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Chalice Secures Farm-in Agreement on Nickel-Copper-PGE Project
Sep. 22, 2016 10:05AM PST
Base Metals Investing Chalice Gold Mines (ASX:CHN, TSX:CXN) and Traka Resources Limited (ASX:TKL) have entered into a binding agreement in relation to the Latitude Hill Nickel-Copper-PGE Project, located in the west Musgrave Province of Western Australia. According to the press release: The project covers an area of 1,007 km² and is centred approximately 40km south-west of the Wingellina …
Chalice Gold Mines (ASX:CHN, TSX:CXN) and Traka Resources Limited (ASX:TKL) have entered into a binding agreement in relation to the Latitude Hill Nickel-Copper-PGE Project, located in the west Musgrave Province of Western Australia.
According to the press release:
The project covers an area of 1,007 km² and is centred approximately 40km south-west of the Wingellina nickel deposit in the west Musgrave Province.
The latitude Hill Project is considered prospective for massive and disseminated nickel-copper-PGE sulphide mineralisation in Giles Complex mafic to ultramafic intrusives, providing Chalice with a counter-cyclical investment opportunity in an under-explored frontier province where there is excellent potential to make substantial new discoveries, similar to the discovery of the Nova-Bollinger nickel-copper sulphide deposit in the Albany-Fraser orogen.
Under the terms of the farm-in agreement Chalice may earn up to 70% interest in the Latitude Hill Project, which consists of five tenement applications.