Chalice Gold Mines Limited (ASX:CHN) advises that it has increased its investment in unlisted United Kingdom based London Africa Limited (“London Africa”) from an 11.8% interest to a 20% interest.

Chalice has subscribed for a further 1.4 million shares in London Africa at 12.5p per share for £175,000 (~A$304,000). The funds will be applied to a continuing work program currently being undertaken and managed by London Africa.

The London Africa prospecting licences cover 1,562 square kilometres in the prospective Akordat-Orata area in Eritrea and are contiguous to Chalice’s Zara Gold Project.

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