Chalice Mining has intersected a copper-silver-gold mineral system at its Deep Blue prospect in Western Australia’s Goomalling Copper Project, confirming the presence of a large-scale mineralised zone across 1.2 kilometres of strike length. The discovery emerged from the company’s first-pass reverse circulation drilling program, which tested broad geochemical anomalies identified through earlier soil and rock sampling. The mineralisation remains open along strike, suggesting the system extends beyond the currently tested area.
The most significant aspect of this result lies in the consistency and scale of the mineralisation across multiple drill lines. Chalice completed 16 holes totalling 1,874 metres of drilling across three lines spaced approximately 600 metres apart. Key intersections include 21 metres grading 0.18% copper, 0.67 grams per tonne silver and 0.03 grams per tonne gold from 50 metres depth in hole DBRC004, with higher-grade zones nested within the broader mineralisation. This style of low-grade, wide copper-silver-gold mineralisation is comparable to the nearby Caravel Copper Project, operated by ASX-listed CVV, which hosts a 3 million tonne contained copper mineral resource and has a feasibility study underway. The proximity to Caravel, approximately 15 kilometres north-west, and the similarity of mineralisation styles suggest Deep Blue may represent a significant opportunity for Chalice.
Beyond the initial copper-silver-gold discovery, Chalice’s exploration team identified high-grade rare earth element rock chips grading over 15% total rare earth oxide (TREO) that remain unexplained by the current drilling program. These rock samples may indicate structurally controlled REE mineralisation associated with east-north-east trending features that have not yet been effectively tested. This adds a secondary exploration vector to the prospect and hints at the complexity of the mineralising system. Chalice has also materially expanded its tenure position in the region, now controlling approximately 30 kilometres of strike length across the newly recognised Goomalling Copper Project. The vast majority of this expanded belt remains untested by soil sampling or drilling, presenting what the company characterises as a district-scale exploration opportunity.
Near-term catalysts include expanded soil sampling, targeted induced polarisation surveying, and follow-up reverse circulation drilling designed to test structural targets prospective for rare earth elements. This work is scheduled to commence in the fourth quarter, after the completion of the local cropping season. Investors should monitor these results closely, as they will determine whether Deep Blue and the broader Goomalling belt can support economically viable copper and rare earth element development. The discovery validates Chalice’s systematic exploration approach and strengthens its position in a region with demonstrated mineral endowment. This announcement has been flagged as price sensitive and material by the ASX.
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About Chalice Mining Limited (ASX: CHN)
Chalice Mining Limited is an explorer and developer of precious and base metals, with a primary focus on its flagship Julimar project in Western Australia. The project contains platinum group elements, nickel, copper, cobalt, and gold resources. The company maintains additional exploration interests across Western Australia and the Northern Territory, positioning itself as a developer of green metals for the energy transition.
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