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Chalice Discovers Copper-gold Mineralization at Warrego North Project, NT
Jun. 16, 2017 08:38AM PST
Base Metals Investing Chalice Gold Mines Limited (“Chalice” or the “Company”) (ASX: CHN) (TSX: CXN) is pleased to advise that assay results from its maiden drilling program at the Warrego North Project in the Northern Territory have confirmed the presence of potentially significant Tennant Creek-style IOCG mineralization at the Parakeet geophysical prospect. As quoted in the press release: …
Chalice Gold Mines Limited (“Chalice” or the “Company”) (ASX: CHN) (TSX: CXN) is pleased to advise that assay results from its maiden drilling program at the Warrego North Project in the Northern Territory have confirmed the presence of potentially significant Tennant Creek-style IOCG mineralization at the Parakeet geophysical prospect.
As quoted in the press release:
Tennant Creek-style IOCG mineralization confirmed at the Parakeet prospect, with maiden drill hole WND17-001 returning an intercept of 8m at 1.74% Cu and 0.42g/t Au from 249m down-hole.
Associated stringer (vein)-style mineralization and pervasive chlorite + sericite alteration adjacent to the main intercept suggests the presence of a potentially extensive hydrothermal system.
A follow-up ground Induced Polarisation (IP) survey is planned to systematically test for potential extensions to the known copper-gold mineralization and to test the broader Parakeet magnetic/gravity anomaly for additional mineralised magnetite ironstone bodies.
Additional untested robust chargeability anomaly lies ~300m north of WND17-001.
