CHN Announcement Significant nickel-palladium discovery...

CHN Announcement


Significant nickel-palladium discovery confirmed at Julimar New wide high-grade palladium-nickel-copper zone intersected ~60m east of the discovery hole, plus wide palladium intervals in all six drill holes assayed to date Highlights • Exciting new results received from RC drilling at the Julimar Nickel-Copper-PGE Project, ~70km northeast of Perth in Western Australia, following the recently reported discovery hole JRC001. • A new, shallow, high-grade Pd-Ni-Cu zone has been intersected in JRC006, ~60m east of JRC001 (19m @ 8.4g/t Pd, 1.1g/t Pt, 2.6% Ni, 1.0% Cu and 0.14% Co from 48m). Assay results have been received for the first 80m only and include: o 41m @ 2.6g/t Pd, 0.4g/t Pt, 0.5% Ni, 0.4% Cu and 0.03% Co from 39m (sulphide) to limit of assays, including: ▪ 31m @ 3.3g/t Pd, 0.5g/t Pt, 0.7% Ni, 0.5% Cu and 0.04% Co from 40m. o 29m @ 1.9g/t Pd and 0.4g/t Pt from surface (oxide), including: ▪ 11m @ 3.8g/t Pd and 0.7g/t Pt from surface. o The new zones are interpreted to be striking parallel to the zone in JRC001 and remain open in all directions – aligning with an early to mid-time MLEM anomaly ~200m to the south. • In addition, all six RC drill holes assayed to date have intersected broad zones of significant palladium mineralisation with associated base metals, and three RC drill holes have ended in mineralisation – confirming the large scale potential of the newly-named Gonneville Intrusive. • The Gonneville Intrusive is modelled as a ~1.6km long x ~0.7km wide chonolith (irregular shaped intrusive body) – a favourable geometry for large-scale magmatic sulphide deposits globally including Jinchuan in China and Kabanga in Tanzania. • Significant intercepts (>0.3g/t Pd) at the southern end of the Intrusive (in addition to intercepts in JRC006) include: o 33m @ 6.5g/t Pd, 0.7g/t Pt, 1.6% Ni, 0.7% Cu and 0.1% Co from 44m (JRC001); o 30m @ 0.9g/t Pd and 0.4g/t Pt from 8m (oxide) (JRC004); o 58m @ 0.9g/t Pd and 0.2g/t Pt from 132m (JRC004 – base metal assays pending); o 25m @ 1.3g/t Pd and 0.4g/t Pt from 5m (oxide) (JRC005 – base metal assays pending); and, o 60m @ 0.9g/t Pd and 0.2g/t Pt from 30m (JRC005 – base metal assays pending). • Significant new intercepts (>0.3g/t Pd) at the northern end of the Intrusive include: o 119m @ 0.6g/t Pd and 0.1g/t Pt from 124m (JRC002); and, o 142m @ 0.6g/t Pd and 0.1g/t Pt from 17m (JRC003); • The broad zones are associated with trace to c. 5-10% disseminated sulphides (pyrite, pyrrhotite, chalcopyrite) in serpentinised (altered) ultramafic.