Chalice Gold Mines - September 2015 Quarterly Report and Cashflows

Symbol:                     ASX: CHNTSX:  CXN

Shares outstanding:              282 million

Fully diluted:                            287 million

PERTH, Western Australia, Oct. 30, 2015 /CNW/ - Chalice Gold Mines ("The Company") ASX:CHNTSX:CXN advises that its Activity and Cash Flow Reports for the quarter ended September 30, 2015 have been issued today.  The full texts 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

• Re-logging of 771 diamond drill holes (102,000m of drilling) completed across the existing Cameron deposit at Chalice's 100%-owned Cameron Gold Project in Ontario, Canada with an additional 30,000 samples to be added to a new resource model.
• New geology model (lithology, alteration and shearing) under construction with an updated mineral resource estimate on track to be finalised in Q4 2015.
• Rock chip litho-geochemistry completed across entire land holding at Cameron, with 12 near-mine targets trenched, mapped and sampled.
• Maiden mineral resource estimate nearing completion for the Croteau Est prospect, part of the joint venture with Northern Superior Resources following infill and exploration drilling during the Quarter.
• Chalice continues to target additional high-potential opportunities in the region and elsewhere.
• Chalice's balance sheet remains strong with cash of ~A$40.6M at September 30, 2015 with a further US$2M deferred consideration becoming due and receivable from the sale of the Zara Project in ~late 2015.

 

SOURCE Chalice Gold Mines Limited

please contact: Tim Goyder, Managing Director, Richard Hacker, CFO, Chalice Gold Mines Limited, Telephone [phone]; For media inquiries, please contact: Nicholas Read, Read Corporate, Telephone: [phone]