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Chase Mining to begin latest drilling round at Canadian projects this week

Additional drilling will be undertaken at ADZ and Lorraine nickel-copper-PGE projects.

Chase Mining Corporation Ltd - Chase Mining drilling in Canada to restart this week
The company hopes to grow shareholder value with Canadian assets

Chase Mining Corporation Limited (ASX:CML) will kick off the latest round of drilling at the ADZ and Lorraine projects in Canada this week after receiving a consultant’s report from recent drilling.

Southern Geoscience Consultants’ (SGC) report combined VTEM survey data modelling and interpretation of the DHEM response in all eight diamond drill holes it has surveyed.

Queensland-based company Chase plans to test a priority shallow DHEM anomaly at Alotta-Delphi-Zullo (ADZ) project and two DHEM anomalies from hole CM-19-05 at Target 4 at Lorraine Nickel-Copper-PGE Project from this week.

A new drill campaign

Chase hopes to grow shareholder value with early-stage exploration success at the ground in Quebec it picked up a year ago with the acquisition of Zeus Minerals Pty Ltd and Zeus Olympus Sub Corp.

The company’s new drill program of about 1,000 metres will start with a deep hole to more than 300 metres to assess the two DHEM anomalies at Target 4 in Lorraine block.

Drillers hope to intersect both 220-metre and 290-metre plates and better understand the extent and style of the zinc-copper-gold anomalous brecciated sulphide mineralisation colleagues had intersected in the primary hole.

Drilling will then move onto ADZ.

The company plans to drill a shallow off-hole DHEM and hopes to link it with previously-drilled mineralisation in two holes.

Chase hopes to extend “known mineralisation based on recent geological and structural interpretation of historic drilling and evaluate the shallow DHEM anomaly.

Historical gems

Lorraine mine had bonanza-grade results of 28.04 metres at 37.42 g/t gold and 33.74 g/t silver in the 1960s.

The mine produced about 600,000 tonnes of ore and more than $100 million in metal between 1964 and 1968.

Tonnage grades were 1.57% copper, 0.62% nickel and 0.02 ounces per ton gold, with unspecified amounts of silver, platinum group elements (PGE) and cobalt.

Like Lorraine, the ADZ project is found on the company's wholly-owned Belleterre-Angliers Greenstone Belt.

Alotta is also a nickel-copper-PGE project.

Quick facts: Chase Mining Corporation Ltd

Price: 0.023 AUD

Market: ASX
Market Cap: $7.33 m

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