- Chalice Gold Mines (CHN) has intersected significant new results from ongoing drilling at its Julimar Project in Western Australia
- Results grading up to 5.3 grammes per tonne palladium, 1.3 per cent nickel, and 0.6 per cent copper were identified
- These results have confirmed that significantly high nickel-copper-PGE grades can be identified at the project
- The company will now explore and evaluate the nickel-copper zones and is aiming to outline a preliminary mineral resource estimate within 12 months
- Chalice is up 4.89 per cent in mid-morning trade and shares are selling for 96.5 cents each
Chalice Gold Mines (CHN) has intersected significant new results from ongoing drilling at its Julimar Nickel-Copper-PGE Project.
Julimar is located in Western Australia, approximately 70 kilometres northeast of Perth.
A total of three rigs — two reverse circulation (RC) and one diamond — are drilling at the Gonneville Intrusive. Results have demonstrated high-grade nickel-copper-PGE (platinum group element) zones in massive sulphides.
Additionally, an electromagnetic (EM) survey was also undertaken over the entire intrusive to identify new targets and the continuations of existing targets.
Hole JD003
Chalice has received results from hole JD003, while results for an additional 10 holes are pending.
This hole was drilled to target a high-priority off-hole conductor that was previously identified.
A significant result of 17.6 metres at 5.3g/t palladium, 1g/t platinum, 1.3 per cent nickel, 0.6 per cent copper, and 0.07 per cent cobalt from 191.4 meres has exceeded the company’s expectations.
This result has confirmed that significantly high nickel-copper-PGE grades can be identified.
Hole JD003 also intersected a near-surface PGE-rich oxide interval of 19 metres at 1.6g/t palladium and 0.4g/t platinum from nine metres, as well as several PGE-rich sulphide intervals.
Chalice will now explore and evaluate the nickel-copper-PGE zones and is aiming to outline a preliminary mineral resource estimate within the next 12 months.
The company is also planning to gain access approvals to undertake exploration within the Julimar State Forest, carry out EM geophysics, and continue with RC and diamond drilling.
Chalice is up 4.89 per cent in mid-morning trade and shares are selling for 96.5 cents each at 10:25 am AEST.