Golden Chalice Resources Inc.
#711 – 675
West Hastings Street, Vancouver, B.C. V6B 1N2, Telephone: 604-685-2222, Fax: 604-685-3764
FOR IMMEDIATE RELEASE
www.goldenchaliceresources.com
TSXV:
GCR
November 16,
2007
LATEST
TECHNOLOGY BROUGHT TO
GOLDEN CHALICE LANGMUIR NICKEL DISCOVERY
Golden
Chalice Resources Ltd. is pleased to announce that Geotech has recently flown
more than 2,700 kilometres of airborne geophysics over the entire Langmuir
Property located 35 kilometres southeast of Timmins, Ontario.
The new airborne survey was conducted with Geotech’s improved B-field
VTEM system and has resulted in better conductor definition in the area of, and
on strike with, GCR’s Langmuir Nickel Discovery. The survey has produced
more than 25 distinctive drill targets which are scheduled for modeling
and analysis in preparation for a winter drilling program. Most of these
targets are on strike with the discovery zone with many being similar in
strength and physical properties to the airborne anomalies associated with the
nickel discovery.
Two
drills continue to test the Nickel Discovery. The nickel mineralization
occurs within a thick package of peridotitic volcanic flows. Multiple
flows rich in nickel mineralization with elevated platinum and palladium have
been intersected by drilling to date. This favourable flow horizon has
been intersected for over 350metres along strike by drilling. The flows
continue to be open along strike and at depth. The Company expects to announce
additional drilling results next week.
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.