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.
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.