Chalice Mining Limited (ASX: CHN) has made a significant new discovery at its 100%-owned Julimar Nickel-Copper-Platinum Group Element (PGE) Project, located ~70km north-east of Perth in Western Australia.
Step-out drilling at the north-western limit of the Gonneville deposit has intersected a new shallow zone of high-grade sulphide mineralisation.
The mineralisation occurs within a newly identified narrow ultramafic unit located approximately 70m above the hanging wall contact between the Gonneville Intrusion and the surrounding meta-sediments.
Managing Director and CEO, Alex Dorsch, said this discovery is considered significant because the new zone is located immediately south of the ~6.5km long Hartog AEM anomaly (within the Julimar State Forest).
In addition, it confirms that there are other mineralised intrusions in the area that have no EM response. As such, it is interpreted that the Hartog AEM anomaly may stem from the northern extension of this mineralised zone, which in turn may represent the very southern extent of an entirely new intrusion (Hartog).
Chalice’s Conservation Management Plan for initial drilling at the Hartog-Baudin Targets within the Julimar State Forest (Stage 2 CMP) has been finalised and is currently under consideration by the WA State Government.
Approval is expected shortly, which will allow the first ever drilling across ~10km of strike length of the Julimar Complex.
While CMP approval is awaited, Chalice has been continuing step-out and infill drilling at the Gonneville deposit with six rigs. A total of 225 diamond drill holes and 460 RC drill holes (including RC pre-collars with diamond tails) for ~180,000m have been completed to date at the Project.
New assay results have been received for 129 holes, which were not included in the Gonneville maiden Mineral Resource Estimate (Resource) of 330Mt @ 0.94g/t Pd+Pt+Au (3E), 0.16% Ni, 0.10% Cu, 0.016% Co.
Assay results are pending for a further 66 completed drill holes, with lab turnaround times currently averaging approximately four weeks.
New assay results have been received for drilling targeting: « The eastern (footwall) and western (hanging wall) contacts between the Gonneville Intrusion and surrounding meta-sediments; « Infill and down-dip extensions to the high-grade G1-G9 zones;
* Infill of the shallow Inferred sections of the Gonneville Resource; and,
* The non-magnetic pyroxenite and leucogabbro-rich north-western part of the Gonneville Intrusion.
“Extensional drilling in an area previously considered to consist only of metasediments has intersected a tantalising new shallow zone of sulphide mineralisation, which is interpreted to be the potential southern extent of a new Hartog zone,” Mr Dorsch said.
“The moderate nickel, copper and cobalt grades observed are considered particularly encouraging. We believe that the new ultramafic unit intersected is very unlikely to be Gonneville, given that it is separated by ~70m of metasediments and appears to be highly deformed and geochemically different. The new discovery has once again upgraded the prospectivity of the >6.5km long Hartog target immediately north of the new intersections.
“After lengthy consultation with the WA State Government, we believe our low-impact approach to initial drilling in the State Forest is close to being approved. We have received positive feedback on our approach to minimising disturbance and we are eagerly awaiting final approvals for drilling to commence at this exciting new frontier.
For further information please visit: https://www.chalicemining.com/
