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Chase Mining to focus on Alotta and Lorraine drilling programs in Canada post-COVID-19

Snapshot

Post COVID-19 drilling at Alotta project will focus on a new style of late-stage porphyry mineralisation and a bonanza-grade copper plus palladium dominant mineral assemblage previously not known to occur in the area.

Chase Mining Corporation Ltd - Chase Mining to focus on Alotta and Lorraine drilling programs once COVID-10 situation eases

Quick facts: Chase Mining Corporation Ltd

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ASX:CML
Market: ASX
Market Cap: $5.1 m
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Chase Mining Corporation Ltd (ASX:CML) is well-placed to continue progressing its primary Canadian projects towards development when COVID-19 restrictions are eased.

While drilling activities at the Alotta-Delphi-Zullo (ADZ) and Lorraine projects in Quebec, Canada, have been deferred due to the pandemic and its travel restrictions, non-site-specific activities continue with staff working from home or remotely.

Prior to COVID-19, the company had been planning additional drilling at both the Alotta and Lorraine projects, which was due to start in the current quarter, subject to weather and access constraints.

Once the situation returns to normal, the company plans to test the new style of late-stage porphyry mineralisation as well as a bonanza-grade copper and palladium dominant mineral assemblage at the Alotta polymetallic project.

High-grade polymetallic assays

This new discovery relates to a 4.1-metre zone of mineralisation hosted in feldspar porphyry from 55.3 metres in hole ZA-19-05, which returned assays of up to 5.3% copper, 4.9 g/t palladium, 0.9 g/t platinum, 0.26% nickel and 12 g/t silver.

Included in this result is a bonanza grade 0.5-metre intersection of chalcopyrite assaying 22% copper, 34 g/t palladium, 3.5 g/t platinum, 0.78% nickel, 1.4% zinc and 65 g/t silver.

Lorraine gold potential

At the Lorraine Mine drilling will revolve around the reported unmined high-grade gold potential at and below 250 metres in mine workings.

On March 2, Orix Geoscience Canada was commissioned to complete the scope of works (SOW) for the Lorraine project, which included the compilation of all historical mine data (1964-1968) and digitisation of associated drilling.

Orix’s examination to date has resulted in the location of the high-grade channel sampled intervals on the 6-Level - 601W drift, namely: 28 metres at 45.24 g/t gold, 41 g/t silver and 3.19% copper as well as 9.4 metres at 14.12 g/t gold, 22 g/t silver and 3.16% copper.

The collar location of underground hole 6-U-76, which intersected 1-metre at 53.47 g/t gold and 12 g/t silver has been confirmed.

Importantly this places the mineralised intercept approximately 12 metres below the 6-Level 28-metre channel sample.

Torrington Topfibre research project

Meanwhile, a three-year research program focused on the Torrington Topaz and Tungsten Project in northern NSW and conducted by wholly-owned subsidiary Topfibre Limited, is continuing although laboratory work is being hampered due to COVID-19 restrictions.

This research work is being carried out by Professor Charles Sorrell from the University of NSW Sydney on the mullite fibre from topaz recovered from advanced tenements at Torrington.

Chase Mining has received the Secretary’s Environmental Assessment Requirements (SEARS) for preparation of the Environmental Impact Statement (EIS) from the NSW Department of Planning and Environment the Department of Planning, which will be dealt with over the coming weeks.

Cash position

The company ended the March quarter with $1.263 million cash at bank and so far this quarter shares have traded in the range of 0.7 cents to 1.7 cents.

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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