Chalice Mining (ASX:CHN) - Managing Director, Alex Dorsch
Managing Director, Alex Dorsch
Source: Hot Copper
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Chalice Gold Mines (CHN) has identified a new 6.5-kilometre-long electromagnetic (EM) anomaly at its Julimar Project in WA
  • This anomaly is one of three discovered via a recent airborne EM survey which aimed to test for conductors within and surrounding the Julimar State Forest
  • However, final results from all anomalies are yet to be received, so it is possible that more may be identified
  • The company is now awaiting feedback regarding access to the State Forest for the next stage of exploration activities
  • Chalice is up a healthy 18.3 per cent this morning and shares are trading for $2.07 each

Chalice Gold Mines (CHN) has identified a new 6.5-kilometre-long electromagnetic (EM) anomaly at its Julimar Project in WA.

This anomaly is one of three discovered via a recent airborne EM survey that aimed to test for conductors within and surrounding the Julimar State Forest.

The anomalies are known as Hartog, Baudin and Jansz.

Hartog

The Hartog anomaly spans 6.5 kilometres and lies directly north from the Gonneville intrusion, where a significant nickel-copper-cobalt-PGE (platinum group element) discovery was identified in March.

The peak airborne electromagnetic (AEM) response at Hartog is significantly higher than the peak AEM response at Gonneville, indicating a potentially shallow, large conductive body that may represent sulphide mineralisation.

Baudin

The Baudin anomaly lies roughly 10 kilometres northeast of Gonneville.

The area has been sampled with strongly anomalous nickel-copper-palladium mineralisation identified.

Jansz

The Jansz anomaly lies 18 kilometres northeast of Gonneville and is visible, potentially indicating surface responses.

However, final results from all anomalies are yet to be received, so it is possible that more may be identified.

“We have speculated for some time that the area north of our recent Gonneville discovery is highly prospective,” Managing Director Alex Dorsch commented.

“We have now supported that claim with major new, laterally extensive geophysical targets from the first airborne EM survey over the company’s granted tenure, which is a very exciting and important development,” he said.

“We are expecting initial feedback shortly regarding access to the State Forest for the next stage of reconnaissance exploration activities. We are hopeful of being able to assess the compelling new anomalies and aim to expand Julimar into a district-scale, multi-discovery opportunity,” he added.

Chalice is up a healthy 18.3 per cent this morning and shares are trading for $2.07 each at 10:23 am AEST.

CHN by the numbers
More From The Market Online

Sierra Rutile rejects takeover bid from PRM Services again

Sierra Rutile has urged its shareholders for a second time to reject a takeover offer from…

Terra Uranium picks up prime 15M-pound deposit in Canada

Terra Uranium has bolstered its Canadian portfolio by acquiring the Amer Lake deposit in Nunavut, which…
The Market Online Video

Lithium Universe locks in shipping port location for lithium spodumene imports

Lithium Universe (ASX:LU7) has locked in a maritime port through which it can receive shipments of…

AIC raises ore reserve estimates by 86% copper and gold at QLD’s Jericho

AIC Mines has updated its ore reserve estimate at the Jericho deposit in north Queensland showing…