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neWs

Weird and

wonderful times

at Chalice

o one missed Chalice Gold Mines Ltd’s g/t palladium, 1 g/t platinum,
Nannouncement in March of its nickel 1.3% nickel, 0.6% copper,
sulphide discovery at Julimar, 70km north- 0.07% cobalt from 191.4m in
east of Perth. JD003.
The first drill hole – 19m @ 2.59% nick- “I’ve been surprised about
el, 1.04% copper, 8.37g/t palladium and our performance in the last
1.11g/t platinum from 48m in fresh rock, week, the [June 15] results
included a massive sulphide zone of 13m were good, but got lost in a Alex Dorsch
@ 3.15% nickel, 1.19% copper, 8.85 g/t sea of other opportunities
palladium and 1.09 g/t platinum – was re- plus talk globally about a second wave of moment, we put out some results [on June REGISTER NOW!
leased as the world was thrown into chaos infections,” Dorsch told Paydirt. 15] which is demonstrating we have a nice
by COVID-19. “It is kind of a two-speed speccy [sic] continuous zone of high-grade mineralisa-
Nevertheless, the significance of Juli- end, those that have the impressive results tion over about 200m strike and over 100m
mar saw Chalice well supported by major are raising money like they have never of dip extent.
institutional and sophisticated investors been able to raise before and there’s eve- “We know we have nice high-grade min-
in a $30 million raising soon eralisation around 1-1.5%
after for further RC and dia- nickel, 5-6 g/t PGEs. Our
mond drilling at Julimar and confidence after seeing those
the Pyramid Hill gold project results has gone up a notch.
in Victoria. We think Julimar is the key In our view those results are
There was no shortage “ geological feature and nothing really starting to demonstrate
of interest in Chalice’s May that we have continuity and
capital raising, with the com- else surrounding us gets us too a zone there that is really
pany reporting applications excited. I think well and truly we have hanging together. That is es-
totalling $75 million were re- sentially what we are doing
ceived. a strong foothold on the province and now, we are continuing to
After settling for $30 mil- drill out that high-grade zone
lion, the company has about we’re not paying too much attention to with a diamond rig and we
$46 million to continue test- what others are doing. have RC rigs doing a wider
ing the full extent of the spaced programme over the
1.6km-long, 700m-wide min- entire intrusive body, which
eralised system at Julimar, as is 1.6km-long. We are scop-
it looks to put together a potential maiden ryone else without the speccy results that ing out both styles of mineralisation at the
resource and forge ahead with preliminary are going further backwards. It is a funny moment, as well as doing metallurgical
metallurgical testwork and initial mining, market and hard to pin down what is actu- test work and going through the approvals
processing, environmental and economic ally happening.” process.”
scoping studies are also part of the plan. Starting 2020 at 24c/share, Chalice had Located in State Forest territory, Chalice
In the meantime, a steady stream of bolted to a high of $1.24c/share by May 20 is taking a measured approach to the ap-
drilling results will continue to be released and at the time of print was trading at 87c/ provals process at Julimar.
with an update in mid-June particularly share. “We are going to do that in a staged
pleasing Chalice managing director Alex The company’s success at Julimar has manner to get into the State Forest area
Dorsch. seen a rush of activity in surrounding areas to do some non-ground disturbing recon-
The extension of wide, high-grade PGE- by companies claiming “nearology” plays, naissance activities hopefully in the next
nickel-copper matrix zone at the Julimar however, Dorsch has no doubt Chalice few months. Then we will go back for ap-
Matrix sulphide G2 Zone, which has now has the plum position. proval to do some drilling,” Dorsch said.
been intersected in six drill holes, was re- “We think Julimar is the key geological “It is not as straightforward as going out
ported as another shot of geological con- feature and nothing else surrounding us and drilling a pastoral lease in the Eastern
fidence “in the presence of a wide, con- gets us too excited. I think well and truly Goldfields, but we have to demonstrate we
tinuous, open high-grade zone over about we have a strong foothold on the province are doing the right thing by the environ-
200m strike length”. and we’re not paying too much attention to ment and we are responsible explorers.” australiannickelconference.com
A new high-grade PGE-nickel-copper what others are doing,” he said. – Mark Andrews
matrix sulphide intercept at the Gonneville “We have three rigs on the project at the
intrusive was highlighted by 17.6m @ 5.3 To present, exhibit or attend as a delegate please contact Mitchelle Matambo
on (+61) 8 9321 0355 or email mitchelle@paydirt.com.au
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