Business
1.48% Nickel Over 21.9 Meters Enhances Langmuir Discovery Zone
1.48% Nickel Over 21.9 Meters Enhances Langmuir Discovery Zone
About this update from Clean Energy Transition Inc.
[{"type":"text","content":"1.48% Nickel Over 21.9 Meters Enhances Langmuir Discovery Zone\n\n\n\n1.48% Nickel Over 21.9 Meters Enhances Langmuir Discovery Zone\n\nWinter Drilling Planned for New Exploration Targets;\nMore Assays Expected Before the New Year;\nWorking Towards A 43-101 Compliant Resource Estimate\n\n\nVancouver, British Columbia CANADA, November 26, 2008 /FSC/ - Golden Chalice Resources Inc. (GCR - TSX Venture, GCRIF - OTCBB_Pink_Sheets), is pleased to announce positive results from recent drilling on its wholly owned Langmuir Property located about 35 kilometers (km) southeast of Timmins, Ontario. The drill program consists of infill drilling to further define the Langmuir Discovery zone discovered in May of 2007, as well as deep drilling of deep-seated VTEM conductors identified by previous airborne geophysical surveys.\n\nThe infill drilling program was designed to better define the continuity, depth extent and open-pit potential of the Discovery Zone. Highlights include: \n\n* Hole GCL08-64 intersected 1.48% nickel over a drilled width of 21.9 meters from 130.0 to 151.9 meters. Included in this intersection was a higher grade interval of 2.16% nickel over 6.9 meters (drill width) from 145.0 to 151.9 meters.\n* Drill hole GCL08-49 intersected 1.0% nickel over 21.4 meters (drill width) from 164.4 to 185.8 meters.\n\nBoth holes intersected Zone A of the Discovery Zone, with GCL08-49 intersecting mineralization about 80 meters vertically below surface and GCL08-64 intersecting mineralization about 130 meters vertically below surface. The two intersections occurred about 70 meters apart. (See table below for additional infill drilling results.)\n\nAssays are pending for additional infill drill holes on the Discovery Zone (see Figure 1). The results of the recent infill drilling program will be integrated with previous drill results and used toward building a NI 43-101 compliant resource estimate.\n\n\"We're encouraged by the results of our infill drilling, which returned some very high-grade nickel values, notably 9.28% nickel over one meter and 3.14% nickel over a drilled width of 10.6 meters,\" said President and CEO John Keating. \"Our deep drilling of VTEM conductors is also progressing well, with intersections of anomalous nickel mineralization in several areas indicating greater potential for additional nickel discoveries.\"\n\nThe Lan...