White Cliff Minerals has delivered robust high-grade copper results at its Rae Copper Project, notably along the Teshierpi Fault Zone, while securing significant funding and completing the divestment of its Great Bear Project.
- High-grade copper intercepts extend over 12 km strike at Rae
- Sediment-hosted copper system at Hulk expands to 6.3 km²
- Great Bear Project divestment yields A$5.8 million total proceeds
- Metallurgical tests confirm >90% copper recovery with simple processing
- Strong cash position of A$8.34 million supports expanded drilling
District-Scale Copper Potential Confirmed at Rae Project
White Cliff Minerals (ASX:WCN) continues to build momentum at its Rae Copper Project in Nunavut, with drilling results confirming a major copper system extending over 12 kilometres along the Teshierpi Fault Zone. The latest assays reveal multiple thick, high-grade copper intercepts at Danvers, including a standout 19.81 metres grading 6.64% copper with intervals soaring above 20% copper, the highest recorded to date at the project. Visual copper sulphides have been observed over more than 6 kilometres of strike, underscoring the district-scale potential of this fault-hosted epithermal system.
Diamond drilling has also commenced at the sediment-hosted Hulk and Stark targets, where visible chalcopyrite has been intersected along a key redox boundary, expanding the known mineralised footprint by 3.7 kilometres eastwards and increasing the prospective area to approximately 6.3 square kilometres. This sheet-like copper horizon aligns with major sediment-hosted copper systems globally, suggesting a significant new target emerging within the Rae Group sediments.
Metallurgical Advances De-Risk Processing Pathway
Adding to the project's appeal, metallurgical testwork from Danvers has delivered exceptional results, with copper recoveries exceeding 90% and peaking at 95.4%, alongside silver recoveries above 93%. The tests produced high-grade concentrates of around 40% copper and 150 grams per tonne silver, achieved through conventional flotation without the need for regrinding or complex processing steps. This simplicity promises a low-cost, scalable processing route that could enhance the project's economic viability and attractiveness to potential partners or financiers.
Corporate Moves Strengthen Balance Sheet
During the quarter, White Cliff completed the divestment of its Great Bear Project, receiving A$1.2 million in cash and 230 million shares in Great Bear Exploration Ltd (ASX:GBL) valued at A$4.6 million. Eligible shareholders received approximately 97.6 million GBL shares via an in-specie distribution, with all shares subject to a 24-month escrow period. The divestment, combined with a recent underwritten options conversion raising approximately A$6.5 million, has significantly bolstered White Cliff’s cash reserves to A$8.34 million at quarter-end, positioning the company well to fund its expanded 2026 drilling program.
Share issuance during the quarter included over 433 million ordinary shares from option conversions and 75 million performance rights converted to ordinary shares. Additionally, 9 million performance rights were granted to director Sara Kelly following shareholder approval, reflecting ongoing incentives aligned with exploration progress.
Exploration Outlook and Upcoming Catalysts
White Cliff’s drilling campaign remains highly active, with multiple rigs systematically testing more than 12 kilometres of prospective strike guided by 2025 geophysical datasets. The company aims to complete regional testing of the entire strike length by the end of July, with assays pending for recent diamond holes at Hulk and Danvers. The first diamond drill hole results at Danvers 1, released post-quarter, returned 50.9 metres at 2.81% copper including high-grade intervals up to 10.93% copper, validating the geological model and guiding future step-out drilling.
With a cash runway estimated to cover over three quarters of operations at current burn rates, White Cliff is well positioned to advance its Rae Copper Project through exploration and resource definition phases. The combination of expanding mineralisation footprints, excellent metallurgical recoveries, and a strengthened balance sheet sets the stage for continued news flow and potential value re-rating as the company de-risks its copper assets.
Bottom Line?
White Cliff’s latest drilling and metallurgical results, coupled with a strengthened balance sheet, lay a solid foundation for scaling its Rae Copper Project, but assay confirmations and resource upgrades will be key milestones to watch.
Questions in the middle?
- Will ongoing drilling confirm continuity and scale sufficient for a JORC-compliant resource at Danvers?
- Can White Cliff translate metallurgical success into a definitive processing flowsheet and cost estimates?
- How will the market respond once the 24-month escrow on Great Bear shares expires?