CHN (ASX) Ann: Resource Drilling Delivers Growth at Julimar

Resource drilling at Julimar delivers further growth in high-grade zones
G4 and G11 high-grade zones extended to the north-east while infill drilling continues to demonstrate the large-scale resource potential of the Gonneville deposit
Highlights
·Significant new results received from the ongoing ~160,000m step-out and resource definition drilling program at the ~1.8km x >0.9km Gonneville Intrusion, which continues with 7 drill rigs.
·Drilling has expanded the G4-G11 high-grade zones to the north-east and the G1-G2 zones down-dip, while infill drilling continues to confirm the current geological interpretation:
·G4: >1,250mof strike length x up to 600m of dip extent, open north along strike and down-dip;
·G5: >650mof strike length x up to 270m of dip extent, open north along strike;
·G6: >875mof strike length x up to 450m of dip extent, open north along strike and down-dip;
·G9: >500mof strike length x up to 250m of dip extent, open along strike and down-dip; and
·G11: >1,200mof strike length x up to 300m of dip extent, open north along strike and down-dip.
·165new high-grade drill intersections (>1g/t Pd cut-off grade), with highlights including:
·13.4m @ 6.3g/t Pd, 1.1g/t Pt, 1.3% Ni, 0.7% Cu, 0.07% Cofrom 405.7m (JD032, G1 & G2);
·13m @ 4.7g/t Pd, 1.0g/t Pt, 0.4g/t Au,0.2% Ni, 2.2% Cu, 0.02% Co from 144m (JRC163, G11);
·12m @ 2.6g/t Pd, 1.4g/t Pt, 0.8g/t Au, 0.2% Ni, 0.9% Cu, 0.01% Co from 138m (JD035, G11);
·45m @ 1.7g/t Pd, 0.6g/t Pt, 0.2g/t Au, 0.1% Ni, 0.1% Cu, 0.01% Co from 216m (JD035, G4);
·29m @ 1.4g/t Pd, 0.5g/t Pt, 0.1g/t Au, 0.2% Ni, 0.1% Cu, 0.02% Co from 115m (JD039, G11);
·23m @ 1.7g/t Pd, 0.4g/t Pt, 0.2g/t Au, 0.2% Ni, 0.2% Cu, 0.01% Co from 177m (JD039, G4);
·17m @ 1.5g/t Pd, 0.2g/t Pt, 0.3g/t Au, 0.2% Ni, 0.4% Cu, 0.02% Co from 207m (JD039, G4); and,
·5m @ 2.5g/t Pd, 0.9g/t Pt, 0.1g/t Au, 0.2% Ni, 0.2% Cu, 0.02% Co from 67m (JRC148, new zone).
·Assay results pending for a further 94 completed drill holes.
·Given the growth in mineralised footprint, the quantum of resource drilling required to define the discovery is expected to increase and a maiden Mineral Resource Estimate is now anticipated in late Q3 2021.
·Recent land purchases mean the resource drill-out can proceed without access constraints.
·Reconnaissance exploration and environmental surveys in the Julimar State Forest are continuing, initial drilling targeted for Q3 2021, subject to access approvals.
·A Study Manager for the Project has been appointed and Chalice continues to build its internal management and technical capabilities.
Chalice Managing Director, Alex Dorsch, said: “Even after 87,000m over more than 13 months of continuous drilling, we continue to expand of the footprint of our major Julimar discovery; a quite remarkable result that demonstrates the potential world-class nature of the discovery.

“The new intersections at the north-east extension of Gonneville are promising, as the previously identified discrete pods of high-grade mineralisation appear to be associated with a newly identified pyroxenite host unit. This new ultramafic unit appears to continue further to the north-east, and the recently secured property acquisitions will allow us to test this potential shortly.

“Given the continued expansion of the Gonneville deposit, in particular the growth of the high-grade zones, the quantum of drilling required to define the maiden Mineral Resource is likely to grow. We are now anticipating resource definition drilling will continue into Q3 2021 and the maiden Mineral Resource will be released in late Q3 2021.

“Concurrently with the 7-rig resource drill-out, we are continuing our comprehensive metallurgical testwork program on both the sulphide and oxide mineralisation, and we have commenced several other preliminary studies that will guide the scoping and feasibility stages.

“We are also nearing completion of initial on-ground activities within the Julimar State Forest to the north of Gonneville. Flora and fauna surveys are currently underway in the area, ahead of proposed initial drilling, which is targeted for Q3 2021, subject to access approval.”
Click on the below link to read the full announcement, complete with figures and data.
Gonneville 3D View (looking North-West) – high-grade G1-G11 zones and new drill intersections
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Read the ASX Announcement here