- Chalice Gold Mines (CHN) has identified a new 6.5-kilometre-long electromagnetic (EM) anomaly at its Julimar Project in WA
- This anomaly is one of three discovered via a recent airborne EM survey which aimed to test for conductors within and surrounding the Julimar State Forest
- However, final results from all anomalies are yet to be received, so it is possible that more may be identified
- The company is now awaiting feedback regarding access to the State Forest for the next stage of exploration activities
- Chalice is up a healthy 18.3 per cent this morning and shares are trading for $2.07 each
Chalice Gold Mines (CHN) has identified a new 6.5-kilometre-long electromagnetic (EM) anomaly at its Julimar Project in WA.
This anomaly is one of three discovered via a recent airborne EM survey that aimed to test for conductors within and surrounding the Julimar State Forest.
The anomalies are known as Hartog, Baudin and Jansz.
Hartog
The Hartog anomaly spans 6.5 kilometres and lies directly north from the Gonneville intrusion, where a significant nickel-copper-cobalt-PGE (platinum group element) discovery was identified in March.
The peak airborne electromagnetic (AEM) response at Hartog is significantly higher than the peak AEM response at Gonneville, indicating a potentially shallow, large conductive body that may represent sulphide mineralisation.
Baudin
The Baudin anomaly lies roughly 10 kilometres northeast of Gonneville.
The area has been sampled with strongly anomalous nickel-copper-palladium mineralisation identified.
Jansz
The Jansz anomaly lies 18 kilometres northeast of Gonneville and is visible, potentially indicating surface responses.
However, final results from all anomalies are yet to be received, so it is possible that more may be identified.
“We have speculated for some time that the area north of our recent Gonneville discovery is highly prospective,” Managing Director Alex Dorsch commented.
“We have now supported that claim with major new, laterally extensive geophysical targets from the first airborne EM survey over the company’s granted tenure, which is a very exciting and important development,” he said.
“We are expecting initial feedback shortly regarding access to the State Forest for the next stage of reconnaissance exploration activities. We are hopeful of being able to assess the compelling new anomalies and aim to expand Julimar into a district-scale, multi-discovery opportunity,” he added.
Chalice is up a healthy 18.3 per cent this morning and shares are trading for $2.07 each at 10:23 am AEST.