Join our daily newsletter At The Bell to receive exclusive market insights
- Chase Mining (CML) has received further high-grade nickel, copper and platinum group element results from drilling at its Alotta Project in Canada
- The five-hole drilling program targeted east-southeast extensions to known mineralisation around a previously drilled hole
- Importantly, one hole returned 1.64 per cent nickel, 9.97 per cent copper, 33 grams per tonne silver and 4.4 grams per tonne platinum group elements
- Overall, the drilling confirmed the mineralisation continues to the east-southeast and at depth of the Alotta Project
- Company shares are down 3.23 per cent and are trading for 3 cents
Chase Mining (CML) has received further high-grade nickel, copper and platinum group elements (PGE) results from drilling at its Alotta Project in Canada.
The five-hole, for 543 metres, drilling program targeted east-southeast extensions to known mineralisation. The drilling focused around the 2019 hole, ZA-19-05, to evaluate the significance of the high-grade palladium and copper assay the hole returned.
ZA-20-01
Hole ZA-20-01 was completed at 99 metres intersecting two zones of massive sulphides from 62.6 to 69 metres and 75.8 to 79.2 metres downhole.
Importantly, Chase intersected a 25 centimetre zone of massive chalcopyrite at 75.8 metres downhole.
The best result from this hole is 3.4 metres at 1.64 per cent nickel, 9.97 per cent copper, 33g/t silver and 4.4g/t PGE from 75.8 metres.
ZA-20-02
Hole ZA-20-02 didn’t intersect any mineralisation at the expected target position. Although, a younger feldspar porphyry intrusive was intersected from roughly 53 to 129 metres end of hole.
ZA-20-03
Hole ZA-20-03 was drilled to test the east-southeast strike extension of ZA-19-05. The hole intersected minor massive sulphides and disseminated sulphides over 4.55 metres from 70.7 to 75.25 metres downhole.
Results include 4.55 metres at 0.19 per cent nickel, 2.19 per cent copper, 4.2g/t silver and 1.3g/t PGE from 70.7 metres.
ZA-20-04
Significantly, ZA-20-04 intersected 27.5 metres at 1.19 per cent nickel, 1.6 per cent copper, 5g/t silver, and 1.5g/t PGE from 48.5 metres, 17 metres at 1.67 per cent nickel, 2.12 per cent copper, 5g/t silver and 2g/t PGE from 48.5 metres, and including 8.5 metres at 2.05 per cent nickel, 2.09 per cent copper, 4g/t silver and 2.3g/t PGE from 56 metres.
ZA-20-05
ZA-20-05 intersected two zones of mineralisation at depth. These include massive and disseminated sulphides as follows: 12.5 metres at 1.55 per cent nickel, 1.9 per cent copper, 15.3g/t silver, and 2.5g/t PGE from 76.2 metres, including 6.9 metres at 2.46 per cent nickel, 2.48 per cent copper, 24.5g/t silver and 4.9g/t PGE from 81.8 metres.
Outlook
While results from this drilling didn’t return further bonanza grade copper-palladium-platinum, it did outline a zone of copper to 9.97 per cent, PGE to 4.9g/t and silver of around one ounce per tonne.
Overall, the drilling confirmed the continuity of mineralisation to the east-southeast and at depth of Alotta.
Chase Mining will now review additional historical drilling and survey data from last year.
Company shares are down 3.23 per cent and are trading for 3 cents each at 12:49 pm AEST
