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.
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.
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.