Chalice Gold Mines finds new PGE-copper-gold horizon at Julimar
Link copied to
Chalice Gold Mines (ASX:CHN) has made a significant new platinum group element (PGE)-copper-gold discovery at its Julimar project near Perth that opens up further additional growth opportunities.
Notable intersections over a 1.2km strike at the eastern contact of the intrusion include 33m at 2.1 grams per tonne (g/t) palladium, 0.5g/t platinum, 0.2g/t gold and 0.5 per cent copper from a depth of 81m and 15m at 2.5g/t palladium, 0.5g/t platinum, 0.2g/t gold and 0.3 per cent copper from 139m.
Additionally, several new wide intersections were also made at electromagnetic (EM) conductor F at the southern end of the intrusion, such as 33m at 2g/t palladium, 0.4g/t platinum, 0.5g/t gold and 0.8 per cent copper from 236m.
These new mineralised zones remain open and further infill drilling is currently underway.
“Several new mineralised zones are emerging on the eastern contact with initial wide-spaced PGE and associated copper+/-gold drill intersections,” managing director Alex Dorsch said.
“The discovery of more extensive mineralisation along the eastern contact and at Conductor ‘F’ is another exciting step-change in our understanding of this large mineralised system, opening up an exciting new growth opportunity some 200-500m from the high-grade discovery area.”
Separately, high-grade PGE and nickel has been confirmed in the G1 and G2 zones with drilling returning a top hit of 11m at 4.8g/t palladium and 0.8 per cent nickel within a broader 45.1m intersection grading 2.9g/t palladium and 0.4 per cent nickel.
Another hole returned an 8m intersection at 5.1g/t palladium and 0.3 per cent nickel from 98m.
“At least five high-grade zones around the discovery area are now defined over ~550m of strike and up to ~340m of dip extent,” Dorsch noted.
“Our geological understanding of the high-grade zones continues to be improved as we start to infill in parallel to step-out drilling.“
Meanwhile, an initial 800m step-out hole into the EM conductor X intersected the Gonneville Intrusion from 428m, plus disseminated sulphide mineralisation based on visual logging from 631m to 646m. Drilling is progressing at a current depth of 690m.
Dorsch says the Gonneville Intrusion appears to be much larger than originally envisaged with the magnetics and has significant room to grow towards the north-west.
“Evidence of sulphide mineralisation in the hole also further highlights the potential of the recently defined ~6.5km long Hartog EM Anomaly directly north of Gonneville,” he added.
Assays are pending for a further 32 drill holes, with drilling activity expected to step-out with the imminent arrival of a fifth drill rig.
“We are on track to meet the mid-2021 guidance for a maiden mineral resource and continue to prioritise growth of high-grade mineralised zones,” Dorsch concluded.
Chalice’s wholly-owned Julimar nickel-copper-PGE project is just 70km northeast of Perth with direct access to major highway, rail, power and port infrastructure.
It was first staked in 2018 as part of the company’s search for high-potential nickel sulphide exploration opportunities.
The Julimar Complex is interpreted to extend over ~26km of strike and exploration conducted by the company since mid-2019 has confirmed that it is highly prospective for nickel, copper and platinum group elements.
Early stage metallurgical test work on selected high-grade and disseminated sulphide mineralisation samples has returned promising flotation results, giving initial encouragement that the sulphide-hosted mineralisation at Gonneville will be amenable to conventional flotation under standard conditions.
The 70,000m reverse circulation (RC) and diamond drilling to define resources is currently underway with two RC and two diamond rigs.
Drilling is initially being undertaken on an 80m by 80m spaced grid over the high-grade areas, with infill then likely to be on a 40m by 40m grid.
Chalice will also continue to complete down-hole EM surveys on selected holes and in areas of wide-spaced drilling.
It noted that based on drill results received to date, the lack of an EM target does preclude the presence of high-grade mineralisation.
A composite metallurgical sample is currently being compiled from the various mineralisation styles within the intrusion.
Once completed, the next phase of metallurgical test work will being with a focus on the flotation of fresh sulphide mineralisation and oxidative leaching of oxide mineralisation.