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Chalice Mining has made a high-grade copper-gold discovery at its Kestrel prospect in the Northern Territory, with first-pass drilling returning up to 56.7 grams per tonne (g/t) gold and identifying mineralisation across approximately 500m of strike.
Located within Chalice’s wholly owned Warrego North project, approximately 20km west of the historic Warrego mine, Kestrel delivered a standout intersection of 15m at 8.6g/t gold and 0.54 per cent copper from 78m.
This included 2m at 56.7g/t gold and 0.88 per cent copper from 81m, within a broader intersection of 27m at 4.8g/t gold and 0.42 per cent copper.
Chalice managing director and chief executive officer (CEO) Alex Dorsch welcomed the discovery, which followed years of work to secure exploration access.
“The Chalice exploration team have again delivered exceptional results in a first-ever drill hole into a greenfield target,” he said.
“This is an outstanding and highly rewarding result, particularly given the years of persistence required to gain access to drill this highly prospective ground.”
Further drilling at Kestrel returned 27m at 0.57 per cent copper from 120m, 11m at 0.84 per cent copper from 80m and 24m at 0.52 per cent copper from 60m.
All six holes completed at Kestrel intersected copper mineralisation, with the system remaining open along strike and at depth.
“We have intersected broad, shallow copper-gold mineralisation over approximately 500 metres of strike in relatively wide-spaced drilling, with the system remaining completely open,” Dorsch said.
Magnetic data has also identified prospective features extending across approximately 2.2km, alongside two parallel trends that remain untested.
The discovery follows earlier expansion of Chalice’s exploration portfolio, which highlighted the company’s efforts to unlock previously inaccessible copper-gold targets at Warrego North.
Chalice secured the necessary land access and tenure in May, allowing its maiden reverse circulation drilling campaign to commence during September and October.
The company’s exploration footprint has since expanded to cover a potential 140km interpreted extension of the Tennant Creek geological province.
Kestrel’s proximity to the historic Warrego mine also presents what Chalice said is a potential future processing opportunity, with Pan African Resources studying the redevelopment of Warrego as a regional processing hub.
Meanwhile, Chalice has identified unusual hematite-associated mineralisation at Kestrel, suggesting further prospective targets may exist beyond the area’s more prominent magnetic features.
“The association of copper and gold with hematite alteration, rather than the typical Tennant Creek ironstones, is intriguing and could point to a new style of deposit with a weaker magnetic signature,” Dorsch said.
The discovery adds to Chalice’s broader copper exploration portfolio, which recently delivered a 1.2km mineralised copper system at Deep Blue in Western Australia.
Chalice is preparing ground gravity surveys to guide follow-up drilling at Kestrel, while assays remain pending for eight additional holes across nearby targets.
The company reported $53 million in cash and liquid investments as of September 30 to support its exploration program.
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