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- Chalice Mining (CHN) delivers an updated mineral resource estimate (MRE) for the Gonneville deposit within its ‘world-class’ Julimar project in WA
- Gonneville’s MRE stands at 350 million tonnes at 0.96 grams g/t 3E, 0.16 per cent nickel, 0.1 per cent copper and 0.015 per cent cobalt
- Recent drilling has also successfully increased the indicated portion of the Gonneville resource from 45 to 70 per cent, which will support a scoping study nearing completion
- Chalice is continuing to drill across Julimar with two rigs at Gonneville and four rigs are currently drilling the Hartog and Dampier targets to the north of the resource
- CHN shares are up up 0.75 per cent to trade at $4.03 at 11:04 am AEST
Chalice Mining (CHN) has updated the mineral resource estimate (MRE) for the Gonneville deposit within its ‘world-class’ Julimar project in Western Australia.
Gonneville has an MRE of 350 million tonnes at 0.96 grams per tonne (g/t) platinum, palladium and gold (3E), 0.16 per cent nickel, 0.1 per cent copper and 0.015 per cent cobalt.
The deposit also contains 11 million ounces of 3E, 560,000 tonnes of nickel, 360,000 tonnes of copper, and 54,000 tonnes of cobalt.
Chalice announced a maiden MRE for the Gonneville deposit, the first discovery at its Julimar project, in November last year.
Since then, the company has undertaken shallow infill drilling to upgrade the Gonneville resource from the inferred category to indicated. Positively, the proportion of the indicated resources has now increased from 45 per cent to 70 per cent of the MRE total.
The resource remains open to the north along strike and at depth and Chalice Mining believes there’s potential for further material growth.
Managing Director and CEO Alex Dorsch said work completed since the maiden MRE has continued to demonstrate the “world-class endowment, scale and quality” of the Gonneville deposit.
“Apart from further increasing the contained metal, this resource update has resulted in a significant increase in the higher-confidence indicated resource – which now represents 70 per cent of the total. Importantly, 90 per cent of the resource above a depth of 250 metres is now classified as Indicated, which represents a major de-risking step for the project,” he said.
The indicated component of the MRE will support a scoping study for the Gonneville deposit which is reportedly progressing well and expected to be completed in the current quarter.
Further, drilling is continuing across Julimar with two rigs conducting step-out drilling down-plunge at Gonneville and four rigs are currently drilling along strike to the north of the resource at the Hartog and Dampier targets.
The company recently saw encouraging sulphide intersections at the Dampier target which highlighted the potential for additional nickel-copper-platinum group element discoveries along the 30-kilometre-long Julimar Complex.
CHN shares were up 0.75 per cent to trade at $4.03 at 11:04 am AEST.
