• September 29, 2021

Gonneville high-grade zones extended at depth

Published on September 29th, 2021

Chalice Mining Limited (“Chalice” or “the Company”, ASX: CHN | OTCQB: CGMLF) is pleased to report significant new drilling and metallurgical testwork results from ongoing exploration and evaluation activities at its 100%-owned Julimar Nickel-Copper-Platinum Group Element (PGE) Project, located ~70km north-east of Perth in Western Australia.

The step-out and resource definition drill program at the >1.9km x 0.9km Gonneville Deposit is continuing with six rigs. A total of 160 diamond drill holes and 420 RC drill holes (including RC precollars with diamond tails) for ~155,000m have been completed to date at the Project.

Assay results have now been reported for 132 diamond and 365 RC holes (including RC pre-collars with diamond tails). New results have been received for drilling targeting:

« The high-grade G4, G6, G7 and G11 zones at the eastern (footwall) contact between the Gonneville Intrusion and surrounding meta-sediments;
« Infill and down-dip extensions to the high-grade G1-G9 zones; and,
« The non-magnetic pyroxenite and leucogabbro-rich north-western part of the Gonneville Intrusion.

Within the 113 new drill holes reported in this announcement, there are:

« 282 mineralised intervals (>4m width and >0.3g/t Pd cut-off grade);
« 216 high-grade Pd +/- Pt-Au-Ni-Cu-Co mineralised intervals (>2m width and >1g/t Pd cut-off grade), including:
« 52 high-grade Pd-Ni-Cu +/- Pt-Au-Co intervals (>2m width, >1g/t Pd and >0.5% Ni+Cu cut-off grade).

All released assay results have now been finalised and provided to CSA Global, who are completing the maiden Mineral Resource Estimate (MRE) and a pit-shell optimisation study for MRE reporting purposes. The maiden MRE is expected to be released in mid Q4 2021.

Assay results are pending for a further 85 completed drill holes, with lab turnaround times currently averaging around four weeks.

In addition to ongoing resource definition drilling, the Company has advanced metallurgical testwork on both the sulphide and oxide mineralisation at Gonneville. Further results have been received from locked cycle flotation testwork on high-grade and disseminated sulphide composites as well as from leach testwork on oxide composites.

Dieback and confirmatory Spring flora surveys have been completed across the Hartog-Baudin Targets in the Julimar State Forest. Results have informed final environmental management requirements for drilling and have not resulted in any significant changes to the planned drilling program.

Cultural heritage surveys commenced in early September at the Hartog-Baudin Targets and are expected to be completed in early October.

Read full Announcement

SOURCE: Chalice Mining Limited
DATE: September 28, 2021

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