Chalice Mining (ASX:CHN) has reported rock chip samples with rare earth grades exceeding 19% at its Deep Blue Target, near Goomalling in Western Australia.
Following new sampling and ground geophysical surveys, the company has upgraded the Deep Blue copper-molybdenum-silver-rare earth element (REE) target at its Northam Joint Venture Project.
Rock chip samples CFR500 and CFR501 returned what the company defines as ‘exceptional’ rare earth grades of 15.5% and 19.3% total rare earth oxides (TREO), respectively, alongside copper values up to 384 parts per million (ppm).
The rare earth assemblage is dominated by magnet rare earths neodymium, praseodymium, dysprosium, and terbium, plus defence-critical samarium, gadolinium, and yttrium.
The samples were collected from an isolated outcrop within a 2.5km-long copper-molybdenum-silver soil anomaly.
Peak soil sampling returned 890ppm copper, approximately 17 times background levels, with consistent silver-molybdenum association across the footprint.
The target area is largely concealed beneath residual agricultural soils with very limited outcrop expression, with the ‘source of the anomalism unknown’.
Ground gravity surveys have confirmed coincident density anomalies consistent with soil anomalism and magnetic highs, indicating a 2km-plus-scale hydrothermal mineral system.
Scanning electron microscopy analysis identified allanite, monazite, and magnetite with lesser quartz, albite, and biotite, consistent with skarn-style hydrothermal affinities.
Chalice has secured land access for a 10-hole reverse circulation program expected to commence in coming weeks, subject to approvals.
The Deep Blue Target sits approximately 15km southeast of the Caravel Copper Project, which is at Prefeasibility stage and hosts a 3-million-tonne contained copper resource.
Chalice Mining is earning 70% of the Northam Joint Venture Project through exploration expenditure.
Write to JC Villarba at Mining.com.au
Images: Chalice Mining
