The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Chase Mining (CML) has completed a six-hole diamond drilling program at its Lorraine Mine Gold Project in Quebec
  • Pleasingly, Chase intersected the Footwall Contact Target Zone and newly discovered silica-carbonate alteration breccia zones in all six holes
  • One hole intersected a 150 metre-wide shear zone, which contains intense silica-carbonate alteration, along with quartz veining and sulphides
  • Samples from all drill holes will be submitted for analyses once core logging and samples have been completed
  • Company shares are down 6.9 per cent and are trading for 2.7 cents

Chase Mining (CML) has successfully completed a diamond drilling program at its Lorraine Mine Gold Project in southwestern Quebec.

The company increased the initial four-hole, for 1570 metres, drilling program to six holes for a total of 2928 metres.

The first four holes drilled all intersected the Footwall Contact Target Zone (FCTZ).

This additional drilling followed a 103-metre extension of hole CM-20-02 to test the deeper prospectivity after intersecting a footwall breccia zone in CM-20-01 earlier this month.

Drilling successfully intersected silica-carbonate alteration and quartz-sulphide veining and brecciation in all six holes to roughly a 500-metre depth. This is 75 to 100 metres into the footwall basalts to the Lorainne nickel-copper massive sulphide body as well as east of and below the mining void.

Hole CM-20-06 targeted the possible continuation of the FCTZ. Chase drilled this hole to test the footwall basalt sequence 200 metres west of the Lorraine Nickel Mine.

Not only did the drill hole intersect the FCTZ at 175 metres to 186 metres downhole and several silica alteration zones to 296 metres, but the hole also intersected a well-developed shear zone from 296 metres to 450 metres downhole.

This approximate 150 metre-wide zone contains several wide zones of intense silica-carbonate alteration and quartz veining with sulphides.


Discovering the deeper footwall alteration zone in all holes has opened major potential for the Lorraine Mine to host further gold mineralisation.

Samples from the program will be submitted for analyses once detailed core logging and sampling have been completed. This is expected to be finalised later this week.

Company shares are down 6.9 per cent and are trading for 2.7 cents each at 2:21 pm AEST.

CML by the numbers
More From The Market Online

Provident Aurum’s off-market bid sends Sihayo shares soaring

Small-cap mineral and gold explorer, Sihayo Gold (ASX:SIH) shares have soared, on news that the company…

It’s hard to imagine a world without a mining company called Anglo American

Growing up in South Africa it seemed inconceivable that Anglo American, a mining colossus at its zenith…
The Market Online Video

Geology is King: Sun Silver says Maverick Springs will outshine high-grade Australian mines

Sun Silver Ltd (ASX:SS1) is seeking gold, silver and pathfinder elements at their Maverick Springs project…

Viridis’ Brazilian holdings good for both light and heavy REEs, results beyond 27K ppm

Viridis Mining and Minerals (ASX: VMM) has remained steady on the market today on grades topping 27,000 parts per million from its rare