| July 16, 2009 Chalice Diamond Corp: Mapping and Sampling of Gold Zones Underway on Claims Optioned to Strike Minerals Inc. | |
Strike recently reported encouraging results from a 30-hole drilling program conducted at its Nicholson property, including 298.43 grams gold per tonne over 0.46 meters intersected at a vertical depth of 40.5 meters on the main showing. Strike recognized the potential for the gold zone to continue onto claims held 75% by Chalice Diamond and 25% by Abitibi Mining and has optioned these claims surrounding their Nicholson property. Strike agreed to pay the Companies a total of $60,000 and 300,000 shares over a two-year period and also spend $300,000 to explore the claims by March 2012. Once these commitments are completed, Strike will have earned a 100% interest in the group of claims, subject to a 3% NSR. Strike has a team of four geologists and assistants on the optioned claims. Work includes stripping, washing and channel sampling, along with detailed geological mapping and sampling. The program is designed to give Strike a better understanding of the geological structure of the entire property to permit more efficient exploration and development. About Chalice Diamond Chalice Diamond Corp., in conjunction with joint venture partners, is continuing the search for diamond, base and precious metal deposits in the Wawa-Chapleau region of Ontario, where it has staked or optioned approximately 100,000 hectares of highly prospective ground. For further information contact: Alan Campbell or Kevin Hull, Investor Relations Phone: (604) 685-2222 Email: info@chalicediamond.com AGORACOM Investor Relations: Email: cod@agoracom.com Website: http://www.agoracom.com/ir/chalicediamond Or visit Chalice Diamond's web-site: www.chalicediamond.com for current information and to see Smartstox interviews with company Chairman Richard Hughes. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. | |
You can view the Next News Releases item: Tue Dec 15, 2009, Chalice Diamond Corp. Enters West Timmins District with Acquisition of Gold Project along Destor Porcupine Fault Zone You can view the Previous News Releases item: Thu Jun 18, 2009, Chalice Diamond Corp: Optionee, Strike Minerals Inc., Intersects 298.43 g/t Au over 0.46m on Adjacent Claims You can return to the main News Releases page, or press the Back button on your browser. |
