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Chalice Gold Mines Ltd.
Summary
| Project: | Pyramid Hill | |
|---|---|---|
| Deposit: | Pyramid Hill | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/8/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 8-7-2019: Chalice Gold Mines Ltd. announces an Exploration/Drilling Update report for its Pyramid Hill deposit at the Pyramid Hill project. Drilling results incl. 12m @ 0.22g/t Au from 76m. Chalice Gold Mines Limited (“Chalice” or “the Company”) (ASX: CHN | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Dr Kevin Frost (Internal) | |
| ABSTRACT: | Chalice Gold Mines Limited (“Chalice” or “the Company”) (ASX: CHN | TSX: CXN) is pleased to announce promising reconnaissance drilling results at its 100%-owned Pyramid Hill Gold Project located in the worldclass Bendigo region of Victoria. The AC drill program was designed to provide an initial reconnaissance-level shallow drill test of soil geochemical, gravity and structural targets, and to identify areas of anomalous gold and associated pathfinder elements providing potential vectors to large-scale mineralised gold systems (Figure 1). Several new strike-extensive mineralised trends have been intersected across shallow wide-spaced AC drill lines completed within the ~1,500km2 Muckleford Area. The newly defined mineralised trends at the Karri, Ironbark and Beech Targets occur within highly weathered Castlemaine Group sediments directly beneath the Murray Basin cover interface, indicating the gold is from a primary bedrock source. Planning is underway for tighter spaced infill and step-out AC drilling on these targets, with a restart of drilling envisaged in mid-late Q3 2019. Commenting on the recent results and forward plan, Chalice’s Managing Director, Alex Dorsch said: “The new broad zones of gold and pathfinder elements are significant given the wide-spaced reconnaissance nature of the initial phase of drilling. To have three laterally extensive areas of bedrock gold anomalism defined so early is promising.” | |
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