Connect with us

Hi, what are you looking for?

Money And WelfareMoney And Welfare

Investing News

License Approvals Received from North-West Territories Regulator for Radium Point Project

White Cliff Minerals Limited (White Cliff or the Company) is pleased to advise that applications lodged by the Company in Q4 2023 to the Northwest Territories Mining Recorder Office over the Radium Point exploration areas have now been granted.

Highlights of the Radium Point Project area include:

The Eldorado mine was Canadas largest uranium mine between 1930-1960Historical production (pre-1982) within the Project area totalled:13,700,000lbs Uranium oxide (“U3O8”),34,200,000oz refined silver,11,377,040 lbs of copper with gold credits,104,000kg lead, 127,000kg Nickel & 227,000kg Cobalt.The Radium Point Project area has been identified by the Northwest Territories (“NWT”) Geoscience Office as having the highest potential for large scale Iron Oxide Copper Gold & Uranium style mineralisation in Canada.Mineral exploration in the region has been minimal since uranium production ceased in the 1960s and silver and copper mining halted in the early 1980s.White Cliff is now the single largest holder of mineral exploration claims and licenses in the Northwest Territories.Work will focus on former mined areas for extensions to previously exploited mineral bodies as well as known outcropping prospects throughout the license area through air and ground geophysics, rock chip sampling on previously identified outcropping high-grade uranium mineralisation, and confirmation testing of larger geochemically anomalous areas throughout the broader Project area in preparation for drilling. The Company anticipates being able to update shareholders on these upcoming work programmes that are currently being devised with its consultants over the high priority targets in the near future.

This approval marks another major step in the permitting process and allows the Company to now appoint contractors for 2024 exploration activities and complete the logistical planning phase.

The Company will update shareholders shortly on the appointment of contractors for airborne sensing and data gathering, detailed mapping, and sampling activities to identify areas for further detailed study within the licence area.

Commenting on the licence approvals, White Cliff Chairman, Roderick McIllree said:

‘With the granting of these licences, we are now finalising contractor selection and anticipate commencing exploration activities in Q2 2024.

The Radium point programme will run in close collaboration with planned work at Coppermine, the company’s recently granted district scale copper project. In some instances, White Cliff will use the same contractors, with geophysical programmes culminating in extensive drilling on outcropping areas identified throughout this large-scale mineralised area over time.

While focus will move to finalising operational aspects of the upcoming exploration programme the Company will also continue to work closely with local communities, indigenous groups and other stakeholders to ensure activities align with community expectations and these considerations are actively integrated into all activities.”

About The Project1

The Radium Point Project in the Echo Bay district of the northern Great Bear magmatic zone (GBMZ) and comprises an extensively hydrothermally altered and mineralised Proterozoic continental andesitic stratovolcano-plutonic complex.

The known uranium, copper and gold occurrences are associated with epithermal veins, with historical production recorded from multiple historical mines of varying sizes, the two most significant being the Eldorado/Echo Bay mine and the Contact Lake Mine. After Uranium production ended (Contact Lake 1939 and Eldorado/Echo Bay 1960), the area became a silver and copper producer between 1964 and 1982 when processing ceased.

Exploration History and Project Information

Historical work undertaken before 1985 by multiple public institutions and private companies over Radium Point demonstrates widespread undrilled mineralisation expressed at surface.

Various regional airborne surveys have been completed, which will be used to guide initial work on the Project along with the information contained within the mass of historical data containing large amounts of drill, soil, rock chip and trench results.

The Company will now work on assimilating these geological, geochemical & geophysical datasets to prepare a systematic and detailed exploration programme for 2024.

Click here for the full ASX Release

This post appeared first on investingnews.com

You May Also Like

Stock News

In this episode of StockCharts TV‘s The Final Bar, Tony Dwyer of Canaccord Genuity talks Fed policy, corporate bond spreads, and why the level of interest...

Stock News

SPX Monitoring Purposes: Long SPX 8/9/23 at 4467.71. Long SPX on 2/6/23 at 4110.98: Sold 6/16/23 at 4409.59 = gain of 7.26%. Gain since...

World News

An hour before the public release of an indictment that alleges the former president of the United States led a criminal conspiracy to overturn...

Investing News

Sage Potash CORP. (TSXV: SAGE) (OTCQB: SGPTF) (‘ Sage Potash ‘ or the ‘ Company ‘) is pleased to announce it has achieved an essential...