White Cliff Minerals Limited (ASX: WCN), a mineral exploration company focused on discovering and developing resources, today announced its quarterly activities and cashflow report for the quarter ended 30 June 2025. A key highlight was the confirmation of high-grade mineralisation at the Danvers project through assay results. The company’s strategy to explore previously untested high-grade zones and the vertical depth extension of mineralisation has been validated. All drillholes intercepted significant mineralisation, with notable intercepts including 52m @ 1.16% Cu & 3.43g/t Ag from surface in DAN25001, and 175m @ 2.5% Cu & 8.66g/t Ag from 7.6m in DAN25008.
The drilling team has remobilised to the site at the end of June 2025 to commence follow-up drilling at Danvers, as well as regional exploration drilling. The focus will be on testing for mineralisation along approximately 10km of prospective structure. Drilling will be designed as ‘step out’ to determine mineralisation boundaries, which are open in all directions.
In corporate news, White Cliff Minerals successfully raised A$12.4 million through the issue of 307,692,321 shares at A$0.0403 utilising the ‘flow-through shares’ provisions under Canadian tax law. A concurrent share placement at A$0.026 to new and existing sophisticated and professional investors raised an additional A$2 million. Shares of the company have also commenced trading on the OTCQB Venture Market in the United States under the ticker code WCMLF. Furthermore, Mr. John Hancock will join the Board of White Cliff Minerals from 1 August 2025, with his family office, Astrotricha Capital SEZC, also engaged in an advisory mandate.
As of 30 June 2025, White Cliff Minerals reported a cash and cash equivalent position of approximately $14.51 million. During the quarter, the company spent $3.08 million on exploration and evaluation of projects, and $376k on administration and corporate costs. The company has received the first tranche of $200k payment of cash consideration from the sale of the Reedy South Gold Project. The remaining $1m will be paid to the Company in two equal tranches.
