Chalice Mining Ltd (ASX:CHN) (OTCMKTS:CGMLF) is a major beneficiary of S&P Dow Jones Indices rebalance by being added to the S&P/ASX 200 Index.
This change will be effective prior to the opening of trading on June 21, 2021.
In the past 12 months, the market cap of the nickel-copper-PGE explorer has increased by more than seven-fold to about A$2.46 billion.
The share price has increased from A95 cents per share on June 19, 2020, to A$7.17 on June 18, 2021.
Nickel-copper-PGE discovery
Chalice’s strong run is underpinned by its 100%-owned Julimar Nickel-Copper-PGE Project in Western Australia, where it made a nickel-copper-PGE discovery in 2020 in an emerging new resources province about an hour northeast of Perth.
Last week, a ground gravity survey and reconnaissance soil sampling has identified several extensive nickel-copper+/-palladium soil anomalies with gravity highs and, in some cases, coincident with airborne EM anomalies at Baudin, Jansz and new Drummond targets at the northern end of the Julimar Complex.
Based on the soil and gravity results at Baudin, Jansz and Drummond, initial first-pass MLEM lines are planned over the coming weeks.
This program aims to define drill-ready targets and is anticipated to be completed by the end of June.