Highlights

  • Chalice announced copper-gold mineralisation at the Kestrel prospect in November 2026.
  • Initial drilling results relate to exploration intersections, not a declared mineral resource.
  • Gonneville remains the company’s principal development project in Western Australia.
  • Feasibility work and environmental approvals are continuing at Gonneville.
  • Funding, further drilling and technical assessment remain important project considerations.

Chalice Mining Limited explores and evaluates mineral deposits in Australia, with its principal development asset being the Gonneville palladium-nickel-copper-cobalt project in Western Australia. In November 2026, Chalice Mining Limited (ASX:CHN) also reported a copper-gold discovery at its Warrego North exploration project in the Northern Territory. The two projects are at different stages: Warrego North requires further geological testing, while Gonneville is progressing through feasibility assessment and approvals.

Kestrel Drilling Adds a New Warrego North Target

On 2 November 2026, Chalice Mining Limited (ASX:CHN) announced results from the Kestrel prospect within Warrego North, in the Tennant Creek region. The reported intercept included 15 metres grading 8.6 grams per tonne gold and 0.54% copper from a depth of 78 metres, including 2 metres at 56.7 grams per tonne gold. These are drillhole assay intervals and should not be interpreted as estimates of recoverable metal.

The company reported copper mineralisation in all six holes drilled at Kestrel and described mineralisation over an approximately 500-metre strike extent. It also identified a broader magnetic corridor requiring further investigation. Chalice Mining Limited (ASX:CHN) has not established that the initial intersections are continuous across the wider corridor, nor do they demonstrate the economic viability of mining.

Further drilling would be needed to establish the geometry, continuity and scale of the mineralised system. The announced results therefore provide a basis for target evaluation rather than a production plan or a completed resource assessment.

Gonneville Studies and Regulatory Work Continue

Gonneville remains central to Chalice Mining Limited (ASX:CHN). The company is advancing feasibility work for the proposed palladium-nickel-copper-cobalt operation and progressing the regulatory process in parallel. Its September 2026 quarterly activities report, released on 27 October, outlined ongoing project studies and the planned sequence of technical work.

The company has indicated that its definitive feasibility study is targeted for the third quarter of calendar 2027. That timetable is a company objective rather than confirmation that the study or subsequent Investment decision has been completed. Engineering, metallurgical testing and permitting outcomes can affect the scope and timing of further development decisions.

During October 2026, Chalice outlined design refinements associated with Gonneville’s environmental assessment. These included a reduced proposed mine-site clearing footprint and a preferred infrastructure alignment. The amendments form part of an approvals process; they do not constitute final permission to construct the project.

Funding and Development Uncertainties

Chalice Mining Limited (ASX:CHN) remains exposed to the funding requirements of an exploration and development business. Drilling, technical studies, environmental assessments and eventual construction each involve expenditure before commercial production can be established. Any future project financing arrangements would require separate disclosure and assessment.

Commodity prices are another consideration, particularly for a proposed operation involving several metals. Project assumptions must be tested against metallurgical performance, operating costs, Capital requirements and regulatory conditions. At Warrego North, the principal uncertainty is geological: initial assays do not yet define the size or commercial characteristics of a deposit.

Key Insights

Chalice’s November 2026 Warrego North announcement adds a copper-gold exploration prospect alongside the more advanced Gonneville development programme. For Chalice Mining Limited (ASX:CHN), the distinction between early drill intersections and a feasibility-stage project is important. Subsequent drilling, technical studies, approvals and funding disclosures will provide the evidence needed to assess each project’s progress.