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Chalice Gold Mines (ASX:CHN) - Managing Director, Alex Dorsch
Managing Director, Alex Dorsch
Source: 121 Mining Investment Events
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  • Chalice Mining (CHN) has identified multiple highly prospective electromagnetic (EM) conductors at the Hartog Target in WA
  • A recently completed moving loop electromagnetic (MLEM) survey along Hartog identified 29 low to moderate EM conductors
  • Chalice believes these are potentially significant nickel-copper-PGE targets, similar to those at its Gonneville discovery
  • Soil sampling was also undertaken to assess and prioritise MLEM conductors with work identifying substantial areas of moderately anomalous nickel, copper and palladium anomalies
  • Chalice is now undertaking further surveying to expand and infill the geophysical coverage and identify drill-ready targets
  • Once completed, the company will undertake first-pass drill testing in Q3 2021
  • Chalice is up 4.35 per cent on the market this morning and shares are trading at $4.92

Chalice Mining (CHN) has identified multiple highly prospective electromagnetic (EM) conductors at the Hartog Target.

Hartog is part of the company’s Julimar nickel-copper-PGE (platinum group element) Project, which lies roughly 70 kilometres northeast of Perth.

A recently completed moving loop electromagnetic (MLEM) survey along Hartog identified 29 low to moderate EM conductors.

Chalice believes these are potentially significant nickel-copper-PGE targets, similar to those at its Gonneville discovery.

The majority of these targets lie to the north and northeast of the main corridor and appear to define a new trend of mineralisation.

Soil sampling was also undertaken to assess and prioritise MLEM conductors.

This work outlined substantial areas of moderately anomalous nickel, copper and palladium anomalies, coincident and near the new MLEM conductors.

A strong chrome anomaly was also identified, grading more than 700 parts per million (ppm).

Based on the results from the MLEM survey, Chalice is undertaking additional surveying to expand and infill the geophysical coverage.

The aim of this is to identify drill-ready targets with work set to wrap up by mid-April.

Once targets have been identified, Chalice will begin first-pass drill testing in Q3 2021 after it receives approval.

Additionally, first-pass soil sampling is also underway to the north of Hartog, where historical sampling identified nickel, copper and palladium anomalisms.

“Initial reconnaissance exploration activities along the Julimar Complex to the north of our Gonneville discovery have identified exciting results, with a significant number of EM-soil targets already defined at the highest priority Hartog Target,” Managing Director Alex Dorsch said.

“The identification of discrete EM conductors together with extensive nickel-copper soil anomalies highlights the significant potential of this area to deliver further growth at Julimar directly along strike to the north of where we have a major resource drill-out underway,” he added.

Chalice is up 4.35 per cent on the market this morning and shares are trading at $4.92 at 10:41 am AEDT.

CHN by the numbers
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