Join our daily newsletter At The Bell to receive exclusive market insights
- Chalice Mining (CHN) confirms a major northern extension of the Gonneville Intrusion within its Julimar project in Western Australia
- Drilling at Gonneville has confirmed the results of recent 2D seismic survey data and confirmed the continuation of the intrusion to the northwest
- The drilling work extended the mineralised zones 600 metres past the current resource, with up to 0.7 per cent nickel, 0.9 per cent copper and 0.04 per cent cobalt intersected
- Chalice now remains focused on delivering a scoping study for the potential Gonneville mine later in the year
- Shares in Chalice are up 8.31 per cent and trading at $4.30 at 1:32 pm AEDT
Chalice Mining (CHN) has confirmed a major northern extension of the Gonneville Intrusion within its Julimar project in Western Australia.
Exploration is continuing at Julimar, with four diamond rigs in operation at the Hartog-Baudin strike and two at Gonneville.
Drilling at Gonneville has confirmed the results of recent 2D seismic survey data and confirmed the continuation of the intrusion to the northwest beneath the Julimar State Forest.
The drilling work in the area also extended the mineralised zones 600 metres past the resource, with up to 0.7 per cent nickel, 0.9 per cent copper and 0.04 per cent cobalt intersected.
The majority of Gonneville remains untested and lies under a small portion of the Julimar State Forest.
Even though it is classified as a state forest, applications for and the grant of mining leases can still be made, subject to normal regulatory approval processes.
Chalice is now focussing its exploration plans on targeting new high-grade nickel-copper-platinum group element (PGE) sulphide deposits.
Due to the size of the project, Chalice is considering securing a strategic minority joint venture partner or partners to help with the development of a potential mine at Gonneville.
Additionally, Chalice remains focused on delivering a scoping study for the Gonneville mine later in the year.
An electromagnetic and seismic survey is currently being planned to test the 12-kilometre strike from Hartog to Baudin and vector towards high-grade mineralised zones.
Shares in Chalice were up 8.31 per cent and trading at $4.30 at 1:32 pm AEDT.
