Precious Metals

Chalice Gold Mines Limited announced that it has expanded its strategic footprint in the world-class Abitibi gold belt in Quebec, Canada.

Chalice Gold Mines Limited (TSX:CXN) announced that it has expanded its strategic footprint in the world-class Abitibi gold belt in Quebec, Canada after securing an option and farm-in agreement over a prospective package of ground immediately adjacent to its East Cadillac gold project.

Highlights are as follows:

  • Chalice has entered into a binding option and farm-in agreement with Renforth Resources Inc. to acquire an 80 percent interest in the prospective Denain-Pershing project, located immediately east of its East Cadillac project
  • The project has several historical gold showings but is largely unexplored using modern exploration techniques
  • East Cadillac project area increased by ~100 km2 (68 percent) immediately east and contiguous with the current project boundary
  • Strike coverage along the Larder Lake – Cadillac fault increased by ~11km (70 percent), consolidating a contiguous >27kilometer strike length along this globally significant greenstone belt
  • Program of sampling / targeting to be undertaken in Q2-Q3 2018 to assess the full potential of the newly-secured ground

Alex Dorsch, CEO, commented:

The agreement with Renforth further enhances and consolidates our already significant position in the world-renowned Abitibi, extending our exploration footprint along the key gold-hosting structure in the region, the Larder Lake – Cadillac fault. We are looking forward to kicking off our exploration programs in the near future, applying modern exploration techniques and methodologies for the first time in this region to advance this exciting project as quickly as possible.

Click here to read the full Chalice Gold Mines Limited (TSX:CXN) press release.

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