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GOLDEN CHALICE RESOURCES INC.
FOR IMMEDIATE RELEASE
www.goldenchaliceresources.com
TSXV: GCR
September 12,
2007
LANGMUIR NICKEL DISCOVERY DRILLING
Golden
Chalice Resources Inc. is pleased to announce results from
its Langmuir Nickel Project located approximately 35 kilometers southeast of Timmins Ontario.
Two drills are currently exploring the easterly and westerly strike extensions
of the nickel mineralization intersected in early May of 2007. The
discovery drill hole, GCL07-06 reported 1.14%
Nickel (Ni) over 72.50 meters (drilled width). A subsequent and
previously released drill hole GCL07-14, collared 25 meters west of GCL07-6,
intersected three significant nickel zones of 1.26%
Ni over 30.50 meters, 1.08% Ni over 27.90 meters and 1.76% Ni over 10.50 meters.
Drill hole GCL07-15, collared
approximately 30 meters grid south of and downdip of drill hole GCL07-14, has
intersected 1.34% Ni and 0.12% Cu over 21.60
meters (drilled width) from 235.70 meters to 257.30 meters.
Included in this interval was an intercept of 2.05%
Ni over 11.30 meters from 235.70 to 247.0 meters.
DDH
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Ni
(%)
|
Cu
(%)
|
Pt
(g/t)
|
Pd
(g/t)
|
GCL07-06
|
|
|
|
|
|
|
|
Zone
|
99.50
|
172.00
|
72.50
|
1.14
|
0.08
|
0.11
|
0.26
|
incl.
|
116.90
|
130.00
|
13.10
|
1.74
|
0.12
|
0.20
|
0.47
|
and
|
149.50
|
167.00
|
17.50
|
2.23
|
0.22
|
0.20
|
0.50
|
GCL07-10
|
|
|
|
|
|
|
|
Zone
|
81.00
|
95.90
|
14.90
|
2.36
|
0.26
|
0.22
|
0.52
|
|
81.00
|
84.70
|
3.70
|
2.95
|
0.14
|
0.42
|
0.94
|
|
90.00
|
95.90
|
5.90
|
3.52
|
0.48
|
0.23
|
0.58
|
GCL07-11
|
|
|
|
|
|
|
|
Zone
|
213.00
|
220.80
|
7.80
|
0.89
|
0.06
|
0.18
|
0.21
|
Zone
|
264.30
|
270.30
|
6.00
|
1.52
|
0.21
|
0.13
|
0.29
|
Zone
|
314.40
|
326.00
|
11.60
|
1.11
|
0.23
|
0.11
|
0.23
|
GCL07-14
|
|
|
|
|
|
|
|
Zone
|
149.00
|
179.50
|
30.50
|
1.26
|
0.09
|
0.12
|
0.30
|
incl.
|
153.00
|
167.00
|
14.00
|
1.79
|
0.15
|
0.14
|
0.34
|
Zone
|
226.00
|
253.90
|
27.90
|
1.08
|
0.06
|
0.16
|
0.29
|
incl.
|
226.00
|
233.40
|
7.40
|
2.06
|
0.12
|
0.38
|
0.67
|
incl.
|
240.50
|
243.70
|
3.20
|
2.40
|
0.18
|
0.18
|
0.34
|
Zone
|
277.50
|
288.00
|
10.50
|
1.76
|
0.12
|
0.09
|
0.22
|
GCL07-15
|
|
|
|
|
|
|
|
Zone
|
235.70
|
257.30
|
21.60
|
1.34
|
0.12
|
0.10
|
0.22
|
incl.
|
235.70
|
247.00
|
11.30
|
2.05
|
0.17
|
0.14
|
0.27
|
and
|
250.80
|
256.50
|
5.70
|
0.91
|
0.08
|
0.08
|
0.02
|
Drill holes
GCLO7-12 and GCL07-13, drilled 25 meters northeast of the discovery drill hole
GCL07-06, did not encounter the host peridotite or significant
mineralization. However, hole GCL07-21 collared on the same section and
approximately 125 meters grid south of GCL07-12 and 13 has successfully
intersected peridotite with mineralization. This hole is being logged and
sampled for assaying.
Holes GCL07-16
through 20 have been drilled grid west of the discovery hole on sections at 25m
intervals. These holes have also intersected the favourable peridotite
unit with mineralization. The holes are at varying stages of being logged
and sampled for assay.
In summary,
twenty-one holes have been drilled on the Langmuir Property. Thirteen of
these holes (GCL07-06 and GCL07-10 through 21) have been drilled on the nickel
discovery zone. GCL07-6 intersected the nickel discovery while testing a
cluster of Electromagnetic (EM) airborne anomalies called zone W4. Holes
GCL07-01 to 05 and GCL07-07 to 09 were drilled to test other zones or clusters
of EM anomalies on the Langmuir Property. Only 9 of the eighteen EM
clusters that occur on the Langmuir Property have been tested. Assays
have been received to date up to and including GCL07-15 and are pending for
holes GCL07-16 to 21 that have been drilled both grid east and west of the
discovery hole GCL07-06.
As mentioned, holes
GCL07-02 to 05 and GCL07-07 to 09 were drilled to test one EM anomaly within 8
of the 18 clusters or zones of EM anomalies. No significant
mineralization has been encountered on these anomalies with the exception of
GCL07-01, drilled approximately 250 meters east of four holes drilled in 2005.
This drill hole encountered anomalous nickel mineralization returning 0.19% Ni
over 6.00 meters from 90.90 to 96.90 meters (drilled width) hosted within
mesocumulate peridotites. Some of the other holes intersected
peridotites without anomalous mineralization or a clear cause of the EM responses
Golden Chalice
Resources plans to re-evaluate all 17 clusters of EM anomalies based on the
company’s increased understanding of the geological environment,
geophysical signature, and surface geochemical response of the nickel discovery
zone. Drilling on the 17 target areas will be planned based on the
review. In addition, both drills will continue to evaluate the discovery
zone to determine the true width, strike and depth extent of the nickel
mineralization.
The Langmuir
Property is located about 35 km south of Xstrata’s Kidd Creek
Metallurgical Complex in Timmins,
Ontario.
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, Quebec,
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 5,000 ppm are
re-analyzed 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 persons for the purposes
of National Instrument 43-101 for the Company's Langmuir Project.
About
Golden Chalice
Golden Chalice is
well positioned to discover and capitalize on world class gold, silver, copper,
nickel, zinc, platinum and palladium deposits. During the last couple of
years the Company has strategically accumulated large land packages in existing
mining or mineral districts such as the Abitibi in Ontario
and the Bathurst Camp in New
Brunswick. These properties have existing
infrastructure and are often within road access to metallurgical facilities to
process mined ores. Details relating to exploration activities on
specific properties will be announced during the coming months as the work
program is implemented.
GOLDEN CHALICE RESOURCES INC.
On behalf of the Board of Directors
Richard
W. Hughes, Chairman
For Further Information Contact: The
Hughes Exploration Group
Phone: (604) 685-2222 or visit
Golden Chalice’s web-site: www.goldenchaliceresources.com
to see Smartstox interviews with Company Chairman and President.
This
document contains certain forward looking statements which involve known and
unknown risks, delays and uncertainties not under the corporation’s
control which may cause actual results, performance or achievements of the
corporation to be materially different from the results, performance or
expectation implied by these forward looking statements. The TSX Venture
Exchange has not reviewed and does not accept responsibility for the adequacy
or accuracy of this news release.