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Highlights:
White Cliff Minerals acquires the Victoria Copper exploration licence, expanding its copper portfolio in the Nunavut province.
The acquisition includes the high-grade Danvers copper deposit, with a historical resource estimate of 4.16 million tonnes at 2.96% copper.
The company plans fast-tracked verification drilling in 2025 to expand its copper resource base and strengthen its landholding in the region.
White Cliff Minerals (ASX:WCN) has expanded its Canadian copper portfolio with the acquisition of the Victoria Copper exploration licence, situated in the same region as its Rae copper project in Nunavut. This acquisition adds the Danvers copper deposit to White Cliff's assets, which includes a historical resource estimate of 4.16 million tonnes at 2.96% copper.
Managing Director Troy Whittaker emphasized the significance of the historical copper-silver drilling results, which played a key role in the acquisition decision. The company believes that the licence area holds additional mineralization potential beyond the Danvers deposit. Other promising targets include Hulk, Stark, Thor, Rocket, and Vision, with high-grade copper prospects across a broad area.
The acquisition of the Victoria Copper exploration licence enhances White Cliff's already dominant landholding in the region. The licence is open along strike and at depth, and the company plans to conduct confirmation drilling and other verification work as part of its 2025 program at the Rae project. White Cliff is preparing for drilling activities in 2025, with all targets identified and prioritized for the upcoming program.
A binding agreement has been executed for the acquisition, with White Cliff agreeing to a consideration of approximately $192,000, with further payments structured over the next 12 months. The agreement includes a 1% net smelter royalty to the seller on any minerals produced from the licence area.
In addition to the acquisition, White Cliff has made progress with its Rae copper project. Recent geophysical surveys have identified new high-conductivity targets, including the Stark and Hulk West targets. The company is advancing towards further exploration and field verification to expand its understanding of the copper mineralization potential in the region.
