Chase Mining strikes more visible thick massive sulphides at Alotta

Chase Mining Corporation ASX CML nickel copper sulphides Alotta Project
Chase Mining reported actual assays from last year’s drilling at Alotta of 9.2m at 2.59% nickel, 2.79% copper, 3.37g/t PGE and 0.11% cobalt.

Chase Mining (ASX: CML) has struck more visible thick massive sulphide intersections while drilling at its Alotta nickel-copper project in Canada’s south-western Quebec region.

Following a similar announcement earlier this week, Chase has uncovered two further thick mineralised intercepts during the six-hold diamond drill program that started last week.

According to Chase, both these holes have successfully extended known mineralisation at the prospect.

From these latest holes, the first hole was completed at 102m and pulled up 21.5m of visually logged massive and net textured sulphide mineralisation from 49m, including a 5m massive sulphide zone.

The second hole was also completed at 102m and unearthed 25m of the same mineralisation from 50m. This intercept contained a 10m interval of massive sulphide from 59.5m.

Chase noted the uncut core and mineralisation displayed “similar visual characteristics” and tenor to the company’s previously reported high-grade intercepts at the prospect.

Drilling is ongoing with the diamond rig now transported to target a new shallow plate identified from a previous down-hole electromagnetic survey.

Earlier this week, Chase reported the first hole of the campaign had uncovered 41m of visually logged mineralisation from 32m.

Previous exploration at Alotta

This latest program follows a maiden drilling program undertaken late last year.

Notable results from last year’s campaign were 9.2m at 2.59% nickel, 2.79% copper, 3.37 grams per tonne platinum group elements and 0.11% cobalt from 85.2m; and 11.28m at 2.17% nickel, 2.15% copper, 2.94g/t PGE and 0.11% cobalt from 61.15m.

Additionally, thicker intersections included 24.17m at 1.23% nickel and 2.31% copper from 53.1m, and 20.8m at 1.18% nickel and 1.5% copper from 40.7m.

Last year’s results were from a nine-hole for 801m drilling campaign, which Chase described as “very encouraging”.

Alotta background

Under its former name of TopTung, Chase entered the nickel sulphide space last year by acquiring Zeus Minerals.

Zeus wholly-owned the exploration rights to three project areas encompassing 63.5 square kilometres and hosting the Lorraine and Alotta prospects.

This morning’s news sent Chase’s share price up 20% to reach a high of $0.036 at the start of trade.