Golden Chalice Resources Inc,
Exploring the Flagship Langmuir Nickel Property
Golden Chalice is well positioned to discover and capitalize on world class gold, silver, copper, nickel, zinc, platinum and palladium deposits. The Company has strategically accumulated large land packages in mining and mineral districts across Canada and in Nevada, USA. All are in close proximity to existing mining infrastructure and are often within road access to metallurgical facilities. Golden Chalice is a member of the Hughes Exploration Group of Companies.
May 2007 drilling intersected 1.14% nickel over 72.45 metres, including two separate heavily mineralized intervals of 2.23% Nickel (Ni), 0.22% Copper (Cu), 0.20 g/t Platinum (Pt), and 0.50 g/t Palladium (Pd) over 17.50 metres of drill core, and 1.74 % Ni, 0.12% Cu, 0.20 g/t Pt, and 0.47 g/t Pd over 13.10 metres of drill core.
Golden Chalice geologists are currently computer modeling and interpreting the shape and size of the nickel mineralized discovery zone based on drilling to date. The nickel mineralization has been traced for a strike extent of approximately 200 meters and is defined to at least a depth of 250 meters below surface. In addition, nickel mineralization has been intersected at approximately 375 meters vertically below surface on the eastern down plunge extent of the C Zone.
Based upon recent interpretive work, the nickel mineralization displays exceptionally good continuity in the three (A,B,C) nickel zones intersected to date (see cross-section below). Golden Chalice is now drilling from north to south with tighter spaced drilling to validate continuity between drill intercepts and confirm true widths of the mineralization. Drilling will also continue to determine the down plunge extent of mineralization, and near surface projection of the discovery zone to assess the open pit mining potential. Upon completion of this next phase of drilling, an external consultant will be engaged to determine a 43-101 compliant resource estimate for the Langmuir Nickel Discovery.
