Chase Mining extends Lorraine gold diamond drilling after encouragement from first four holes

Chase Mining Corporation Ltd (ASX:CML) has extended the diamond drilling program at the Lorraine Gold Project in Quebec, Canada, after receiving encouraging results in the first four holes.

The original Footwall Contact Target Zone (FCTZ) and the newly discovered silica-carbonate alteration zones were intersected in all four holes prompting the decision to drill two new holes.

Chases original program to drill four diamond holes targeting gold in the former Lorraine Nickel Mine was already extended with the holes significantly deeper than planned to a total of 1,971 metres.

Visible gold

This was due to the silica-carbonate alteration zones and associated minor visible gold along with breccia zones intersected in Hole CM-20-02.

The presence of fine-grained visible gold in this hole at 459.8 metres in a 10-metre zone of strong silica-carbonate alteration with only minor sulphide content, allows for the visual correlation with the description of a historic high-grade intercept.

This underground hole, U-6-76, from around 1967 returned 1-metre at 53.47 g/t gold and 12 g/t silver.

The final task in the current four-hole program was to deepen Hole CM-20-01 to 489 metres from 368.5 metres and as a result, additional alteration zones were intersected.

Gold mineralisation, along with silver and possible copper, was reported from historic sampling and limited drilling associated with the 6-Level development of the nickel mine.

Deeper zone intersected

Besides intersecting the original FCTZ in all four holes, the four holes also intersected the additional deeper veining and brecciation and importantly intense siliceous alteration zones below the FCTZ.

The drilling was designed to test around 20 metres above and below the 6-Level pierce points of the FCTZ on sections about 40 metres apart to provide information for future resource drilling.

Detailed logging of the core and mark-up for cutting and sampling is in progress and once this has occurred and the drilling program is completed, all samples will be sent to the laboratory for assaying ASAP.

Locality plan for the current drill program.

Two new holes

An additional hole (CM-20-05) is underway specifically trying to pinpoint the historicRead More – Source