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White Cliff Minerals gets full allocation of explorer tax credits

Published: 19:07 01 Jul 2018 EDT

Project map in Western Australia
Assays are pending from both the Coglia Well and Coronation Dam projects

White Cliff Minerals Ltd (ASX:WCN) has received the full allocation of its tax credits valued at $550,000 as under the ATO’s Junior Minerals Exploration Incentive (JMEI) scheme.

Some or all of these credits may be distributed to eligible White Cliff shareholders as a tax offset or franking credit in the 2019 financial year.

To be eligible, shareholders must participate in fundraising activities during the 2019 financial year.

READ: White Cliff Minerals reveals more cobalt and nickel from drilling at Coglia Well

Most recently, White Cliff received encouraging drilling results from its 100%-owned Coglia Well cobalt-nickel project near Laverton in the Western Australian goldfields.

Significant cobalt-nickel mineralisation has been identified in several consecutive holes extending across a width of 800 metres, with assay results including:

• 17 metres at 0.11% cobalt and 1.01% nickel from 78 metres;
• 10 metres at 0.04% cobalt and 0.3% nickel from 43 metres; and
• 16 metres at 0.04% cobalt and 0.3% nickel from 45 metres.

Building towards a JORC resource

During the June quarter, White Cliff completed a 3,000-metre and 5,000-metre reverse circulation drill programs at the Coglia Well and Coronation Dam projects.

Both projects are targeting cobalt-nickel and are located in Western Australia.

White Cliff’s focus is on drilling to define JORC cobalt-nickel mineral resources.

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