrusion around the feeder conduit. Regional examples include the Nova Bollinger deposit in the Frazer Range, the Sally Malay deposit in the Kimberly’s and the Nebo-Babel deposit in the Musgrave region; and
Extrusive ultramafic lava flows where the nickel and copper sulphides can form along the bottom of the lava channel in depressions and in areas of ponding. Examples include the Victor Long deposit in Kambalda, the Camelwood (Rox Resources) and Rosie deposits (Independence Group) north of Laverton.
White Cliff Minerals believes these discoveries highlight the potential for the Merolia nickel-copper project to host similar mineralisation.
It said it has come to this conclusion as the project contains both intrusive layered ultramafic and extrusive komatiitic type targets.
The project also includes multiple advanced gold targets in a region with several world class gold deposits.
“White Cliff has almost completed the collation of all historical exploration and this has highlighted numerous targets that warrant immediate follow up work,” Hibberd said.
“The company is currently prioritising the targets and will release detailed prospect information and exploration plans over the next few weeks.”