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Chase Mining logs further visible gold in diamond core from Lorraine

Reassessment of the core has resulted in fine-grained visible gold being observed once in hole CM-20-01 and a further three times in CM-20-02.

Chase Mining Corporation Ltd - Chase Mining logs further visible gold in diamond core from Lorraine
Fine-grained visible gold at 511.8 metres downhole in hole CM-20-02

Chase Mining Corporation Ltd (ASX:CML) has further enhanced the gold potential of the Lorraine Mine Gold Project in southwest Quebec, Canada, with more visible gold logged in diamond drill core.

Following detailed logging of holes CM-20-01 and CM-20-02, further fine-grained visible gold has been reported in hole-1 at 485.5 metres downhole and in hole 2 at 508.7, 511.6 and 511.8 metres downhole.

This is in addition to the fine-grained visible gold reported last month in hole-2 at 459.8 metres downhole.

Shares higher

Shares have been as much as 12% higher to 3.1 cents.

The company recently completed a diamond drilling program targeting the gold (plus copper and silver) mineralisation reported from historic sampling and limited drilling associated with the 6-Level development of the Lorraine Nickel Mine.

Core reassessed

Recognition of widespread silica-carbonate alteration and different ages of structural related veining and minor sulphides plus minor visible gold in these zones resulted in a decision to reassess holes already logged and sampled.

This process has resulted in a minor delay in delivery of any samples for assay.

The fine-grained gold was observed during detailed logging of holes 1 and 2 with one observation in the first and three in the second in addition to the original visual identification.

Hole CM-20-06 fully logged

Hole CM-20-06 is the first to be fully logged, photographed, cut and sampled with this core scheduled for delivery to ALS in Sudbury on Tuesday.

A total of 388 mostly 1-metre-long samples covering 376 metres of the 456 metres total depth were selected for assay, which equates to about 83% of the core being sent for assay.

To hasten processing of the remaining five holes, the company has arranged for a second core-cutting and sampling crew to assist from today.

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Market: ASX
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