Chalice Mining (ASX:CHN) said recent drilling at the Deep Blue copper-molybdenum-silver-rare earth element (REE) target of its Northam joint venture project in Western Australia has identified rare earth mineralization, according to a Thursday Australian bourse filing.
The company said the drilling returned 384 parts per million copper with 15.5% total rare earth oxide, 7,500 parts per million praseodymium oxide, 22,900 parts per million neodymium oxide, and 3,100 parts per million samarium oxide, among other results.
The target area is largely concealed beneath residual agricultural soils with limited outcrop expression, with the source of the copper-REE anomalism unknown, while strong coincident magnetic and gravity anomalies indicate the presence of a large-scale hydrothermal system with skarn-style affinities extending over more than two kilometers, the filing added.
Land access is secured for drilling, with an initial 10-hole reverse circulation drill program expected to start in the coming weeks, subject to regulatory approvals, it added.
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