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Re: News Releases - Tuesday, September 22, 2009
Golden Chalice Resources Plans Exploration Program on Timmins
West Gold Project
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Golden Chalice Resources Inc. (TSX-V: GCR) ("The Company") is pleased
to announce that a recent review of government maps and other
geological data, including a VTEM airborne survey flown by the Company,
has identified potential for gold mineralization at the Timmins West
Property, 65 km southwest of Timmins, Ontario.
Please click on the following link to view a map of the Timmins West
project and other properties in the West Timmins Mining/Lake Shore Gold
discovery region (if the link does not work cut & paste it into the
address bar of your browser):
http://www.goldenchaliceresources.com/i/pdf/TW_150k_GCR.pdf
The Company believes its wholly owned Timmins West Property exhibits
similar regional geological features as the nearby Thunder Creek
Project held by West Timmins Mining Inc. and Lake Shore Gold Corp.
Recent deep drilling at the Thunder Creek Project intersected 83.40
meters grading 12.75 grams gold per tonne (g/t), one of the broadest
high-grade gold intercepts ever reported from the West Timmins
District. The host syenite porphyry at the Thunder Creek Project
contains a number of higher grade sub-zones where drilling intersected
high-grade mineralization of 38.22 g/t gold over 11 meters.
"West Timmins Mining and Lake Shore Gold's recent success with deep
drilling gives us great confidence in our Timmins West Project as the
property's potential has been tested with limited shallow drilling."
comments Chairman of the Board, Richard Hughes. "The similar geology
associated with multiple porphyries on the Timmins West property, as
well as the proximity to the Destor-Porcupine Fault Zone make it a
highly prospective gold hunting ground."
The host rocks for gold deposits in the Timmins mining camp have been
deformed, folded and faulted by major structures such as the Destor
Porcupine Fault Zone (DPFZ). These structural systems tend to fracture
the rocks creating conduits for the remobilization of gold-bearing
fluids from deeper seated sources. The gold-bearing fluids are often
associated with intrusives such as porphyries, syenites or
granodiorites that may have acted as heat engines responsible for
generating these gold-bearing fluids. The western extension of the DPFZ
is projected to transect the north portion of Golden Chalice's Timmins
West Property.
Historically, the favorable porphyries and surrounding rocks on the
Company's Timmins West Property have only been drill-tested with a few
shallow holes. Data produced from the Company's airborne regional
VTEM/magnetic survey is currently being examined for possible
structural and geologic trends that may be related to gold
mineralization. Exploration and drilling at depth and along strike will
be required to adequately test these porphyries and advance the
potential for a gold system on the Timmins West Property.
The Timmins West Property is situated near established mining
infrastructure in the Timmins camp, known for its world-class gold and
base metal mines and deposits. Approximately 70 million ounces of gold,
and over 420 million ounces of silver, 18 billion pounds of zinc and
6.8 billion pounds of copper have been produced from this prolific
mining district since mining began in the early 1900s.
The Company would also like to give a brief update on its Abitibi East
property, adjacent to a 2009 discovery by Explor Resources where
drilling intersected 142.26 g/T Au over 3.0 meters. On July 8th, 2009
the Company announced it had partnered with a private company which
would incur $394,694 in expenditures on the project. Prospecting and
sampling programs have been completed and drilling is currently
underway. The Abitibi East property is located approximately 75 km
northeast of Timmins, Ontario.
Please click on the following link for a map of the Abitibi East gold
target area (if the link does not work cut & paste it into the address
bar of your browser):
http://www.goldenchaliceresources.com/i/pdf/Abitibi-East-map-v9.pdf
Peter Caldbick, P.Geo. and Kevin Montgomery, PGeo., are the qualified
persons for the purposes of National Instrument 43-101 for the
Company's Timmins West and Abitibi East Projects. The technical
contents of the press release have been reviewed and approved by Peter
Caldbick.
About Golden Chalice
Along with its Abitibi East Property, the Company's continues to be
focus on its flagship Langmuir Project where 2007 drilling intersected
72 meters of 1.14% nickel. The Langmuir Project is easily accessible by
road and is near existing mining infrastructure in the Timmins camp,
host to numerous world-class gold and base metal deposits. The Company
owns 100% of the property which covers more than 30 km of favorable
stratigraphy with potential for hosting Kambalda-style deposits.
Along with the Langmuir Project, the Company has recently brought
forward a number of its gold projects, including the Timmins West and
Abitibi East properties.
Golden Chalice has assembled a portfolio of properties in established
mining and mineral districts, notably the Abitibi in Ontario, the
Bathurst camp in New Brunswick, and a joint-venture project in Nevada.
CONTACT INFORMATION
Corporate Inquiries: Alan Campbell or Kevin Hull, Investor Relations
Phone: (604) 685-2222
Email: info@goldenchaliceresources.com
Website: www.goldenchaliceresources.com
AGORACOM Investor Relations: Email: GCR@agoracom.com
Website: http://www.agoracom.com/ir/goldenchalice
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.
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Copyright (c) 2009 GOLDEN CHALICE RESOURCES INC. (GCR) All rights
reserved. For more information visit our website at
http://www.goldenchaliceresources.com/ or send
mailto:info@goldenchaliceresources.com
Message sent on Tue Sep 22, 2009 at 10:50:21 AM Pacific Time
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Rogue Res est une société d’exploration minière de nickel et de palladium basée au Canada. Rogue Res détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont SHILLINGTON, ABITIBI EAST, UKE, RADIO HILL, TIMMINS WEST et LANGMUIR au Canada. Rogue Res est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 1,7 millions (1,2 millions US$, 1,1 millions €). La valeur de son action a atteint son plus haut niveau récent le 17 août 2007 à 98,99 , et son plus bas niveau récent le 27 octobre 2023 à 0,02 . Rogue Res possède 47 442 200 actions en circulation. |