Chalice Gold Mines Encounters High-Grade Extensions at Julimar

THE DRILL SERGEANT: Chalice Gold Mines (ASX: CHN) is currently drilling at the company’s 100 per cent-owned Julimar nickel-copper-platinum group element (PGE) project, located just outside Perth in Western Australia.

Chalice Gold Mines has been able to report new results from the ongoing exploration activities, involving five rigs – three Reverse Circulation (RC) and two diamond – that are conducting a step-out and resource definition drill program at the Gonneville Intrusion, where Chalice recently claimed a major high-grade PGE-nickel-copper-cobalt-gold discovery.

To date the program has completed a total of 27 diamond drill holes (including RC pre-collars with diamond tails) and 116 RC drill holes, of which assay results for 18 diamond and 80 RC holes have been reported.

Assay results are pending for a further 45 completed drill holes (6 diamond and 39 RC).

RC drilling on the Gonneville Intrusion demonstrated the footwall contact zone (G4) to extend over 800 metres of strike length and up to 500m of dip extent and the zone remains wide-open and sparsely drilled.

New intersections in the G4 Zone include:

JRC089
50 metres at 1.8 grams per tonne palladium, 0.5g/t platinum, 0.9g/t gold, 0.2 per cent nickel, 1.1 per cent copper, 0.02 per cent cobalt from 112m, including 17m at 2.5g/t palladium, 0.8g/t platinum, 2g/t gold, 0.2 per cent nickel, 1.8 per cent copper from 134m (>1 per cent copper cut-off grade);

JRC088
9m at 1.1g/t palladium, 0.3g/t platinum, 0.2g/t gold, 0.1 per cent nickel, 0.5 per cent copper, 0.01 per cent cobalt from 127m;

JRC063
8m at 3.4g/t palladium, 0.3g/t platinum, 0.2g/t gold, 0.4 per cent nickel, 0.9 per cent copper, 0.03 per cent cobalt from 67m;

JRC064
7m at 13.8g/t palladium, 0.3g/t platinum, 0.5g/t gold, 0.2 per cent nickel, 0.2 per cent copper, 0.02 per cent cobalt from 83m;

JRC070
15m at 1.4g/t palladium, 0.2g/t platinum, 0.3g/t gold, 0.2 per cent nickel, 0.4 per cent copper, 0.02 per cent cobalt from 141m; and

JRC073
8m at 2.2g/t palladium, 13.3g/t platinum, 0.1g/t gold, 0.1 per cent nickel, 0.1 per cent copper, 0.01 per cent cobalt from 225m.

The drilling also encountered high-grade drill intersections (>1g/t Pd cut-off grade) in the newly defined G6 and G7 zones, including:

JRC070, G7
19m at 3.1g/t palladium, 0.7g/t platinum, 1.1g/t gold, 0.2 per cent nickel, 0.8 per cent copper, 0.02 per cent cobalt from 67m; and

JRC073, G6
11m at 3g/t palladium, 0.9g/t platinum, 0.5 per cent nickel, 0.3 per cent copper, 0.06 per cent cobalt from 78m;

Meanwhile, a initial drill hole into EM Conductor ‘X’ (JD018), approx. 800m north-west of the G4 Zone, intersected an approximate 500m wide interval of Gonneville mafic-ultramafic rock types with broad PGE zones associated with disseminated sulphides.

This hole returned a high-grade interval of:

3m at 1.9g/t palladium, 0.5g/t platinum, 0.5g/t gold, 0.5 per cent copper from 884m, demonstrating a similar PGE-copper-gold association to the G4 Zone.

“The Gonneville PGE-nickel-copper-cobalt-gold discovery continues to grow on multiple fronts, with another round of exceptional drill results extending the known high-grade zones, defining new zones and further reinforcing the numerous growth opportunities across the project,” Chalice Gold Mines managing director Alex Dorsch said in the company’s ASX announcement.

“Given the width and grade of the drill results we are continuing to see over a very large area, the scale of the Gonneville Intrusion itself, and the significant growth potential beyond the limits of the current resource drilling, it is clear that Julimar is emerging as a globally significant deposit of critical metals in Western Australia.

“We now have sufficient drill density at the southern end of the intrusion to define two entirely new zones (G6 and G7), both of which have significant scale and include some of the highest PGE grades seen to date on the project.

“We have also recently intersected some of the widest, highest grade oxide mineralisation at this southern end of the intrusion.

“Given recent favourable leach testwork results, we believe this oxide zone could have a significant impact on project economics.

“Meanwhile, the first deep hole into EM Conductor ‘X’, approximately 800 metres north-west of the G4 Zone, has improved our geological understanding of the intrusion and delivered a proof-of-concept for the growth potential of the footwall contact zone (G4).

“The presence of PGE-copper-gold rich mineralisation at the bottom of JD018 is exciting, as it indicates that the entire footwall contact of the intrusion is prospective, providing a major target position going forward.

“The intrusion is now interpreted to be a approx. 500 metres thick ‘sill’ style of mafic-ultramafic intrusion, with a consistent westerly dip and northerly plunge.

“This again reinforces the prospectivity of the recently announced Hartog EM Anomaly, located immediately north of Gonneville, in the Julimar State Forest.

“Given that this very strong EM anomaly sits just 1.5 kilometres north of the very wide mineralised intercepts encountered in JD018, it’s not hard to see why we are so excited about the district-scale potential at Julimar.

“This is a large, multi-faceted mineralised complex which continues to surprise on the upside.

“With five rigs drilling, we are on track to meet the mid-2021 guidance for a maiden Mineral Resource for Gonneville and continue to prioritise the growth of the high-grade mineralised zones with step-out drilling.”

 

 

Email: info@chalicegold.com

 

Web: www.chalicegold.com