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Ltd (ASX: CHN)+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/b+AD4APA-/p+AD4-
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+ACY-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-17
MAY 2010+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/b+AD4APA-/p+AD4-
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style+AD0-'font-size:20.0pt'+AD4-Koka Deposit Feasibility Study Update+ADw-/span+AD4APA-o:p+AD4APA-/o:p+AD4APA-/b+AD4APA-/p+AD4-
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margin-bottom:1.0pt+ADs-margin-left:0cm+ADs-text-align:center'+AD4APA-b+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/b+AD4APA-/p+AD4-
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style+AD0-'width:675.0pt+ADs-margin-left:-8.8pt+ADs-border-collapse:collapse+ADs-mso-padding-alt:
0cm 0cm 0cm 0cm'+AD4-
+ADw-tr style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-height:124.45pt'+AD4-
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height:124.45pt'+AD4-
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text-align:justify'+AD4-Chalice Gold Mines Limited (ASX: CHN) is pleased to
provide an update on progress of the Feasibility Study for the high-grade +ADw-b+AD4-Koka
Gold Deposit+ADw-/b+AD4-, part of its 80+ACU--owned Zara Gold Project in Eritrea, East
Africa.+ACY-nbsp+ADs- +ADw-span lang+AD0-EN-AU style+AD0-'mso-ansi-language:EN-AU'+AD4APA-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
+ADw-p class+AD0-MsoNormal style+AD0-'margin-top:0cm+ADs-margin-right:37.15pt+ADs-margin-bottom:
0cm+ADs-margin-left:35.45pt+ADs-margin-bottom:.0001pt+ADs-text-align:justify'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
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0cm+ADs-margin-left:1.7pt+ADs-margin-bottom:.0001pt+ADs-text-align:justify'+AD4-The
Feasibility Study, which is scheduled to be completed by July 2010, follows
the Scoping Study completed in October 2009 (+ADw-i+AD4-see ASX Release ? 30 October
2009+ADw-/i+AD4-). +ADw-/p+AD4-
+ADw-p class+AD0-MsoNormal style+AD0-'margin-top:0cm+ADs-margin-right:-1.5pt+ADs-margin-bottom:
0cm+ADs-margin-left:1.7pt+ADs-margin-bottom:.0001pt+ADs-text-align:justify'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
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0cm+ADs-margin-left:1.7pt+ADs-margin-bottom:.0001pt+ADs-text-align:justify'+AD4-The Scoping
Study was an interim analysis designed to provide guidance on the financial
and technical viability of the Koka Gold Deposit based on the data available
at the time (to an accuracy of 35+ACU-) and identify the key steps required to
progress the development of a profitable mining operation.+ACY-nbsp+ADs- +ADw-/p+AD4-
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-36.0pt'+AD4AJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-
As part of the Scoping Study, Terms of Reference for the Social +ACY-amp+ADs-
Environmental Impact Assessment (SEIA) for the Koka Deposit were developed
and submitted to the Eritrean Government for feedback as part of an iterative
process for completion of both the Feasibility Study and SEIA leading to
Mining Licence and Project Approval. +ADw-/p+AD4-
+ADw-p class+AD0-MsoNormal style+AD0-'mso-margin-top-alt:auto+ADs-mso-margin-bottom-alt:auto+ADs-
margin-left:1.7pt'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
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margin-left:1.7pt+ADs-text-align:justify'+AD4-In recent months work has progressed
rapidly on several key components of the Feasibility Study including
completion of:+ADw-/p+AD4-
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style+AD0-'font-size:7.0pt'+AD4AJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-
+ADw-/span+AD4APA-span style+AD0-'font-size:11.0pt+ADs-font-family:Calibri'+AD4-5,000 metres (30
holes) of in-fill
Diamond drilling to confirm the high-grade mineralisation
at Koka and provide the basis for a revised resource estimate. Overall, these
additional drill holes have increased the level of confidence in the resource
and enabled the development of a better understanding of the structural
controls on mineralisation+ADsAPA-/span+AD4APA-span style+AD0-'font-family:Calibri'+AD4APA-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
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+ADw-/span+AD4APA-span style+AD0-'font-size:11.0pt+ADs-font-family:Calibri'+AD4-geotechnical
drilling and test work+ACY-nbsp+ADs- which has confirmed that the proposed pit-wall
angles can be steepened from those used in the Scoping Study+ADsAPA-/span+AD4APA-span
style+AD0-'font-family:Calibri'+AD4APA-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:7.0pt'+AD4AJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADsAJg-nbsp+ADs-
+ADw-/span+AD4APA-span style+AD0-'font-size:11.0pt+ADs-font-family:Calibri'+AD4-cost benefit
analysis of Contract Mining versus Owner Mining which has demonstrated Owner
Mining will significantly reduce the life of mine operating costs.+ACY-nbsp+ADs- The
cost of the mine fleet (estimated at approximately US+ACQ-20 million) will be
incorporated in the Project Capital Cost+ADsAPA-/span+AD4APA-span style+AD0-'font-family:
Calibri'+AD4APA-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
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+ADw-/span+AD4APA-span style+AD0-'font-size:11.0pt+ADs-font-family:Calibri'+AD4-detailed
metallurgical test work which indicates that the plant design can be
simplified to single-stage crushing followed by a single-stage SAG mill, with
recoveries in excess of 95+ACU- and very low reagent consumption.+ACY-nbsp+ADs- In
addition, a Counter-current Decantation (CCD) circuit for removal and
recovery of cyanide from tailings is proposed in place of cyanide
destruction. These changes will result in reductions in operating costs for
these components of the Project+ADsAPA-/span+AD4APA-i+AD4APA-span style+AD0-'font-family:Calibri'+AD4APA-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/i+AD4APA-/p+AD4-
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The water supplies will be more than adequate for the project development,
therefore removing a major risk for the Koka Project+ADs- and+ADw-o:p+AD4APA-/o:p+AD4APA-/span+AD4APA-/p+AD4-
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based on information compiled by Dr Doug Jones, a full-time employee and
Director of Chalice Gold Mines Limited, who is a Member of the Australasian
Institute of Mining and Metallurgy and is a Chartered Professional Geologist. Dr
Jones has sufficient experience in the field of activity being reported to
qualify as a Competent Person as defined in the 2004 edition of the
Australasian Code for Reporting of Exploration Results, Minerals Resources and
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Chalice Gold
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DEVELOPMENT STAGE |
CODE : CHN.AX |
ISIN : AU000000CHN7 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Chalice is a gold development stage company based in Australia. Its main asset in development is KOKA (ZARA GOLD) in Eritrea and its main exploration properties are WILGA, YANDEEARRA and GNAWEEDA in Australia. Chalice is listed in Australia. Its market capitalisation is AU$ 324.5 millions as of today (US$ 218.2 millions, € 196.9 millions). Its stock quote reached its lowest recent point on December 19, 2014 at AU$ 0.10, and its highest recent level on November 12, 2021 at AU$ 9.95. Chalice has 261 680 000 shares outstanding. |