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Chase Mining reaches 248 metres in diamond hole at Canadian gold project

The first 2020 hole at the Lorraine project is targeting gold mineralisation between 310 and 340 metres downhole.

Chase Mining Corporation Ltd - Chase Mining reaches 248 metres in diamond hole at Canadian gold project
The diamond rig being used in drilling at Lorraine and Alotta in Quebec

Chase Mining Corporation Ltd (ASX:CML) is continuing its initial 2020 diamond drill hole at the Lorraine Mine Gold Project in Canada with visual logging of the core expected to be reported on Monday, July 6.

The hole, which is targeting gold mineralisation between 310 and 340 metres downhole was at 248 metres last night.

Pending no breakdowns, the hole will be completed, surveyed and the core visually logged and reported next Monday.

Shares higher

This program, which follows a 5-hole diamond drill campaign at nearby Alotta project, is targeting gold plus copper and silver mineralisation reported from historic sampling and limited drilling associated with the 6-Level development of the Lorraine Nickel Mine.

Shares have been as much as 24% higher to 3.7 cents intra-day and are up from 1.2 cents at close on June 15 on the back of strong newsflow.

Topaz mullite fibre research

Chase Mining’s wholly-owned subsidiary Topfibre Pty Ltd is also progressing a topaz mullite fibre research project being undertaken in conjunction with the University of New South Wales (UNSW).

Topaz, which is sourced from Chase Mining’s Torrington Topaz and Tungsten Project in northeast NSW, is an alumina silicate mineral that given its hardness can be used in abrasive applications.

It can also be used to produce castable mullite and possibly to produce mullite fibre for use as a filler and reinforcing in composite materials.

Proof-in-concept progress

The most recent report from the UNSW contains further evidence of proof-in-concept progress in the production of mullite fibre from topaz and other advances made, including metal infiltration of mullite preforms.

Quick facts: Chase Mining Corporation Ltd

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Market: ASX
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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

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