Join our daily newsletter At The Bell to receive exclusive market insights
- Chase Mining (CML) has found visible gold during its diamond drill program at the Lorrain Mine Gold Project in southwestern Quebec
- The gold has been recorded at a depth of 459.8 metres, at a hole that has intersected a footwall alteration zone
- This has opened up the potential for further mineralisation at the project
- Drillhole number three, CM-20-03, has also been completed at 450 metres, however, photographs and a detailed log is currently unavailable
- The delays are due to geological contractor issues, unseasonal hot weather and thunderstorms
- On the market this afternoon, Chase Mining remains steady and is trading for 2.7 cents each
Chase Mining (CML) has found visible gold during its diamond drill program at the Lorrain Mine Gold Project in southwestern Quebec.
The drilling program was targeting gold, copper and silver mineralisation.
The gold was recorded at a depth of 459.8 metres, at a hole that has intersected a footwall alteration zone. This has opened up the potential for further mineralisation at the project.
The visible gold was found in hole CM-20-02. The hole was deepened to 513 metres, from 400 metres, to further evaluate the footwell basalts.
“The discovery of this deeper footwall alteration zone including minor visible gold, which is separate to the original contact target footwall shear zone, has opened significant additional potential for gold mineralisation to be hosted at Lorraine,” the company said.
Diamond drillhole CM-20-03 has also been completed at 450 metres, however, photographs and a detailed log are currently unavailable. The delays are due to geological contractor issues, unseasonal hot weather and thunderstorms.
Now, hole CM-10-04 is being drilled. Once complete, the company will deepen hole CM-10-01 to around 500 metres.
On the market this afternoon, Chase Mining remains steady and is trading for 2.7 cents each at 3:00 pm AEST.
