Chalice Hits 15m @ 8.6g/t Gold at Kestrel Discovery

Chalice (ASX:CHN) Mining reported a new copper-gold discovery at its Kestrel prospect in the Northern Territory from the first drilling on tenure granted in May 2026 after access and permitting delays.

Kestrel is within the 100%-owned Warrego North Project in the Tennant Creek Mineral Field, about 20km west of the historic Warrego mine. A reconnaissance RC program of 16 holes for 3,108m was completed in September-October 2026. The discovery hole WCRC001 returned 15m @ 8.6g/t gold, 0.54% copper from 78m, including 2m @ 56.7g/t Au, 0.88% Cu from 81m, within a broader zone of 27m @ 0.42% Cu, 4.8g/t Au from 78m. Subsequent wide-spaced holes intersected the zone over ~500m of strike and down to a depth of ~140m, including 27m @ 0.57% Cu, 0.12g/t Au from 120m in WCRC002 and 24m @ 0.52% Cu, 0.12g/t Au from 60m in WCRC012. Chalice says the zone is open in all directions and that magnetics indicate several features of interest over ~2,200m along strike. It had $53 million in cash and liquid investments at 30 Sept 2026.

These are first-pass drill intercepts with no Mineral Resource reported. A ground gravity survey has yet to start, assays are pending for an additional eight holes, and any processing option at Warrego depends on studies by its owner, Pan African Resources.