Chalice Gold Mines has reported significant new drilling results at its Julimar nickel-copper-PGE project 70 kilometres northeast of Perth in Western Australia.
The discovery is a shallow, high-grade palladium-nickel-copper zone intersected about 60 metres east of a previously reported nickel-copper palladium sulphide zone.
Chalice’s reverse circulation (RC) drilling results from the first 80 metres of the new intersection included 41 metres at 2.6 grams per tonne palladium, 0.4 grams per tonne of platinum, 0.5 per cent nickel, 0.4 per cent copper and 0.03 per cent cobalt from a depth of 39 metres.
The new zone is interpreted to be striking parallel to the zone in the previous discovery
hole and remains open in all directions.
Another six RC holes assayed have all hit broad zones of palladium and associated base metals, with three ending in mineralisation.
Chalice reported the intersections have geological similarity to large-scale magmatic sulphide deposits globally, including Jinchuan in China and Kabanga in Tanzania.
“Importantly, levels of potentially deleterious elements including arsenic, cadmium and
selenium are all low in the holes drilled to date,” the company stated.
Chalice managing director Alex Dorsch said activities at Julimar had ramped up significantly since the company’s initial discovery hole.
He believes the exciting new results confirmed that the company appeared to have a very large palladium-nickel discovery on its hands, with associated platinum, copper and cobalt.
Chalice owns 100 per cent of the 2400 square kilometre Julimar project, which sits on a 26 kilometre by seven kilometre layered ultramafic-mafic intrusive complex that is largely under cover and has never been explored for nickel.
“The discovery at Julimar has demonstrated that this region is a new nickel-copper-PGE province and regional activities are also now being planned,” Dorsch said.
Chalice plans to continue RC drilling to test new targets, as well as to step-out around known zones of mineralisation.