160 km drilling program continues, with 7 drill rigs in operation. The initial drilling program is 55% complete. 165 new high grade drill intersections reported.
94 assay results pending.
The expansion of the mineralised footprint will neccessitate an expansion of the drilling program, and delay the maiden resource estimate to late Q3 2021.
Jullimar initial drilling targeted for Q3, 2021.
Chalice Managing Director, Alex Dorsch, said: “Even after 87,000m over more than 13 months of continuous drilling, we continue to expand on 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.”
