White Cliff Starts 4,000m Drilling Program; Sells Reedy South Gold Project for A$1.2m

Drilling Momentum at Rae and Danvers

White Cliff Minerals Limited has made decisive strides in its exploration efforts during the March quarter, focusing on the Rae Copper Gold Silver Project and the Danvers Copper Prospect in Nunavut, Canada. Following the receipt of all necessary permits, including a Class A Land Use Permit and Class B Water Licence, the company mobilised infrastructure to support its maiden drilling campaign, which commenced in April 2025.

The drilling program targets approximately 4,000 metres across 25 reverse circulation holes, designed to test the massive Hulk sediment-hosted copper target and the Danvers volcanic-hosted breccia system. Early visual inspections of drill chips from Danvers have revealed widespread sulphide mineralisation, with some holes exhibiting continuous visible sulphides over intervals exceeding 90 metres. Notably, hole DAN25008 ended in mineralisation after 175 metres, underscoring the prospect’s potential depth extension.

Infrastructure and Year-Round Drilling Capability

Significant preparatory work was undertaken to establish a robust operational base, including the certification of the project airstrip for Twin Otter and Dash 7 aircraft, and the setup of camp infrastructure with communication systems and fuel supplies. This one-off infrastructure investment positions White Cliff to conduct drilling activities year-round, a strategic advantage in the challenging northern environment.

Historical Context and Exploration Upside

The Danvers Copper Deposit, with historic drilling dating back to the late 1960s and early 2000s, carries a historic resource estimate of 4.16 million tons at 2.96% copper, though this is not JORC-compliant and requires further validation. White Cliff’s current drilling aims to verify and expand upon these historic zones, with early visual results supporting the geological model of multiple mineralised lodes and sulphide zonation. Additionally, surface sampling has identified outcropping copper mineralisation extending 4.7 kilometres along strike from Danvers, highlighting the structural fertility and exploration upside across the licence area.

Strategic Asset Sale and Financial Position

Post-quarter, White Cliff announced the sale of its Reedy South Gold Project for A$1.2 million in cash, subject to Foreign Investment Review Board approval and ministerial consent. The proceeds will be paid in three tranches over six months, bolstering the company’s liquidity. At quarter-end, White Cliff held approximately A$3.79 million in cash and equivalents, including listed investments valued at A$0.84 million. Exploration expenditure for the quarter was A$1.382 million, with corporate and administrative costs of A$377,000.

Great Bear Lake Project and Future Outlook

While no exploration activity occurred at the Great Bear Lake Project during the quarter, the company continues to integrate historic data and modern geophysical surveys to identify prospective IOCG targets. The project remains a significant district-scale opportunity with demonstrated polymetallic mineralisation, including high-grade copper, gold, silver, and cobalt.

White Cliff’s ongoing drilling results, combined with strategic asset management and a solid cash position, set the stage for a potentially transformative phase of exploration and resource definition. Assay results from the current drilling campaign are anticipated within the next two to four weeks, which will be critical in confirming the grade and extent of mineralisation observed visually.