- Chalice Mining (CHN) unearths “promising” new sulphide mineralisation at the Hooley prospect within the Julimar project in Western Australia
- The company says it struck “significant” platinum group element (PGE)-dominant sulphide mineralisation during initial drilling at the greenfield prospect
- The mineralisation was intersected in all five reconnaissance holes from three drill sites over a 1.8-kilometre strike length
- Assays are still pending for a further nine holes, with downhole electromagnetic surveys currently underway
- Chalice Mining is up 13.4 per cent and trading at $6.31 at 12:31 pm AEDT
Chalice Mining (CHN) has unearthed “promising” new sulphide mineralisation at the Hooley prospect within the Julimar project in Western Australia.
The company intersected “significant” platinum group element(PGE)-dominant sulphide mineralisation during initial drilling at the greenfield prospect, positioned five kilometres north of the Gonneville Resource.
The mineralisation was intersected in all five reconnaissance holes from three drill sites over a strike length of 1.8 kilometres.
Assay results included 69 metres at 0.9 grams per tonne (g/t) platinum group elements, 0.1 per cent nickel, 0.1 per cent copper, and 0.01 per cent cobalt from 312 metres.
This included 3.4 metres at 11.5 g/t PGE, 0.1 per cent nickel, 0.2 per cent copper, 0.01 per cent cobalt from 370.6 metres.
Assays are still pending for a further nine holes, with downhole electromagnetic surveys currently underway.
Chalice said following this, a more definitive interpretation could be made regarding the scale and significance of the newly-discovered mineralisation.
Chalice Mining was up 13.4 per cent and trading at $6.31 at 12:31 pm AEDT.