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Chase Mining Corporation Ltd

Chase Mining confirms priority drill targets at Lorraine Project

The latest modelling further supports Chase Mining’s view that there is potential for a significant nickel discovery within the company’s project areas.

Nickel
Drilling of the Lorraine Priority 1 targets planned for late June or early July

Chase Mining Corporation Ltd (ASX:CML) has completed plate modelling of the ten Priority 2 VTEM electromagnetic targets within its Lorraine Project area in Quebec, Canada.

An initial assessment of the Priority 2 targets together with a provisional drill program for all ten targets (which was subject to plate modelling) was previously reported.

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Of the ten Priority 2 targets modelled, six returned plate models with considerable depth extent (>50 metres) and are now recommended for drill testing.

An initial diamond drill programme totalling six holes for 1,175m is required to test the Priority 2 targets.

A contingency of 825 metres is budgeted to allow for undercut / strike extension holes on any of the targets dependent upon results.

The drilling will be subject to compilation of historical exploration data and ground truthing being undertaken by the Chase Mining’s Canadian consultants Orix Geoscience.

Forward program

Orix Geoscience has commenced interrogation and digitising of the historical geology and historical drill hole/assay data in proximity to the VTEM anomalies.

This will be completed in conjunction with Orix’s ground truthing of the Priority 1 and 2 targets and planning of rig access.

Priority 1 and 2 drill collar location plan

The company has commenced planning of the drill program to facilitate permit application and ground access.

Chase Mining will inform the market shortly after the modelling of the Lorraine Priority 2 targets as this process progresses and the company ramps up activities leading into the drill program.

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This program will partly coincide with a site visit by company directors Leon Pretorius and Martin Kavanagh in early June.

Drilling of the Lorraine Priority 1 targets should occur in late June or early July pending permitting, access arrangements and drill rig availability.

Chase Mining will drill the Priority 2 targets following the completion of the Priority 1 drilling program based on a successful outcome.

Quick facts: Chase Mining Corporation Ltd

Price: $0.04

Market: ASX
Market Cap: $8.49 m
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Chase Mining updates the market on Canadian operations

Chase Mining Corporation Ltd (ASX:CML) director Martin Kavanagh updates Proactive Investors on recent key company announcements, particularly regarding its Canadian nickel-copper project. Among work undertaken this year is a VTEM survey over the Lorraine and ADZ project areas with the...

on 4/7/19

2 min read