Chalice Mining reports updated Mineral Resource Estimate for Gonneville PGE-Ni-Cu-Co Project

Chalice Mining Limited (ASX: $CHN) has reported an updated Mineral Resource Estimate for the 100%-owned Gonneville PGE-Ni-Cu-Co Project located on Chalice-owned farmland ~70km north-east of Perth in Western Australia. The new Resource model facilitates selective open pit and underground mining, forming the basis for a high-grade Scoping Study Starter Case currently underway. The global Resource has also increased by ~18% since March 2023, incorporating 15 new step-out drill holes.

Chalice Managing Director & CEO, Alex Dorsch, on the updated Resource

'The remodelled high-grade sulphide Resource marks the first step in the reset of the development strategy for the Gonneville Project. The high-grade model provides improved high-grade definition to underpin the design of a more selective, smaller scale starter project. The starter project design will target higher grades initially, which drive higher recoveries and better overall margins, with the objective of making the initial stage of the project much more resilient at conservative commodity prices.'

Outlook and Future Plans

The updated Resource model for the Gonneville Project supports the development of a smaller scale, more selective mine design, targeting higher grades initially to drive higher recoveries and better overall margins. The remodelled high-grade sulphide Resource provides improved definition, underpinning the design of a more resilient starter project. Chalice is looking forward to completing the revised Scoping Study Starter Case over the coming months and progressing the Pre-Feasibility Study, targeted for completion in mid CY25. The Company is also actively engaged in a strategic partnering process to assist in developing the Project, with ongoing work on metallurgical testwork, federal and state approvals process, and investigation of key infrastructure routes for power, water, and transport.