Chalice Mining Updates Gonneville Mineral Resource
THE DRILL SERGEANT: Chalice Mining (ASX: CHN) reported an updated Mineral Resource Estimate (MRE) for the Gonneville deposit, the first discovery made at the company’s 100 per cent-owned Julimar nickel-copper-PGE project in Western Australia.
Updated Indicated and Inferred, open-pit and underground mineral resource estimate has come in at:
350 million tonnes at 0.96 grams per tonne 3E (Palladium (Pd) + Platinum (Pt) + Gold (Au)), 0.16 per cent nickel, 0.1 per cent copper, 0.015 per cent cobalt (approx. 0.58% nickel equivalent (NiEq) or approx. 1.8g/t palladium equivalent (PdEq3));
Containing 11 million ounces 3E, 560,000 tonnes nickel, 360,000 tonnes copper, 54,000 tonnes cobalt (approx. 2 million tonnes NiEq or approx. 20 million ounces PdEq);
“The work we have completed since publishing our maiden Resource in November last year continues to demonstrate the world-class endowment, scale and quality of the Gonneville deposit,” Chalice Mining managing director & chief executive officer Alex Dorsch said in the company’s ASX announcement.
“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 approx. 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.
“The Indicated component of the Resource will underpin the Scoping Study, which is progressing well and due for completion in Q3 2022.
“The continued growth in the higher-grade sulphide component – both in an expanded open pit optimisation and, significantly, in our first reported underground Resource, further enhances the significant development optionality of the deposit.
“It is also evident from recent exploration results that there is enormous growth potential both at depth at Gonneville and along the effectively untested Julimar Complex to the north.
“While we already have a tier-1 scale deposit which has the potential to underpin a world-class, long-life green metals project, the resource base is expected to continue to grow.”
Email: info@chalicemining.com