Chalice Gold Mines (ASX: CHN) has discovered a new style of platinum group element (PGE), nickel and copper mineralisation over a wide interval at its fast growing Julimar project located 70km from Perth.
The PGE, nickel and copper were found below the known G1-G2 zones at the Gonneville intrusion.
The latest intersection was 23.9m at 1.7 grams per tonne palladium, 0.4g/t platinum, 0.5g/t gold, 0.1% nickel, 0.7% copper, 0.02% cobalt from 314.9m below surface and continuing to end of hole.
The intercept included a 10.1m section at 2.9g/t palladium, 0.6g/t platinum, 1.2g/t gold, 0.1% nickel, 1.3% copper and 0.01% cobalt.
According to Chalice, this latest result represents a new style of high-grade PGE-copper-gold mineralisation.
Chalice’s share price soared in March when the company announced it had struck a massive sulphide zone with its first ever drill hole at the geographically large Julimar project.
That intersection was hit at 48m below ground and returned 19m at 2.59% nickel, 1.04% copper, 8.37g/t palladium and 1.11g/t platinum.
The company said today that drilling results are continuing to demonstrate that the Gonneville intrusion hosts both extensive high-grade PGE-nickel-copper-cobalt zones as well as widespread PGE in disseminated sulphides.
Dual strategy to extend mineralisation
Chalice is continuing its dual approach of targeting both extensions of the known PGE-nickel-copper-cobalt zones with step-out drill holes as well as scoping out the extensive PGE-rich areas.
Three rigs are drilling the intrusion.
Chalice, after a global search for a high potential nickel sulphide opportunity, acquired Julimar in 2018. It has interpreted a mineral complex about 26km long and 7km wide — and the project area has never been explored for nickel, copper or PGE.
The body is under cover — and Julimar is one of a growing number of projects under cover that are now being explored by Australian mining companies as the number of near-surface target possibilities dwindles.
The present work program includes a 20,000m reverse circulation drilling program to define the extent of the mineralised system. Meanwhile, diamond drilling will continue to step out from the known high-grade zones to test new targets
Electromagnetic geophysics will continue to identify high-grade targets for follow-up drilling.
In parallel, a preliminary metallurgical testwork program is underway as is the process to gain approvals to conduct non-ground disturbing exploration within the Julimar State Forest.