GOLDEN CHALICE RESOURCES INC.
711 – 675
West Hastings Street, Vancouver, B.C. V6B 1N2
(604) 685-2222 *Fax: (604) 685-3764
FOR
IMMEDIATE RELEASE
November 21, 2007
www.goldenchaliceresources.com
TSXV: GCR
Expanding
Drill Program Results
Include 10.7 Meters of 2.37%
Nickel
Golden
Chalice Resources Inc. is pleased to announce results from
its Langmuir Nickel Project, located approximately 35 kilometers
southeast of Timmins and 30 kilometers south
of the Xstrata Metallurgical complex in Ontario.
Two drills are currently exploring the easterly and westerly strike
extensions of the nickel mineralization intersected in early May of 2007.
A third drill will be commissioned in the new year to commence drilling 25
additional B-field VTEM conductors with striking similarities to the Langmuir
nickel discovery as mentioned in a previous press release.
Highlights
of the recent drilling include drill hole GCL07-20, collared approximately 75
meters west of the discovery drill hole. This drill hole intersected 2.37%
Ni over 10.70 meters (drilled width) from 202.80 to 213.50 meters.
Drill hole GCL07-21, collared 25 meters east of the discovery drill hole,
intersected 1.10% Ni over 8.3 meters (drilled width) from 246.0 to
253.30 meters.
The
following table displays current drill results with estimated true widths:
DDH
|
Section
|
From
(m)
|
To
(m)
|
Drilled Width
(m)
|
Estimated True Width
(m)
|
Au
g/t
|
Pt
g/t
|
Pd
g/t
|
Cu
%
|
Ni
%
|
GCL07-20
|
75 W
|
202.80
|
213.50
|
10.70
|
5.0
|
0.06
|
0.20
|
0.38
|
0.10
|
2.37
|
GCL07-21
|
25 E
|
245.00
|
253.30
|
8.30
|
6.0
|
0.30
|
0.15
|
0.38
|
0.11
|
1.10
|
incl.
|
|
249.00
|
250.30
|
1.30
|
0.95
|
0.12
|
0.26
|
0.66
|
0.14
|
2.42
|
|
|
308.50
|
311.70
|
3.20
|
2.0
|
0.09
|
0.13
|
0.35
|
0.13
|
0.89
|
|
|
314.70
|
325.70
|
11.00
|
7.0
|
0.01
|
0.06
|
0.14
|
0.06
|
0.64
|
GCL07-22
|
75 W
|
336.00
|
339.50
|
3.50
|
2.0
|
0.01
|
0.06
|
0.12
|
0.05
|
0.75
|
GCL07-23
|
25 E
|
|
no significant values
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GCL07-24
|
75 W
|
96.00
|
100.00
|
4.00
|
2.0
|
0.00
|
0.03
|
0.07
|
0.02
|
0.58
|
|
|
136.00
|
144.00
|
8.00
|
4.0
|
0.12
|
0.06
|
0.13
|
0.05
|
0.82
|
incl.
|
|
141.50
|
144.00
|
2.50
|
1.25
|
0.32
|
0.13
|
0.26
|
0.09
|
1.76
|
GCL07-25
|
25 E
|
466.20
|
478.70
|
12.50
|
7.0
|
0.00
|
0.00
|
0.01
|
0.03
|
0.56
|
Incl.
|
|
476.70
|
478.70
|
2.00
|
1.10
|
0.00
|
0.08
|
0.15
|
0.04
|
1.16
|
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 of the intercepts reported in this
press release are being completed at the laboratory. A systematic program
of checking zone assays at another lab is commencing.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.