viewChase Mining Corporation Ltd

Chase Mining focused on advancing projects in Quebec, Canada

The company completed a 7-hole diamond drill program at the Alotta project for 705 metres as well as one 321-metre deep hole at Lorraine Target 4.

Chase Mining Corporation Ltd - Chase Mining Corporation intersects additional nickel-copper-PGE zones in December 2019 quarter
Alotta drilling has confirmed the continuity of wide zones of mineralisation intersected by the maiden 2018 drill program

Chase Mining Corporation Ltd intends to primarily focus its 2020 exploration on the Alotta and Lorraine projects in Quebec, Canada, after successful campaigns in the December quarter of 2019.

The Alotta drilling program confirmed the continuity of wide zones of mineralisation and intersected additional nickel-copper-platinum group elements (PGE) massive sulphide zones.

This program targeted extensions to mineralisation within the known constraints of the main nickel-copper-PGE mineralised body, tested the interpreted Alotta deposit position, a shallow electromagnetic plate and the potential WNW extension of the main body.

Last month the company discovered a new type of mineralisation previously not known to occur in the late-stage porphyry instrusive bodies at Alotta.

Hole ZA-19-05 intersected a 4.1-metre zone of mineralisation form 55.3 metres returning 5.3% copper, 4.9 g/t palladium, 0.9 g/t platinum, 0.26% nickel and 12 g/t silver.

This included a ‘bonanza grade’ intersection (below) of chalcopyrite-pyrrhotite massive sulphide hosted in feldspar porphyry assaying 22% copper, 34 g/t palladium, 3.5 g/t platinum, 0.78% nickel, 1.4% zinc and 65 g/t silver.

In the southern sector of the Lorraine project area diamond drill hole CM-19-08 drilled to test a downhole EM anomaly associated with the Target 4 Priority 1 VTEM anomaly.

The hole returned a narrow gold and silver intersection with anomalous zinc and lead values including 1.34 metres at 3.51 g/t gold, 10 g/t silver, 0.31% zinc and 0.5% lead from 99.39 metres in the hanging wall to an extensive sulphidic banded iron formation (BIF) unit.

These results, together with an initial database review, indicated that the western extension of the Lorraine project claims have an increased potential to host gold, silver and base metal mineralisation as evidenced by historic diamond drilling and various airborne and ground EM survey data.

Chase applied for 37 claims contiguous to the west of the Target 4 VTEM anomaly and the Lac des Bois Sud zinc prospect of which 35 claims have been granted to date.

Reinterpretation of geophysical data

The company engaged Barry Bourne of Terra Resources Pty Ltd to reinterpret the historical and CML acquired VTEM as well as other geophysical anomalies that did not meet the company’s previous consultants’ priority-1 criteria.

Terra's review recommended that a few low-order anomalies warranted follow-up by surface prospecting and ground EM, followed by possible drilling if prospective host rocks and any substantial anomalies are identified.

Torrington Topaz-Tungsten Project

Chase is awaiting final feedback on the Background Paper for the Torrington Topaz and Tungsten Project in northern NSW that was lodged with the NSW Department of Planning and Environment on September 25, 2019, prior to advancing the MLA and EIS process.

With the Topfibre–UNSW ARC Research Project on topaz from Torrington research has recently become more focused on perfecting topaz mullite fibre preforms suitable for metal infiltration.

This work is ongoing with the aim to prepare the findings for possible lodgment of a patent application or applications pending successful experimentation results.

Quick facts: Chase Mining Corporation Ltd

Price: 0.028 AUD

Market: ASX
Market Cap: $8.92 m

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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