- 01Kestrel hit 15m at 8.6g/t gold, 0.54% copper; incl. 2m at 56.7g/t.
- 02Shallow copper spans 500m; open at depth and along strike.
- 03More drilling planned.
Chalice Mining (ASX: CHN) has made a high-grade copper-gold discovery in first-pass drilling at its wholly owned Warrego North project in the Northern Territory’s Tennant Creek Mineral Field.
The Kestrel discovery returned a standout intersection of 15 metres at 8.6 grams per tonne gold and 0.54% copper from 78m, including 2m at 56.7g/t gold.
Wide-spaced drilling has encountered shallow copper mineralisation across approximately 500m of strike, with the system remaining open along strike and at depth.
The results establish a new exploration focus about 20 kilometres west of the former Warrego mine, while magnetic data identifies prospective features over a 2.2km trend.
First RC Drilling
The initial reverse circulation program comprised 16 holes for 3,108m across several targets after land access and heritage requirements were resolved and tenure was granted in May.
All six holes drilled at Kestrel encountered copper mineralisation, including broad zones of 27m at 0.57% copper and 24m at 0.52% copper in separate holes.
The discovery interval of 27m at 0.42% copper and 4.83g/t gold owes much of its gold grade to a narrow 2m high-grade section, which accounts for approximately 87% of the contained gold in that interval.
A peak one-metre sample returned 99.9g/t gold and a laboratory check assay returned 85.8g/t, with further testing pending to assess the possible influence of coarse gold.
Untested Parallel Trends
Kestrel sits within a west-northwest-trending magnetic corridor extending approximately 2.2km, of which drilling has so far tested only about 500m.
Two parallel trends remain untested and the approximately 1km corridor between Kestrel and the nearby Chook prospect has yet to be drilled.
At Chook, fresh drilling intersected copper mineralisation beneath historical drilling, although a twin hole returned a lower grade than the earlier result.
“Tennant Creek is one of Australia’s most prolific copper-gold districts, which has been constrained by land access further west of the historical Warrego mine,” managing director Alex Dorsch said.
“We have now shown that prospectivity formineral systems extends well beyond the previous limits, and […] have expanded our tenure position considerably to cover what we now believe is highly prospective geology.”
Ground Gravity Survey
A detailed ground gravity survey is due to begin in coming weeks across Kestrel, Chook, and surrounding areas to define targets ahead of step-out and infill drilling.
Chalice is planning further surface geochemistry, mineralogical studies, and RC and diamond drilling, with assays still pending from eight holes at other nearby targets.
The discovery has prompted the explorer to expand its tenure across a potential 140km interpreted western extension of the Tennant Creek geological province.
Warrego, about 20km east of Kestrel, historically produced approximately 1.3 million ounces of gold and 91,000 tonnes of copper, with owner Pan African Resources (ASX: PAF) studying redevelopment of the operation as a regional processing hub.
With $53m in cash and liquid investments at 30 September 2026, Chalice has funding available to pursue further evaluation.
Get the wire before the market opens.
The ASX small-cap stories that matter, filed before 9am AEST. Curated by the Small Caps desk.