Explorers Predictive Discovery, Chalice Gold Mines surge on big discoveries
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African explorer Predictive is up +400pc on a new gold discovery at the Kaninko project in Guinea. Meanwhile, Chalice hits all-time highs after confirming something “very large” at the Julimar nickel-copper-PGE project in WA.
An initial drilling program at North-East Bankan by Predictive Discovery (ASX:PDI) has returned numerous shallow, thick, and high-grade gold intercepts like 10m at 26.52 grams per tonne (g/t) gold at the North-East Bankan prospect.
Gold was hit in 23 of the 24 shallow (sub-50m depth) holes drilled, with many results from surface.
Overall, the drilling has revealed the presence of a very broad, north-trending gold-rich zone at least 450m long, ‘open’ in all directions and at depth. Open just means the explorer doesn’t know where the gold ends yet.
In just nine months the prospect generator has transformed this greenfields property with no known prior exploration to an exciting new gold discovery, managing director Paul Roberts says.
“Many of the holes either started or stopped in gold mineralisation, which is therefore open both at depth and to the east and west on most drill lines,” Roberts says.
“The mineralisation is also open to the north and south so there is plenty of scope to grow this further with more drilling.
“We are also waiting for assays from our recently completed Bankan Creek drilling only 3km south-west of this discovery, which is a separate broad, gold mineralised system that has already demonstrated promising trenching and power auger drill results.”
Chalice (ASX:CHN) was also a big winner in morning trade, jumping +80 per cent to record highs after a new wide high-grade palladium-nickel-copper zone was intersected at Julimar, ~60m east of the recent discovery hole.
Managing director Alex Dorsch says the new exciting results indicate that Chalice appears to have a very large palladium-nickel discovery on its hands.
“In addition, assays received to date have confirmed that all of our drill holes have intersected significant broad zones of palladium – a surprising result that highlights the metal-rich nature of the intrusive and its potential to deliver a discovery of considerable scale,” he says.
“While the broad palladium intervals point to a large-scale PGE discovery, our focus remains on defining high-grade zones of mineralisation which, according to the geological analogues such as Jinchuan in China and Kabanga in Tanzania, could be found at depth below the disseminated sulphide zones.”
Kabanga and Jinchuan are two of the largest nickel sulphide projects in the world.