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Chalice Gold Mines Ltd.
Summary
| Project: | Pyramid Hill | |
|---|---|---|
| Deposit: | Karri | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/12/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-12-2019: Chalice Gold Mines Ltd. announces an Exploration/Drilling Update report for its Karri deposit at the Pyramid Hill project. Drilling results incl. 40m @ 0.13g/t Au from 80m. Chalice Gold Mines Limited (“Chalice” or “the Company”) (ASX: CHN | TS | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Kevin Frost (Internal) | |
| ABSTRACT: | Chalice Gold Mines Limited (“Chalice” or “the Company”) (ASX: CHN | TSX: CXN | OTCQB: CGMLF) is pleased to announce encouraging air-core (AC) drilling results from the Karri Target at its 100%-owned Pyramid Hill Gold Project, located in the Bendigo Region of Victoria. The Company’s 25,000m Phase 2 reconnaissance AC drill program at the Ironbark, Karri and Beech Targets continues in the Muckleford Area. A total of 63 AC drill holes for 7,260m have now been completed at the Karri Target, which is defined by Phase 1 AC anomalous gold and/or pathfinder results from wide-spaced drill lines under 50-75m of Murray Basin cover. Chalice’s Managing Director, Alex Dorsch, said, “The drill bit continues to build our excitement levels in Victoria, with another round of excellent results at the Karri Target. We knew from the outset that this target had all the hallmarks of a significant gold system, and we are optimistic that we are on track to make a gold discovery.” “The identification of broad zones of low-level gold anomalism, such as these results at Karri, have been an important step in the discovery of numerous gold deposits throughout Australia and in Victoria in particular. They are particularly important in undercover areas as they allow the target search space to be rapidly refined.” “The strike extent of the parallel gold trends identified to date is particularly encouraging, as these sorts of multi-kilometre strike lengths point to the potential for a significant scale gold system. Given the prolific high-grade nature of the Bendigo Zone and the lack of exploration in the undercover region, the Karri Target presents a rare discovery opportunity under shallow cover in Australia.” “We are just beginning to scratch the surface on our district scale Pyramid Hill Gold Project and, given our strong financial position and significant technical expertise in-house, Chalice is positioned exceptionally well for the exploration journey ahead. We eagerly await the commencement of our first diamond drill program in January and look forward to releasing more drill results over the next few months.” | |
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