[wikichart align="left" ticker="CHN.ax" showannotations="true" livequote="true" startdate="25-07-2010" enddate="25-01-2011" width="250" height="200"]Chalice Gold Mines Quarterly Report Highlights:
-Regional exploration ramps up at the Zara Gold Project, Eritrea with a focus on identifying new prospects to increase the current Indicated Mineral Resource of 840,000oz at 5.3g/t within the Koka deposit.
- New “Koka-like” signatures identified by a deep penetration 3D IP survey over the Koka-Konate corridor-providing a priority drilling opportunity for early 2011.
-Further results from Zara North confirm strong stream sediment anomalism over 10km strike length.
- The Eritrean Government advises its intention to purchase, at fair value, a 30% paid participating interest in the Zara Project- Chalice shares commence trading on the Toronto Stock Exchange (TSX) under the symbol CXN
During the Quarter, Chalice Gold Mines (ASX: CHN) (TSX: CXN) continued to ramp up its near?mine and regional exploration activities at the Zara Gold Project in Eritrea, East Africa, with a focus on identifying new prospects to increase resources in the vicinity of the high?grade Koka Gold Deposit, which hosts an indicated Mineral Resource of 840,000oz at a grade of 5.3g/t gold.
Early results from a key deep penetration Induced Polarisation (IP) survey over the Koka?Konate corridor reveal strong IP resistivity targets below the Koka Deposit and the Koka East prospect. Strong IP chargeability anomalies have also been identified to the west of the Koka Deposit.
The results of the IP survey have provided exceptional targets for drilling in early 2011.
Follow-up geochemical sampling and geological mapping on the Zara North licence has continued to confirm previously reported gold anomalism. Identifying the source of this anomalism will be a key focus for intensive exploration planned over the coming months.
During the Quarter, the Eritrean Government advised its intention to purchase, at fair value, a 30% paid participating interest in the Zara Project through the Eritrean National Mining Corporation (ENAMCO). Discussions in relation to the acquisition are currently ongoing.
Find the full report here: Chalice Gold Mines Quarterly Report
