[caption id="attachment_1003727561" align="aligncenter" width="462"] If the best place to find a new gold mine is next to an existing one, Chalice is well positioned in the Abitibi Greenstone Belt. (Image: Chalice Gold Mines)
QUEBEC – Chalice Gold Mines
has filed an amended 43-101 report on Sedar for its East Cadillac gold project. The property is 35 km east of Val d’Or, on the prolific Cadillac-Larder Lake fault. The amended report includes non-material changes requested by the Ontario Securities Commission, and the resource estimated made in the original report dated Feb. 12, 2017, has not changed.
The resources include 225,342 measured and indicated tonnes grading 4.17 g/t gold for 30,212 oz. of contained gold. There are also 1.1 million inferred tonnes at 4.09 g/t for 146,315 contained oz.
The report recommended two phases of exploration. In 2017, phase one – surface sampling, airborne surveying, a LiDAR survey, data compilation, and drilling – would cost $1.1 million. Phase two – drilling additional targets identified in phase one – would cost about $1.2 million. The actual costs may be higher.
Chalice is going forward with exploration at East Cadillac this year. Results will be posted at www.ChaliceGold.com.