- Chalice Gold Mines (CHN) has received significant new results from drilling and historical sampling at its Julimar Nickel-Copper-PGE Project in WA
- Following the discovery of high-grade mineralisation in mid-March, a total of 15 holes have now been drilled at the Gonneville Intrusive at the project
- Significant results include 0.58 grammes per tonne palladium, 0.14 grammes per tonne platinum, 0.17 per cent nickel, and 0.1 per cent copper
- These results confirm the presence of widespread PGE mineralisation at surface
- Following this, the company is now planning a wide range of works which include diamond drilling, down-hole electromagnetic drilling, and RC drilling
- Chalice Gold is down a slight 1.6 per cent on the market this morning and shares are trading for $1.23 each
Chalice Gold Mines (CHN) has received significant new results from drilling and historical sampling at its Julimar Nickel-Copper-PGE Project.
The Julimar Project is located approximately 70 kilometres northeast of Perth in Western Australia.
Following the discovery of high-grade mineralisation in mid-March, approximately 12 reverse circulation (RC) and three diamond holes have now been drilled at the Gonneville Intrusive at Julimar.
Chalice Gold has now received all results from the RC drilling but results from the diamond drilling remain pending.
Three new RC holes, JRC010 to JRC012, have been drilled at the northern and southern end of the Gonneville Intrusive and all have intersected wide intervals of PGE (platinum group element) mineralisation.
These intersections have confirmed the widespread nature of mineralisation within the intrusive.
Hole JRC010, tested beneath a nickel-copper soil anomaly and intersected two wide zones of PGE mineralisation associated with dispersed sulphides.
Significant results include 137 metres at 0.57g/t palladium, 0.14g/t platinum, 0.14 per cent nickel, and 0.10 per cent copper from 58 metres, and 97 metres at 0.58g/t palladium, 0.12g/t platinum, 0.13 per cent nickel, and 0.07 per cent copper from 201 metres.
The other two holes, JRC011 and JRC012, intersected shallow oxide PGE mineralisation.
Results include 113 metres at 0.45g/t palladium, 0.12g/t platinum, 0.17 per cent nickel, and 0.05 per cent copper from 29 metres.
Results for all three of these holes are similar to previously drilled holes which include broad zones of PGE mineralisation.
“Wide-spaced PGE drilling at Gonneville continues to deliver impressive PGE intersections,” Managing Director Alex Dorsch commented.
“These new wide zones, along with the previously reported zones that have been encountered in every hole drilled to date, point to a large-scale discovery at Gonneville and highlight the prospectivity of this fertile mafic-ultramafic complex,” he said.
Chalice Gold’s recently completed geochemical survey provides important indications of prospectivity for nickel-copper-PGE’s within the yet to be accessed State Forest area that lies north of Gonneville.
One target area returned 1800ppm (parts per million) nickel and 1350ppm copper, which has shown that this sampling was effective in identifying a surface expression of bedrock mineralisation.
A second area, located 10 kilometres northeast of Gonneville, returned results of 5300ppm nickel and 245ppm copper, however, these are considered anomalous and suggest the presence of ultramafic rocks in the area.
“Recent compilation of limited historical surface sampling results has highlighted significant areas of anomalous nickel, copper and palladium approximately seven to 10 kilometres northeast of the Gonneville nickel-copper-PGE discovery,” Alex said.
“This is exciting and suggests more widespread mineralisation associated with the complex, and hints at the magnitude of the exploration opportunity in front of us,” he added.
Chalice Gold is now planning a wide array of works which include diamond drilling, down-hole electromagnetic drilling, and RC drilling.
The company will also continue monitoring advice from the Government and health authorities surrounding COVID-19.
Chalice Gold is down a slight 1.6 per cent on the market this morning and shares are trading for $1.23 each at 10:39 am AEST.