drills 11.6 m of 1.11% Ni at Langmuir
Golden Chalice drills 11.6 m of 1.11% Zn at Langmuir
2007-07-19 19:55 ET - News Release
Mr. Richard Hughes reports
GOLDEN CHALICE RESOURCES - LANGMUIR NICKEL DISCOVERY
Golden Chalice Resources Inc.'s nickel mineralization continues to depth at the Langmuir nickel discovery. The Langmuir property is located about 35 kilometres south of Xstrata's Kidd Creek metallurgical site in Timmins, Ont. Partial assay results from the third drill hole, GCL07-11, suggest that nickel (Ni) mineralization occurs in multiple zones at depth. In addition, full assay results from drill hole GCL07-10 indicate higher-grade platinum (Pt) and palladium (Pd) grades for massive sulphide mineralization.
Drill hole GCL07-11 was collared 75 metres south of GCL07-6, the initial discovery hole which reported 72.90 metres drilled width of 1.14 per cent Ni, and an up-dip drill hole GCL07-10, which intersected 2.36 per cent Ni over 14.90 metres of drilled width.
Drill hole GCL07-11 encountered three separate mineralized intervals of nickel mineralization. The first interval from 213 to 220.8 metres intersected 0.89 per cent Ni, 0.06 per cent copper (Cu), 0.21 gram per tonne (g/t) Pd and 0.18 g/t Pt over 7.80 metres drilled width. A second mineralized interval from 264.3 to 270.3 metres intersected 1.52 per cent Ni, 0.21 per cent Cu, 0.29 g/t Pd and 0.13 g/t Pt over a drilled width of six metres. The third mineralized zone encountered 1.11 per cent Ni, 0.13 per cent Cu, 0.23 g/t Pd and 0.11 g/t Pt over a drilled width of 11.6 metres from 314.40 to 326 metres.
The mineralized sections were sampled based on visual sulphide mineral observations and assays are still pending for sections sampled between these more mineralized sections. The first two zones are currently interpreted to correlate with the mineralized zones encountered in the first two drill holes. However, the third mineralized zone may be a separate new zone. This third zone occurred approximately 200 metres vertically below surface and deeper drilling is required to determine the down-dip and down-plunge extent of this and the other mineralized zones.
Complete platinum and palladium group assay results have also been received for the previous drill hole GCL07-10 which reported 2.36 per cent Ni over 14.9 metres and now includes 0.52 g/t Pd and 0.22 g/t Pt. This intersection includes massive sulphide from 94.6 to 95 metres that assayed 0.58 g/t Pt, 2.25 g/t Pd and 17.9 per cent Ni.
Golden Chalice is currently drilling on strike of the first three drill holes and assays are pending for sulphide mineralization encountered in a drill hole collared approximately 25 metres southwest of holes GCL07-6 and GC07-10. Laboratory results are expected to be delayed by two to three weeks because of the large inventory of samples that need to be processed due to the busy summer field season.
Drilling on the Langmuir property will continue to test the zone along strike and at depth.
Geotech has also been commissioned to fly the entire Langmuir property with the latest and most advanced version of the B-field VTEM (versatile time-domain electromagnetic) airborne system. This survey is expected to start within two weeks. Less than one-third of the Langmuir property was flown in 2006 with an older version of the VTEM system which identified 18 clusters (groups) of electromagnetic (EM) anomalies. Drill testing of one EM anomaly in a VTEM cluster resulted in the Langmuir nickel discovery. The company is optimistic that additional clusters of EM anomalies will be identified by the advanced VTEM system on the remainder of the Langmuir property. The Langmuir property is located about 35 kilometres south of Xstrata's Kidd Creek metallurgical site in Timmins, Ont.
Peter Caldbick, PGeo, and Kevin Montgomery, PGeo, are the qualified people for the purposes of National Instrument 43-101 for the company's Langmuir project.
We seek Safe Harbor.
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