Chalice Gold Mines Limited - September 2013 Quarterly Report
Symbol: ASX: CHN TSX: CXN
Shares outstanding: 251 million
Fully diluted: 259 million
PERTH, Western Australia, Oct. 29, 2013 /CNW/ - Chalice Gold Mines ("the Company") ASX:CHN TSX:CHN advises that its Activity and Cash Flow Reports for the quarter ended Septmber 30, 2013 have been issued today. The full texts of these reports are available at the Company's website www.chalicegold.com and under the Company's profile at www.sedar.com.
Chalice took the first step towards building a portfolio of quality
assets during the Quarter through a proposed merger with Coventry
Resources Inc. by way of a Statutory Plan of Arrangement comprising 1
Chalice Share for every 1.78 Coventry Shares.
The proposed merger will combine Chalice's strong technical team and
financial capacity with Coventry's quality Cameron gold deposit located
in Ontario, Canada. The Cameron Project hosts Measured and Indicated
Resources of 567,000oz at 2.45g/t and an Inferred Resource of 829,000oz
Two Australian exploration deals were successfully completed during the
Quarter, both with high quality "drill-ready" exploration targets in
prospective, low-risk mineral provinces:
Chalice took a 10% placement in GeoCrystal Limited's Webb Diamond
Project in Western Australia, with options to earn up to 19.9%.
Drilling is currently underway; and
Chalice signed a joint venture (JV) with Uranium Equities Limited (UEQ),
securing the right to earn up to 70% in the Oodnadatta and Marla IOCGU
Projects in South Australia, by funding $5.5M in exploration. Drilling
is expected to commence in early November 2013.
- Chalice's balance sheet remains strong with cash of A$54.6M at September, 30 2013
SOURCE Chalice Gold Mines Limited