Company Interview / Going "Deep Blue": Chalice chases rare earth riches

Key points:

Deep Blue copper-rare earths target in WA set for near-term drilling Strong rare earth and copper anomalies supported by geophysics and rock chips Gonneville development advancing through permitting toward 2028 production

Chalice Mining flags high-impact drilling at Deep Blue copper-rare earths target,Alex Dorsch from Chalice Mining outlines a major new exploration focus at the Deep Blue project in Western Australia, highlighting what he describes as a large, untested copper and rare earths target. Dorsch says recent rock chips show exceptional heavy and strategic rare earth content within a 2.5km copper-in-soil anomaly, backed by supportive geophysics and geology. An initial reverse circulation drilling campaign of around ten holes is planned within weeks, pending final regulatory approval.

Dorsch states that Chalice Mining (ASX:CHN) holds about $63 million in cash and listed investments, which he views as sufficient to fund substantial drilling before any new capital is required. If early drilling results are encouraging, he expects the program to scale up rapidly, given strong market interest in critical minerals and defence-related strategic rare earths.

Alongside Deep Blue, Dorsch points to ongoing progress at the Gonneville Project near Perth, described as a large open-pit nickel-copper-PGM development. He says permitting is roughly halfway complete, targeting first production in the first half of 2028, with capex of about $820 million and a projected mine life of around 23 years. Bankable feasibility work is slated to complete by mid-2025.