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White Cliff soars on gold nugget find

21st May 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – The share price of ASX-listed White Cliff Minerals increased by about 57% on Thursday, on news of the discovery of substantial gold nuggets from the Mt Remarkable project, in Western Australia.

The two nuggets weighed 8 oz and 10 oz respectively, and have been valued at A$27 000.

The nuggets were recovered by a local prospector operating under a tribute agreement with the company. White Cliff MD Todd Hibberd said that the area where the nuggets were located had had minor previous exploration, including two trenches and surface sampling.

The quartz reef had not been tested, and White Cliff would now conduct further exploration to assess the potential for substantial gold deposits.

“The discovery of two gold nuggets of that size is a significant find that upgrades the prospectivity of the Mt Remarkable project. The size and strength of the gold anomaly is highly encouraging and warrants follow-up drilling,” Hibberd said.

White Cliff was trading at a high of 1.4c a share on Thursday, up from an opening price of 0.8c a share.

Edited by Creamer Media Reporter

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