Chalice Mining Ltd’s drilling at Gonneville intrusion defines four new high-grade zones at its Julimar Nickel-Copper-PGE Project

Chalice Mining Ltd’s (ASX:CHN) (OTCQB:CGMLF) ongoing exploration activities at its 100%-owned Julimar Nickel-Copper-Platinum Group Element (PGE) Project, about 70 kilometres north-east of Perth, WA has defined four new high-grade zones.  Ongoing step-out and resource definition drilling at the around 1.6 kilometres by 0.8 kilometres Gonneville Intrusion continues to expand the major Julimar discovery.  Assay results pending for a further 45 completed drill holes.  Chalice is fully-funded to continue its six-rig resource drill-out and comprehensive metallurgical test work program at Julimar with more than $130 million in cash. Benefit future project economics Chalice managing director Alex Dorsch said: “We’ve started the New Year with strong momentum on several fronts, with drilling at our major Julimar discovery continuing to expand the high-grade footprint of the deposit and initial on-ground activities underway to test the exciting new EM targets along strike to the north. “Drilling within the Gonneville deposit continues to deliver outstanding results and once again, we are seeing a diverse range of mineralisation styles, reflecting the sulphide-rich nature of the Gonneville Intrusion. “We have now defined four new high-grade zones (G8-G11), each returning significant wide and high-grade intersections, which is very promising. “Given the shallow nature of these zones, we expect that they may benefit future project economics. “Meanwhile, drilling into the eastern contact of the intrusion, targeting the G4 and G11 zones, has produced some interesting results, encountering discrete pods of high-grade mineralisation interpreted as being associated with potential lows in the basal contact of the intrusion, where sulphides have deposited within the magma flow. Initial activities in the Julimar State Forest commenced  “Initial activities in the Julimar State Forest have commenced, and we are eagerly anticipating first results from that work over the coming weeks. “The initial activities will determine the potential for Julimar to be a multi-deposit, world-class mineral province if our previously identified airborne EM anomalies develop into additional discoveries beyond Gonneville. On track for mid-2021 mineral resource  “With six rigs drilling and more rigs joining shortly, we are on track to meet our mid-2021 guidance for a maiden mineral resource for Gonneville and continue to prioritise the growth of the high-grade mineralised zones with step-out drilling. “We have also commenced initial resource and pit-shell modelling, which is guiding our drill pattern.” Forward plan Chalice is continuing its approach of simultaneously exploring and evaluating the zones of high-grade mineralisation and the extensive PGE-Nickel-Copper+/- gold zones associated with disseminated sulphides within Gonneville Intrusion. Ongoing and planned activities at Julimar include: Resource definition drilling –  an about 160,000 metres RC/diamond drill program is underway.  Drilling is initially being undertaken on a 40 metres x 40 metres spaced grid over the high-grade areas, which is expected to be sufficient to define mineral resources in the indicated category; Down-hole EM Geophysics – DHEM continues to play a key role in identifying potential high-grade targets for follow-up drilling and will be completed on selected holes and in areas of wide-spaced drilling; Metallurgical test work – Further sulphide flotation and oxide leach test work is underway on 200 kilogrammes of composite metallurgical samples, compiled from drill samples collected from various mineralisation styles within the intrusion; Geochemistry and Geochronology – it has engaged the Geological Survey of WA (GSWA) and a specialist consultant to conduct initial geochemical analysis and metallogenesis studies to improve  geological and mineralogical understanding of the discovery and enhance targeting capability as the company searches for similar discoveries across its large landholding in the West Yilgarn nickel-copper-PGE Province; Reconnaissance activities within the Julimar State Forest – initial wide-spaced soil sampling and Moving Loop EM programs have commenced at the Hartog EM Anomaly. Reconnaissance activities will continue over the next 1-2 months. The results will help determine whether Julimar has the potential to host multiple nickel-copper-PGE mineralised systems.