Chalice Gold Mines - June 2015 Quarterly Report and Cashflows
![Chalice Gold Mines - June 2015 Quarterly Report and Cashflows](https://www.minenportal.de/media/goldseiten-news.jpg)
Quarterly Highlights
- Re-logging and assaying of historical drill core is continuing at the Cameron Gold Project in Ontario, paving the way for a revised Mineral Resource estimate and the completion of the Preliminary Economic Assessment (PEA) in Q4 2015.
- Revised costings within the PEA on the Cameron Project demonstrate material reductions in capital and operating costs.
- 2015 field season commences at Cameron targeting additional near-mine ounces.
- Joint venture agreement signed with Northern Superior Resources Inc. (TSX-V: SUP) giving Chalice the right to earn a 65% interest in the advanced Croteau Est Gold Project by spending C$4M within three years with a minimum commitment of C$0.5M.
- At the main prospect, the Croteau Bouchard Shear Zone (CBSZ), continuous plus 1 g/t Au mineralisation has been defined over a strike length of 1.1km, a width of 180m and to a depth of 575m. The mineralisation at CBSZ remains open in all directions.
- Resource and exploration drilling commenced in June 2015 at Croteau Est with the aim of delineating a maiden JORC/NI43-101 Resource at CBSZ in Q4 2015 – assays pending.
- The Company has a year-to-date $4.9M foreign exchange gain.
- Chalice's balance sheet remains strong with cash of ~A$40M at 30 June 2015.
Shares outstanding: 282 million
Fully diluted: 287 million
Contact
please contact: Richard Hacker, CFO
Chalice Gold Mines Ltd.
Telephone +61 9322 3960
For media inquiries, please contact:
Nicholas Read, Read Corporate
Telephone: +618 9388 1474