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Golden Chalice Announces New Nickel Discovery on Langmuir
Golden Chalice Announces New Nickel Discovery on Langmuir
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[{"type":"text","content":"Golden Chalice Announces New Nickel Discovery on Langmuir\n\n\n\nGolden Chalice Announces New Nickel Discovery on Langmuir\n\nVancouver, British Columbia CANADA, February 27, 2009 /FSC/ - Golden Chalice Resources Inc. (GCR - TSX Venture, GCRIF - OTCBB_Pink_Sheets), (the \"Company\") is pleased to announce the discovery of new nickel mineralization at its wholly owned Langmuir Property located approximately 35 km southeast of Timmins, Ontario. (See Figure 1.)\n\nTo view the image, click on the link or copy and paste into your browser.\nhttp://www.usetdas.com/maps/goldenchalice/figure1.jpg \n\nThe first hole of the 2009 drilling program has intersected a massive sulphide zone with high-grade nickel about 1.5 km east of the Langmuir Discovery Zone where initial drilling in May of 2007 had intersected 1.14% nickel over 72.5 meters. (See Figure 2.)\n\nTo view the image, click on the link or copy and paste into your browser.\nhttp://www.usetdas.com/maps/goldenchalice/figure2.jpg \n\n* This first hole of the 2009 drill program intersected 3.34% nickel (Ni) over 0.9 meters from 373.50 to 374.40 meters. This interval includes a 20-cm massive sulphide section grading 11.35% nickel, 0.6% copper and 1.46 g/t combined platinum/palladium.\n\nThe newly intersected mineralization occurs approximately 300 metres vertically below surface within komatiitic volcanics. The intersected sulphide zone is similar in style to the mineralization occurring within or proximal to the Langmuir Discovery Zone. The drill target was a deep VTEM conductor identified using a computer modeling program for locating Kambalda-style deposits. \n\nManagement is extremely encouraged by these initial drill results as they represent the first new nickel discovery on strike with the Langmuir Discovery Zone. The results also validate the theory of a Kambalda-type district with potential for multiple nickel deposits over a relatively small area of the large Langmuir Property. This deposit type takes its name from the Kambalda nickel district of Australia, where at least 36 sulphide bodies host collective reserves of 48 million tonnes at 3.6% nickel and 0.25% copper.\n\nA geophysical (borehole time domain electromagnetic) survey done down the first hole of the 2009 program has identified a significant nearby off-hole electromagnetic (EM) response. This EM...