Welcome to Chase Mining Corporation Limited
Overview and Strategy
Chase Mining Corporation Limited (Chase Mining or the Company) (ASX:CML) is an Australian-based minerals development and exploration company with projects in Canada and Australia.
- In Canada, the Company is focussed on Ni-Cu-PGE and Gold exploration in Southwestern Quebec having successfully intersected high-grade Ni-Cu-PGE massive sulphides at the Alotta prospect. Further drilling is planned.
- Nearby, the Company is assessing the gold potential at depth of the historic Lorraine Ni-Cu-PGE mine.
- In Australia, the Company has an advanced Topaz-Tungsten project in northern NSW where it is focussed on production of clean concentrate for industrial minerals and beneficiation in the specialist metals/ceramic markets.
Canada: The Company through its wholly owned Canadian subsidiary Zeus Olympus Sub Corp is pursuing a multi-commodity programme which is focused on advancing its 100%-owned Belleterre-Angliers Greenstone Belt (BAGB) nickel-copper-PGE and gold projects in Southwestern Quebec.
The Company’s first drill programme in Canada (ASX 8 October 2018) at the Alotta Prospect successfully intersected significant widths of 2-3% Ni, + 2% Cu, 0.1% Co and 2-3g/t PGE (ASX 13 November). Further drill programmes in 2019 continued to highlight the potential of the Alotta prospect with a bonanza copper + palladium intercept (ASX 16 December 2019) returned at relatively shallow depth, namely:
- A spectacular ‘bonanza grade’ 0.5mintersection of chalcopyrite – pyrrhotite massive sulphide hosted in feldspar porphyry assaying 22% Cu + 34g/t Pd + 3.5g/t Pt and 0.78% Ni, 1.4% Zn, 65g/t Ag was returned from Hole ZA-19-05 from 55.3m;
- This forms part of a wider 4.1m zone of mineralisation assaying 5.3% Cu, 4.9g/t Pd, 0.9g/t Pt, 0.26% Ni and 12g/t Ag; and,
- More important is the recognition that the intercept may represent a new style of mineralisation and mineral assemblage related to the late-stage porphyry intrusive bodies at Alotta.
The Company plans to drill four additional core holes from the 2019 CM-19-05 drill pad targeting the copper + palladium mineralisation once the current Covid-19 restrictions are lifted and access is granted.
Evaluation of historic data from the Lorraine Project area has outlined the gold potential of the district centred on the Lorraine Cu-Ni Mine where high-grade gold veins were sampled during the drift development in the footwall to the Cu-Ni mine in the 1960’s. The Company plans to undertake a +2,000m diamond drill programme targeting the gold rich zones once Covid-19 restrictions are lifted and access is granted
- 28m at 45.24g/t Au, 41g/t Ag and 3.19% Cu channel sample on the 601 W; and,
- 9.4m @ 14.12g/t Au, 22g/t Ag and 3.16%Cu channel sample on the 601 W drift.
In addition, the collar location of underground hole U-6-76 was confirmed on the 601 S crosscut. The hole returned an intersection of:
- 1m @ 53.47g/t Au and 12g/t Ag, located ~12m below the 28m channel sample.
Australia: The Company through its wholly owned subsidiary Torrington Minerals Pty Ltd is progressing the development of its Torrington Topaz-Tungsten Project in northern NSW with a Mining Lease application and a well-advanced Environmental Impact Studies in place . In addition, through its wholly owned subsidiary Topfibre Pty Ltd, the Company is involved a 3-year Federally ARC Linkage grant funded UNSW collaboration Topaz research project into the production of mullite fibre from topaz until ends 2020. There has been constant reported progress with quantifiable results and proof-of-concept being achieved on several goals.
It is the Company’s dual strategy to unlock value for shareholders through early stage exploration success in Canada (for Ni-Cu-PGE and gold) and through the continuation of the development of the Torrington Topaz-Tungsten deposit in Australia.