Chalice eyes large copper-rare earth target at Deep Blue
Chalice Mining has reported a major new exploration target at its Deep Blue project in Western Australia, outlining a large copper–molybdenum–silver–rare earth system that is now set for drilling in the coming weeks.
The target, located about 10km north of Goomalling and near the Caravel copper project, covers an approximately 2.5km-long soil anomaly. It has never been drilled and is mostly hidden under agricultural soils, meaning its source is still unknown.
Rock chip samples from limited outcrops have returned very high rare earth results, including up to 19.2 per cent total rare earth oxides (TREO) and 15.5 per cent TREO, something the company describes as “exceptional”.
These include valuable magnet rare earths such as neodymium and praseodymium, which are used in electric motors and defence technologies. The same samples also contain copper, silver and traces of gold.
Soil sampling has outlined strong copper values up to 890 parts per million (ppm), about 17 times higher than background levels.
Geophysical surveys show strong magnetic and gravity anomalies that line up with the geochemical results. Chalice said this combination points to a large buried hydrothermal system, possibly with skarn-style mineralisation, extending over 2–3km.
Mineral analysis has identified minerals such as monazite and allanite, which are commonly associated with rare earth deposits. This strengthens the interpretation that the system could host both copper and high-value rare earth elements together.
Chalice is now preparing a 10-hole reverse circulation drilling program, with land access already secured. Drilling is expected to begin in the coming weeks, subject to approvals.
The company said the results significantly upgrade Deep Blue into a “drill-ready” target with potential for a large, multi-commodity system combining copper and strategic rare earths—materials increasingly important for clean energy and advanced technology supply chains.
Chalice remains well-funded with about $63 million in cash and investments as it advances exploration.