- Chase Mining (CML) is up more than 20 per cent this morning after intersecting massive sulphides in its first hole at the Alotta Project in Canada
- The first hole intersected two zones of massive sulphide at 67 metres and 79.2 metres
- Additionally, a 13.54 metre mineralised porphyry unit was intersected and interestingly it has not been intersected by Chase’s previous drill programs
- The second hole of the program has begun and has already reached a depth of 33 metres
- Chase shares are now up 21.1 per cent and are trading for 2.3 cents each
Chase Mining (CML) is up more than 20 per cent this morning after intersecting massive sulphides in its first hole at the Alotta Project in Canada.
The first hole, ZA-20-01, intersected two zones of massive sulphide from 63.7 metres to 67 metres, and 77 metres to 79.2 metres.
This hole has confirmed the mineralisation which was reported back in 2019.
Results from 2019 include 5.3 per cent copper, 0.26 per cent nickel, 12g/t silver 4.9g/t palladium, and 0.9g/t platinum.
Chase also uncovered a bonanza result of 22 per cent copper, 1.4 per cent zinc, 0.78 per cent nickel, 65g/t silver, 34g/t palladium, and 3.5g/t platinum.
Additionally, a 13.54 metre mineralised porphyry unit was intersected at 50.16 metres and what makes this interesting is that it has not been intersected by Chase’s previous drill programs.
It is unsure at this moment whether hole ZA-20-01 correlates with last years bonanza copper-palladium-platinum intercept.
The second hole of the program, ZA-20-02, has begun and has already reached a depth of 33 metres.
Chase shares are now up 21.1 per cent and are trading for 2.3 cents each at 10:56 am AEST.