White Cliff Minerals Secures New License and $5M Funding Ahead of Drilling Program

Strategic Licence Acquisition Bolsters Rae Copper Portfolio

White Cliff Minerals Limited has made a significant stride in its northern Canadian exploration strategy with the acquisition of exploration licence L-2797. This licence, situated within the Rae Copper region of Nunavut, encompasses the historic Danvers copper deposit, a site with promising past drilling results dating back to the 1960s and early 2000s. The acquisition not only adds a substantial asset to White Cliff's portfolio but also consolidates its dominant landholding in this highly prospective copper district.

Robust Funding and Regulatory Approvals Set Stage for Drilling

During the December quarter, White Cliff successfully raised $5 million through a placement priced at an 8.5% premium to the recent VWAP, with strategic advisor John Hancock as cornerstone investor. This capital injection ensures the company is well-funded for its upcoming maiden drilling campaign, scheduled to commence in March 2025. Crucially, the company has secured all necessary regulatory approvals, including a Class A Land Use Permit and a Class B Water Licence from Nunavut authorities, clearing the way for exploration activities and camp construction.

Exceptional Assay Results Highlight Project Potential

White Cliff's recent maiden field sampling program at the Rae Copper Project yielded extraordinary rock chip assay results, confirming the presence of exceptionally high-grade copper and silver mineralisation. Notable samples from the Don and Pat vein systems returned copper grades exceeding 60% with significant silver credits, while the Thor and Rocket districts also demonstrated impressive mineralisation over substantial strike lengths. These results validate the company's exploration model and highlight multiple high-priority targets for drilling.

Expertise Engaged for Upcoming Drilling Campaign

To support the maiden drilling program, White Cliff has engaged Aurora Geosciences, a firm with over four decades of experience in northern exploration. Aurora's expertise in geology and geophysics will be instrumental in executing the drilling campaign and integrating data from the recent MobileMT electromagnetic survey, which has provided valuable insights into subsurface structures and potential mineralised zones.

Broader Project Context and Future Outlook

Beyond the Danvers deposit, the Rae Copper Project encompasses a diverse range of mineralisation styles, from sediment-hosted copper targets like Hulk to high-grade vein systems such as Stark and Vision. The company’s systematic approach, combining historic data verification with modern exploration techniques, positions it well to unlock the district-scale potential of this underexplored region. Meanwhile, the Great Bear Lake Project continues to show promise with significant IOCG and polymetallic mineralisation confirmed during 2024 fieldwork.