** Shares of Chalice Mining CHN.AX rise as much as 34.6% to A$1.615, their biggest intraday percentage gain since April 15, 2020

** Stock hits its highest level since November 8, 2024

** The critical minerals explorer reports positive metallurgical test results from its Gonneville nickel-copper-PGE project in Western Australia

** Says results show project will not require a hydrometallurgical process for producing nickel concentrate, reducing costs

** About 12.6 mln shares change hands, vs the 30-day average of around 2.9 mln

** Stock up 40.5% this year, including the day's move

(Reporting by Aaditya Govind Rao in Bengaluru)

((Aaditya.govindrao@thomsonreuters.com;))