Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Chalice Mining (CHN) intersects a new nickel-copper-platinum group element sulphide zone at the Dampier target within its Julimar project in WA
  • Drilling intersected the zone across a strike length of around 350 metres and over 150 metres of dip extent and it remains open in all directions
  • Chalice says the initial drill testing has returned “exciting” early visual results, with one of the holes intersecting a 4.2-metre-wide zone of heavily disseminated to matrix sulphides
  • To date, 13 of the planned 70 sites have been drilled at the Hartog and Dampier targets, with several high-priority targets still yet to be tested
  • On the market, CHN shares were up 9.07 per cent and trading at $4.09 each at 11:37 am AEST

Chalice Mining (CHN) has intersected a new nickel-copper-platinum group element sulphide zone in initial drilling at the Dampier target within its Julimar project in WA.

The new zone has been intersected across a strike length of around 350 metres and over 150 metres of dip extent and remains open in all directions.

The company said initial diamond drill testing has seen “exciting” early visual results, with one of the three drill holes, HD013, having intersected a 4.2-metre-wide zone of heavily disseminated to matrix sulphides.

According to Chalice, this is the first significant indication of orthomagmatic sulphide mineralisation outside the Gonneville Deposit.

Drill hole, HD010, intersected a 50-metre-wide interval of weakly disseminated sulphides from 456 metres containing minor zones of matrix sulphides.

Additionally, down-hole electromagnetic survey work HD009 and HD010 has shown the presence of off-hole conductors in both holes which correlate with the heavily disseminated/matrix zone intersected in HD013.

To date, 13 of the planned 70 sites have been drilled at the Hartog and Dampier targets, with several high-priority targets still yet to be tested. Chalice has four drill rigs currently operating.

Assays for the three new holes at Dampier are expected within six weeks.

The next major milestones for Julimar includes the Gonneville mineral resource estimate and the Gonneville scoping study, which is targeted for the current September quarter.

On the market, CHN shares were up 9.07 per cent and trading at $4.09 each at 11:37 am AEST.

CHN by the numbers
More From The Market Herald
Petratherm (ASX:PTR) - Exploration Managing, Peter Reid

" Petratherm (ASX:PTR) wins bid for Muckanippie REE project, SA

Petratherm (ASX:PTR) has been successful through a competitive bid process to be the preferred application for…
The Market Herald Video

" Metgasco (ASX:MEL) flags $5.9m buyout of Patriot Hydrogen

Metgasco (ASX:MEL) is set to purchase waste-to-hydrogen production business Patriot Hydrogen for $5.9 million as part…
Mt Monger Resources (ASX:MTM) - Managing Director, Lachlan Reynolds

" Mt Monger Resources (ASX:MTM) intersects broad REE mineralisation at Pt Kidman

Mt Monger Resources (ASX:MTM) has intersected broad rare earth element (REE) mineralisation at the Pt Kidman…

" Invex Therapeutics (ASX:IXC) receives FDA approval for third-phase Presendin clinical trial

Invex Therapeutics (ASX:IXC) has been given the tick of approval in the US for the development…