Chase Mining Corporation Ltd (ASX:CML) has welcomed the completion by Red Fox Resources Pty Limited of diamond drilling at the Gipsy Creek Project in the copper-gold rich Cloncurry district of northwest Queensland.
The company holds 40% of Red Fox, which carried out the three-hole diamond drilling program funded by a Queensland Government CEI grant at the project around 18 kilometres northeast of the Ernest Henry mine.
Red Fox also drilled one additional self-funded hole in the program to test a separate geophysical (chargeability) anomaly known as Romany lying 1-kilometre west of the Gipsy Creek structure.
Logging and core cutting progressing
Logging of the holes and core cutting is in progress. Half core samples are being selected and sent to the laboratory in Mt Isa for analyses.
Drilling results and analyses will be released to the market in due course.
Seeking topaz research project partner
Meantime, Chase Mining subsidiary Topfibre Pty Ltd has completed a collaborative topaz research project with the University of New South Wales, with the company deciding to seek a financial or commercial partner to progress its proof-of-concept outcomes with the best commercial application potential.
The research was co-funded through an Australian Research Council (ARC) Linkage Grant, with the aim to develop the means of fabricating single-crystal mullite fibres from topaz sourced from the large Torrington deposit in NSW that are suitable for reinforcement of metal and ceramic matrix composites.
As single-crystal mullite is the most sought-after fibrous additive but is not available commercially, CML expects to attract an immediate clientele in laboratories and companies servicing the aviation industry and the military.
Notably, a secondary commodity, which will utilise all of the fluorine by-product, is sodium silicofluoride, which is used widely in water fluoridation.