Business
High Grade Nickel Mineralization intersected at Langmuir Nickel Discovery and Deep Drilling confirms the potential for additional nickel discoveries at depth
High Grade Nickel Mineralization intersected at Langmuir Nickel Discovery and Deep Drilling confi...
About this update from Clean Energy Transition Inc.
[{"type":"text","content":"High Grade Nickel Mineralization intersected at Langmuir Nickel Discovery and Deep Drilling confirms the potential for additional nickel discoveries at depth\n\n\n\nHigh Grade Nickel Mineralization intersected at Langmuir Nickel Discovery and Deep Drilling confirms the potential for additional nickel discoveries at depth\n\nVancouver, British Columbia CANADA, July 15, 2008 /FSC/ - Golden Chalice Resources Inc. (GCR - TSX Venture, GCRIF - OTCBB_Pink_Sheets), is pleased to announce that drilling on the Langmuir Nickel discovery continues to intersect high grade nickel mineralization. Also of great importance is that assay results from deep drilling confirm the presence of the same rocks and style of nickel mineralization as the Langmuir discovery. These results suggest the potential for one or multiple nickel mineralized zones in addition to the discovery. This is the first time drilling has confirmed the potential for additional mineralized zones since the discovery was made in May 2007. \n\nRecent shallow infill drilling on the Discovery Zone has better defined the continuity and grade of mineralization. Drill hole GCL08-51 intersected 3.13% Ni over a drilled width of 10.60 meters from 130.40 to 141.0 meters including 3.54% Ni over 8.40 meters from 130.40 to 138.80 meters (see table below). Drill hole GCL08-48 intersected 1.74% Ni over a drilled width of 14.0 meters from 126.0 to 140.0 meters including 2.28% Ni over 9.0 meters from 126.0 to 135.0 meters. This drilling on the Discovery Zone indicates that nickel mineralization extends to surface with strong continuity and good grade between previously drilled sections. Current drilling on the Langmuir Discovery Zone is being conducted on north-south azimuths perpendicular to an established east-west strike trend for the deposit rather than the previous VTEM flight trend azimuths of 325 degrees and therefore, drill hole intercepts are perceived to be closer to true widths.\n\nDeep drilling is also testing newly modeled deep conductivity targets (see press release of May 13, 2008). Assays from the first hole drilled on the \"Deep Conductivity VTEM Model\" confirm that the hole has penetrated the same rock type that hosts the Langmuir Nickel Discovery. These adcumulate peridotitic komatiitic r...