July 29, 2021
Chalice Mining Ltd. (ASX:CHN, Not Rated, Timothy Lee) provided an update on its Q2/21 activities. The 160,000m resource delineation drilling program continues at the company’s 100%-owned, Julimar Ni-Cu-PGE project in Western Australia, of which 125,000m (~78%) has been completed to date. Drilling so far has consisted of infill and step-out drilling on the Gonneville Intrusion, expanding mineralization to the northeast (read more). A maiden resource estimate for Gonneville is expected in Q4/21, and a scoping study is planned for H1/22. Permitting for the Hartog target, a Gonneville look-alike in the Julimar state forest, is still underway, with drilling expected to commence at the end of Q3/21 (upon the receipt of permits). Additionally, the spin-out and IPO of Chalice’s Au assets, including Pyramid Hill, is progressing as planned (read more), with the transaction expected to close in Q4/21. With ~A$100M cash on hand, Chalice remains well funded to complete all of its exploration and drilling programs in 2021. Read more
