Golden Chalice drills 24.4 m of 2.75% Ni at Langmuir
Golden Chalice Resources Inc (C:GCR)
Shares Issued 114,843,887
Last Close 2/17/2009 $0.11
Wednesday February 18 2009 - News Release
Mr. Richard Hughes reports
GOLDEN CHALICE RESOURCES INTERSECTS 2.75% NICKEL OVER 24.4 METERS AND BEGINS 2009 DRILL PROGRAM ON DEEPER CONDUCTIVITY VTEM TARGETS
Golden Chalice Resources Inc. has released the latest results from the 2008 infill drill program which focused on the Langmuir nickel discovery on its wholly owned Langmuir property, 35 kilometres southeast of Timmins, Ont. The infill drill program is further defining the Langmuir Nickel Zone discovered in May of 2007, and is part of an ongoing exploration program which includes drilling of deep-seated VTEM conductors identified by recent airborne geophysical surveys. Drilling has begun on a number of VTEM targets and/or MMI soil geochemistry anomalies.
Drill hole GCL08-69 intersected 2.75% Nickel over a drilled width of 24.4 meters from 34.6 to 59.0 meters including a narrower intercept of 3.79% Nickel over a drilled width of 14 meters from 41.0 to 55.0 meters. This intercept occurs approximately 115 meters west of drill hole GCL07-06 which intersected 1.14% Nickel over 72.50 meters (reported in May 2007) and 30 meters vertically below the bedrock overburden interface.
Drill hole GCL08-68, drilled above hole GCL08-69 intersected 2.90% Nickel over a drilled width of 2.80 meters from 33.6 to 36.4 meters and 0.84% Nickel over 9.0 meters drilled width from 43.4 to 52.4 meters. The upper intercept is approximately 12 meters vertically below the overburden bedrock interface.
An additional drill hole GC08-67 intersected 1.51% Nickel over a drilled width of 9.75 meters approximately 70 meters west of drill hole GC07-06 and 20 meters vertically below the bedrock overburden interface.
Management is pleased with the results of the 2008 Langmuir Discovery infill drilling. Drilling has confirmed the near surface presence and strong continuity of nickel mineralization along strike of the original discovery drill hole. The A and B Zone mineralization has been confirmed to a vertical depth of 250 meters below surface and is still open to depth.
Current drilling will test for additional new nickel mineralized zones on part of the Langmuir property. Modeling of the airborne geophysical survey and results from a Metal Mobile Ion (MMI) soil geochemical survey suggest the potential for additional new nickel and platinum group metal (PGM) zones. These new targets occur at depth or on strike with the Langmuir discovery.
The results of the 2008 infill drilling are tabulated below with recent drill results highlighted.
LANGMUIR NICKEL DISCOVERY AREA IN FILL DRILL RESULTS DDH Zone From To Length Ni Cu Pt Pd Estimated (m) (m) (m) (%) (%) (g/t) (g/t) True WidthGCL08-48 A 126 140 14 1.70 0.11 0.12 0.29 10 Incl. 126 135.9 9.9 2.12 0.14 0.15 0.38 7.0GCL08-49 A 164.4 185.8 21.4 0.99 0.09 0.10 0.23 11GCL08-50 A 123.1 134 10.9 1.13 0.04 0.07 0.17 9.5GCL08-50 Incl. 123.1 124.1 1.0 9.28 0.27 0.35 0.99GCL08-51 A 130.4 141 10.6 3.14 0.28 0.34 0.68 8.0GCL08-52 A 181.6 190 8.4 0.26 0.03 0.02 0.04 5.0GCL08-53 A 190 197 7 1.09 0.09 0.09 0.23 5.0GCL08-54 A 103 114 11 0.23 0.02 0.03 0.05 7.0GCL08-55 A 53 59.2 6.2 1.14 0.09 0.07 0.17 5.0GCL08-55 Other 85.0 87.0 2 0.88 0.02 0.07 0.10 N/AGCL08-56 A 91 98.2 7.2 1.53 0.09 0.15 0.43 5.0GCL08-57 A 58.7 66.5 7.8 1.69 0.18 0.09 0.22 5.0GCL08-58 NSVGCL08-59 A 84 90 6.0 0.69 0.03 0.07 0.16 5.0 Incl. 84 88 4.0 0.81 0.04 0.08 0.19 3.3GCL08-60 A 101 105 4.0 0.81 0.01 0.11 0.23 3.5GCL08-61 A 33.4 39.2 5.8 1.24 0.14 0.10 0.24 3.5GCL08-62 A 74.5 85 10.5 1.40 0.13 0.10 0.25 6.5GCL08-63 A 103.3 119.5 16.2 1.63 0.13 0.12 0.28 10GCL08-64 A 130 151.9 21.9 1.48 0.07 0.11 0.28 14 Incl. 130 139 9 1.64 0.03 0.15 0.35 5.8 Incl. 145 151.9 6.9 2.16 0.19 0.14 0.36 4.4GCL08-65 A 20 34 14 1.18 0.07 0.11 0.22 12 Incl. 20 22.9 2.9 1.73 0.07 0.27 0.46 2.5 Incl. 28.5 34 5.5 1.56 0.09 0.10 0.23 4.7GCL08-66 A 55 68 13 0.36 0.01 0.02 0.03 9 Incl. 55 57 2 0.82 0.03 0.05 0.10 1.4 DDH Zone From To Length Ni Cu Pt Pd Estimated (m) (m) (m) (%) (%) (g/t) (g/t) True WidthGCL08-67 A 25.75 35.5 9.75 1.51 0.11 0.15 0.38 5.5 Incl. 26.5 32.5 6 1.94 0.15 0.15 0.38 3.4GCL08-68 A 33.6 36.4 2.8 2.90 0.10 0.04 0.14 2.5 OTHER 43.4 52.4 9 0.84 0.05 0.08 0.19 7.8GCL08-69 A 34.6 59 24.4 2.75 0.16 0.18 0.51 15.5 Incl. 41 55 14 3.79 0.21 0.24 0.68 8.9GCL08-70 A 22.2 28 5.8 1.51 0.09 0.06 0.12 5.0GCL08-71 NSVGCL08-72 NSVGCL08-73 A 129.3 149 19.7 0.65 0.05 0.05 0.10 11 Incl. 129.3 132.1 2.8 1.05 0.02 0.13 0.28 1.6 Incl. 145 149 4 0.96 0.02 0.05 0.11 2.2
A rigorous quality assurance program is employed which includes the insertion of standards and blanks for each batch of samples. Samples of the NQ size drill core are sawed in half, with one-half sent to a commercial laboratory, Expert Laboratory of Rouyn-Noranda, Quebec, and the other half retained for future reference. Core samples are routinely analyzed for nickel, copper and cobalt by aqua regia digestion with atomic absorption techniques. Any analyses greater than 5,000 ppm are re-analyzed using total acid digestion and atomic absorption techniques.
Peter Caldbick, P.Geo., and Kevin Montgomery, P.Geo., are the qualified persons for the purposes of National Instrument 43-101 for the Company's Langmuir Project.
© 2009 Canjex Publishing Ltd.