Chalice Julimar's project

Chalice Mining increases indicated resource at Julimar’s Gonneville deposit by 25%

Chalice Mining (ASX:CHN) reports a 25% increase of Indicated resources at the Gonneville deposit, the first discovery at its 100%-owned Julimar Nickel-Copper-Platinum Group Element (PGE) project in Western Australia.

The proportion of Indicated category resources has increased from 45% to 70% of the total. Step-out drilling has also continued to evaluate the broader extent of mineralisation.

The large-scale PGE-Ni-Cu-Co-Au deposit is entirely located within Chalice-owned farmland and remains open to the north and at depth.

Since the maiden resource was reported in November 2021, drilling at the polymetallic Gonneville deposit has largely been focused on shallow infill, to improve the confidence level of the resource from the Inferred category to Indicated.

The drilling and remodeling has resulted in a 5% increase in the resource mass and contained nickel equivalent metal relative to the maiden estimate.

Chalice reports that the Gonneville Scoping Study for an initial stage of mine development at the project is progressing well and expected to be completed in Q3 2022.

Commenting on the updated resource, Chalice Managing Director Alex Dorsch said: “The work we have completed since publishing our maiden Resource in November last year continues to demonstrate the world-class endowment, scale and quality of the Gonneville deposit.

this resource update has resulted in a significant increase in the higher-confidence Indicated resource

Apart from further increasing the contained metal, this resource update has resulted in a significant increase in the higher-confidence Indicated resource – which now represents (about) 70% of the total.

Importantly, 90% of the resource above a depth of 250m is now classified as Indicated, which represents a major de-risking step for the project. The Indicated component of the resource will underpin the Scoping Study, which is progressing well and due for completion in Q3 2022.

The continued growth in the higher-grade sulphide component – both in an expanded open pit optimisation and, significantly, in our first reported underground resource, further enhances the significant development optionality of the Deposit.

It is also evident from recent exploration results that there is enormous growth potential both at depth at Gonneville and along the effectively untested Julimar Complex to the north.

While we already have a tier-1 scale deposit which has the potential to underpin a world class, long-life green metals project, the resource base is expected to continue to grow.”

This increase in resource is largely due to a range of reasons including the Resource pit shell increasing in size in the northern portion of the deposit as a result of infill and extensional drilling; the resource pit shell expanding along its western edge, due to extensional drilling in the west of the deposit undertaken since the last resource; and the inclusion of mineralisation in an underground category, outside the pit shell, within Mineable Stope Optimiser (MSO) shapes (maiden resource was constrained to a pit shell only).

The ‘robust nature’ of the resource includes a mix of oxide, transitional and sulphide mineralisation, which is reported at two different cut-off grades to highlight the scale and development optionality the deposit affords.

The 100%-owned Julimar Project is located about 70km north-east of Perth in Western Australia. The greenfield project was staked in early 2018 as part of Chalice’s global search for high-potential nickel sulphide exploration opportunities.

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Written By Adam Orlando Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.