Proactive Investors - Run By Investors For Investors

Chase Mining Corporation outlines new massive sulphide targets at Zeus Project

Core Geophysics has produced anomaly profiles for the Lorraine priority-2 targets and completed modelling of the Alotta-Delphi-Zullo (ADZ) anomalies.
Drill core from the ADZ project
Massive sulphides in core from the Alotta deposit

Chase Mining Corporation Ltd (ASX:CML) has outlined additional massive sulphide targets within the Zeus Project areas in Quebec, Canada, using the processing of VTEM Max survey digital data.

This work by Core Geophysics has resulted in identification of 10 priority-2 targets within the Lorraine area and four targets at Alotta-Delphi-Zullo (ADZ), including a priority-1 response over the high-grade Alotta deposit.

The helicopter borne VTEM survey has been a successful method of identifying massive sulphide conductors having delineated the historical Lorraine Mine and the high-grade Alotta deposit.

READ: Chase Mining identifies six high-priority massive sulphide conductor targets, shares up

Core has modelled the Alotta VTEM anomaly in order to assess and compare it to other VTEM anomalies within the survey area.

Lorraine VTEM anomaly locations on B-field channel.

Within the Lorraine project area 31 anomalies were defined by the VTEM survey comprising five priority-1 targets, 10 priority-2 targets, 12 priority-3 targets and four priority-4 targets.

The principal targets within the company’s claims are nickel-copper-cobalt-platinum group elements (PGE) massive sulphides associated with the basal zone of differentiated gabbro sills in the Belleterre-Angliers greenstone belt.

READ: Chase Mining shares surge after securing indicative offtake offer for topaz concentrate

The ADZ project contains the Alotta Copper-nickel-cobalt-PGE deposit as well as historical mineralised occurrences at Delphi and Zullo.

Core has interpreted and modelled final VTEM data profiles and processed images to identify anomalies representing potential bedrock conductors of interest.

They have been ranked according to anomaly strength, strike-length and magnetic signature.

ADZ VTEM target anomaly listing

Overall 11 target anomalies were defined with one high-priority target selected.

The remainder comprise three medium to low priority targets with another seven targets, which appear to be associated with cultural objects that require ground truthing.

READ: Chase Mining reveals further proof-of-concept progress in converting topaz into mullite

Toronto-based Orix Geoscience has begun interrogation and digitising of the historical geology and historical drill hole/assay data in proximity to the VTEM anomalies.

This will be completed in conjunction with Orix’s ground truthing of the priority-1 and 2 targets as well as planning of rig access.

Chase has also started planning the drill program to facilitate permit application and ground access.

Drilling of the Lorraine priority-1 targets should occur in late June or early July pending access arrangements and drill rig availability.

View full CML profile View Profile

Chase Mining Corporation Ltd Timeline

Related Articles

Etango project in Namibia
January 29 2019
Managing director Brandon Munro has outlined expected positive drivers for the sector in 2019.
Dr James Searle speaks to Proactive Investors
May 02 2019
The study is expected in the June half of 2020 and will be based on another resource update.
Ecuador flag
June 02 2019
Concurrent with the acquisition, Tempus has appointed key experts in epithermal gold exploration including non-executive director Gary Artmont and proposed chief operations officer in Latin America Rodrigo Izurieta.
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use