- Chase Mining (CML) has intersected further massive sulphides during diamond drilling at the Alotta Project in Canada
- The five-hole drilling program is being conducted around a hole drilled last year, which returned significant copper, palladium, platinum, nickel and silver results
- All holes have returned significant results, except for one
- Once the final drill hole has been completed, Chase will move the drill rig to its Lorraine Gold Project in Quebec
- Company shares are up 15.4 per cent and are trading for 4.5 cents each
Chase Mining (CML) has intersected further massive sulphides from diamond drilling at the Alotta Copper-Palladium-Platinum-Nickel Project in Canada.
Last Friday, on June 26, the company reported intersecting two zones of massive sulphide from its first hole.
A second hole, ZA-20-02, was drilled, however, it failed to intersect any significant mineralisation.
Over the weekend, Chase completed three additional holes, with the standout being hole ZA-20-04. This hole intersected a 25 metre downhole mineralised zone from 49 to 74 metres downhole, including two massive sulphide zones from 49 to 51 metres and 55 to 65 metres with disseminated mineralisation surrounding them.
The current five-hole drilling program is being conducted around, and based on, hole ZA-19-05 which was drilled last year.
Drilling is aimed at evaluating the importance of previously reported findings, including a 4.1 metre zone of mineralisation hosted in feldspar porphyry from 55.3 metres downhole, assaying 5.3 per cent copper, 4.9g/t palladium, 0.9g/t platinum, 0.26 per cent nickel, and 12g/t silver.
Hole ZA-20-04 was drilled to test the west strike extension of hole ZA-19-05, but is yet to be logged, photographed, cut and sampled in detail.
Hole ZA-20-03 was completed at 105 metres and also intersected a zone of massive sulphide and disseminated sulphides over 4.55 metres from 70.7 to 75.25 metres downhole.
A drilling rig will immediately be relocated to Chase’s Lorraine Gold Project in Quebec.
Company shares are up 15.4 per cent and are trading for 4.5 cents each at 11:23 am AEST.