Chalice Mining Ltd (ASX:CHN, OTCQB:CGMLF) has unearthed a new nickel-copper-platinum group element (PGE) sulphide zone in maiden drilling at Dampier target, 10 kilometres north of the Gonneville deposit within the Julimar Nickel-Copper-PGE Project in Western Australia.
The new zone of mineralisation revealed in drill hole HD013 is between 15 and 80 metres wide, averaging 1-3% sulphides from the base of oxidation (67.6 metres deep) to 212.4 metres of depth, extensively crosscut by narrow dolerite dykes.
These dolerite dykes host intervals of disseminated to heavily disseminated sulphides, in sections of 4.2 metres, 5.8 metres and 6.4 metres at varying depths from 191.4 metres to 208.6 metres.
A portable x-ray fluorescence (pXRF) spot measurement confirmed the presence of nickel and copper mineralisation within the sulphide intervals, although laboratory assays will be needed for final confirmation of grades.
CHN shares were as much as 16% higher to A$4.35 while the company's market cap is approximately A$1.49 billion.
Dampier target details
Two other drill holes intersected sulphides within the Dampier target.
HD010 hit a zone of 50 metres in width, host to weakly disseminated sulphides from 456 metres depth which contained minor zones of matrix sulphides, including an assay of:
- 3.2 metres at 0.71 g/t palladium + platinum + gold (3E), 0.10% nickel, 0.06% copper and 0.01% cobalt from 454.8 metres.
HD009 also intersected anomalous nickel-copper-PGE mineralisation from 306 metres depth within a 15-metre interval of weakly disseminated sulphides (1-2%) which Chalice has interpreted to be the outer north-eastern limit of the target zone.
Down-hole electromagnetic (DHEM) surveying in HD009 and HD010 has also revealed the presence of off-hole conductors that correlate with the heavily disseminated/matrix zone in HD013.
Chalice has so far defined the Dampier target over a strike of 350 metres, with a down-dip extent of 250 metres, remaining open in all directions.
It correlates with a 1,000-metre-long magnetic high and nickel-chromium soil anomaly with a very subtle electromagnetic (EM) response, offering an opportunity for further discoveries.
The company will continue to drill test for strike and dip extensions under existing approvals and permits.
Further drilling work
Chalice says the combination of sulphide zones and EM conductors highlight the prospectivity of this area, an untested 30-kilometre-long section of the Julimar Intrusive Complex, and has identified several targets along strike for immediate drilling.
Of 70 planned sites, 13 have now been drill tested at the Hartog-Dampier targets to date with four diamond drill rigs in operation on-site.
Chalice's low-impact exploration program is using small footprint diamond drill rigs that don’t involve mechanised clearing of vegetation or excavation.
The company emphasises that comprehensive flora, fauna and culture heritage surveys and monitoring are being used according to industry best practice and the project works are strictly governed by a Conservation Management Plan approved by the WA Government in late 2021.