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Golden Chalice Resources Discovers New W3 Target Area At Langmuir
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VANCOUVER, BC - Golden Chalice Resources (the "Company") is pleased to
announce the discovery of new nickel mineralization approximately 500
meters east of the Langmuir Nickel Discovery Zone at its Langmuir
Property, 35 km southeast of Timmins, Ont.
The host rock is a channel peridotite flow horizon similar to that
hosting the Langmuir Nickel Discovery Zone (W4), where drilling in May
of 2007 had intersected 1.14% nickel over 72.5 meters., and the recent
significant W2 Nickel Discovery of 1.72% nickel over 3.0 meters, about
1.5 km east of the Langmuir Nickel Discovery Zone. Company geologists
have not yet determined whether this is a new channel flow horizon
hosting nickel sulphides or is the same flow horizon hosting nickel
mineralization in either the Langmuir Nickel Discovery Zone (W4) or the
W2 Discovery.
The nickel mineralized intercept from Hole GCL09-11 occurs some 100
meters west of an earlier drill hole (GCL08-04) that intersected 0.23%
nickel over a drilled width of 4.0 meters. Mineralization consists of
disseminated pyrrhotite with a section of focused blebby and
fracture-filled pyrrhotite with minor pentlandite.
Company geologists are encouraged by the latest drill result as it may
represent a third nickel area following the recent 2009 W2 Nickel
Discovery. The original drill targets in the W2 and W3 areas were deep
VTEM conductors identified using computer modeling for locating
"Kambalda-style" deposits.
"We are impressed with the geological similarities between this new
area of mineralization and the original W4 Discovery Zone. The two W3
holes were drilled 100 meters apart as well as 500 meters east of the
W4 zone and both intersected nickel mineralization which is consistent
with the Kambalda model we are using to guide our program." comments
Company president John Keating.
The Kambalda Mining District of Western Australia is one of the biggest
nickel districts in the world. Australia is the third largest nickel
producer with Kambalda accounting for one-fifth of Australia's
production. In terms of nickel endowment, the Kambalda region is one of
the greatest producing regions with over 21 ore bodies. Within the
Langmuir Shaw Dome four deposits were discovered in the mid 1970s with
two new nickel discoveries by Golden Chalice Resources in the past two
years.
The original discovery and the newly discovered areas remain open at
depth and/or along strike. GCR is reviewing the current drilling,
geophysical and other data to develop drill targets to expand on the
existing zones and test new zones identified by our geophysical
modeling.
A map of the Langmuir property showing the new target area is currently
being updated and will be available on the Company's website in the
near future.
Peter Caldbick, P.Geo. has reviewed and approved the press release and
Kevin Montgomery, P.Geo. is the project supervisor. Mr. Caldbick and
Mr. Montgomery are the qualified persons for the purposes of National
Instrument 43-101 for the Company's Langmuir Project.
About Golden Chalice
The Company's main focus continues to be its flagship Langmuir Project.
The Langmuir Project is easily accessible by road and is near existing
mining infrastructure in the Timmins camp, host to numerous world-class
gold and base metal deposits. The Company owns 100% of the property
which covers more than 30 km of favorable stratigraphy with potential
for hosting Kambalda-style deposits.
Golden Chalice has assembled a portfolio of properties in established
mining and mineral districts, notably the Abitibi in Ontario, the
Bathurst camp in New Brunswick, and a joint-venture project in Nevada.
CONTACT INFORMATION
Corporate Inquiries:
Kevin Hull or Alan Campbell, Investor Relations
Phone: (604) 685-2222
Email: info@goldenchaliceresources.com
Website: www.goldenchaliceresources.com
AGORACOM Investor Relations:
Email: GCR@agoracom.com
Website: http://www.agoracom.com/ir/goldenchalice
The statements made in this Press Release may contain forward-looking
statements that may involve a number of risks and uncertainties.
Actual events or results could differ materially from the Company's
expectations and projections.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this news release.
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Copyright (c) 2009 GOLDEN CHALICE RESOURCES INC. (GCR) All rights
reserved. For more information visit our website at
http://www.goldenchaliceresources.com/ or send
mailto:info@goldenchaliceresources.com
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Rogue Resources
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EXPLORATION STAGE |
CODE : RRS.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Rogue Res is a nickel and palladium exploration company based in Canada. Rogue Res holds various exploration projects in Canada. Its main exploration properties are SHILLINGTON, ABITIBI EAST, UKE, RADIO HILL, TIMMINS WEST and LANGMUIR in Canada. Rogue Res is listed in Canada and in United States of America. Its market capitalisation is CA$ 334 250 as of today (US$ 243 408, € 226 467). Its stock quote reached its highest recent level on August 17, 2007 at CA$ 98.99, and its lowest recent point on October 27, 2023 at CA$ 0.02. Rogue Res has 9 550 000 shares outstanding. |