December 2017 Quarterly Activity & Cash flow ReportsChalice Gold Mines Limited - December 2017 Quarterly Activity & Cash flow Reports
Canada NewsWire
PERTH, Australia, Jan. 19, 2018
PERTH, Australia, Jan. 19, 2018 /CNW/ - Chalice Gold Mines Limited (ASX: CHN, TSX: CXN) ("Chalice" or the "Company") advises that its Quarterly Activity and Cash Flow Reports for the quarter ended December 31, 2017 have been issued today. The full text of these reports are available at the Company's website www.chalicegold.com and under the Company's profile at www.sedar.com.
Quarterly Highlights:
Exploration activity ramps up at Chalice's flagship East Cadillac Gold Project:
Significant new targets identified following review of surface geochemical sampling and 3D-Induced Polarisation (IP) survey results
Initial (Phase 1) 7,700m diamond drilling program increased by 21,000m (Phase 2) to 28,700m in total, with four rigs contracted
Results from drilling completed to date extend the mineralized structures at the Nordeau West deposit a further 150m west and down to the -800m vertical level
Increased ground position now totals 145km2
Maiden drilling program commences at Kinebik Gold Project:
1,800m diamond drill program commenced in January 2018
Chalice is well positioned to expand its mid-tier scale exploration program, with cash and liquid investments of A$46M at Quarter-end
Competent Persons and Qualifying Persons
The Exploration Results in this report is based on information compiled by Dr. Kevin Frost BSc (Hons), PhD, who is a Member of the Australian Institute of Geoscientists. Dr. Frost is a full-time employee of the company and has sufficient experience in the field of activity being reported to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves, and is a Qualified Person under National Instrument 43-101 – 'Standards of Disclosure for Mineral Projects'. The Qualified Person has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in this release. Dr. Frost consents to the release of information in the form and context in which it appears here.