Chalice Mining Ltd CGMLF

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[LAMBO]

Chalice Gold Mines Limited - September 2017 Quarterly Activity & Cash flow Reports

T.CXN | 1 hour ago

Canada NewsWire

PERTH, Western Australia, Oct. 26, 2017

PERTH, Western Australia, Oct. 26, 2017 /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 September 30, 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:

• A$7.5m exploration initiative now in full swing across high-potential gold and base metals projects in Canada and Australia:
• • East Cadillac Gold Project:
  • • 7,700m diamond drilling program in progress ~35km east of the 20Moz Val-d'Or gold camp in Quebec
    • Increased ground position now totaling 132km²
    • Significant target generation activities nearing completion – to form the basis of ongoing drilling
  • West Pilbara Gold and Base Metals Project:
  • • Up to 6,500m of RC and Aircore drilling commenced in early October at the West Pilbara Gold Project, following encouraging results from copper and gold rock chip sampling
    • Additional tenement applications increase total project area to 2,406km²
    • Assessment of newly-secured areas underway to establish the presence of the basal conglomeratic unit of the Fortescue Group, which hosts recently reported high-profile gold discoveries in the Pilbara region, including those by Novo Resources, Artemis Resources, De Grey Mining and others
• Chalice well positioned to expand exploration activities based on success, with cash and liquid investments of A$50m at Quarter-end

[Subtumbo]

How is this only hovering around.18-.2 well funded and in elephant gold country!

[golddoggold]

If my other positions weren't down, I'd sell those in a heartbeat and pick up even more CXN. $50m in liquid + spec properties and market value as of yesterday's close $45.7m. This is why I got in last year. Gold's just taking a beating and the Aussie / dual-market listing may not suit this current environment the best.

[Subtumbo]

Gold is taking a beating once the nasdaq has has 3-5 percent correction which it will we're in the money