FINANCE VIDEO: Chalice Gold Mines (
Chalice Gold Mines Limited (Chalice) is a progressive exploration and development company dedicated to building shareholder value through focused exploration, discovery and development of high quality gold and base metal projects in Africa and Australia.
Based in Western Australia, Chalice owns an 80% interest in the strategically-positioned 615 square km Zara Project in Eritrea, East Africa. The Company has already commenced Scoping and Feasibility Studies aimed at rapidly progressing the high-grade ~1Moz Koka Gold Deposit to production in late 2011.
In addition, the emerging Zara gold and base metal district controlled by Chalice remains virtually untouched by modern exploration, with numerous artisanal gold mining sites, gold geochemical anomalies and base metal anomalous gossans presenting numerous targets for immediate follow-up. Based on these targets and others being generated by an active exploration program, Chalice expects to quickly build on its existing Koka gold resource to maximise the project's economic potential - both for gold and base metals.
View the Video Here:
http://www.abnnewswire.net/press/en/62932/Chalice
About Chalice Gold Mines Limited
Chalice Gold is a unique, well-funded exploration business with a portfolio of district-scale gold and nickel sulphide exploration projects in high-grade mining regions of Australia. The company is exploring for large scale, high-grade discoveries in greenfield provinces and is renowned for its strong track record of value creation in the sector and its strong balance sheet (currently >A$30 million in working capital).
Chalice's portfolio includes the 100%-owned Pyramid Hill Gold Project, a district-scale 5,140km2 land holding in the highly prospective and reinvigorated Bendigo gold district of Victoria a region that has produced >60Moz of high-grade gold but has seen minimal exploration under shallow cover. Chalice has been actively exploring the Project since early 2018 and has outlined several large-scale targets through shallow reconnaissance drilling to date.
The King Leopold Nickel Project is another key district-scale 1,800km2 land holding in the frontier west Kimberley region of WA. The Company is targeting new nickel sulphide discoveries along strike from an isolated high-grade Ni-Cu-Co prospect.
Chalice recently sold its two Canadian gold projects to O3 Mining Inc. (TVX:OIII) for C$12 million in shares and retained a royalty. O3 Mining is a new venture led by major Quebec based gold company Osisko Mining Inc. (TSX:OSK). The sale of the East Cadillac and Kinebik Gold Projects further strengthens the Company's balance sheet and allows the Chalice to focus on its opportunities in Australia.
Chalice has not raised any capital since 2011 thanks in large part to its unique technically and commercially driven exploration business model. The Company has made several well-timed asset sales which have generated net proceeds of >A$100 million to date. Over A$36 million has been returned to shareholders since 2012.
Related Companies
Related Industry Topics: