New drilling results for Chalice Mining Limited (ASX: CHN) have confirmed the interpreted extension of the Gonneville Intrusion at the Julimar Ni-Cu- PGE Project in Western Australia, validating the results of the recent 2D seismic survey.
Exploration activities are continuing across the exciting >30km long Julimar Complex, with four diamond drill rigs currently drilling across the 10km long Hartog-Baudin strike length and two rigs continuing resource definition drilling at the Gonneville PGE-Ni-Cu-Co-Au Deposit – current Resource of 350Mt @ 0.96g/t 3E, 0.16% Ni, 0.10% Cu, 0.015% Co (~0.58% NiEq or ~1.8g/t PdEq).
Drilling to date supports the interpretation of the Gonneville Intrusion (and Julimar mafic-ultramafic Complex) as having a rare chonolith-like geometry, which is similar to other major ultramafic-mafic orthomagmatic systems worldwide that host significant nickel-copper+/-PGE deposits, including Norilsk-Talnakh, Kabanga and Jinchuan.
Chalice recently made an important breakthrough in exploration at the project, with the previously elusive northern extension of the Gonneville Intrusion interpreted at depth in an effective 2D seismic survey.
Previous drilling in this area (at the Hartog Prospect) had failed to intersect the prospective mafic- ultramafic horizon, which drilling has now confirmed to be faulted ~650m to the west-north-west.
This new Hartog segment of the Julimar Complex can now be targeted with follow-up drilling, providing a substantial pathway for growth in the Resource, which remains open along strike and at depth.
Drilling further north has now confirmed the Gonneville Resource, discovered in early 2020 on Chalice-owned farmland, is just a small part of the Julimar Complex. The complex is a very large mineralised system, which Chalice believes is capable of hosting multiple discrete Ni-Cu-PGE deposits, as evidenced by multiple sulphide drill intersections in wide-spaced drilling to date over ~10km of strike length.
Exploration is continuing rapidly on broad spacing along the complex, targeting new high-grade Ni- Cu-PGE sulphide deposits which could add considerable value to a Gonneville mine, or potentially warrant a separate mine development. It is also possible that different styles of mineralisation could be intersected along the complex, potentially contributing to significant long-term value-creation that a world-class mineral district can create.
Given the considerable scale of the project, Chalice is considering securing a strategic minority joint venture partner (or partners) with the technical expertise, market familiarity and financial strength to assist in developing a potential mine at Gonneville.
Several large international trading houses, downstream battery and auto manufacturers have expressed interest to date, with the recent Inflation Reduction Act bill in the United States resulting in a significant increase in inbound interest in Julimar’s large nickel sulphide endowment.
At this stage, discussions with potential partners are preliminary in nature and the Company is focused on delivering the Scoping Study for a Gonneville mine development in late 2022.
The following activities are continuing at the project:
« Resource definition and extensional diamond drilling at Gonneville with two drill rigs.
« Detailed infill RC Resource definition drilling over a small area of the Gonneville Resource to improve the understanding of the short-range variability and continuity of higher-grade zones.
« Reconnaissance diamond drilling across the Hartog, Hooley and Dampier prospects (target areas across ~10km of Julimar Complex strike length) with three rigs, under the approved CMP.
« Reconnaissance diamond drilling at the Baudin Target, ~11km north of Gonneville, drilling from proximal areas of farmland as part of the DMIRS Exploration Incentive Scheme (EIS).
« Moving Loop Electromagnetic (MLEM) and Down-hole EM (DHEM) surveys across the Julimar Complex, with further seismic surveying also planned.
« Access discussions for the Bindoon Training Area which covers the high-priority Flinders Target, ~25km NE of Gonneville.
« Mine development studies to support a Scoping Study for a Gonneville mine, on track for completion in late 2022.
« Baseline surveys of ground water, surface water, flora, fauna and dieback are underway, as part of a long-term baseline and monitoring programme to support engineering studies and environmental assessments.
For further information please visit: https://www.chalicemining.com/
