Chase Mining uncovers visible thick massive sulphide intersection at Alotta nickel-copper prospect
Chase Mining Corporation has intercepted 41m of visible massive sulphide mineralisation at Alotta.
A 700m diamond drilling campaign at the high-grade Alotta nickel-copper prospect within Canada’s Belleterre-Angliers Greenstone Belt has intersected massive sulphide zones for owner Chase Mining Corporation (ASX: CML).
The advanced exploration company has reported the first hole in the campaign, which commenced last weekend, was completed at 102m with 41m of visually-logged massive and net textured sulphide mineralisation intersected in a mostly-mineralised zone from 32m to 73m downhole.
It is believed to be the biggest downhole mineralised intercept uncovered to date within its wholly-owned Alotta project.
A second zone of massive sulphides of 1.2m was also intersected from 86.6m to 87.8m.
The seven-hole diamond campaign was designed to target extensions to known mineralisation within the nickel-copper wireframe at Alotta including a potential west-northwest extension of the main mineralised zone.
It comprises four primary holes with planned undercut and uplift holes as warranted by results from the initial drilling.
A second hole currently being drilled is an uplift of a hole drilled in November 2018 which returned 11.28m at 2.17% nickel, 2.15% copper, 2.94 grams per tonne platinum group elements and 0.11% cobalt from 61.15m.
Chase said it would continue drilling into the footwall to test the extent of the net-textured sulphide mineralisation associated with a gabbro body along the northern margin of the wireframe model.
Zeus acquisition
The high-grade Alotta prospect within the project is located in south-western Quebec which Chase (then named TopTung Ltd) inherited when it acquired Australian nickel-copper sulphide explorer Zeus Olympus Sub Corp in mid-2018.
A maiden nine-hole drilling campaign in October 2018 totalled 801m and intersected wide zones of high-grade massive sulphide mineralisation.
In early 2019, a VTEM (versatile time-domain electromagnetic) survey totalling 732-line kilometres was completed over the entire Zeus tenement package.
Processing of the data identified six priority one conductors worthy of drill testing and a provisional diamond drill program of up to 2,500m was budgeted to test the targets.
Chase said there is potential to discover further nickel-copper-PGE-cobalt mineralisation within the district, and has been assessing acquisition opportunities and applying for adjoining prospective areas based on geological data and interpretation.
Bambino claims
In June, the company entered into an agreement to acquire the highly-prospective Bambino project claims which are contiguous with Alotta.
Bambino comprises 34 granted claims and more than doubles the area of the Alotta project.
At midday, shares in Chase were up 37.04% to $0.037.