Julimar mining exploration camp
UNDERGROUND mining has been added to Chalice Mining plans to build a huge new superpit and ore processing plant in Julimar.
The Perth-based miner told the Australian Stock Exchange last month that underground mining to a depth of more than a kilometre was being investigated.
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This follows the discovery of new ore at depth and was “in parallel” with a two- kilometre-wide open pit planned to a depth of up to 800m on Chalice-owned farmland between Keating Road and Plunkett Road.
Chalice described it as a potential “opening play” for a much bigger 28km-long mineral province in the Julimar Conservation Park.
The company said it planned to “valley fill” the storage of hundreds of millions of tonnes of waste material and was also investigating “dry structure” options.
Chalice shares fell to a new low of $1.39 at the end of last month after peaking at $7.92 in May – a 78 per cent drop in value.
Chairman Derek La Ferla told last month’s annual general meeting of shareholders at Perth’s five-star Westin Hotel that it was clear that market expectations had not been met.
He described it as a “difficult” period in which Chalice had been “impacted by the challenging market conditions facing exploration and development companies”.
Chalice was in discussions with a “strategic partner” that had lodged an expression of interest in September, Mr La Ferla said.
