Chalice looking to make big discoveries

Chalice Gold Mines says it has the balance sheet to think big on the discovery front (reports MiningNews).
13th December 2019
Resources Rising Stars

Chalice Gold Mines says it has the balance sheet to think big on the discovery front (reports MiningNews).

The company has A$30 million in working capital and investments due to savvy project sales, and has not raised capital since 2011.

Chalice's flagship project is the Pyramid Hill project in Victoria, comprising 5190sq.km in the Bendigo region, where 60 million ounces of high-grade gold has been discovered.

However, Chalice sees the opportunity for further discoveries under the cover of the underexplored Murray Basin, where the Victorian government estimates 32Moz of undiscovered gold sits.

As well as the success story of Kirkland Lake Gold's Fosterville mine, Chalice has also been buoyed by other interest in the region.

Newmont Goldcorp is active in the area, while Hancock Prospecting and St Barbara are both shareholders and partners of Catalyst Metals.

Chalice managing director Alex Dorsch said the company's ground held the potential for dozens of discoveries.

"We could be here in years announcing our tenth discovery," he told the Resources Rising Stars Summer Series last week.

"The chance of success here is good and the prize is substantial."

Read more at https://www.miningnews.net/discovery/news/1377428/chalice-looking-to-make-big-discoveries

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