leadf
logo-loader
viewChalice Mining Ltd

Chalice Gold Mines successes set ‘very strong platform’ to continue growing

“We have another very exciting year ahead of us, and I look forward to ongoing success in 2021,” chairman Tim Goyder tells AGM.

Chalice Gold Mines Ltd - Chalice Gold Mines successes set ‘very strong platform’ to continue growing
Seven rigs are drilling across Chalice’s key projects.

Chalice Gold Mines Limited’s (ASX:CHN) (OTCMKTS:CGMLF) (FRA:C8U) successes of the past year have set a very strong platform for the company to continue growing on the back of its world-class multi-commodity discovery at Julimar, 70 kilometres northeast of Perth, Western Australia.

Describing 2020 as “remarkable”, chairman Tim Goyder told shareholders at the company’s annual general meeting today: “We have another very exciting year ahead of us, and I look forward to ongoing success in 2021.”

Achievements despite challenges

He said the company’s aspiration to deliver a major greenfield mineral discovery had been achieved with the Julimar Nickel-Copper-Cobalt-PGE project.

Goyder added: “This achievement is made all the more satisfying because of its truly home-grown origins – being located right here in Western Australia and 100%-owned by a proud WA-based exploration company.

“All of this was achieved despite the unprecedented challenges presented this year by the COVID-19 pandemic.”

Chairman Tim Goyder.

The chairman said: “I am pleased to say that the Chalice team adapted quickly to this challenge and, most importantly, continued to remain safe and fully operational.
“Despite these globally challenging times, it has been very fulfilling to see the Julimar discovery capture both industry and investor support across the globe.  “

“Stunning” market capitalisation growth

He said Chalice’s achievements this year were also a reminder of the pivotal role which the mining industry had played in helping to steer Australia through this difficult period. 
Goyder also noted the “stunning growth in market capitalisation” during the year, which now sits at approximately $1.149 billion, with the world-class multi-commodity discovery at Julimar underpinning a 2,200% increase in share price from this time last year.

Julimar project

Last week, Chalice Gold Mines intersected further extensive wide zones of PGE-copper-gold at the Gonneville Intrusion at the Julimar discovery.

Chalice managing director Alex Dorsch said: “The Gonneville PGE-nickel-copper-cobalt-gold discovery continues to grow on multiple fronts, with another round of exceptional drill results extending the known high-grade zones, defining new zones and further reinforcing the numerous growth opportunities across the project.

“Given the width and grade of the drill results we are continuing to see over a very large area, the scale of the Gonneville Intrusion itself, and the significant growth potential beyond the limits of the current resource drilling, it is clear that Julimar is emerging as a globally significant deposit of critical metals in Western Australia.”

Managing director Alex Dorsch.

The company has three reverse circulation and two diamond rigs continuing a step-out and resource definition drill program at the Gonneville Intrusion, where a major high-grade PGE-nickel-copper-cobalt-gold discovery was made in March 2020.

It is aiming for a maiden mineral resource estimate in mid-2021.

Quick facts: Chalice Mining Ltd

Price: 4.64 AUD

ASX:CHN
Market: ASX
Market Cap: $1.59 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Chalice Mining Ltd named herein, including the promotion by the Company of Chalice Mining Ltd in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Oakdale Resources acquires “rich ground” in emerging WA PGE-nickel-copper...

Oakdale Resources Ltd (ASX:OAR) has finalised the acquisition of a project that is in proximity to the recent high-grade Julimar nickel-palladium discovery of Chalice Gold Mines Limited (ASX:CHN). Executive chairman Chris Gale tells Proactive that the “transformative” Crown project...

on 11/5/20

3 min read