Chalice expects further PGE mineralisation at Julimar

The discovery was made in assay results for three new reverse circulation drill holes, JRC010, JRC011 and JRC012 in Julimar’s Gonneville intrusive.

The holes were drilled at the northern and southern end of the Gonneville intrusive, with all threes showing wide areas of PGE mineralisation.

The JRC010 intercept included assays of 137 meters at 0.57 grams of palladium per tonne, 0.14 grams of platinum per tonne, 0.14 per cent nickel and 0.10 percent copper from 58 metres.

JRC010 also had 97 metres at 0.58 grams of palladium per tonne, 0.12 grams of platinum per tonne, 0.13 per cent nickel and 0.07 per cent copper from 201 metres to end-of-hole.

Chalice highlighted that the drill holes showed similarities to the previous JRC002-009 holes, which had elevated PGE values.

The drilling results have shown more impressive PGE intersections, with the possibility for more widespread mineralisation.

“Wide-spaced RC drilling at Gonneville continues to deliver impressive PGE intersections. These new wide zones, along with the previously reported zones that have been encountered in every hole drilled to date, point to a large-scale discovery at Gonneville and highlight the prospectivity of this fertile mafic-ultramafic complex,” Chalice managing director Alex Dorsch said.

“Meanwhile, recent compilation of limited historical surface sampling results has highlighted significant areas of anomalous nickel, copper and palladium approximately 7–10 kilometres north-east of the Gonneville nickel-copper-PGE discovery, within the ~26 kilometres long Julimar Intrusive Complex.

“This is exciting and suggests more widespread mineralisation associated with the complex, and hints at the magnitude of the exploration opportunity in front of us.”

Chalice is working with a capital and investments balance of $25 million and will continue its systematic exploration programs.