Chalice’s discovery streak continues at Julimar

According to Mining News Pro - The explorer’s most recent drilling intersected several zones of disseminated sulphide, as well as 17 metres of matrix and stringer massive sulphides containing 20 to 30 percent sulphide at 191 to 208 metre depths.

Chalice’s reverse cycle (RC) drilling also intercepted new broad zones of PGE mineralisations, confirming further widespread mineralisation within the 10.6 kilometre by 700 metre chonolith body.

Chalice acquired the Julimar asset, which has an area of over 2300 square kilometres in 2018 and is currently in the reconnaissance exploration phase.

The company’s recently revealed nickel sulphide find, which is just 70 kilometres north east of Perth sent its shares soaring from about 20 cents last month to more than $1.

In its first drill hole at the southern end of the tenement last month, Chalice hit 19 metres at 2.59 per cent nickel, 1.04 per cent copper and 8.37g per tonne palladium. All holes assayed since have intersected broad zones of significant PGEs and base metals.

PGEs are a group of six precious metals, with a wide variety of applications. Most notably, they are used as auto-catalysts (pollution control devices for vehicles), but are also used in jewellery, electronics and hydrogen fuel cells.

The company has identified two wide, high-grade zones with good grades of nickel and palladium close to surface.

Chalice plans to continue its diamond drilling program after a temporary halt to allow for a survey using a Superconducting Quantum Interference Detector (SQUID) magnetometre.

Chalice’s managing director, Alex Dorsch said the results from the third diamond hole at Julimar were “remarkable” with significant intervals of matrix and disseminated sulphides.

“Our diamond drilling program is continuing to vector towards high-grade zones and we are hopeful that the current SQUID survey will assist in targetting in this regard,” he said.

According to Dorsch, Chalice is planning to commence a large RC drilling program in the coming weeks to fully test the extend of the PGE mienralisation within the Gonneville intrusive.