Chalice Mining Limited's update on Gonneville PFS and metallurgical testwork

Chalice Mining Limited (ASX: $CHN) has released an update on the Pre-Feasibility Study (PFS) for the 100%-owned Gonneville PGE-Ni-Cu-Co Project. The company's strategy for the Project includes defining the mineral system's scale, advancing development studies, and selecting a strategic partner. The PFS aims to select a preferred development case, assess the financial viability of the Project, and target a Final Investment Decision in late CY26 with production commencement in CY29.

Executive commentary on metallurgical testwork and project development

The ongoing Pre-Feasibility Study for the Gonneville Project is focused on detailed metallurgical testwork, assessing mining methods for the initial development phase, and finalizing infrastructure requirements. The company is confident in covering the estimated ~A$15 million PFS cost with its cash and investments balance. The metallurgical testwork has shown potential for increased metal recoveries compared to the 2023 Scoping Study. Chalice has engaged expert advisors to ensure the testwork is completed at the highest standard. The ongoing flotation testwork and process flowsheet design aim to maximize recoveries while minimizing costs and risks.

Summary of Gonneville Project update and future outlook

Chalice Mining's update on the Gonneville Project's PFS and metallurgical testwork indicates promising results and potential upside for overall metal recoveries and project economics. The company's focus on detailed metallurgical testwork, mining method assessment, and infrastructure requirements demonstrates its commitment to advancing the Project. With the estimated completion of the PFS in mid-CY25, Chalice aims to progress towards a Final Investment Decision in late CY26 and commence production in CY29. The company's engagement with expert advisors and its ongoing testwork and refinement of the process flowsheet reflect its dedication to maximizing the Project's potential. Chalice's pursuit of a strategic partner and its ongoing project development activities further underscore its commitment to the long-term success of the Gonneville Project.