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Chase Mining up again after further massive sulphides intersected at Alotta

Hole ZA-20-04 intersected a 25-metre mineralised zone from 49 metres, including two massive sulphide zones from 49 to 51 metres and 55 to 65 metres with disseminated mineralisation surrounding them.

Chase Mining Corporation Ltd - Chase Mining up again after further massive sulphides intersected at Alotta
Shares have been 23% higher to 4.8 cents in early trading

Chase Mining Corporation Ltd (ASX:CML) has hit further massive nickel sulphides in weekend drilling at Alotta Copper-Palladium-Platinum-Nickel Project in Quebec, Canada, including a 25-metre downhole mineralised zone from 49 metres.

This encouraging observation from hole ZA-20-04 included two massive sulphide zones from 49 to 51 metres and 55 to 65 metres with disseminated mineralisation surrounding them.

Another hole, ZA-20-03, which was also completed at 105 metres, intersected a zone of massive sulphide and disseminated sulphides over 4.55 metres from 70.7 metres.

Shares have been 23% higher in early trade to 4.8 cents following a strong investor response last Friday when shares doubled after intersecting massive sulphides in the first hole of this 5-hole campaign.

Follow-up to 2019 hole

The diamond drilling program is being undertaken to follow-up mineralisation surrounding a 2019 hole which returned highly encouraging results:

  • A 4.1-metre zone of mineralisation hosted in feldspar porphyry from 55.3 metres downhole assaying 5.3% copper, 4.9 g/t palladium, 0.9 g/t platinum, 0.26% nickel and 12 g/t silver;
  • A porphyry hosted ‘bonanza grade’ 0.5-metre zone of chalcopyrite-pyrrhotite massive sulphide from 55.3 metres assaying 22% copper, 34 g/t palladium, 3.5 g/t platinum and 0.78% nickel, 1.4% zinc, 65 g/t silver; and,
  • A 10.0-metre massive sulphide zone assaying 2.37% nickel and 2.38% copper from 59.0 metres.

Visual continuation

Data presented from the current program comprises information from summary quick first-pass whole core drill logs and confirms the visual continuation of the mineralisation identified in the 2019 hole.

Hole ZA-20-04 was drilled test the west strike extension of the 2019 hole while hole ZA-20-03 was drilled to test the east strike extension of that hole.

These new holes have yet to be logged, photographed, cut and sampled in detail.

Another hole, ZA-20-02, drilled as an undercut to 2020 mineralised hole ZA-20-01 did not intersect any visually significant mineralisation.

Final hole underway

Drilling of a final hole, ZA-20-05, in the current program, which is undercutting hole ZA-20-04, has commenced.

After completing this hole, the drill rig will move immediately to the Lorraine Gold Project.

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