The company is undertaking an aggressive drilling program at its two projects in southwest Quebec, Canada.
() has started the next step in its aggressive Canadian exploration program with diamond drilling underway at the Lorraine Gold Project.
Drilling of hole CM-20-01 is underway targeting gold plus copper and silver mineralisation between 310 and 340 metres downhole.
This mineralisation was reported from historic sampling and limited drilling associated with the 6-Level development of the Lorraine Nickel Mine in southwest Quebec.
Alotta program completed
The Lorraine drilling follows the completion earlier this week of a 5-hole diamond drill program at the nearby Alotta Copper-Palladium-Platinum-Nickel Project during which massive sulphides were intersected.
Stope development at the Lorraine gold mine was put on hold during 1966 due to a drop in metal prices and the Levels 3 and 4 ore becoming poor in nickel and richer in copper.
Development work did, however, continue on Levels 5 and 6 to provide drill access to the ESE plunging nickel-copper ore zone.
Gold mineralisation was reported in the 5 and 6-Level drift development during this time.
Only gold assay data from the 6 Level is currently available to the company.
Orix Geoscience Canada in conjunction with CML completed a compilation of all the historic Lorraine Mine gold data (1964–1968) and digitisation of associated drilling.
This resulted in the accurate location of the high-grade gold mineralisation in channel sampled intervals on the 6-Level 601W drift, at about 300 metres vertical depth.
High-grade channel samples
The initial Lorraine program of four holes will target the high-grade channel sampled intervals on the 6-Level – 601W drift.
Previous results were 28 metres at 45.24 g/t gold, 41 g/t silver and 3.19% copper; and 9.4 metres at 14.12 g/t gold, 22 g/t silver and 3.16% copper.
Additionally, a previous underground hole intersected 1-metre at 53.47 g/t gold and 12 g/t silver about 12 metres below the 6-Level 28-metre channel sample.
Potential gold system
From the data compilation and interpretation, there appears to be potential for a gold mineralised system within the footwall of the copper-nickel massive sulphide lens and the new drilling will test this.
Success will enable the company to expand its evaluation of the modelled contact zone which will remain open in most directions after completion of the four holes.
Subject to positive results, the company intends to expand the drill program at the Lorraine Gold Project.
Chase Mining shares have been as much as 17$ higher today to 3.5 cents.