Chase Mining Corp. Ltd. is looking to introduce a joint venture partner for the gold program at the historical Lorraine nickel-copper-gold mine in Quebec, where it has reported significant grades.
Chase Executive Chairman Leon Pretorius said in an interview that the project could be a "natural fit" for a number of companies operating in the district including owners of mines in the historic Kirkland Lake mining area just across the border in Ontario.
The Kirkland Lake town was not only built on gold but also produced midtier miner Kirkland Lake Gold Ltd.
Chase acquired three nickel-copper sulfide projects in Quebec in November 2018 before changing its name from TopTung Ltd. in January 2019 and then more than doubled the footprint of the Alotta-Delphi-Zullo nickel-copper-platinum group elements project area by acquiring additional nickel-copper claims at Bambino and southwest of Lorraine.
The junior picked up Lorraine after Canadian company Hinterland Metals Inc. allowed the leases to lapse in October 2013.
|Martin Kavanagh addresses the Australian Nickel Conference
on Oct. 15, 2019.
Source: Paydirt Media
Chase nonexecutive director Martin Kavanagh told the Oct. 15 Australian Nickel Conference in Perth that though gold values up to 13.8 g/t gold had been found from sulfide-bearing samples in waste dumps in 2000, the prior owners had not followed-up the underground gold potential.
Sampling on what Chase calls the "6th level" drift at the base of the mine, which runs down to about 300 meters, returned results of 10 meters at 13 g/t gold, while a drill intercept from that drift returned 1 meter at 48 g/t gold and 102.91 g/t silver, according to a company presentation.
About 600,000 tonnes of massive sulfide was mined from surface to 240 meters at Lorraine producing 3,000 tonnes of nickel, 6,000 tonnes of copper, 14,082 ounces of gold and 86,196 ounces of silver from 1964 to 1968.
Lorraine is 20 kilometers west of the Belleterre gold mine, which produced 755,000 ounces of gold at 10.73 g/t between 1936 and 1959.
Though the underground development remains flooded to surface, Chase sees potential in the 75- to 90-meter-wide ore body and the 12-meter-thick, semi-massive to massive sulfides that lie therein.
Kavanagh said no modern-day exploration techniques have yet been used to target extensions to the Lorraine massive sulfide zones at depth and sees potential considering the mined grade averaged 1.57% copper, 0.62% nickel, 6.9 g/t silver and 0.67 g/t gold, plus upside from platinum group elements.