Chase Mining Corporation Ltd (ASX:CML) has lodged an EPM application that will expand its quest for magmatic sulphides in central southeast Queensland.
EPM application 28434 Glencoe forms part of a joint venture (JV) option agreement with Auburn Resources Ltd covering the Hawkwood JV Project, a new district of potential large-scale copper-nickel-cobalt-gold-PGE (palladium and platinum) prospects.
The environmental planning and management (EPM) application covers the large Glencoe layered ultramafic intrusion which contains a large layered ultramafic body that is better exposed than the other four such bodies to the south that are within the JV.
Looking ahead, Chase plans to further delineate the Glencoe metal anomalous zone and to fly airborne EM with the aim of locating conductive nickel sulphides down to depths of about 500 metres.
Glencoe EPM application 28434 and existing Hawkwood JV project EPMs.
Previous work
Previous exploration over EPM application 28434 was carried out by Ridge Exploration Pty Ltd which identified and evaluated the gently dipping layered Glencoe ultramafic intrusive with several lines of soil sampling.
A weak but coherent zone of copper-nickel gold platinum and palladium anomalism was identified but was not closed off.
Since that time, airborne VTEM surveys flown over the mostly alluvium covered Calrossie, Quaggy and Jack Shay ultramafic intrusives in the Auburn Resources JV revealed large depth persistent conductors adjacent to the peak soil values of these diagnostic metals.
The geological geochemical and geophysical signatures are typical of major magmatic nickel sulphide deposits.