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White Cliff Minerals Says First Diamond Drill Hole at Canada Deposit Validates Geological Model; Shares Plunge 11%

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White Cliff Minerals (ASX:WCN) said the first diamond drill hole at Danvers 1 deposit within the Rae copper project in Canada validated the geological model and confirming broad high-grade copper mineralization, according to a Tuesday Australian bourse filing.

It hit an intercept of 50.9 meters at 2.8% grade of copper and 7.7 grams-per-tonne grade of silver from 39.7 meters, the company said. A further 21 diamond drilling assays are pending.

The company's shares fell past 11% in recent trading on Tuesday.

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