Golden Chalice drills 1.14% Ni over 72.50 m at Langmuir
GCR tsx.v
2007-05-16 08:59 ET - News Release
Mr. Richard Hughes reports
GOLDEN CHALICE INTERSECTS 1.14% NICKEL OVER 72.50 METERS
Golden Chalice Resources Inc. has intersected 1.14 per cent nickel over 72.50 metres, including two separate heavily mineralized intervals of 2.23 per cent nickel, 0.22 per cent copper, 0.20 gram per tonne platinum and 0.50 gram per tonne palladium over 17.50 metres of drill core and 1.74 per cent nickel, 0.12 per cent copper, 0.20 gram per tonne platinum and 0.47 gram per tonne palladium over 13.10 metres of drill core.
This intersection is from drill hole GCL07-6 recently completed on the company's 100-per-cent-owned Langmuir property and is the first hole drilled to test a cluster of four airborne VTEM anomalies on the property. The Langmuir property is located about 35 kilometres south of Xstrata's Kidd Creek metallurgical site in Timmins, Ont. The Kidd Creek site has a nickel circuit for concentrating ore from Xstrata's Montcalm nickel mine located over 90 kilometres west of Timmins.
The Langmuir property includes over 20 kilometres of ultramafic and mafic flows and sills favourable for hosting nickel, copper and platinum group mineralization (PGM). Less than 50 per cent of this favourable stratigraphy has been flown by the VTEM airborne system with 18 separate clusters of airborne EM anomalies being identified. The current first phase of drilling is designed to test each cluster which are largely covered by overburden or swamp.
Hole GCL07-06 was drilled to test a linear-trending cluster of airborne EM anomalies that occur across four flight lines, spaced 75 metres apart. Two additional EM anomalies are on strike, but slightly offset from the others. The hole was oriented to drill across the EM trend along the flight line azimuth of 325 degrees with a dip angle of minus-55 degrees.
The drill hole intersected a strongly mineralized nickel, copper, and pgm zone occurring within an altered peridotitic komatiitic flow. Nickel mineralization is associated with disseminated, fracture filling and blebs of sulphides throughout the 72.50-metre core length. Higher values of up to 5.7 per cent nickel occur when sulphide concentrations increase to 30 or 35 per cent. The following table displays weighted average summaries for the mineralized intersection. True width of the zone is not known at this time.
TABLE OF PRELIMINARY RESULTS FOR DRILL HOLE GCL-07-06
From (m) To (m) Length Ni Cu Co Pt Pd
(m) (%) (%) (%) (g/t) (g/t)
Zone 99.50 172.00 72.50 1.14 0.08 0.02 0.11 0.26
including 116.90 130.00 13.10 1.74 0.12 0.02 0.20 0.47
and 149.50 167.00 17.50 2.23 0.22 0.04 0.20 0.50
Borehole geophysics (downhole pulse EM) is to be completed on all holes including GCL07-6. This will provide additional interpretive data for the next phase of drilling which will test this new nickel discovery and any other mineralization intersected during the first phase of drilling.
A rigorous quality assurance program is employed which includes the insertion of standards and blanks for each batch of samples. Samples of the NQ-size drill core are sawed in half, with one-half sent to a commercial laboratory, Expert Laboratory of Rouyn-Noranda, Que., and the other half retained for future reference. Core samples are routinely analyzed for nickel, copper and cobalt by aqua-regia digestion with atomic absorption techniques. Any analyses greater than 10,000 parts per million are reanalyzed using total acid digestion and atomic absorption techniques. Check analyses utilizing another assay laboratory are also being done.
Peter Caldbick, P.Geo., and Kevin Montgomery, P.Geo. are the qualified people for the purposes of National Instrument 43-101 for the Company's Langmuir Project. Project supervision is by Kevin Montgomery and the contents of the press release have been reviewed and approved by Peter Caldbick.
