leadf
logo-loader
viewChase Mining Corporation Ltd

Chase Mining plans 2020 drilling of valid Canadian exploration targets

The company is encouraged by bonanza-grade copper and palladium results at Alotta and gold results at Lorraine.

Chase Mining Corporation Ltd - Chase Mining plans 2020 drilling of valid Canadian exploration targets
Core showing bonanza-grade copper and palladium in hole ZA-19-05

Chase Mining Corporation Ltd (ASX:CML) has established valid exploration drill targets for the first half of 2020 at its Alotta nickel-copper-PGE and Lorraine precious and base metals projects in Quebec, Canada.

Following highly encouraging results from both projects, including bonanza-grade copper and palladium from Alotta and gold at Lorraine, the company is formulating further drilling and exploration plans.

At Alotta, the company’s consultant Orix Geoscience has compiled geological cross-sections and a long-section for the recently completed diamond drill program.

Bonanza grades

Hole ZA-19-05 returned a bonanza-grade intersection of chalcopyrite-pyrrhotite massive sulphide assaying 22% copper + 34g/t palladium + 3.5g/t platinum and 0.78% nickel, 1.4% zinc and 65g/t silver.

The 0.5-metre intercept from 55.3 metres was part of a wider 4.1-metre zone of mineralisation assaying 5.3% copper, 4.9 g/t palladium, 0.9 g/t platinum, 0.26% nickel and 12 g/t silver.

Significant drill intercepts listing the potential economic elements only.

New mineralisation style

This is a new style of mineralisation and mineral assemblage previously unknown at Alotta within a feldspar porphyry intrusive.

It is quite different from the usual nickel-copper-PGE-silver association of the nickel-copper massive sulphides and its recognition may indicate the discovery of additional high-grade potential at Alotta.

This bonanza zone of porphyry mineralisation is open at depth and along strike to the ESE of the drill section and may well persist outside the wireframe outline to the ESE.

There is only wide-spaced historic drilling to the ESE which will assist in the targeting of the planned follow-up 2020 drill program.

The recent seven-hole drill program for 705 metres mainly targeted extensions to known mineralisation within the nickel-copper wireframe and a shallow downhole electromagnetic anomaly.

One hole was continued to the footwall contact of the wireframe model.

Drill hole locations in the Alotta wireframe model.

Continuity confirmed

Overall the drilling confirmed the continuity of the wide zones of mineralisation intersected by the maiden 2018 drill program and intersected a number of additional high-grade nickel-copper-PGE massive sulphide zones.

One hole, ZA-19-03, indicated continuity of mineralisation within the wireframe model with a +40-metre intercept.

Future drilling

The company is now assessing these results and the importance of the bonanza-grade intersection in hole ZA-19-05 to formulate a further drill program.

The planned Alotta drilling alongside the gold drilling program at the Lorraine Nickel Mine site provides the company with very valid exploration drill targets for the first half of 2020.

Quick facts: Chase Mining Corporation Ltd

Price: 0.018 AUD

ASX:CML
Market: ASX
Market Cap: $5.74 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Chase Mining Corporation Ltd named herein, including the promotion by the Company of Chase Mining Corporation Ltd in any Content on the Site,...

FOR OUR FULL DISCLAIMER CLICK HERE

Full interview: Chase Mining leveraged to pioneering study on mullite fibre...

Chase Mining Limited's (ASX:CML) is leveraged to the pioneering research work being carried out by Professor Charles Sorrell from the University of NSW Sydney on the mullite fibre from topaz recovered from advanced tenements at the company’s Torrington Topaz and Tungsten Project in Northern New...

on 19/12/19

3 min read