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Chase Mining confirms positive electromagnetic response at third-party areas near its projects

Positive VTEM response from the Lac Kelly and Midrim deposits adds credibility to Chase Mining’s survey results.
Lorraine and ADZ project areas
Lorraine and ADZ project areas

Chase Mining Corporation Ltd (ASX:CML) has revealed additional third-party information from the VTEM Max electromagnetic survey completed over its Lorraine and Alotta-Delphi-Zullo (ADZ) project areas in Quebec, Canada.

Background

The company had received permission to overfly project areas held by Globex Mining (TSX:GMX) owners of the Lac Kelly deposit; Meteoric Resources NL (ASX:MEI) owners of the Midrim deposit; and Toronto based geologist Marty Huber owner of the Bambino claims.

These areas are in close proximity to the Lorraine and ADZ Projects.

The Lac Kelly and Midrim deposits have been classed as a priority 1 targets by the company’s consultants Core Geophysics using the same ranking criteria as applied to the VTEM survey results from the Lorraine and ADZ claims.

READ: Chase Mining identifies six high-priority massive sulphide conductor targets, shares up

Importantly, the positive VTEM response from the Lac Kelly and Midrim deposits adds credibility to Chase Mining’s survey results, data interpretation and the modelling to generate and prioritise its own drill targets.

VTEM anomaly ranking

Within the Lorraine Project claims 31 target anomalies were defined comprising five high priority targets, ten medium priority target, twelve low priority targets and four that may be cultural.

Within the ADZ Project claims 11 target anomalies were defined comprising one high priority target, one medium priority target, two low priority targets and seven that may be cultural.

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