Symbol: ASX: CHN TSX: CXN
Shares outstanding: 251 million
Fully diluted: 259 million
PERTH, Western Australia, Jan. 31, 2014 /CNW/ - Chalice Gold Mines ("The Company") ASX:CHN TSX:CXN is pleased to announce that its Activity and Cash Flow Reports for the
quarter ended December 31, 2013 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.
Chalice announced a revised deal structure by Plan of Arrangement to
acquire a 100% interest in the Cameron Gold Camp Project in Ontario,
Canada from Coventry Resources Inc. for 46 million Chalice Shares. The
transaction is expected to be completed on or around 7 February 2014.
The Cameron Gold Camp Project hosts the Cameron Gold Deposit, with
measured and indicated mineral resources of 567,100oz at 2.45 g/t,
comprising of measured mineral resources of 213,400oz at 2.68 g/t and
indicated mineral resources of 353,700oz at 2.33 g/t, plus an inferred
mineral resource of 830,100oz at 2.11 g/t (excluding the Dubenski and
Dogpaw deposits) as set out in the Revised Technical Report on the
Cameron Gold Camp Project, published by Coventry Resources in February
The focus for 2014 at the Cameron Project will include optimising and
increasing the resources potentially amenable to open pit extraction
through pit optimisation and near-mine exploration, as well as
continuing to progress critical path project development activities.
Drilling commenced at GeoCrystal Limited's Webb Diamond Project in
Western Australia and Uranium Equities Limited's Oodnadatta and Marla
IOCG Copper-Gold Projects in South Australia.
Chalice's balance sheet remains strong with cash of A$55M at 31 December
SOURCE: Chalice Gold Mines Limited
For further information:
Tim Goyder, Executive Chairman
Bill Bent, Managing Director
Chalice Gold Mines Limited
Telephone +61 9322 3960
For media inquiries, please contact:
Telephone: +618 9388 1474