Chalice Mining identifies “exceptional” copper-rare earth target at Deep Blue

• Significant new results from rock chip sampling and ground geophysics
• Promising results at recently defined Deep Blue target
• Strong coincident magnetic and gravity anomalies
• Well-funded with $63M in cash and listed investments

Chalice Mining (ASX:CHN) has materially upgraded its new Deep Blue copper-molybdenum-silver-rare earth element (REE) discovery and highlighted it as a compelling, drill-ready, multi-kilometre scale greenfield target.

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The company has received “exciting” new exploration results from the recently identified Deep Blue target within the Northam JV project in the Wheatbelt region of WA.

Recent rock chip sampling and ground geophysical surveys have materially upgraded the prospectivity of the Deep Blue target, located 15km south-east of the Caravel copper project (ASX: CVV), which is at pre-feasibility stage and hosts a 3.0 million tonnes (Mt) contained copper resource.

Initial soil sampling over the area in early 2026 defined a coherent, multi-element geochemical anomaly extending over 2.5km in strike length and 500m wide, and coincident with a strong, discrete magnetic feature.

The anomaly has a peak copper-in-soil value of 890ppm against a local background of approximately 50ppm, with a consistent silver, molybdenum and gold association across the footprint with supporting pathfinders.

Airborne magnetic data has defined a series of strong, discrete features coincident with the soil anomaly. Magnetic inversion modelling indicates these represent steeply NE dipping bodies collectively extending over two to three km in strike length, consistent with a substantial mineralised structure.

The combination of coherent multi-element soil geochemistry, exceptional rock chip results, Fe-Cu- REE skarn-style mineralogy, continuous magnetic bodies at depth and a ground gravity response provides a well-constrained and compelling target for drill testing.

CHN is up 1.13% to $1.53. Mkt cap $588.1M.

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