Chalice Gold Mines (ASX:CHN) - Managing Director, Alex Dorsch
Managing Director, Alex Dorsch
Source: 121 Mining Investment Events
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  • Chalice Gold Mines (CHN) has discovered high-grade nickel-copper-platinum group elements (PGE) within its Julimar Project in Western Australia
  • These results come from two diamond holes drilled within the Gonneville Intrusive discovery zone
  • JD002 displayed consistent high-grade mineralisation and massive sulphides from surface
  • While hole JD001 failed to intersect massive sulphide mineralisation, it intersected several high-grade zones of PGEs
  • Diamond drilling and surveys to target further high-grade zones are going
  • Chalice will also shortly commence a 20,000-metre phase two drilling program to test the extent of the Intrusive and to test the southern end for high-grade targets
  • Chalice is up a slight 0.43 per cent, with shares trading for $1.16 each

Chalice Gold Mines (CHN) has reported positive results from drilling at its Julimar Project, which is located 70 kilometres north-east of Perth in Western Australia.

The Julimar Nickel-Copper-Platinum Group Element (PGE) Project covers the entire 26 kilometre-long Julimar Intrusive Complex. Roughly 24 kilometres of this complex is yet to be explored.

The second diamond drill hole (JD002) at the Gonneville Intrusive was drilled to intersect the high-grade nickel-copper-cobalt-PGE discovery zone, in JRC001, at a low angle to confirm the interpreted westerly dip of the high-grade mineralisation.

The hole was drilled sub-parallel to the zone and intercept lengths are not true widths and the true width of the zone is yet to be confirmed.

All results have been received for hole JD002 and all show consistent high-grade nickel-copper-cobalt-PGE mineralisation from surface to a depth of 101 metres downhole, in both oxide and fresh rock.

Best results include 75.1 metres at 6.2g/t palladium, 1.7g/t platinum, 1.7 per cent nickel, 0.7 per cent copper and 0.10 per cent cobalt from 34.9 metres, including: 9.8 metres at 7.0g/t palladium, 0.8g/t platinum, 3.3 per cent nickel, 1.2 per cent copper, 0.18 per cent cobalt from 34.9 metres; 20.4 metres at 11.1g/t palladium, 1.1g/t platinum, 3.1 per cent nickel, 1.0 per cent copper, 0.16 per cent cobalt from 47.7 metres, and 33 metres at 5.1g/t palladium, 3.0g/t platinum, one per cent nickel, 0.6 per cent copper and 0.06 per cent cobalt from 68.0 metres.

JD001, which was drilled 40 metres down-dip of JRC001, failed to intersect massive sulphide mineralisation, which Chalice thinks is potentially due to a barren cross-cutting dyke.

However, assays have confirmed that JD001 intersected several high-grade PGE zones in matrix and disseminated sulphides, separated by the dyke, as well as several broad zones of PGE in disseminated sulphides.

The discovery zone remains open at depth and further drilling is required to determine its true dip extent.

Chalice plans to conduct further diamond drilling to test for extensions of the high-grade discovery zone, both at depth and along strike.

Additionally, initial petrographic and scanning electron microscope (SEM) analysis undertaken on selective samples of massive and matrix sulphide mineralisation in JD002 identified various PGE minerals mostly hosted in pyrrhotite.

This suggests the PGEs within unoxidised mineralisation may be recoverable through flotation processing. However, this needs to be confirmed through metallurgical test work.

Diamond drilling, downhole electromagnetic surveys and Superconducting QUantum Interference Detector (SQUID) surveys are continuing to test high-grade nickel-copper-PGE zones.

Furthermore, Chalice Gold Mines will soon commence a 20,000-metre phase two reverse circulation drilling program at the Gonneville Intrusive to discover the extent of the intrusive on a 200-metre by 80-metre grid pattern, as well to test new, high-grade targets at the southern end of the Intrusive.

Chalice is up a slight 0.43 per cent, with shares trading for $1.16 each at 10:45 am AEST.

CHN by the numbers
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