April 27, 2022
Chalice Mining Ltd. (ASX:CHN, Not Rated, Timothy Lee) gave an update on activities during Q1/2022, including drilling at its Julimar Ni-Cu-PGE project in Western Australia. The company recently completed infill drilling and continues step-out drilling at the Gonneville deposit, with the goal of upgrading and expanding the resource. Step-out drilling has encountered mineralization ~400m beyond the resource boundary, with a recent highlight of 2.9 g/t Pd, 0.6 g/t Pt, 0.1% Ni, 0.1% Cu (1.5% NiEq) over 16m. The company has also completed eight holes at the Hartog target, located within the Julimar State Forest to the north of Gonneville, and several holes have encountered mafic-ultramafic units, albeit with limited visible sulphide mineralization. Currently the company is drilling lower-priority targets, as drilling can only be conducted from limited sites on existing tracks to limit the impact within the state forest. The company has applied for permits to allow drilling off the tracks, and 70 drill sites are planned at Hartog. In addition to drilling, Chalice has several upcoming catalysts, including an updated resource estimate anticipated in June, a scoping study scheduled for Q3/2022, and updated metallurgical work assessing the potential for battery-grade Ni-Co intermediate product, as an alternative to a Ni concentrate. As well, the company is starting drill programs on two other Ni-Cu-PGE projects in Western Australia: the South West project and the Barrabarra project. Read more
