Chalice at high on new Julimar PGE results

Chalice Gold Mines shares reached new heights after drilling defined a new platinum group element-copper-gold horizon at the Julimar discovery, northeast of Perth (reports MiningNews).
9th October 2020
Resources Rising Stars

Chalice Gold Mines shares reached new heights after drilling defined a new platinum group element-copper-gold horizon at the Julimar discovery, northeast of Perth (reports MiningNews).

Step-out drilling over a 1.2km strike length at the eastern contact of the Gonneville Intrusion returned 33m at 2.1 grams per tonne palladium, 0.5gpt platinum, 0.2gpt gold, 0.2% nickel, 0.5% copper and 0.02% cobalt from 81m; 15m at 2.5gpt palladium, 0.5gpt platinum, 0.2gpt gold, 0.3% nickel, 0.3% copper and 0.02% cobalt from 139m; and 13m at 2.3gpt palladium, 0.6gpt platinum, 0.2gpt gold, 0.2% nickel, 0.5% copper and 0.02% cobalt from 170m.

This Eastern Contact position of the intrusion is 200-500m to the north-east, east and south-east of the previously identified high-grade G1-G4 Zones.

New results from Conductor F at the southern end of the intrusion included 33m at 2gpt palladium, 0.4gpt platinum, 0.5gpt gold, 0.3% nickel, 0.8% copper and 0.02% cobalt from 236m; 18.6m at 2.1gpt palladium, 0.8gpt platinum, 0.2% nickel, 0.1% copper and 0.02% cobalt from 240.4m; and 6m at 8.8gpt palladium, 0.2gpt platinum, 0.2% nickel, 0.1% copper and 0.02% cobalt from 196m.

All new mineralised zones remain open and further infill drilling is currently underway.

Significant high-grade PGE-nickel mineralisation was also confirmed in the G1-G2 Zones with new results including 45.1m at 2.9gpt palladium, 0.8gpt platinum, 0.4% nickel, 0.3% copper and 0.03% cobalt from 223.9m, including 11m at 4.8gpt palladium, 0.8gpt platinum, 0.8% nickel, 0.4% copper and 0.05% cobalt; and 8m at 5.1gpt palladium, 0.8gpt platinum, 0.3% nickel, 0.1% copper and 0.02% cobalt from 98m.

Four westerly dipping, stacked zones, G1, G2, G3 and G4, are now interpreted in this area, extending over about 550m of strike extent and up to roughly 340m of dip extent.

The zones remain open along strike and down-dip.

Chalice managing director Alex Dorsch said the Gonneville discovery continued to grow.

"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 of the high-grade discovery area," he said.

"In addition, assay results have confirmed a wide PGE-nickel intersection down-dip of the G2 Zone, which was originally interpreted as the G1 Zone but has now been re-interpreted based on new results.

"Our geological understanding of the high-grade zones continues to be improved as we start to infill in parallel to step-out drilling."

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