- Chase Mining (CML) has intersected visible fine-grained gold at its Lorraine Gold Project in Quebec, Canada
- Hole CM-20-02 was originally planned to a depth of 400 metres but was extended to test for additional mineralisation
- The hole intersected visible gold mineralisation at 462 metres and was extended to its final depth of 513 metres due to the presence of irregular alteration zones
- This hole also returned elevated gold and silver results of 53.47 grammes per tonne and 12 grammes per tonne respectively
- Chase will now drill two additional holes and will extend the original depth for both
- Company shares are up a healthy 21.7 per cent and are trading for 2.8 cents each just before market close
Chase Mining (CML) has intersected visible fine-grained gold at its Lorraine Gold Project in Quebec, Canada.
Hole CM-20-02, which intersected the gold, was originally planned for a depth of 400 metres but was extended to test for additional mineralisation.
The hole intersected visible gold mineralisation at 462 metres and was extended to its final depth of 513 metres due to the presence of irregular alteration zones and silification.
This hole also returned a significant result of one metre at 53.47g/t gold and 12g/t silver.
These results and visible mineralisation have added significant potential for gold mineralisation at Lorraine.
Chase is now in the progress of drilling hole CM-20-03 and once completed the rig will move to hole CM-20-04.
Given that hole CM-20-02 intersected visible mineralisation below its original planned depth, both of these holes will be extended.
Chase is up a healthy 21.7 per cent on the market and shares are trading for 2.8 cents each at 4:08 pm AEST.