Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Chase Mining has completed its diamond drill program at the high-grade nickel-copper Alotta Prospect in Canada
  • Just announced assay results found two holes intersected massive and net textured sulphide mineralisation
  • Overall five of the seven completed holes contained significant zones of massive sulphide mineralisation
  • Logging, core-cutting and sampling has been completed and 206 samples have been dispatched
  • Results are expected within 4 to 5 weeks
  • Chase Mining is down 7.41 per cents, with shares trading for 2.5 cents each

Chase Mining has successfully completed its diamond drill program at the high-grade nickel-copper Alotta Prospect in Canada.

The program included seven drill holes for a total of 705 metres. Drilling targeted extensions to known mineralisation within the nickel-copper wireframe, testing the interpreted Alotta Deeps position, and the potential WNW extension of the main mineralised zone.

Chase Mining commenced this program late last month and saw its share price soar 51 per cent on October 30, following the announcement of the program.

On November 1, the company successfully extended and intersected massive sulphides in holes ZA-19-03, ZA-19-04, and ZA-19-05.

Hole ZA-19-06 targeted a strong DHEM (Downhole Electromagnetic) anomaly returned from the survey of deepened hole ZA-18-01 between 60 and 80 metres downhole.

The hole intersected 5 metres of massive sulphide from 65 to 70 metres comprising 95 per cent pyrrhotite and 5 per cent chalcopyrite.

ZA-19-07 targeted the shallow along strike WNW extension of mineralisation intersected during a program last year. The hole intersected a zone of weak pyrite mineralised gabbro from 57 to 66 metres downhole.

Once final data is available, the intercept may represent an extension to the mineralisation intersected in ZA-19-02.

ZA-19-08 was drilled to verify the 24.17 metre-wide zone of mineralisation at 1.23 per cent nickel and 2.31 per cent copper.

The hole intersected 24.4 metres of massive and net textured sulphide mineralisation 55.5 metres downhole, which included two massive sulphide intercepts.

Net-texture sulphide mineralised gabbro was intersected from 64.5 to 79.9 metres with feldspar porphyry to the end of hole at 100 metres.

Holes ZA-19-06 and ZA-19-08 met their objectives and the company will await the assays from this drill program before planning further exploration at Alotta early next year.

Additionally, geological logging, core-cutting and sampling has been completed and a total of 206 samples have been dispatched to ALS in Sudbury for assaying.

Results are expected within four to five weeks and will be reported once all QA/QC procedures have been finalised.

Chase Mining is down 7.41 per cents, with shares trading for 2.5 cents each at market close.

CML by the numbers
More From The Market Herald

" Paterson Resources (ASX:PSL) accelerates exploration at WA & NSW projects

Paterson Resources (ASX:PSL) has accelerated exploration across its West Australian and New South Wales projects.

" St George Mining (ASX:SGQ) moves to diamond drilling at Paterson

St George Mining (SGQ) has kicked off diamond drilling at its Paterson project in the Pilbara region of Western Australia.
The Market Herald Video

" Maximus Resources (ASX:MXR) continues high-grade gold finds at Wattle Dam

Maximus Resources (ASX:MXR) has continued its high-grade gold finds at the Wattle Dam project in Western…
The Market Herald Video

" Marmota (ASX:MEU) expands Aurora Tank drilling program

Marmota (ASX:MEU) expands its drilling program at the Aurora Tank gold project in South Australia.